SIE Exam guide: Securities Industry Essentials Exam (SIE) & SIE Test engine & SIE Real dumps
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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q38-Q43):
NEW QUESTION # 38
Which of the following characteristics is true of open-end mutual fund shares?
Answer: B
Explanation:
Open-end mutual funds do not trade on secondary markets. Instead, shares are continuously issued or redeemed by the fund at the net asset value (NAV), calculated at the market close.
* D is correctbecause investors purchase and redeem shares directly through the fund or authorized brokers.
* Ais incorrect because mutual funds do not have a predetermined dissolution date.
* Bis incorrect because mutual fund shares are priced at the NAV calculated once daily after the market closes.
* Cis incorrect because secondary market trading applies to closed-end funds and ETFs, not open-end mutual funds.
NEW QUESTION # 39
Which of the following statements is true about a corporation's balance sheet?
Answer: D
Explanation:
Step by Step Explanation:
* Balance Sheet Definition: Shows a company's financial position at a specific point in time, listing assets, liabilities, and shareholders' equity (net worth).
* Other Financial Statements:
* Profit and Loss Statement: Summarizes revenues and expenses over a period.
* Cash Flow Statement: Tracks cash inflows and outflows.
References:
* SEC Guide to Financial Statements: SEC Financials.
NEW QUESTION # 40
A bond with a par value of $1,000 that is backed by the taxing power of a local government is known as:
Answer: C
Explanation:
Step by Step Explanation:
* General Obligation (GO) Bonds: Backed by the full faith and credit of the issuing municipality, relying on its taxing power for repayment.
* Revenue Bonds: Supported by revenues from a specific project or source.
* Treasury Bonds: Issued by the federal government.
* Corporate Bonds: Issued by corporations, not municipalities.
References:
* SEC Municipal Bond Guide: SEC GO Bonds.
NEW QUESTION # 41
When is a newly registered person subject to the Continuing Education Regulatory Element requirement?
Answer: A
Explanation:
Step by Step Explanation:
* Regulatory Element Requirement: Newly registered persons must complete the Continuing Education (CE) Regulatory Element on the second anniversary of their initial registration and every three years thereafter.
* Incorrect Options:
* A: The requirement begins on the second anniversary, not the following calendar year.
* D: The cycle is every three years, not five.
References:
* FINRA Rule 1240 (Continuing Education): FINRA Rule 1240.
NEW QUESTION # 42
An investor owns 100 shares of a company's stock and is very interested in electing a particular individual to the board of directors of the corporation. There are 20 individuals running to fill 10 board seats. If the corporation uses the cumulative voting method, what is the maximum number of votes the investor is permitted to cast for this particular director?
Answer: B
Explanation:
In cumulative voting, shareholders can allocate all their votes to a single candidate. The total number of votes is calculated by multiplying the number of shares owned by the number of seats available:
* Total votes = 100 shares × 10 seats =1,000 votes.
* The investor can allocate all votes to one candidate.
* C is correctbecause cumulative voting allows all votes to be concentrated.
NEW QUESTION # 43
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