SIE Exam FREE Practice Test from KnopmanMarks. Pause, Answer, and Hit Play for Correct Answer.
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- Опубліковано 13 лип 2024
- Link to KnopmanMarks (10% discount code Guru10) and time stamped answer key below.
www.knopman.com/sie-securitie...
Time stamped answer key:
00:00 Intro
1:28 1. D. Depression
2:00 2. B. Updates to U-4 in 30 days
2:31 3. B. Monetary Policy
4:10 4. C. No guaranteeing customer against a loss
5:02 5. A. FINRA Jurisdictional retention for 2 years
5:46 6. B. Private Activity Municipal Bonds
7:19 7. A. Listed Option
8:00 8. D. Accredited Investor
9:39 9. D. Roth IRA
10:25 10. D. Nontraded REITs
11:30 11. C. There is no customer confidentiality with a proper government request.
12:15 12. D. Investment Company Act of 1940
14:16 13. D. Customers must begiven 30-day notice of changes
15:50 14. A. Third Market
17:04 15. B. DRIPs are taxable. Constructive receipt
18:04 16. A. Inverse relationship of interest rates and bond prices
19:00 17. D. Capacity disclosed on confirmation.
20:13 18. B. Prohibition against blanket recommendations
21:22 19. D. Why buy a put?
22:59 20. A. Reinvested dividends are taxable.
23:40 21. B. Bonds that do noy pay accrued interest trade "flat."
24:14 22. A. Municipal Notes
24:35 23. D. Statutory disqualification
25:38 24, D. Declared dividends.
26:05 25. B. Vast majority of B/D records are three years.
26:45 26. B. Reg T. A "freeride"
27:29 27. C. Difference between ETFs and ETNs
28:22 28. D. Rising US interest rates cause the dollar to go up.
29:30 29. A. Customer Confirmation
29:58 30. D. Know Your Customer (KYC). Suitability.
30:53 31. B. SIPC
31:18 32. B. Mutual funds
32:17 33. A. Bonds at maturity or redemption pay par.
32:40 34. D. Interest rate risk in a bond
33:07 35. B. Settlement of Municipal Syndicate account
33:46 36. B. Stop order.
35:01 37. D. Permission for a rep to.......
36:19 38. D. SEC does not approve or disapprove of anything.
36:51 39. A. Restricted securities
37:00 40. B. Mark ups or mark downs should be fair and reasonable.
37:15 41. A. Closed end funds
38:10 42. C. Time value in a premium erodes.
39:40 43. C. Unit Investment Trust
40:05 44. D. No commissions to unregistered persons.
40:19 45. B. Reverse split
41:15 46. D. Unit Investment Trust
41:45 47. C. LEAPs
43:18 48. A. Rights Offering
44:25 49. C. Market Manipulation is prohibited.
44:45 50. B. Mutual fund
45:00 51. A. MSRB has no regulatory power over issuers.
45:30 52. B. Warrants
46:00 53. D. '34
46:15 54. D. Hedge funds
47:15 55. D. Callable preferred stock
47:40 56. C. Short put
48:30 57. B. ETF
48:50 58. C. Nonsystematic risk or selection risk
49:40 59. A. Cost push inflation
50:23 60. B. Syndicate agreement
51:00 61. B. UIT
51:27 62. A. Closed end funds trade supply and demand
51:50 63. B. Commissions and mark ups or mark downs should be fair and reasonable.
52:37 64. A. Publicly traded REITS
53:18 65. C. Market or interest rate risk in Treasury Notes and bonds
54:00 66. D. Institutional accounts
54:31 67. B. Insider trading
55:17 68. B. FINRA
55:45 69. A. Preferred stock
56:30 70. C. Stabilization is NOT fraudulent.
57:34 71. C. Market at close
57:49 72. C. Yield relationships for a bond trading at a discount
57:54 73. C. Feasibility study in a revenue bond
1:00:29 74. B. Commingling
1:00:51 75. D. Bonds with higher coupons are more stable in price than bonds with lower coupons.
1:01:37 76. A. Reclassification of securities
1:02:15 77. B. Nominal yield
1:02:08 78. A. Correspondence
1:03:30 79. A. Market maker qoute
1:04:23 80. B. Summary prospectus
1:05:25 81. D. UIT
1:06:10 82. B. Mortgage REITs
1:06:34 83. C. Material nonpublic information
1:07:22 84. D. Regulatory element of CE
1:07:40 85. B. Below BBB bonds are less than investment grade
This is my second time taking the SIE. I feel much more prepared than the first time. I relied on Kaplan on the first one, and saw questions in the exam that were not covered by Kaplan. I missed the exam by a point. I'm covering as much materials from different sources this time around! Thank you Dean.
You are welcome. Always good to have more than one source.
Passed the SIE yesterday Dean! Road to 3-0! You’re the man!
Kudos on your SIE Exam testing victory!
I’m taking mine on Monday, any tips?
@@esllyhernandez2439 have you done the TestGeek Practice Test? If not, do that and circle back.
Congrats
Were the questions just like this practice test? Or different wording/ sets ? Taking mine relatively soon and somewhat worried
I passed my SIE as well , thank you for all your content!! Reading the full question and all the answers really helped not fall for tricks!
Kudos!!!! What's your next testing victory? 6? 7?
www.knopman.com/sie-securities-industry-essentials-exam-prep?SIE 10% Knopman discount code is Guru10.
passed my SIE, thanks Dean! onto my Series57
Kudos on your first testing victory!
Check out the 57 playlist. There is a KnopmanMarks 57 practice test in it. If using Knopman my 10% discount code is Guru10.
Dean = KING
Hi Dean thnx for your video, I’d like to ask you these two question:
Someone who sell shares to the public, in what capacity is acting:
A)Issuer
B) underwriter
C) dealer
D)Broker
2. Who print money in USA?a)Congress
b)Fed?
C)President?
D)None of them
Both these questions are nonsensical. You will see neither on your exam.
In the first question more context is needed. In the second the question on the exam it will be who is in charge of the money supply or monetary policy and the answer will be the FRB.
Hey Dean, I am confused about something you said. Around 26:00, you mention how cash dividends are taxable, however stock dividends are not.... However, this seems to conflict with questions 15 and 20, in which you stipulate that DRIPs are, in fact, taxable. I was under the impression that a DRIP is a form of stock dividend. Am I mistaken? Could you shed some light on this. Thank you!
You are not correct. DRIPS are not a form of stock dividend. They are the reinvestment of a cash dividend. Cash dividends received it reinvested are taxable
@@Series7Guru Wonderful. Thank you for clarifying. 🙏
Hey Dean, On #42, how is the premium gong down? Premium is fixed no?
No. The premium changes. Time value erodes. The premium you paid or received does not change but the value of the option contract you bought or sold does. Watch my basic options video.
Basic option trick is that the closer you get to expiration date the lower the option’s premium become. Thats how I was able to retain this information
@mashahben3659 indeed. Option contracts are a wasting asset. Time value erodes. At expiration an option contract is only worth its intrinsic value. If the contract has intrinsic value the contract will be exercised. If the contract has no intrinsic value the contract will expire worthless
Hi Dean, on question 17, if the stock was purchased by the customer instead of the BD, would the broker dealer’s confirmation be considered an agent receiving a commission?
Yes
Thank you!
Hi Dean. First time watching this practice test video and scored a 77/85. That gives me confidence. What are your thoughts? Also, I am testing today.
You got this! Circle back with news of your testing victory!
Hey Dean, could you explain #65 in more depth by chance?
When interest rates increase, the immediate impact will be a decline in
bond prices. Interest rate risk is also referred to as market risk. It is
possible that higher rates could also lead to higher inflation, but that
would be a longer term concern.
Hi Dean,
In regard to #15, would reinvested dividends also be taxed in a ROTH? I thought the purpose of the ROTH was that earnings would grow tax-free?
Because contributions to a Roth IRA are made with after-tax money, the money in the account grows tax-free, including dividends, earnings, and capital gains. This means that qualified withdrawals of earnings in retirement are also tax-free, as long as you meet certain requirements. For example, you can generally withdraw earnings without penalty if you're at least 59½ years old and it's been at least five years since you first contributed to your Roth IRA. This is known as the five-year rule.
@@Series7Guru Got it thanks. Taking SIE tomorrow, thanks for all your help!
Way harder than other practice tests I’ve taken….
Doubt it's testable, but I'm just curious. What happens if correspondence is sent out and then after it's rejected by the principal?
Have no idea. Never heard of such a thing.
#36. For me, something difficult to understand (using English as a second language) is: if the question starts with "IF" and the end is "THEN", it means we have cause and effect, so B and C are not correct. I'm not saying you're wrong, but things like this are tripping me up.
It is not my exam. It is a Knopman exam. It should be answered as ot is here.
I hope the exam looks NOTHING like this. I passed with a 74%.
I have been exclusively studied Kaplan. I am a tiny bit nervous but I am praying for a good draw and pass 🙏 😊
Don't worry. You got this!
@@Series7Guru thank you!
I will come back to this comment after my testm
@@Series7Guru FYI, I passed!
Thank you :)
@Gem20ish kudos on your first testing victory! What's your next testing victory? 6? 7?
@Series7Guru My next victory will be series 66 in 3 months.
Right now, I don't have any sponsor. So I am doing everything I can on my own. Hopefully soon I get a job offer!
For #47, you mention that it doesn't say anything regarding it being a call contract yet the question phrases the word call after Leap. Wouldn't that mean that the contract has unlimited risk?
No becasue the questions says you are holding the contract. That means you are long or the buyer. So your risk is the premium paid.
for #17, can you help explain when there is a markup or a markdown? It says the customer sold XYZ stock, doesn’t this mean the B/D buys with a markup?
Customer sells at the bid, a markdown. Customer buys at the ask, a markup. Check out my video lecture on same.
@@Series7Guru Could you link that lecture where you mention markup markdown?
@erahia5637 I am off grid until Tuesday so use the channel search bar.
@@Series7Guru just passed the SIE! Thank you so much for all your help with the videos. On to the 66!!
why is this practice exam harder than anything ive taken? I’ve been hitting mid 80’s on ExamFX and on Finra’s practice test but this one is crazy difficult
Knopman wants to make sure you can take down any draw of the test.
i was honestly struggling with this. ive been getting 80-85 on kaplan with my exam this Friday thinking I'm ready but struggled with this one
Knopman is trying to stretch your SIE mind and hope it doesn't go back to the same place. lol
@@Series7Guru Okay, so i shouldn't cancel my exam I couldn't sleep last night lol
No.
Im on the same boat, did you end up passing?
For #19, I was thinking D is true because you are hoping to eventually create income, right? I see your reasoning behind the fact that you are initially having money go out but seems tricky.
Hey, is 31 B or C, the video and the description don't seem to match
The video description is correct
what are your thoughts on this exam compared to the real thing
Much tougher
@@Series7Guru this is much tougher than the real thing? I'm absolutely smoking this exam right now. If I get above a 75% on this exam do you think I should be good to go for the real one?
@@petecompiano9408 for sure
@@Series7Guru I got 66/85 on this exam Dean. Think I should be set for the real thing? You are the MAN!!!
@@petecompiano9408 did you pass bro? taking mine next week and crushed these as well
if i pass this practice should i be ok on the actual?
Yes
@@Series7Guru thanks! been averaging 60-70% on knopman so feeling a bit nervous
@@stignatius1625 I’m averaging 40-50% on knopman but have another 15 or 16 days left to study do you think it’s enough time ?
@@lucasdesouza2120 yea ur good
@@stignatius1625thanks man good to hear that, were the questions you got similar to the practice questions on knopman? Do you have any recommendations that could help ease my anxiety haha