I recently started this SIE course after going through a different one. Reading through the preferred stock section here it says preferred stock dividends are paid semi annually. Everywhere else I’ve seen it as being quarterly or annually but for test purposes to remember quarterly. Here it says for test purposes to remember as semi annually? 
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Hi @Kate, good question. Here’s the relevant section from our SIE chapter on preferred stock:
Dividend payments attract investors to preferred stock. This type of security makes cash dividend payments typically on a semi-annual (twice per year) basis, although some issuers opt for annual or quarterly payments*.
*In test questions, assume preferred stock pays semi-annual dividends unless otherwise specified.
It’s up to the issuer to decide the payout frequently - it’s not a standardized rule. Since it isn’t standardized, the exam question should tell you how often they’re paid!
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