STUDY FOR THE SECURITIES INDUSTRY ESSENTIALS EXAM (SIE) EXAM

When preparing for the Securities Industry Exam (SIE), don't overlook Municipal Fund Securities. More than one SIE candidate has sat for test only to be surprised that there were questions on Municipal Fund Securities. First of all, you need to know the different types of these securities, such as 529 Plans, Local government investment pools, and ABLE accounts. Then you need to know the different characteristics of each of these three types. How do I know that the SIE Exam contains questions on Municipal Fund Securities? I know this because FINRA's Content Outline for the SIE Exam specifically identifies these securities in Section 2.1.5 as covered by the test. Bob Eder in his Study for the Securities Industry  Essentials Exam (SIE) discusses Municipal Fund Securities in detail. Here is a sample of Bob Eder's treatment: Municipal Fund Securities                         ...

How many candidates walking in to take the Securities Industry Essentials exam have never heard about municipal fund securities? I bet a lot. Why? Because many SIE study guides make no mention of them. FINRA's Content Outline clearly indicates that FINRA considers knowledge of municipal fund securities to be required for the SIE exam. See 2.1.5 of FINRA's Content Outline. For example, what are the three types of municipal fund securities? Answer: the three types are local government investment pools, 529 programs, and Able accounts. Question: what is the purpose of Able accounts? Bob Eder has a full description of municipal fund securities, including Able accounts, on pages 119 to 124 in his Study for the Securities Industry Essentials Exam . Here is Bob Eder's description of Able accounts: "ABLE Programs (2.1.5) "Can states or their agencies establish tax-advantaged programs to help disabled individuals maintain their health and independence? Yes! Monies put in...

Are you planning on taking the Securities Industry Essentials Exam, or the SIE? Then make sure that you know the important changes made to IRA plans and 529 education accounts by the Secure Act of 2020. Here are some of the new changes. Secure Act of 2020 —This act allows a holder of an IRA to delay until age 72 (increased from 70 ½) the mandatory obligation to begin withdrawing funds, or taking the required minimum distribution (RMD). It also allows using monies in a 529 education savings plan to pay off $10,000 of the beneficiary's student debt, and another $10,000 for each sibling of the beneficiary for the purpose of   paying off the siblings' education indebtedness. If you are fuzzy about these new provisions, meaning that you are unable to confidently explain, for example, when a person must begin taking required minimum distributions (RMD) from his/her Traditional IRA, then you need to do more serious study preparation.  Bob Eder J.D.'s book  Study for the S...