[2026] FINRA Securities Industry Essentials Exam (SIE)

문제1

At which of the following prices does a 7% coupon bond have the highest current yield?

A. 92

B. 102

C. 107

D. 100

정답: A

설명: (Fast2test 회원만 볼 수 있음)

문제2

A partnership investing in undeveloped land is primarily seeking:

A. capital appreciation.

B. investment interest deduction.

C. operational income.

D. accelerated depreciation.

정답: A

설명: (Fast2test 회원만 볼 수 있음)

문제3

Which of the following market participants serve as intermediaries between buyers and sellers to ensure that trades are settled correctly?

A. Market makers

B. Investment advisers

C. Exchanges

D. Clearing corporations

정답: D

설명: (Fast2test 회원만 볼 수 있음)

문제4

Which of the following statements best describes the market maker system of trading and execution?

A. All orders are transmitted to a designated market maker for review before being displayed to the broader market.

B. One market maker is responsible for maintaining a fair and orderly market for all market participants.

C. Individual market participants negotiate with each other to execute orders through a designated market maker.

D. Multiple market makers compete with each other in displaying bids and offers to the general marketplace.

정답: D

설명: (Fast2test 회원만 볼 수 있음)

문제5

A bond has a current market price of $1,000 and pays $25 every six months. What is the current yield of the bond?

A. 5.0%

B. 4.0%

C. 6.0%

D. 2.5%

정답: A

설명: (Fast2test 회원만 볼 수 있음)

문제6

Which of the following statements is true regarding the difference in treatment between common stock and preferred stock?

A. Common stock is a lower priority compared to preferred stock under a bankruptcy proceeding.

B. Common stock and preferred stock are treated the same under a bankruptcy proceeding.

C. Common stock dividend payment is treated as a higher priority over that of preferred stock.

D. Common stock and preferred stock are treated the same when it comes to payment of dividends.

정답: A

설명: (Fast2test 회원만 볼 수 있음)

문제7

The use of company-specific financial and operating information that typically spans longer periods of time to evaluate an investment opportunity is known as which of the following types of analyses?

A. Fundamental

B. Technical

C. Economic

D. Quantitative

정답: A

설명: (Fast2test 회원만 볼 수 있음)

문제8

An investor wants to make a $1,000 distribution from their mutual fund portfolio. They own two different mutual funds in this portfolio. Fund A has a high cost basis, and Fund B has a low cost basis. Which of the following strategies should they use if their only objective is to pay the least amount of taxes?

A. Redeem the fund that has the higher profit

B. Redeem $500 of Fund A and $500 of Fund B

C. Redeem $1,000 of Fund B

D. Redeem $1,000 of Fund A

정답: D

설명: (Fast2test 회원만 볼 수 있음)

문제9

Under Industry rules, what is the maximum price that qualifies a security as a penny stock?

A. $0.10

B. $i.00

C. $0.50

D. $5.00

정답: D

문제10

An investor needs to liquidate stock today because he needs the cash. Which of the following order types must the investor place to ensure that the trade will be executed today?

A. Stop order

B. Market order

C. Stop limit order

D. Limit order

정답: B

설명: (Fast2test 회원만 볼 수 있음)

문제11

Which of the following statements best describes a characteristic of 529 savings plan accounts?

A. Earnings are taxed to the donor at the time of a qualified withdrawal.

B. The number of contributors to the account is limited.

C. Using funds for undergraduate or graduate studies is permissible.

D. There are no contribution limits to the account.

정답: C

설명: (Fast2test 회원만 볼 수 있음)

문제12

A common stock undergoes a 1-for-25 reverse stock split. Which of the following statements describes the impact of the issuer ' s market capitalization?

A. It increases because there are more shares outstanding.

B. It decreases because there are fewer shares outstanding.

C. It remains the same as it was prior to the split.

D. It increases because the stock price increases.

정답: C

설명: (Fast2test 회원만 볼 수 있음)

문제13

An investor wants to purchase mutual fund shares, but she is concerned about the tax efficiency of the fund.
Which of the following disclosures required under industry regulations will help the investor make an informed decision?

A. The commissions that the fund pays on each transaction

B. Sales charges and breakpoint discount opportunities

C. The fund ' s turnover ratio

D. Projections of future dividend and capital gains distributions

정답: C

설명: (Fast2test 회원만 볼 수 있음)

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