Wrong-answer intelligence: the distractors candidates select
A wrong answer becomes useful when you can see the tempting alternative, the sample behind it, and the rule that resolves the distinction.
This report joins privacy-safe aggregate multiple-choice selections to Lucky the Banker’s checked-in public securities question banks. It reports selection behavior—not invented claims about what individual learners were thinking.
Practice data through 2026-08-02.
The wrong choices that clear both thresholds
Ranked by selections of the leading wrong choice. Every card reports answer records and distinct learners separately.
Which of the following is a LAGGING economic indicator?
B. Initial claims for unemployment insurance
Selected in 10 records by 5 distinct learners—76.9% of wrong answers to this question.
A. Average prime rate charged by banks
Overall miss rate: 76.5% (13 of 17 answer records).
Why it can look plausible—without inventing motive
This distractor presents a competing answer: “Initial claims for unemployment insurance” The checked-in explanation resolves that contrast: “The average prime rate is a lagging indicator because banks adjust it after broader economic conditions have changed. Initial unemployment claims, building permits, and stock indexes are leading indicators that tend to move before the overall economy.” Selection data cannot establish an individual’s reasoning, so this describes the textual contrast rather than assigning a motive.
Correct rule
The average prime rate is a lagging indicator because banks adjust it after broader economic conditions have changed. Initial unemployment claims, building permits, and stock indexes are leading indicators that tend to move before the overall economy.
Under the Bank Secrecy Act, broker-dealers must file a Suspicious Activity Report (SAR) when they detect transactions involving what minimum amount that may involve suspicious activity?
A. $10,000
Selected in 10 records by 7 distinct learners—83.3% of wrong answers to this question.
C. $5,000
Overall miss rate: 80% (12 of 15 answer records).
Why it can look plausible—without inventing motive
This distractor presents a competing answer: “$10,000” The checked-in explanation resolves that contrast: “Broker-dealers must file a SAR for transactions of $5,000 or more that the firm knows, suspects, or has reason to suspect involve illegal funds, are designed to evade reporting requirements, or have no apparent lawful purpose. SARs are filed with FinCEN. The $10,000 threshold applies to Currency Transaction Reports for cash transactions, not SARs.” Selection data cannot establish an individual’s reasoning, so this describes the textual contrast rather than assigning a motive.
Correct rule
Broker-dealers must file a SAR for transactions of $5,000 or more that the firm knows, suspects, or has reason to suspect involve illegal funds, are designed to evade reporting requirements, or have no apparent lawful purpose. SARs are filed with FinCEN. The $10,000 threshold applies to Currency Transaction Reports for cash transactions, not SARs.
A Treasury note trade settles on Monday, May 10. For accrued interest, what day count convention is used?
B. 30/360
Selected in 8 records by 6 distinct learners—88.9% of wrong answers to this question.
A. Actual/actual
Overall miss rate: 60% (9 of 15 answer records).
Why it can look plausible—without inventing motive
This distractor presents a competing answer: “30/360” The checked-in explanation resolves that contrast: “Treasury securities use the actual/actual day count for accrued interest, meaning actual days elapsed in period and actual days in the year.” Selection data cannot establish an individual’s reasoning, so this describes the textual contrast rather than assigning a motive.
Correct rule
Treasury securities use the actual/actual day count for accrued interest, meaning actual days elapsed in period and actual days in the year.
Fiscal policy is controlled by which entity?
A. The Federal Reserve Board
Selected in 5 records by 5 distinct learners—71.4% of wrong answers to this question.
D. The U.S. Congress and the President
Overall miss rate: 46.7% (7 of 15 answer records).
Why it can look plausible—without inventing motive
This distractor presents a competing answer: “The Federal Reserve Board” The checked-in explanation resolves that contrast: “Fiscal policy — government spending and taxation — is controlled by Congress and the President. Monetary policy — managing the money supply and interest rates — is controlled by the Federal Reserve (through the FOMC). This distinction is critical for the SIE exam. The SEC regulates securities markets and has no role in economic policy. The FOMC is part of the Federal Reserve system and handles monetary policy.” Selection data cannot establish an individual’s reasoning, so this describes the textual contrast rather than assigning a motive.
Correct rule
Fiscal policy — government spending and taxation — is controlled by Congress and the President. Monetary policy — managing the money supply and interest rates — is controlled by the Federal Reserve (through the FOMC). This distinction is critical for the SIE exam. The SEC regulates securities markets and has no role in economic policy. The FOMC is part of the Federal Reserve system and handles monetary policy.
Methodology
Computed from multiple-choice Lucky the Banker quiz-answer records joined to the checked-in public securities question banks. Only A–D selections whose stored correctness agrees with the current checked-in answer key are used. Challenge/free-response rows, unknown questions, missing identities, inconsistent rows, and configured internal or QA users are excluded. A question needs at least 15 answer records from 5 distinct users; its displayed distractor separately needs at least 5 selections from 5 distinct users. User identifiers are used only inside the aggregation boundary to enforce thresholds and are never returned.
Current gate: 15+ answers from 5+ learners per question, and 5+ selections from 5+ learners for the displayed distractor.
Limitations
- • This is usage data from Lucky the Banker practice, not a representative sample of all securities-exam candidates.
- • Selection frequency shows what was selected, not why an individual selected it; the evidence-based contrast uses only the checked-in question and explanation.
- • Repeated answers by the same user count as answer records, while the separate distinct-user threshold prevents one person from qualifying a result alone.
- • Questions or distractors below either privacy/sample threshold are withheld rather than extrapolated.
- • Question wording and answer keys can change; inconsistent stored rows are excluded against the current checked-in bank.