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A helpful and effective SIE test prep resource
If you want a job in the Securities industry, the first step is to show your employer you’ve got what it takes. And to do that, you need a great score on the SIE Exam. You can maximize your chances of acing it on the first try with the latest SIE practice resource from your friends at For Dummies.
SIE Exam: 1001 Practice Questions For Dummies offers helpful and challenging practice questions, along with detailed, step-by-step answers and explanations, for anyone preparing for the Securities Industry Essentials exam. This useful study aid will help you banish test anxiety and get familiar with the format of the test questions. It also provides:
The perfect companion for everyone preparing for the Securities Industry Essentials exam, SIE Exam: 1001 Practice Questions For Dummies is a fast, efficient, and effective way to prep for the test.
Steven M. Rice is a partner and instructor at Empire Stockbroker Training Institute, one of the country’s leading schools for training to the securities industry. Steven is the author of Series 7 Exam For Dummies, SIE Exam For Dummies, and Series 7 Exam: 1001 Practice Questions For Dummies.
Introduction 1
What You’ll Find 1
Beyond the Book 2
Where to Go for Additional Help 2
Part 1: Tackling the Questions 3
Chapter 1: Securities Underwriting: The Process and the Team Players 5
The Problems You’ll Work On 5
What to Watch Out For 5
1–35 Bringing New Issues to Market 6
36–43 Types of Securities Offerings 10
44–61 Exempt Securities and Transactions 11
Chapter 2: Equity Securities: Corporate Ownership 15
The Problems You’ll Work On 15
What to Watch Out For 15
62–97 Common Stock 16
98–125 Preferred Stock 20
126–141 ADRs, Rights, and Warrants 24
Chapter 3: Debt Securities: Corporate and US Government Loans 27
The Problems You’ll Work On 27
What to Watch Out For 27
142–178 Types of Bonds 28
179–208 Price and Yield Calculations 32
209–224 U S Government Securities 36
225–238 Money Market Instruments 37
Chapter 4: Municipal Bonds: Local Government Securities 41
The Problems You’ll Work On 41
What to Watch Out For 42
239–268 GO and Revenue Bonds 43
269–275 The Primary Market 47
276–286 Additional Municipal Bonds 48
287–296 Municipal Notes 49
297–302 Municipal Fund Securities 50
303–313 Taxes on Municipal Bonds 51
314–335 Municipal Bond Rules 52
Chapter 5: Delivering Diversification with Packaged Securities 57
The Problems You’ll Work On 57
What to Watch Out For 58
336–340 Investment Company Rules 59
341–384 Management Investment Companies 59
385–406 Investment Company Options 65
407–431 Annuities 67
432–436 Variable Life Insurance Products 70
Chapter 6: Working with Direct Participation Programs and REITs 73
The Problems You’ll Work On 73
What to Watch Out For 74
437–457 DPPs, General, and Limited Partners 75
458–464 Partnership Paperwork 77
465–470 Passive Gains and Losses 78
471–491 Types of DPPs 79
492–502 REITs 81
Chapter 7: Options: Understanding the Basics of Puts and Calls 83
The Problems You’ll Work On 83
What to Watch Out For 84
503–535 Option Basics 85
536–573 Standard Option Math 88
574–602 Option Paperwork and Rules 93
Chapter 8: Customer Accounts: Doing the Right Thing 97
The Problems You’ll Work On 97
What to Watch Out For 97
603–622 Opening Accounts 98
623–640 Selecting the Appropriate Type of Account 101
641–664 Margin Accounts 103
665–667 Telephone Act of 1991 106
Chapter 9: Securities Analysis: Doing a Little Market Research 107
The Problems You’ll Work On 107
What to Watch Out For 108
668–686 Systematic and Nonsystematic Risk 109
687–709 Fundamental and Technical Analysis 111
710–734 Money Supply and Monetary Policy 114
735–744 Economic Indicators 117
745–752 Cyclical, Defensive, and Growth Investments 118
753–755 Economic Theories 118
Chapter 10: Securities Markets: Taking Orders and Executing Trades 121
The Problems You’ll Work On 121
What to Watch Out For 121
756–763 Primary and Secondary Market 122
764–774 Making the Trade 123
775–781 Broker-Dealer 124
782–810 Executing Customer Orders 125
811–815 Types of Investors 129
Chapter 11: Making Sure the IRS Gets Its Share: Taxes and Retirement Plans 131
The Problems You’ll Work On 131
What to Watch Out For 132
816–822 Tax Categories and Types of Income 133
823–843 Taxes on Investments 133
844–876 Retirement Plans 137
Chapter 12: Rules and Regulations: No Fooling Around 143
The Problems You’ll Work On 143
What to Watch Out For 144
877–892 Securities Regulatory Organizations 145
893–904 FINRA Registration and Reporting Requirements 147
905–957 Trading After the Account Is Open 149
958–993 Additional Rules 156
994–1,001 FDIC and SIPC 161
Part 2: Checking Your Answers 163
Chapter 13: The Answers 165
Chapter 1 Answers 165
Chapter 2 Answers 174
Chapter 3 Answers 187
Chapter 4 Answers 203
Chapter 5 Answers 219
Chapter 6 Answers 234
Chapter 7 Answers 243
Chapter 8 Answers 261
Chapter 9 Answers 272
Chapter 10 Answers 285
Chapter 11 Answers 294
Chapter 12 Answers 302
Index 321
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