SIE Exam Practice Question 343
Question: 343
Joe is a registered rep currently employed by MidWest Broker-Dealer, a St. Louis based firm. Joe likes to leave downtown and drive through the rural fields of the Midwest on the weekends. He so enjoys the open plains that he chats with his 12 closest family members to borrow $200,000 and open his very own farm. Which of the following is true regarding this action?
Correct Answer: A
Explanation:
A - Outside business activity requires the firm to be notified of the full details of the activity. It does not, however, require permission from the firm. Borrowing money from family members does not require permission from a broker dealer.
More Tests
- SIE Exam Practice Test 1
- SIE Exam Practice Test 2
- SIE Exam Practice Test 3
- SIE Exam Practice Test 4
- SIE Exam Practice Test 5
- SIE Exam Practice Test 6
- SIE Exam Practice Test 7
- SIE Exam Practice Test 8
- SIE Exam Practice Test 9
- SIE Exam Practice Test 10
- SIE Exam Practice Test 11
- SIE Exam Practice Test 12
- SIE Exam Practice Test 13
- SIE Exam Practice Test 14
- SIE Exam Practice Test 15
- SIE Exam Practice Test 16
- SIE Exam Practice Test 17
- SIE Exam Practice Test 18
- SIE Exam Practice Test 19
- SIE Exam Practice Test 20