FINRA® Securities Industry Essentials SIE Exam
Securities Industry Essentials (SIE) Exam Prep
To pass your SIE qualification exam, ExamFX has created a comprehensive online training program to ensure that you are prepared to pass your exam on first attempt. We have a variety of study packages available to you, designed to meet your specific needs.
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Securities Industry Essentials Package Comparison
To pass your SIE licensing exam, ExamFX has created a comprehensive online training program to ensure that you are completely prepared on test day. Our training program features multiple study tools to ensure you pass your exam on first attempt. We have a variety of study packages available to you, designed to meet your specific needs.
We guarantee you will pass your licensing exam on the first attempt. If you do not pass the licensing exam after scoring an 80% on the Guarantee Exam, we will refund the cost of the material. Licensing exam must be taken within 3 days after passing the Guarantee Exam. A copy of the licensing exam results and access code must be provided.
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What is the Securities Industry Essentials (SIE) exam and what will it do?
The SIE exam assesses a candidate's basic knowledge of the securities industry. Starting October 1, 2018, FINRA requires that all candidates must pass both the SIE exam and a representative (Rep Level) Top-Off exam. The SIE exam focuses on industry terminology, securities products, the structure and function of the markets, regulatory agencies and their function, and regulated and prohibitive practices.
To view a complete, detailed test outline, please follow the link to the FINRA website and SIE exam outline.
VIEW THE FINRA SIE EXAM CONTENT OUTLINE
FINRA SIE Exam Details
The SIE exam consists of 75 multiple-choice questions and is a total duration of 1 hour and 45 minutes. The minimum passing score is TBD.
About the Securities Industry Essentials Exam
What are the topics covered on the SIE exam?
The SIE exam, which is an introductory level exam, consisting of 75 questions and is broken down into four parts. These topics include:
- Knowledge of Capital Markets
- Understanding Products and Their Risks
- Understanding Trading, Customer Accounts, and Prohibited Activities
- Overview of Regulatory Framework
See below for more detailed breakdown or visit the FINRA link above.
Regulatory Entities, Agencies and Market Participants
- The Securities and Exchange Commission (SEC)
- Self-regulatory Organizations (SROs)
- Other Regulators and Agencies
- Market Participants and their Roles
- Types of Markets
- Economic Factors
- The Federal Reserve Board's Impact on Business Activity and Market Stability
- Business Economic Factors
- International Economic Factors
Understanding Products and Their Risks
- Equity Securities
- Debt Instruments
- Packaged Products
- Municipal Fund Securities
- Direct Participation Programs (DPPs)
- Real Estate Investment Trusts (REITs)
- Hedge Funds
- Exchange-traded Products (ETPs)
- Definition and Identification of Risks
- Strategies for Mitigating Risk
Understanding Trading, Customer Accounts and Prohibited Activities
- Trading, Settlement and Corporate Actions
- Orders and Strategies
- Investment Returns
- Trade Settlement
- Corporate Actions
- Account Types and Characteristics
- Customer Account Registrations
- Anti-money Laundering (AML)
- Books and Records and Privacy Requirements
- Communications with the Public and General Suitability Requirements
- Market Munipulation
- Insider Trading
- Other Prohibited Activities
- Financial Exploitation of Seniors
- Activities of Unregistered Persons
- Falsifying or Withholding Documents
- Prohibited Activities related to maintenance of books and records (e.g. falsifying records and improper maintenance/retention of records)
Overview of Regulatory Framework
- Registration and Continuing Education
- Employee Conduct
- Reportable Events