SIE (Securities Industry Essentials) 2025 – 400 Free Practice Questions to Pass the Exam!

Question: 1 / 400

At the time of issuance, which security normally has the longest period to expiration?

Bonds

Common stocks

Preferred stocks

Warrants

Warrants generally have the longest period to expiration at the time of issuance. A warrant is a type of security that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specific price, on or before a certain date in the future. Bonds have a fixed maturity date and common and preferred stocks have no predetermined expiration date, making warrants the correct answer.

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