About The SIE Exam
The Securities Industry Essentials® (SIE®) Exam is a FINRA exam for prospective securities industry professionals, made up of one exam split into four sections.
The SIE Exam at a Glance
- Number of Questions: 75
- Format: Multiple Choice
- Duration: 1 hour and 45 minutes
- Passing Score: 70
- Cost: $60
Who Should Take the SIE Exam
- Whether you have decades of experience in finance, are a new grad or even just recently decided to make a career change from something completely unrelated - the SIE is open to pretty much everybody, and firm association is not required to take the SIE. In fact, the SIE Exam is open to anyone age 18 or older.
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What Does The SIE Exam Cover?
The SIE Exam is an introductory-level exam, designed to assess a candidate’s knowledge of basic securities industry information. This exam covers the concepts that are fundamental to working in the industry, such as the types of products and their risks, the structure of the securities industry markets, and regulatory agencies and their functions.
- Description: Knowledge of Capital Markets
- Exam Question Count: 12 Multiple Choice
- Regulatory Entities, Agencies and Market Participants
- Market Structure
- Economic Factors
- Description: Understanding Products and Their Risks
- Exam Question Count: 33 Multiple Choice
- Investment Risks
- Description: Understanding Trading, Customer Accounts and Prohibited Activities
- Exam Question Count: 23 Multiple Choice
- Trading, Settlement and Corporate Actions
- Customer Accounts and Compliance Considerations
- Prohibited Activities
- Description: Overview of the Regulatory Framework
- Exam Question Count: 7 Multiple Choice
- SRO Regulatory Requirements for Associated Persons
- Employee Conduct and Reportable Events
What Happens After I Pass?
But remember - passing the SIE alone does not qualify you to practice in securities business, at a firm. In order to become registered to engage in securities business, an individual must pass the SIE and then a firm-sponsored qualification exam appropriate for the type of business you plan to work in.
Looking for an exam prep course for a qualification exam? Click here