The SIE covers the basics every securities professional needs: how capital markets and regulators work, securities products and their risks, trading and customer accounts, prohibited activities, and the regulatory framework.
Exam format at a glance
| Format | 75 multiple-choice questions in 1 hour 45 minutes. No firm sponsorship required. |
| Cost | FINRA lists the fee on its SIE page — check FINRA for current pricing. |
| Scoring | Passing score is 70. Practice scores here use the same 70 line. |
| Validity | SIE results are valid for four years. |
Who this exam is for
- Students and career changers entering the securities industry
- New hires at broker-dealers before their Series 6 or 7
- Anyone 18 or older who wants to show basic industry knowledge
How to actually study for it
- Products and their risks are 44% of the exam — know stocks, bonds, options, mutual funds, ETFs and annuities.
- Learn bond math basics: price and yield move in opposite directions.
- Know order types, settlement (T+1), margin basics and account registrations.
- Memorize prohibited practices like churning, front running and insider trading.
Where to go next
Start with the free 10-question diagnostic to see where you actually stand, or go straight to the one-page SIE cheat sheet. The full SIE practice exam covers every domain at the real exam's weighting, with every answer explained.