Examen de práctica SIE
Las preguntas del test siguen en inglés.
Esta es una muestra gratis de 15 preguntas del Securities Industry Essentials, el examen SIE de Estados Unidos, escrita por el equipo de StudyPDF a partir del content outline publicado por FINRA. Sigue las mismas cuatro áreas que usa el examen real: conocimiento de los mercados de capitales, los productos y sus riesgos, el trading, las cuentas de clientes y las prácticas prohibidas, y una visión general del marco regulatorio. La mezcla es de opción múltiple, marcar todas las que correspondan y completar huecos. Responde las 15, después mira tu puntuación y lee la explicación de cada pregunta.
Which body was created by the Securities Exchange Act of 1934 to enforce the federal securities laws?
Todos los tests de Trabajo y licencias
- Test de práctica · 15 preguntas
Examen de práctica Series 7
- Test de práctica · 15 preguntas
Examen de práctica Series 63
- Test de práctica · 15 preguntas
Examen de práctica CPA
Crea el tuyo
Sube tu libro de preparación, tus diapositivas o tus apuntes, o dile a Bo qué quieres estudiar. No necesitas ningún documento para empezar.
Las 15 preguntas de un vistazo
¿Prefieres leer antes de jugar? Abajo están todas las preguntas de la muestra. Las respuestas y explicaciones quedan plegadas hasta que las abras.
1. Which body was created by the Securities Exchange Act of 1934 to enforce the federal securities laws?
- A. FINRA
- B. The Municipal Securities Rulemaking Board
- C. The Securities and Exchange Commission
- D. The Federal Reserve Board
Ver respuesta y explicación
Respuesta: C. The Securities and Exchange Commission
The Securities Exchange Act of 1934 created the SEC and gave it authority over the secondary market, broker-dealers and the exchanges. The Securities Act of 1933 came first and deals with new issues and the disclosure that goes with them. FINRA and the MSRB write rules of their own, but they are self-regulatory organizations, and the SEC has to approve those rules and oversees both.
2. A company sells newly issued shares to investors in an initial public offering. This transaction takes place in the:
- A. Primary market
- B. Secondary market
- C. Third market
- D. Fourth market
Ver respuesta y explicación
Respuesta: A. Primary market
In the primary market the issuer sells new securities and the proceeds go to the issuer. Once those shares change hands between investors, on an exchange or over the counter, that is the secondary market and the issuer receives nothing further. The third market is exchange listed stock traded over the counter, and the fourth market is institution to institution trading with no broker-dealer in the middle.
3. Complete the sentence.
When the Federal Reserve sells securities through open market operations, the money supply _____ and short term interest rates tend to _____.
Opciones para el hueco 1: expands, contracts, is unaffected
Opciones para el hueco 2: fall, rise, stay flat
Ver respuesta y explicación
Respuesta: contracts, rise
Open market operations are the Fed's main day to day tool. When the Fed sells securities, cash moves out of the banking system, so there is less money available and the price of borrowing goes up. Buying securities does the reverse and loosens credit. Rising rates also push the price of existing bonds down, which is why exam questions often chain the two ideas together.
4. A corporation is liquidated. In what order are these claims paid?
- A. Common stockholders, then preferred stockholders, then bondholders
- B. Preferred stockholders, then common stockholders, then bondholders
- C. Common stockholders, then bondholders, then preferred stockholders
- D. Bondholders, then preferred stockholders, then common stockholders
Ver respuesta y explicación
Respuesta: D. Bondholders, then preferred stockholders, then common stockholders
Debt is paid before equity, because a bond is money the company borrowed and promised to repay, while a share is ownership. Inside equity, preferred stock has a stated priority over common. Common stockholders hold the residual claim, so they are paid last and often receive nothing, and that risk is the trade for their voting rights and their unlimited upside.
5. Which statements about preferred stock are true?
Marca todas las que correspondan.
- A. It usually pays a fixed stated dividend
- B. It normally carries the same voting rights as common stock
- C. It ranks ahead of common stock in a liquidation
- D. Its dividend is guaranteed and must be paid every quarter
- E. Its market price tends to move when interest rates move
Ver respuesta y explicación
Respuesta: A. It usually pays a fixed stated dividend, C. It ranks ahead of common stock in a liquidation, E. Its market price tends to move when interest rates move
Preferred stock is a hybrid. The fixed dividend and the sensitivity to interest rates make it behave like a bond, but it is still equity and sits behind every creditor. No dividend is ever guaranteed, since the board has to declare it, although cumulative preferred stacks up missed dividends that must be cleared before common holders get anything. Preferred normally comes without voting rights.
6. Market interest rates rise. What happens to the market price of a bond that is already outstanding with a fixed coupon?
- A. It rises
- B. It falls
- C. It does not change, because the coupon is fixed
- D. It falls only if the issuer is downgraded
Ver respuesta y explicación
Respuesta: B. It falls
The coupon is locked in at issue, so the only way an older bond can compete with new bonds paying more is for its price to drop until its yield is comparable. Price and yield move in opposite directions, and the swing is larger the longer the maturity. That is interest rate risk, and it is present even when the issuer's credit is perfectly sound.
7. Complete the sentence.
The risk that a fixed stream of interest payments will buy less over time as prices rise is called _____.
Opciones para el hueco 1: credit risk, liquidity risk, purchasing power risk, currency risk
Ver respuesta y explicación
Respuesta: purchasing power risk
Purchasing power risk, also called inflation risk, hits long term fixed income hardest because the payment never grows. It is a systematic risk, meaning it affects the whole market and diversification will not remove it. Credit risk is the issuer failing to pay, and liquidity risk is not being able to sell at a fair price when you want to.
8. An investor redeems shares of an open-end mutual fund. What price do they receive?
- A. The price quoted on the exchange at the moment the order is entered
- B. The lowest price the fund traded at that day
- C. The next net asset value calculated after the fund receives the order
- D. The net asset value from the close of the previous business day
Ver respuesta y explicación
Respuesta: C. The next net asset value calculated after the fund receives the order
Open-end fund shares are not traded between investors. The fund issues new shares and redeems existing ones directly, at a price based on the next computed net asset value, which is usually struck at the close of that business day. This is forward pricing, and it exists so nobody can trade on a stale price. Exchange traded funds work differently, because they trade all day at a market price that can drift away from net asset value.
9. The buyer of a call option has:
- A. The right to buy the underlying security at the strike price
- B. The obligation to buy the underlying security at the strike price
- C. The right to sell the underlying security at the strike price
- D. The obligation to sell the underlying security at the strike price
Ver respuesta y explicación
Respuesta: A. The right to buy the underlying security at the strike price
An option buyer pays a premium for a right and can simply let the contract expire worthless. The seller, or writer, keeps the premium and carries the matching obligation if the buyer exercises. A call is about buying the underlying security and a put is about selling it, so the two things to keep straight are which side holds the right and which action the contract covers.
10. A customer buys exchange listed common stock in a regular way trade. When does the trade settle?
- A. The same day as the trade
- B. One business day after the trade date
- C. Two business days after the trade date
- D. Three business days after the trade date
Ver respuesta y explicación
Respuesta: B. One business day after the trade date
Regular way settlement for stocks moved from two business days to one business day in May 2024, under SEC Rule 15c6-1. Settlement is when money and securities actually change hands, which is separate from the trade date, when price and terms are agreed. Some instruments sit outside that rule, and options and government securities run on their own schedules.
11. A customer enters an order to buy 100 shares at 40 dollars, limit. Which statement is correct?
- A. The order must be filled at exactly 40 dollars
- B. The order guarantees execution but not price
- C. The order becomes a market order if the stock trades above 40 dollars
- D. The order can be filled at 40 dollars or lower, and may not be filled at all
Ver respuesta y explicación
Respuesta: D. The order can be filled at 40 dollars or lower, and may not be filled at all
A limit order sets the worst price the customer will accept, so a buy limit fills at the limit or better, meaning lower. The trade off is certainty. A market order gets executed but takes whatever price is available, while a limit order controls the price and may never fill. The order that turns into a market order once a price is touched is a stop order.
12. Complete the sentence.
An account owned by two people, where a deceased owner's share passes automatically to the survivor, is held as _____.
Opciones para el hueco 1: tenants in common, joint tenants with rights of survivorship, a custodial account, a discretionary account
Ver respuesta y explicación
Respuesta: joint tenants with rights of survivorship
With joint tenants with rights of survivorship the surviving owner takes the whole account, so the assets pass outside the estate. Tenants in common is the other joint form, where a deceased owner's share goes to that owner's estate instead. A custodial account has one minor beneficiary and one adult custodian, and discretion describes who is allowed to enter orders, not who owns the assets.
13. Which of the following are prohibited activities?
Marca todas las que correspondan.
- A. Churning an account to generate commissions
- B. Front running a customer's large pending order
- C. Telling a customer that past performance does not predict future results
- D. Guaranteeing a customer against any loss in the account
- E. Disclosing that the firm makes a market in a security being discussed
Ver respuesta y explicación
Respuesta: A. Churning an account to generate commissions, B. Front running a customer's large pending order, D. Guaranteeing a customer against any loss in the account
Churning is excessive trading that serves the representative rather than the customer. Front running is trading ahead of a customer order you know is coming, which misuses information the customer gave you in confidence. Guaranteeing a customer against loss is banned outright, no matter how safe the investment looks. The other two choices are disclosures that firms are expected to make, not violations.
14. Which of the following are the kind of red flags an anti money laundering program is meant to catch?
Marca todas las que correspondan.
- A. A customer who will not provide identifying information at account opening
- B. A series of cash deposits sized just under the reporting threshold
- C. A customer who asks for a copy of a fund prospectus
- D. Money wired in and quickly wired out with almost no trading in between
- E. A customer who updates a mailing address after moving
Ver respuesta y explicación
Respuesta: A. A customer who will not provide identifying information at account opening, B. A series of cash deposits sized just under the reporting threshold, D. Money wired in and quickly wired out with almost no trading in between
The Bank Secrecy Act requires firms to verify who their customers are and to report suspicious activity. Deliberately keeping deposits under the currency transaction report threshold of 10,000 dollars in a day is called structuring, and it is a crime on its own. Money that passes straight through an account with no investing purpose is another classic laundering pattern. Ordinary document requests and routine account maintenance are not red flags.
15. Which statement best describes FINRA?
- A. A federal agency that writes and enforces the securities laws
- B. A trade association with no authority over its members
- C. A self-regulatory organization whose rules must be approved by the SEC
- D. An insurance fund that reimburses investors for market losses
Ver respuesta y explicación
Respuesta: C. A self-regulatory organization whose rules must be approved by the SEC
FINRA is a self-regulatory organization. It writes conduct rules for broker-dealers, runs the qualification exams and can fine, suspend or bar people, but it is not a government agency, and the SEC has to approve its rules and oversees its work. The last choice describes SIPC, which protects customer assets if a brokerage firm fails and never covers losses caused by the market moving against you.
Qué cubre de verdad el examen SIE
El Securities Industry Essentials es el examen de entrada de FINRA para el sector de valores de Estados Unidos. Su rasgo principal es que no necesitas una firma que te patrocine para presentarte. FINRA indica que el examen está abierto a cualquier persona de 18 años o más, o sea que estudiantes, gente que cambia de carrera y personas que todavía no han sido contratadas pueden hacerlo y llevar el resultado a las entrevistas. Evalúa conocimientos de base y no el trabajo diario de un registered representative, así que las preguntas van de cómo está montado el mercado, cuáles son los productos, qué puede salir mal y quién pone las normas.
FINRA publica la estructura en su página del SIE. En el momento de escribir esto indica 75 preguntas, 1 hora y 45 minutos de examen, una nota de aprobado de 70 y un resultado que sigue siendo válido cuatro años. El content outline se divide en cuatro secciones con pesos fijos: conocimiento de los mercados de capitales el 16 por ciento, comprensión de los productos y sus riesgos el 44 por ciento, comprensión del trading, las cuentas de clientes y las prácticas prohibidas el 31 por ciento, y visión general del marco regulatorio el 9 por ciento. FINRA también fija la tasa del examen y la muestra en esa misma página.
Hay dos límites que conviene saber antes de reservar. Esos números pueden cambiar, así que trata finra.org como la única fuente actualizada, no una web de preparación ni esta página. Y aprobar el SIE por sí solo no te permite hacer negocio de valores. Es la primera mitad común del registro, y sigues necesitando una firma más un examen de nivel representative como el Series 7 para poder operar de verdad. Nada de aquí, y nada del examen, es asesoramiento de inversión.
Cómo usar esta muestra y cómo estudiar el temario
Estas 15 preguntas están repartidas por las cuatro áreas de contenido, con un peso parecido al del examen real, así que los productos y el riesgo se llevan la mayor parte. Se quedan a nivel SIE a propósito. Aquí no vas a encontrar juicios de idoneidad, estrategias de opciones ni cálculo de margen, porque eso pertenece a los exámenes de nivel representative. Lo que importa es la base: qué es un valor, quién lo emite, quién lo negocia, qué riesgo lleva y qué conductas están prohibidas.
Haz las 15 de una sentada y sin apuntes, después lee la explicación de todas las preguntas, también de las que acertaste. Acertar adivinando y saber son estados distintos, y la explicación es donde descubres en cuál estabas. Trata una respuesta fallada como un tema, no como un dato. Si fallaste la pregunta del precio del bono y la del riesgo de inflación, repasa una vez el riesgo de tipos de interés y se cierran las dos lagunas, porque son la misma idea vista desde dos lados.
La forma más habitual de llegar mal preparado al SIE es leerse el libro de preparación de cabo a rabo y no ponerse a prueba nunca. La habilidad que mide el examen es el recuerdo, así que empieza a responder preguntas en la primera semana, aunque lo hagas mal. El vocabulario también pesa mucho. Buena parte de los fallos no son de razonamiento sino de una palabra que el candidato se sabía a medias, como la diferencia entre una call y una put o entre tenants in common y joint tenants with rights of survivorship.
Cómo StudyPDF crea tests completos con tu propio material de preparación
Quince preguntas te enseñan dónde flojeas. No pueden prepararte, y un banco genérico de internet rara vez coincide con el curso de preparación que pagaste de verdad.
StudyPDF va por otro camino, parte de tu material. Subes el PDF del libro de preparación del SIE, los dosieres por capítulos de tu proveedor de curso, la exportación de tus tarjetas o el material de formación que te envió tu empresa, y Bo, el agente de estudio, crea tests de práctica completos con esas páginas exactas. Cada pregunta sale de tu material y cada explicación señala de dónde viene la respuesta, así que puedes comprobarlo en la fuente en vez de fiarte del solucionario de un desconocido. Puedes generar tests nuevos tantas veces como quieras, centrar uno en una sola área de contenido como los productos empaquetados o las prácticas prohibidas, y seguir qué conceptos sigues fallando entre intentos. Eso importa en un examen como este, donde los pesos son públicos y puedes dirigir tu esfuerzo a la sección del 44 por ciento.
No hace falta subir nada para empezar. Si tu libro de preparación es de papel, o estás estudiando en la pausa de la comida sin nada a mano, di solo un tema, por ejemplo lo básico de la deuda municipal frente a la corporativa, las señales de alerta de blanqueo de capitales o el papel de la SEC, y Bo escribe un test de práctica sobre eso. Empezar es gratis. StudyPDF explica qué pregunta un examen y no es una fuente de asesoramiento de inversión, fiscal ni legal.
Escrito por el equipo de StudyPDF. Actualizado el 2026-08-19.