SIE (Securities Industry Essentials) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Ace your Securities Industry Essentials (SIE) Exam with Examzify! Our practice exam features flashcards, multiple-choice questions with detailed explanations, and insightful tips to ensure your success.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which act's main purpose does NOT include keeping the investing public fully informed when a security is being introduced in the primary market?

The Uniform Securities Act
The Securities Act of 1933
The Securities Exchange Act of 1934
Dodd-Frank Wall Street Reform and Consumer Protection Act

The correct answer is: The Uniform Securities Act

The Uniform Securities Act does not have a main purpose of keeping the investing public fully informed when a security is being introduced in the primary market. Instead, its main purpose is to regulate the securities industry at the state level, including registration and licensing of securities firms and professionals, and enforcement of state securities laws. The other options, B, C, and D, are all federal laws with the main purpose of protecting investors by requiring companies to disclose information about securities offerings and preventing fraud in the securities markets.