Frequently Asked Questions About the SIE Exam
The SIE Exam Explained
We're here to guide you as you take your first step toward a successful career in the securities industry. Get answers to our most popular FAQs below.
What is the SIE Exam?
The Securities Industry Essentials (SIE) Exam is an entry-level exam administered by FINRA that assesses a candidate's knowledge of fundamental concepts related to the securities industry. It is required for individuals seeking to enter the securities industry but does not replace the need for additional corequisite qualification exams specific to certain job functions.
Who can take the SIE Exam?
Anyone age 18 or over that is looking to enter the securities industry without holding a representative license can take the SIE Exam. It is also beneficial for students or career changers who want to demonstrate their knowledge to potential employers before applying for a position in the securities industry.
What topics are covered in the SIE Exam?
The SIE Exam covers the following areas: Knowledge of Capital Markets, Understanding Products and Their Risks, Understanding Trading, Customer Accounts, and Prohibited Activities, and Overview of the Regulatory Framework. These topics provide a broad understanding of the securities industry.
Do I need to be sponsored by a firm to take the SIE Exam?
No, the SIE Exam does not require firm sponsorship, making it accessible to anyone interested in pursuing a career in the securities industry.
How long is the SIE Exam, and what is the format?
The SIE Exam consists of 75 multiple-choice questions, and you have 1 hour and 45 minutes to complete it. The exam is administered electronically at a Prometric testing center or online via remote proctoring.
What is the passing score for the SIE Exam?
The passing score for the SIE Exam is 70%.
How do I register for the SIE Exam?
You can register for the SIE Exam through the FINRA website. You'll need to create an account, choose a testing location or opt for remote proctoring, and pay the exam fee.
How much does the SIE Exam cost?
The cost to take the SIE Exam is $80, payable when you register through FINRA's website.
How should I prepare for the SIE Exam?
Preparation options include self-study using textbooks, online courses, practice exams, and live or virtual classes. STC offers a variety of study materials and courses specifically designed to help candidates pass the SIE Exam.
How long should I study for the SIE Exam?
Study time varies depending on your background and familiarity with the material, but most candidates spend about 50-60 hours over a period of 4-6 weeks preparing for the exam.
Can I retake the SIE Exam if I don’t pass on the first try?
Yes, if you don’t pass the SIE Exam, you can retake it after a 30-day waiting period. There is no limit on the number of attempts, but each attempt requires you to pay the registration fee again.
What resources does STC offer to help me pass the SIE Exam?
STC offers comprehensive study materials, including printed study guides, online courses, practice exams, and live or virtual classes. With over 55 years of experience, STC has a proven track record of helping candidates pass their exams on the first try.