START PREPARATION WITH FINRA SIE EXAM DUMPS

Start Preparation with FINRA SIE Exam Dumps

Start Preparation with FINRA SIE Exam Dumps

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Tags: SIE Exam Question, SIE New Dumps Sheet, New SIE Test Pdf, SIE Cert Exam, Exam SIE Question

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SIE – 100% Free Exam Question | the Best Securities Industry Essentials Exam (SIE) New Dumps Sheet

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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q120-Q125):

NEW QUESTION # 120
An individual investor has $300,000 in cash and $400,000 in securities held with a financially troubled SIPC member firm for which liquidation has begun. The individual investor's cash is protected for what amount?

  • A. $150,000
  • B. $700,000
  • C. $300,000
  • D. $250,000

Answer: D

Explanation:
Step by Step Explanation:
* SIPC Coverage Limits: Protects up to $500,000 per customer, including a maximum of $250,000 for cash.
* In this case, $300,000 in cash exceeds the SIPC limit, so only $250,000 is protected.
* Incorrect Options:
* A: $150,000 understates the SIPC limit for cash.
* C: The full $300,000 in cash is not protected.
* D: Total coverage exceeds SIPC limits.
References:
* SIPC Coverage Details: SIPC Protection.


NEW QUESTION # 121
Which of the following responses best describes the primary strategy that an investor uses when selling a covered call?

  • A. Speculation
  • B. Income generation
  • C. Profit guarantee
  • D. Hedging

Answer: B

Explanation:
A covered call involves selling a call option on a stock the investor already owns. The strategy generates income in the form of the premium collected for selling the call, providing additional returns on the stock position.
* D is correctbecause the primary goal of a covered call is to generate income.
* Ais incorrect because covered calls do not hedge against large declines in the stock price.
* Bis incorrect because speculation involves taking higher risks, not a covered call's conservative strategy.
* Cis incorrect because no strategy guarantees a profit.


NEW QUESTION # 122
A customer is unhappy about a $5,000 loss in a stock that the registered representative (RR) recommended and threatens to call FINRA's Securities Helpline for Seniors about the matter. What is the most appropriate next step for the RR to take?

  • A. The RR should alert their compliance department to update their Form U4 with the complaint details.
  • B. The RR should notify their supervisor about the customer's dissatisfaction.
  • C. The RR should call FINRA's Securities Helpline for Seniors before the customer does and explain their side of the story.
  • D. The RR is permitted to reimburse the customer for the loss to resolve the customer's complaint.

Answer: B

Explanation:
Step by Step Explanation:
* Escalation Requirement: The RR must promptly notify their supervisor or compliance department about the customer's complaint as required by FINRA rules. Supervisors handle customer complaints according to firm procedures.
* Incorrect Options:
* B: Reimbursing the customer is not permissible without firm approval and may create compliance issues.
* C: Complaints requiring Form U4 updates involve specific allegations such as fraud, not general dissatisfaction.
* D: The RR should not contact FINRA directly; the firm will handle communications.
References:
* FINRA Rule 4530 (Reporting Requirements): FINRA Rule 4530.


NEW QUESTION # 123
Which of the following is considered nonpublic information?

  • A. Customer's telephone number
  • B. Customer's net worth
  • C. Customer's address
  • D. Customer's name

Answer: B

Explanation:
Step by Step Explanation:
* Nonpublic Information: A customer's net worth is nonpublic personal information that requires confidentiality under Regulation S-P.
* Incorrect Options:
* A, B, and D: Names, addresses, and phone numbers may be public unless linked to specific financial or personal details.
References:
* SEC Regulation S-P (Privacy of Consumer Financial Information): SEC Regulation S-P.


NEW QUESTION # 124
On settlement date, a customer is unable to pay for a purchase in his cash account. His position is liquidated.
Which of the following statements is true according to Federal Reserve Regulation T?

  • A. The customer is barred from trading for 30 days.
  • B. The customer's account is frozen for 90 days.
  • C. Only closing transactions are permitted.
  • D. All related accounts are frozen for 90 days.

Answer: B

Explanation:
Federal Reserve Regulation T mandates that customers must pay for purchases in a cash account within two business days of settlement (T+4). If payment is not made, the brokerage firm must liquidate the securities and place the account on a 90-day restriction.
* C is correctbecause the customer's account is frozen for 90 days, during which all trades must be paid for in advance.
* Ais incorrect as closing transactions are still permitted but require prepayment.
* Bis incorrect because the restriction lasts for 90 days, not 30.
* Dis incorrect as only the delinquent account, not related accounts, is frozen.


NEW QUESTION # 125
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