General Securities Representative SIE Reddit Questions

Step by Step Explanation:

Form U4 Reporting Requirements: Registered persons must disclose criminal charges (excluding minor traffic violations) and material changes such as residential address changes. Gambling-related misdemeanors are considered reportable.

Incorrect Options:

Speeding Ticket: Typically not reportable unless it involves a felony.

Business Telephone Number: Not material for Form U4.

References:

FINRA Form U4 Instructions: FINRA Form U4.

Step by Step Explanation:

Telemarketing Rules (FINRA Rule 3230): Require firms to check the National Do Not Call Registry before contacting individuals, even if those individuals provide their contact information voluntarily.

Incorrect Options:

A: Approval isn’t required for individual follow-ups; compliance with the registry is.

B: While calls must be limited to appropriate hours, the registry check is still mandatory.

C: Written consent does not override the registry requirement.

References:

FINRA Rule 3230 (Telemarketing): FINRA Rule 3230.

Treasury stock refers to shares that were issued by a company and subsequently repurchased by the company. These shares are held in the company’s treasury and are not considered outstanding.

C is correctbecause treasury stock is stock reacquired by the issuer.

Ais incorrect because authorized but unissued stock has never been issued.

Bis incorrect because restricted stock refers to shares issued with restrictions on transferability, not reacquired stock.

Dis incorrect because it incorrectly refers to government securities, not corporate stock.

Redeemable securities are those that can be sold back to the issuer.

D is correctbecause unit investment trusts (UITs) issue redeemable securities.

Cis incorrect because closed-end fund shares are traded on secondary markets, not redeemable.

AandBdo not meet the definition of redeemable securities.