SIE FAQ — Common Questions & Quick Answers
Answers to the most common questions about the FINRA SIE exam: format, scoring, timing, retakes, validity window, content weights, test-day rules, online vs. test center, prep strategy, and how SIE pairs with Series 6/7 top‑offs.
This page covers the Securities Industry Essentials (SIE) exam. Policies can change—always confirm any critical details with FINRA and your firm before you test.
Quick facts
- Exam length: 75 multiple‑choice questions
- Time: 105 minutes (no scheduled break)
- Passing score: 70%
- Where: Test center or online (remote proctoring)
- Sponsorship: Not required for SIE (unlike most top‑off exams)
- Validity: Passing SIE is typically valid for 4 years
Frequently asked questions
What does the SIE test?
The SIE focuses on foundational knowledge: products and their risks, market structure & trading, customer accounts and prohibited practices, and the regulatory framework. Content areas are weighted; the largest section is products & risks.
How is the SIE scored?
You receive a scaled score with pass/fail feedback at the end of the session. Detailed content diagnostics may be provided; keep your printout or PDF for planning your retake or next steps.
Do I need firm sponsorship to take SIE?
No. The SIE is open to students and career‑switchers without firm sponsorship. Top‑off licenses (e.g., Series 6 or Series 7) generally require you to be associated with a FINRA member firm and registered on Form U4.
How does SIE relate to Series 6/7 and other exams?
Think of SIE as the co‑requisite foundation. After passing SIE, you must pass one or more top‑off exams (e.g., Series 7 for general securities, Series 6 for investment company/variable contracts) to qualify for particular roles.
How many questions and how much time do I have?
75 questions in 105 minutes. Budget ~80 seconds per item and plan one quick pass plus a review pass.
What’s the passing score?
70%. There’s no penalty for guessing; answer every question.
What is the retake policy if I fail?
FINRA’s standard waiting periods apply: 30 days after the first fail, 30 days after the second, then 180 days for subsequent fails. (Always verify the current rule before scheduling.)
How long is a passing SIE valid?
Typically 4 years. If it expires, you must retake SIE to use it with a top‑off exam.
Can I test online?
Yes—remote proctoring is generally available if your environment meets technical and room‑scan requirements. Otherwise, schedule at a test center.
What ID and materials are allowed?
Government‑issued photo ID is required. You’ll get an on‑screen or test‑center calculator and erasable note materials. Personal items (phones, smartwatches, notes) are not allowed in the testing room.
Is there a formula sheet?
No official formula sheet is provided. Memorize key relationships (yields, options breakevens, POP for mutual funds). See our Cheatsheet.
How should I prioritize study time?
Emphasize Products & Risks first, then Trading/Accounts/Prohibited Practices. Use our Syllabus to track coverage and the Practice app for timed drills and weak‑area targeting.
Are there experimental (unscored) questions?
Exams may include a small number of pilot/unscored items mixed in. Treat every question as scored—there’s no way to tell which are unscored.
Will I see my score immediately?
Yes, you’ll get immediate pass/fail and a score report at the end of your session.
How difficult is the SIE?
It’s an entry‑level exam, but it’s broad. Familiarity with market vocabulary, product structures, and suitability scenarios is key. Many candidates pass with 4–6 weeks of focused prep, but your mileage varies.
Does SIE expire if I pass but don’t take Series 6/7?
Your SIE pass remains valid for its validity window (commonly 4 years). You can pursue a top‑off exam any time within that window, subject to firm sponsorship requirements.
What if I already hold a license? Do I still need SIE?
Certain legacy registrations and waivers may affect requirements, but most new candidates complete SIE + top‑off. Check your firm’s registration team for your specific case.
Can I bring food/water or take breaks?
No scheduled break is built in. Test centers and online proctoring have strict rules; leaving the room may end your exam. Plan accordingly.
Any accommodations available?
Yes. Test accommodations are available with appropriate documentation—apply well in advance of your target date.
How do I schedule?
Create an account with the test provider linked from FINRA’s SIE page, choose test center or online, and pick a date. Seats fill quickly near quarter‑ends—book early.
Study workflow (suggested)
- Skim the Overview and Syllabus.
- Drill 20‑30 questions/day in Practice with timing on.
- End each session with spaced review of misses and our Cheatsheet.
- Do 2–3 full‑length mocks in the final week; review every miss.
Ready to train? Open Practice →
Disclaimers
- This page is for study planning only and not legal or compliance advice.
- Exam specs and policies can change; confirm with FINRA and your firm.