Free SIE Exam Practice Test 47

1. Which of the following provides clearing, settlement, risk management, central counterparty services, and a guarantee of completion for certain transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt, ADRs, ETFs, and UITs?

2. Which of the following must be filed for each of the first three fiscal quarters of a company's fiscal year, and includes unaudited financial statements and provides a continuing view of the company's financial position during the year?

3. According to SEC Rule 506(b), private placements may be sold to how many accredited and non-accredited investors?

4. Kappa Inc., a C Corp, had a profitable year and has extra money to invest. The owners would like to maximize the after-tax income to the corporation. Which of the following investments would best help them achieve their goal?

5. Which of the following regulations contains rules providing exemptions from the registration requirements under the Securities Act of 1933?

6. Which of the following describes the maturities of Treasury bills, Treasury notes, and Treasury bonds?

7. Which of the following is a set of documents, including a prospectus, which a company must file with the SEC pursuant to the Securities Act of 1933 before it proceeds with a public offering?

8. If the yield curve is __________, then the spread between yields of short-term and long-term bonds is __________.

9. ____ A distribution made by a corporation that is paid as additional shares of stock rather than cash.

10. ____ A type of dividend to which capital gains tax rates are applied.

11. ____ Normally a disguised dividend, such as a below-market shareholder loan.

12. ____ A payment to shareholders that exceeds the company's retained earnings; payment is made from capital rather than earnings.

13. Which of the following are backed by the full faith and credit of the government issuing the bonds and are repaid through taxes collected by the government body?

14. All but which of the following are correct regarding Electronic Communication Networks (ECNs)?

15. Which of the following was established by FINRA as an integrated audit trail of order, quote, and trade information for all National Market System stocks and OTC equity securities?