Securities Industry Essentials Exam | SIE Exam

Securities Industry Essentials Exam | SIE Exam

The Securities Industry Essentials Exam, or SIE, is a a new FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information. The SIE Exam is a co-request test for certain FINRA registrations.

Passing the Securities Industry Essentials Exam alone does not qualify an individual for registration with FINRA or to engage in the securities business.

To become registered to engage in the securities business, an individual must pass the SIE Exam AND a qualified exam appropriate for the type of business the individual will engage in. The SIE exam is a co-requisite with the Series 6, 7, 57, 82, and 99 exams.  The individual must be associated with a member firm to take the qualification exam.

The member firm sponsors the individual to take an exam, such as the General Securities Representative (Series 7) Exam. In addition to the candidate passing an exam, the member firm must satisfy other additional requirements, such as conducting a background check or filing a fingerprint card.

You may take the qualification exam first and then take the SIE, however, that is discouraged since the SIE includes topics that the qualification exam builds on.

Study Book + SMART SIE Interactive Web Training
 SIE Online Training
Study Book + SMART SIE Interactive Web Training SMART SIE Interactive Web Training
$125.00 $95.00

Who Can Take the Securities Industry Essentials Exam:

  • Anyone 18 or older
  • Students and prospective candidates interested in demonstrating basic industry knowledge to potential employers
  • Association with a firm is not required
  • You are permitted to take the SIE exam before or after association with a firm
  • You can take your SIE and Specialty Exam (Series 6, Series 7, Series 57, Series 82, Series 99) on the same day

How long is the Securities Industry Essentials Exam Valid:

  • The SIE is valid for four years (4 years)

 75 Questions | 105 Minutes Time Limit
No Prerequisite | $60 | SIE Application

Test Topics & Approximate Test Questions

The Securities Industry Essentials Exam | SIE Exam Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four (4) sections.

Test Topics Approximate Test Questions
Knowledge of Capital Markets 12
Understanding Products and Their Risks 33
Understanding Trading, Customer Accounts and Prohibited Activities 23
Overview of Regulatory Framework 7
***Total Questions*** ***75***



SMART SIE Interactive Web Training is a complete self-study training package delivered online. The program contains the full study text covering all topics tested on this exam. Printed study materials are optional. The course is divided into 10 chapters that are arranged into three study modules.

Smart SIE’s question pool, by far the largest pool of questions offered by any securities exam training firm, has over 4,500 unique questions from which the student can draw virtually unlimited chapter quizzes, mastery exams and simulated practice finals. The program is designed to enable each student to achieve the minimum competency to pass the actual exam.

The program is divided into 3 Modules, the same as our SIE text, and includes an online textbook that leads you sequentially through every topic, testing the user on each major point.

SMART SIE Interactive Web Training:

  • Eliminates need for bulky textbooks
  • Makes the most efficient use of the candidate’s time, since the content delivery is dependent on user performance
  • Tailors the training experience to each user's strengths and weaknesses
  • Delivers consistent effective training at the lowest per-user cost

The program dynamically modifies each student's learning sequence, based on the student's strengths and weaknesses. If a user is having difficulty with a major concept, he or she is presented with the information to be learned in a variety of reinforcing methods until mastery is achieved. Therefore, users who are not having problems move rapidly through the program; those who are having difficulty will move more slowly, but they will meet the minimum competency level needed to pass the examination upon successful completion of SMART SIE. We developed this learning approach by combining the most successful teaching techniques culled from 30 years of preparing students for the securities exams.

Smart SIE includes an online Quick SIE summary guide, as well as an online glossary of defined terms. Audio sound bites that provide additional information about topics being tested in the practice portion of the program are included.

Smart SIE tracks YOUR progress.

Each Smart SIE is a single user program governed by the PassPerfect End User Licensing Agreement  and valid for 9 months from date of purchase or until the user passes the actual exam, whichever comes first. Smart SIE can be renewed for an additional 3 months if the student assigned to the account has not passed the actual exam.

The content for SMART Interactive Web Training is constantly updated. Changes are added to the material as they become available.

Interactive Web Training for the SIE PLUS a Study Book

For those who prefer hard-copy reading, the SIE study manual by Pass Perfect accompanies the online Smart SIE study program and is an introductory-level course that will ground you in the fundamental concepts required to help you pass your Securities Industry Essentials Exam.  The study manual is not sold separately.

This is a 525-page fully illustrated study book written in a lively, informative fashion that eliminates boredom. After each section, you have simulated test questions with detailed explanations. The exams included in the study program give you a simulated test experience so there are no surprises when it’s time to sit for your SIE Exam. 

The SIE study book is divided into 10 Chapters, arranged into 3 Modules. Below is the breakdown:

Module I
Equities Securities
Debt Securities
Packaged Products
Trading Markets

Module II
Customer Accounts
Retirement Plans

Module III
New Issues
Analysis – Basic Tax Rules


Each Module is followed by a Master Exam. By breaking apart the content into three modules, you more easily cover the “more difficult” areas of the examination – Debt, Options and Regulation. Read and study the three modules and then take the sample Final Exams.

Quick SIE Study Guide

Also included with the study book is our unique Quick SIE Study Guide. This pocket-book sized booklet summarizes the test information into key bullet points compressing the content that must be known for the exam. NOTE: The Quick SIE is a complete review that covers ALL of the test information on the Securities Industry Essentials test in the proper learning order and test weighting. This makes it a much better final study tool than flash cards! Nice!