Series 66 – Uniform Combined State Law Securities Practice Questions
The free Series 66 – Uniform Combined State Law questions that deal with securities, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #5
Which regulatory body oversees the Securities Investor Protection Corporation (SIPC)?
Correct answer: C
Explanation
The SEC oversees the SIPC, which protects against the loss of cash and securities in the event of a brokerage firm's failure.
Question #7
What is the maximum penalty for insider trading under the Securities Exchange Act?
Correct answer: A
Explanation
The maximum civil penalty for insider trading can be up to 3 times the profit made or loss avoided, and as high as $10 million for individuals or $100 million for companies.
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