SIE exam difficulty report: what real candidates actually miss

SIE topics ranked by real miss rate

Topics need at least 30 real attempts to be ranked. Higher miss rate = candidates get these wrong more often.

The 20 most-missed SIE practice questions

Each question links to a free page with the full answer and explanation. Minimum 10 attempts.

1. 1. If a municipal securities dealer violates an MSRB rule, who has enforcement authority?

   80% missed
   Regulatory Framework · MSRB Rules - Enforcement · 10 attempts · Authored “medium”
2. 2. Which security pays interest semiannually and matures in 2–10 years?

   78.9% missed
   Debt Securities · Treasury Securities - T-notes · 19 attempts · Authored “medium”
3. 3. Under the Bank Secrecy Act, broker-dealers must file a Suspicious Activity Report (SAR) when they detect transactions…

   72.7% missed
   Anti-Money Laundering & Reporting · Anti-Money Laundering · 11 attempts · Authored “medium”
4. 4. A registered representative receives a complaint from FINRA's Department of Enforcement. How many days does the…

   70% missed
   Regulatory Framework · Code of Procedure · 10 attempts · Authored “hard”
5. 5. During a recession, the Federal Reserve would MOST likely take which of the following actions?

   68.8% missed
   Economic Indicators · Expansionary Monetary Policy · 16 attempts · Authored “medium”
6. 6. Which of the following is a LAGGING economic indicator?

   68.4% missed
   Economic Indicators · Lagging Indicators · 19 attempts · Authored “medium”
7. 7. A bond with a par value of $1,000 has an annual coupon rate of 6% and is currently trading at $900. What is the current…

   60% missed
   Debt Securities · Yield Calculations — Current Yield · 10 attempts · Authored “medium”
8. 8. A Treasury note trade settles on Monday, May 10. For accrued interest, what day count convention is used?

   58.3% missed
   Debt Securities · Accrued interest · 12 attempts · Authored “medium”
9. 9. If the government wants to combat high inflation using fiscal policy, it would MOST likely:

   57.1% missed
   Economic Indicators · Contractionary Fiscal Policy · 21 attempts · Authored “hard”
10. 10. An investor purchases 100 shares of stock at $40 per share and pays a $50 commission. What is the investor's cost basis…

    54.5% missed
    Trading & Settlement · Cost Basis · 11 attempts · Authored “medium”
11. 11. An investor holds convertible preferred stock with a conversion ratio of 4:1 (4 shares of common for each preferred…

    52.6% missed
    Equity Securities · Preferred Stock — Convertible Feature · 19 attempts · Authored “medium”
12. 12. Which of the following is a COINCIDENT economic indicator that reflects the current state of the economy?

    50% missed
    Economic Indicators · Coincident Indicators · 18 attempts · Authored “medium”
13. 13. Which feature distinguishes a Unit Investment Trust (UIT) from mutual funds and closed-end funds?

    50% missed
    Investment Companies & Packaged Products · Investment Company Act of 1940 - UITs · 12 attempts · Authored “hard”
14. 14. A hedge fund lock-up period refers to:

    50% missed
    Investment Companies & Packaged Products · Hedge Funds — Lock-Up Periods · 10 attempts · Authored “medium”
15. 15. All of the following are characteristics of stock rights EXCEPT:

    46.2% missed
    Equity Securities · Rights vs Warrants · 13 attempts · Authored “medium”
16. 16. The standard settlement cycle for most U.S. equity trades is:

    46.2% missed
    Trading & Settlement · Settlement Cycles · 13 attempts · Authored “hard”
17. 17. An inverted yield curve, where short-term interest rates exceed long-term rates, is generally considered a predictor of:

    46.2% missed
    Economic Indicators · Yield Curve · 13 attempts · Authored “hard”
18. 18. The discount rate is the interest rate at which:

    45.5% missed
    Economic Indicators · Discount Rate · 11 attempts · Authored “medium”
19. 19. Which of the following is considered a LEADING economic indicator?

    45.5% missed
    Economic Indicators · Leading Economic Indicators · 11 attempts · Authored “medium”
20. 20. Fiscal policy is controlled by which entity?

    43.8% missed
    Economic Indicators · Monetary vs. Fiscal Policy · 16 attempts · Authored “easy”

Does authored difficulty match real performance?

Computed from anonymous, aggregate practice-answer records on Lucky the Banker joined to the public SIE question bank. Answers are counted per question; no names, emails, or per-user data are used or exposed. Questions need at least 10 real attempts to be ranked individually and topics need at least 30 attempts. The report refreshes daily.

• FINRA SIE exam overview — official format: 75 scored questions, 105 minutes, passing score 70.
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