{"id":"sie-free","timeLimitSec":375,"questions":[{"id":"sief-001","section":"markets","q":"Which act regulates the trading of securities after they are issued, and created the SEC?","options":["Investment Company Act of 1940","Securities Act of 1933","Trust Indenture Act of 1939","Securities Exchange Act of 1934"],"answer":3,"explain":"The 1934 Act covers the secondary market and created the SEC. The 1933 Act covers new issues."},{"id":"sief-002","section":"products","q":"A corporate bond with a 6% coupon trades at 96 ($960). What is its current yield?","options":["6.25%","6.40%","6.00%","5.76%"],"answer":0,"explain":"Current yield = annual interest / price = $60 / $960 = 6.25%. A bond below par has a current yield above its coupon."},{"id":"sief-003","section":"trading","q":"A customer enters a buy stop order. Where is the stop price usually placed?","options":["Below the current market price","At the last closing price","Above the current market price","At the bid price only"],"answer":2,"explain":"A buy stop is placed above the market, often to protect a short position or to buy once a rise is confirmed."},{"id":"sief-004","section":"regulation","q":"Who can take the SIE exam?","options":["Anyone aged 18 or older","Only registered representatives","Only college graduates","Only people sponsored by a member firm"],"answer":0,"explain":"The SIE needs no firm association or sponsorship. The minimum age is 18."},{"id":"sief-005","section":"products","q":"An investor buys 1 ABC Jan 50 call at 3. What is the breakeven at expiration?","options":["$47","$53","$56","$50"],"answer":1,"explain":"Long call breakeven = strike + premium = 50 + 3 = $53."}]}