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. A broker-dealer is required to maintain books and records, submit financial reports, and register with the SEC. Which…

   90% missed
   Capital Markets & Offerings · Securities Exchange Act of 1934 · 10 attempts · Authored “medium”
2. 2. Under the Bank Secrecy Act, broker-dealers must file a Suspicious Activity Report (SAR) when they detect transactions…

   80% missed
   Anti-Money Laundering & Reporting · Anti-Money Laundering · 15 attempts · Authored “medium”
3. 3. During a period of rising inflation, which asset class historically provides the BEST protection?

   80% missed
   Economic Indicators · Risk — Inflation Impact on Asset Classes · 10 attempts · Authored “hard”
4. 4. A company has $100 million in assets, $40 million in liabilities, and 10 million common shares outstanding. Preferred…

   80% missed
   Equity Securities · Book Value · 10 attempts · Authored “hard”
5. 5. Which of the following is a government-sponsored enterprise, and its securities are NOT fully backed by the U.S.…

   76.9% missed
   Debt Securities · Agency Bonds · 13 attempts · Authored “easy”
6. 6. Which party is primarily involved when ETFs are created or redeemed in large blocks known as 'creation units'?

   75% missed
   Investment Companies & Packaged Products · ETFs - Redemption · 12 attempts · Authored “medium”
7. 7. Which security pays interest semiannually and matures in 2–10 years?

   72.7% missed
   Debt Securities · Treasury Securities - T-notes · 22 attempts · Authored “medium”
8. 8. A registered representative receives a complaint from FINRA's Department of Enforcement. How many days does the…

   72.7% missed
   Regulatory Framework · Code of Procedure · 11 attempts · Authored “hard”
9. 9. Which of the following is a LAGGING economic indicator?

   70% missed
   Economic Indicators · Lagging Indicators · 20 attempts · Authored “medium”
10. 10. An investor writes (sells) 1 XYZ Dec 70 put at $5. What is the investor's maximum potential loss?

    70% missed
    Options · Options — Short Put · 10 attempts · Authored “hard”
11. 11. A put feature in a bond will tend to:

    70% missed
    Debt Securities · Putable Bonds · 10 attempts · Authored “medium”
12. 12. ABC Corp. has 250,000 common shares at $80/share and 50,000 preferred shares at $100/share. What is ABC's total equity…

    70% missed
    Equity Securities · Market Cap · 10 attempts · Authored “hard”
13. 13. Which risk is most likely to erode the real value of fixed income payments from a long-term bond?

    70% missed
    Economic Indicators · Inflation/purchasing power risk · 10 attempts · Authored “easy”
14. 14. If a municipal securities dealer violates an MSRB rule, who has enforcement authority?

    69.2% missed
    Regulatory Framework · MSRB Rules - Enforcement · 13 attempts · Authored “medium”
15. 15. An investor writes a put option. If exercised, their obligation is to:

    69.2% missed
    Options · Options—Put Writing · 13 attempts · Authored “hard”
16. 16. Which tranche in a CMO structure is MOST subject to prepayment risk?

    69.2% missed
    Debt Securities · CMOs · 13 attempts · Authored “hard”
17. 17. A small company wants to raise up to $50 million in a streamlined public offering. Which regulation allows this?

    66.7% missed
    Capital Markets & Offerings · Regulation A+ · 15 attempts · Authored “medium”
18. 18. A customer makes multiple cash deposits of $9,500 each over several days to avoid the $10,000 Currency Transaction…

    66.7% missed
    Anti-Money Laundering & Reporting · Anti-Money Laundering · 12 attempts · Authored “hard”
19. 19. Interest received from most municipal bonds is:

    66.7% missed
    Debt Securities · Municipal bonds · 12 attempts · Authored “medium”
20. 20. For an at-the-money call option, what is the intrinsic value and time value, assuming the premium is $3?

    63.6% missed
    Options · Options - Time Value · 11 attempts · Authored “medium”

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.
• LTB SIE question bank coverage report — counts, section coverage, and integrity checks for the underlying bank.
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