The FINRA Securities Industry Essentials (SIE) exam tests fundamental securities-related knowledge and is a co-requisite to representative-level “top-off” exams such as the Series 6, Series 7, and Series 79. Passing the SIE is a great way to get started in the securities industry because anyone 18 years or older can take the exam – you do not need to be employed or sponsored by a broker-dealer. Once you pass the SIE and are hired by a broker-dealer, you can take a representative-level exam and become a registered representative in the securities industry. Tuition includes the required study manual which will be sent to the student directly if attending a webinar, or picked up in the classroom on day 1 of face to face classes.
The Securities Industry Essentials (SIE) exam serves as an entry-level test for individuals pursuing a career in the securities industry. It evaluates fundamental knowledge of financial products, market structures, regulations, and unethical practices. Successfully passing the SIE is required before obtaining certain industry licenses, such as the Series 7.
Key Details About the SIE Exam:
Purpose:
The SIE exam evaluates a candidate’s understanding of fundamental securities industry concepts, including various financial products and their risks, market structures, the roles of regulatory organizations, and unethical practices.
Eligibility:
Anyone 18 years or older can take the SIE exam, and no firm sponsorship is required.
Content:
The exam covers topics such as:
- Different types of securities and their associated risks
- Market structure and how it operates
- The roles and responsibilities of regulatory bodies like the SEC and FINRA
- Unethical and prohibited practices
- Ethical standards in the industry
- Key regulatory guidelines and compliance frameworks
Exam Format:
- 75 multiple-choice questions
- Time limit: 1 hour and 45 minutes
- Minimum passing score: 70%
- Exam fee: $80
Benefits of Passing the SIE Exam:
- Showcases fundamental knowledge of the securities industry
- Enhances job prospects by making you a stronger candidate
- Qualifies you to register as a financial securities representative
Exam Validity:
- SIE exam results remain valid for four years
