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 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.

The SIE Exam is a co-requisite with:

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
Testing introduced October 1, 2018

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
    Overview of Regulatory Framework 7
***Total Questions*** ***75***

Securities Industry Essentials Exam Study Material

SIE SMART Web & SIE Study Book Bundle

Study Book + SMART SIE Interactive Web Training


SMART SIE Interactive Web Training Program

SMART SIE Interactive Web Training


SIE Study Book

The SIE book by Pass Perfect (not sold alone) is an introductory-level course that will ground you in the fundamental concepts required to help you pass your Securities Industry Essentials Exam.

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!

Interactive SIE Web Study Program

SMART SIE Interactive Web Training is a complete self-study training package delivered online and parallels the SIE Study Book.

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

The program covers all the topics listed on the SIE Exam outline. The course is divided into 10 Chapters that are arranged into three (3) study modules that lead you sequentially through every topic, testing you on each major point.

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

SMART SIE Interactive Web Training

  • Makes the most efficient use of your time, since the content delivery is dependent on your performance
  • Tailors the training experience to your strengths and weaknesses

The program dynamically modifies your learning sequence.  If you’re having difficulty with a major concept, you are presented with the information to be learned in a variety of approaches until you master the topic!  We developed this learning approach by combining the most successful teaching techniques culled form 30-years of preparing students for their securities exams.

NOTE: All FINRA exam are continually being updated. You should take your exam within 120 days of ordering your study materials! NOTE: Under the terms of our End User Licensing Agreement (“EULA”) each DATABANK Practice Exams product can be used only by one person. Once your order is processed by our staff you will be emailed access instructions to the DATABANK.