87 episodes

The SIE Exam Podcast (Securities Industry Essentials Exam Podcast) is for the individual who is interested in working in the financial services industry. To enter this profession there is now the requirement effective October 1, 2018 to take and pass the Securities Industry Essentials Exam (SIE Exam). This exam is a prerequisite exam needed prior to taking most of the other FINRA Series of Exams. This Securities Industry Essentials Exam Podcast will contain a series of sample lessons which will cover the material required to be mastered in order to pass the Securities Industry Essentials Exam. This introduction to the Securities Industry Essentials Exam podcasts, Outlines the exam and what is covered in the exam. In order to take the Securities Industry Essentials Exam all that is required is that the candidate is 18 years or older it is not required that you are currently working in the financial services industry.

SIE Exam: Securities Industry Essentials Exam Lessons and Information Franz

    • Business
    • 4.3 • 43 Ratings

The SIE Exam Podcast (Securities Industry Essentials Exam Podcast) is for the individual who is interested in working in the financial services industry. To enter this profession there is now the requirement effective October 1, 2018 to take and pass the Securities Industry Essentials Exam (SIE Exam). This exam is a prerequisite exam needed prior to taking most of the other FINRA Series of Exams. This Securities Industry Essentials Exam Podcast will contain a series of sample lessons which will cover the material required to be mastered in order to pass the Securities Industry Essentials Exam. This introduction to the Securities Industry Essentials Exam podcasts, Outlines the exam and what is covered in the exam. In order to take the Securities Industry Essentials Exam all that is required is that the candidate is 18 years or older it is not required that you are currently working in the financial services industry.

    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 23 Securities Act of 1933 Quiz

    This is a SIE Exam Lesson 23 Securities Act of 1933 Quiz , See how you do if you need help listen to the lesson over.

    Questions covered include

    1. Which of the following is true about the Securities Exchange Act of 1934?

    (Select all that apply.)

    A. It applies to exempt securities.

    B. It determines what fair trading practices are.

    C. It regulates the secondary trading of securities.

    D. It was established by the Securities and Exchange Commission.



    2. Which of the following is contained in a 10-K? (Select all that apply.)

    A. balance sheet

    B. cash flow statement

    C. compensation of officers

    D. income statement



    3. The 10-Q is an audited financial report submitted quarterly to the Securities and Exchange Commission.

    A. True

    B. False



    4. A ___ is filed if the company changes its name or there’s a 5% or greater change in the number of shares outstanding.

    A. 10-C

    B. 13-G



    C. 15-B

    D. 8-K



    5. Which of the following is required from the broker-dealers by the Securities Exchange Act of 1934?

    (Select all that apply.)

    A. buy back stocks for customers that reneged on their transactions

    B. electronically deliver clients’ confirmation and statements

    C. maintain a minimum net capital

    D. send customers a copy of their income statement



    6. Under ___, margins are regulated from brokers to their customers.

    A. Regulation D

    B. Regulation M

    C. Regulation T

    D. Regulation U



    7. Broker-dealers are allowed to disclose to customers the routing of the customers’ orders.

    A. True

    B. False



    8. It is a totally anonymous matching of buy and sell orders.

    A. alternative trading system

    B. electronic exchange

    C. electronics communication network

    D. physical exchange



    9. Which of the following are/were physical exchanges?

    (Select all that apply.)

    A. Cincinnati Stock Exchange

    B. New York Stock Exchange (NYSE)

    C. Pacific Stock Exchange

    D. Philadelphia Stock Exchange



    10. Which of the following is true about penny stocks?

    (Select all that apply.)

    A. They are sold on the over-the-counter bulletin board.

    B. They are unsolicited orders.

    C. They are traded on the NASDAQ and other listed exchanges.

    D. They sell at less than $5.



    11. The broker is not required to assess a penny stock buyer’s financial situation if the buyer is a/an ___.

    (Select all that apply.)

    A. accredited investor

    B. client whose order is unsolicited

    C. insider

    D. interstate citizen



    12. It is trading on nonpublic material information on the company.

    A. front running

    B. insider trading

    C. pegging

    D. wash trade



    13. This is the catchall rule that prohibits anything fraud even if it is not specifically prohibited in the Securities Exchange Act of 1934.

    A. Rule 10b-5

    B. Rule 127-c

    C. Rule 144A

    D. Rule 145



    14. For unlawful practices under the Securities Exchange Act of 1934, suits can be brought within ___ of discovery.

    A. six months

    B. one year

    C. two years

    D. three years



    15. If a control person owns a position of a stock and he wants to lock in his profit or loss, he can ___.

    A. dribble out

    B. peg the stock

    C. short against the box

    D. short sell the stock



    16. Anybody that has nonpublic material information on the company is considered an insider.

    A. True

    B. False



    17. In the United Sates, they are exempted from the rules that prohibit insider trading.

    • 12 min
    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 22 Annuities Quiz

    • 12 min
    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 21 Unit Investment Trust Quiz

    SIE Exam Lesson 21 Unit Investment Trust Quiz

    • 12 min
    SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

    SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

    SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

    SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

    This is a SIE Exam Lesson 20 Mutual Funds pt 3 Quiz, See how you do if you need help listen to the lesson over.

    Questions covered include



    1. Which of the following is true about hedge funds?

    (Select all that apply.)

    A. They are not allowed to cut off withdrawals by their investors.

    B. They are open to any kind of investor.

    C. They charge a management fee.

    D. They have a cap on the amount that is available to be withdrawn at any given time.



    2. What is the minimum capital for a hedge fund?

    A. $100,000

    B. $200,000

    C. $500,000

    D. $1,000,000



    3. Which of the following is qualified as an accredited investor according to the Securities Act of 1933?

    (Select all that apply.)

    A. a bank

    B. a charitable organization with a total asset of $5 million

    C. a trust with a total asset of $10 million

    D. an employee benefit plan that has a total asset of $3 million



    4. A business is qualified to be an accredited investor if all its equity owners are accredited investors.

    A. True

    B. False



    5. A natural person can be an accredited investor if that person ___.

    (Select all that apply.)

    A. has an income exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income level in the current year

    B. has individual net worth that exceeds $1 million including the value of the primary residence of such person

    C. has a joint income with the spouse exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income in the current year

    D. has a joint net worth with the person’s spouse that exceeds $1 million excluding the value of the primary residence of such person



    6. The performance of a hedge fund is always better than the market.

    A. True

    B. False



    7. Which of the following strategies does a hedge fund employ?

    (Select all that apply.)

    A. global macro hedge fund strategy

    B. relative value arbitrage

    C. high-frequency trading

    D. currency strategies



    8. A mutual fund’s annual and semiannual report has an income statement similar to a regular corporate income statement.

    A. True

    B. False



    9. Which of the following can be found in a mutual fund’s income statement?

    (Select all that apply.)

    A. dividends

    B. capital gains

    C. expenses

    D. net income



    10. Which of the following is true about expense ratio?

    (Select all that apply.)

    A. It applies to closed-end funds but not to open-end funds.

    B. It gives an overall look at how much it costs to pay the management to buy the stocks instead of buying it yourself without paying any management fee.

    C. It is the total net assets divided by the total expenses.

    D. It shows the efficiency of the fund.



    11. If you’re buying a fund at a very big discount but has a very high expense ratio, the discount you’re buying those stocks may disappear.

    A. True

    B. False



    12. An investment company should distribute at least ___ of its income in order to be regulated under the Investment Company Act of 1940.

    A. 80%

    B. 85%

    C. 90%

    D. 95%



    13. If an investment company is not regulated under the Investment Company Act of 1940, ___.

    A. it becomes taxed as a regular corporation

    B. it has to pay an additional tax equivalent to 2% of the total capital gains

    C. it will require double management fees

    D. its net pass is not taxed



    14. Investment companies can pass through capital gains ___.

    A. monthly

    B. quarterly

    C.

    • 12 min
    SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

    SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

    SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

    SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

    This is a SIE Exam Lesson 19 Mutual Funds pt 2 Quiz, See how you do if you need help listen to the lesson over.

    Questions covered include



    1. Which of the following is true about closed-end funds?

    (Select all that apply.)

    A. It can trade at a premium or at discount to net asset value.

    B. It is redeemed.

    C. It has a fixed maturity and interest rate.

    D. It trades as a common stock on the exchanges wherever it is listed.



    2. Which of the following details can be found on the website of the company that sponsors a closed-end fund?

    (Select all that apply.)

    A. discount to net asset value

    B. net asset value

    C. premium

    D. price of the stock



    3. It is the amount annually collected from the shareholders, which include all the operating cost of the fund.

    A. conversion ratio

    B. expense ratio

    C. liquidity ratio

    D. Sharpe ratio





    4. If a closed-end fund has a very high expense ratio, one reason you might wish to buy the fund is because ___.

    A. it is sold at net asset value

    B. it is sold at net asset value less than the expense ratio

    C. it is sold at par value

    D. it is sold at a big discount to net asset value



    5. In financial industry, “Red Herring” refers to ___.

    A. expense ratio

    B. hedge funds

    C. master limited partnerships

    D. preliminary prospectus



    6. Which of the following is true about a preliminary prospectus?

    (Select all that apply.)

    A. It contains the price of shares agreed upon.

    B. It contains the total number of shares issued.

    C. It does not contain the price of shares agreed upon.

    D. It does not contain the total number of shares issued.



    7. One way that funds will get a higher return than the market average or a bigger loss than the market average is by leveraging their assets.

    A. True

    B. False



    8. A fund is leveraged at 9.2%. If it has $80,000,000 in its assets, the portfolio would reflect a value of ___.

    A. $7,360,000

    B. $72,640,000

    C. $73,600,000

    D. $87,360,000



    9. Leveraged funds enhance returns and outperform the market when stocks are going down.

    A. True

    B. False



    10. A mutual fund or a management company must distribute their income ___.

    A. annually

    B. monthly

    C. quarterly

    D. weekly



    11. A management company distributes its income in a form of ___.

    (Select all that apply.)

    A. capital gains

    B. commissions

    C. dividends

    D. interest



    12. These are capital gains that the management company must distribute at least on an annual basis.



    A. capital yield

    B. distribution yield

    C. dividend yield

    D. income yield



    13. Dividend yield is the dividend that is paid out from the stocks that the management company owns and then passed through to the investors.

    A. True

    B. False



    14. If you buy a closed-end fund before or close to the record date, your net asset value would decline by the amount of the distribution.

    A. True

    B. False



    15. What would be a good reason for management companies to organize as master limited partnerships?

    A. They want to acquire big positions in closed-end funds.

    B. They want to avoid the double taxation.

    C. They want to decrease their management expenses.

    D. They want to increase their management fees.



    16. It is a tax document of a master limited partnership.

    A. 1099-DIV

    B. 1601F

    C. CF-213

    D. K-1



    17.

    • 11 min
    SIE Exam Options pt 5 Quiz

    SIE Exam Options pt 5 Quiz

    SIE Exam Lesson 18 Mutual Funds pt 1 Quiz

    SIE Exam Lesson 18 Mutual Funds pt 1 Quiz

    This is a SIE Exam Lesson 18 Mutual Funds pt 1 Quiz, See how you do if you need help listen to the lesson over.

    Questions covered include



    1. Which of the following is an example of a mutual fund?

    (Select all that apply.)

    A. corporate bond fund

    B. balanced fund

    C. hedge fund

    D. junk bond fund



    2. Which of the following is an example of an income fund?

    (Select all that apply.)

    A. 12b-1 fund

    B. bond income fund

    C. government bond income fund

    D. utility stock income fund



    3. Which of the following is an example of an open-end fund?

    (Select all that apply.)

    A. 12b-1 fund

    B. accumulated fund

    C. fee-based mutual fund

    D. no load fund



    4. Which of the following is a requirement in putting up an investment management company?

    (Select all that apply.)

    A. custodian bank

    B. financial lawyer

    C. investment advisor

    D. underwriter



    5. It is anybody who has the ability to sponsor the mutual fund.

    A. custodian bank

    B. investment advisor

    C. selling group

    D. underwriter



    6. It is the document which outlines everything that the client needs to know about the mutual fund.

    A. Investment Company Act of 1940

    B. investment management company indenture

    C. mutual fund contract

    D. prospectus



    7. Which of the following is contained in the prospectus?

    (Select all that apply.)

    A. systematic withdrawal plan

    B. the name of the investment advisor and the custodian bank and their respective fees

    C. the type of mutual fund

    D. whether the fund is a diversified fund or not



    8. The objectives of the fund is already fixed in the prospectus and can never be changed until all the funds are withdrawn.

    A. True

    B. False



    9. Buying a mutual fund is buying a bond.

    A. True

    B. False



    10. Mutual funds are not traded.

    A. True

    B. False



    SIE Exam Lesson 18 Mutual Funds pt 1 Quiz cont.



    11. Mutual funds allow the investor to switch within the family of funds with no sales charge.

    A. True

    B. False



    12. In an open-end fund, there’s a one-time fee that the underwriter will get for selling the shares in that fund.

    A. True

    B. False



    13. No load funds have no ___.



    A. asking price

    B. bid price

    C. net asset value

    D. sales charge



    14. The maximum sales charge for loaded funds is ___.

    A. 6 ¼ % of the net asset value

    B. 6 ¼ % of the public offering price

    C. 8 ½ % of the net asset value

    D. 8 ½ % of the public offering price



    15. If a loaded fund chooses to charge the maximum sales charge, it is also required to offer ___.

    (Select all that apply.)

    A. breakpoints

    B. letter of intent

    C. principal reinvestment

    D. rights of accumulation



    16. Which of the following is true about breakpoints?

    (Select all that apply.)

    A. It can be obtained by investment clubs.

    B. It is calculated only for individual investors.

    C. It is detailed in the prospectus.

    D. There is an increasing sales charge as the dollar amount goes up.



    17. The maximum length on the letter of intent is ___.

    A. 12 months excluding 30 days backdating

    B. 12 months including 30 days backdating

    C. 13 months excluding the 90 days backdating

    D. 13 months including the 90 days backdating



    18. Which of the following is a characteristic of a diversified fund?

    (Select all that apply.)

    A.

    • 11 min

Customer Reviews

4.3 out of 5
43 Ratings

43 Ratings

ahhhhpickles!! ,

Good information but it can be better

They make software that will remove your “mouth” sounds. Please invest in this tool. You have a good podcast that’s unlistenable because all I hear is spit and mouth sounds

Alwayslearning221 ,

Great Help!

For those of us who like to learn while driving this has been a great find. I like his voice and method of teaching. This has been a great way to help me learn the concepts of the financial markets. The fact that Franz is older and has seen a lot in his career helps add to the lessons. I really like his personal stories to help reinforce the teaching concepts.
I purchased his full course from his website and I am happy that I did!

tigolbids ,

So much fluff/advertising

6mn give or take of fluff at the beginning, then fluff at the end; find a way to shorten it.

wasting time makes for a low value podcast

It’s ok besides that, but the point about fluff is a point that needs to be given a lot of weight

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