Pass the SIE exam on your first try
228 practice questions on capital markets, investment products, customer accounts and securities regulation, each with a plain-English explanation and the rule behind it. Then take full 75-question practice exams with each topic in its real share.
Practice by section
The SIE covers four parts of FINRA's content outline, weighted as shown by the questions in each practice exam. Practice one part at a time, or take a full 75-question practice exam.
Knowledge of Capital Markets 47 questions
The SEC, SROs and other regulators, market participants, primary and secondary markets, offerings and their exemptions (Regulation D, Regulation A, Rules 144, 144A and 147), the Federal Reserve, economic indicators and international factors.
Understanding Products and Their Risks 78 questions
Stocks, rights, warrants and ADRs, Treasury, agency and municipal debt, bond yields and prices, options, mutual funds, UITs and variable annuities, 529 and ABLE plans, DPPs, REITs, hedge funds, ETFs and ETNs, and investment risks.
Trading, Customer Accounts and Prohibited Activities 76 questions
Orders, returns, settlement and corporate actions, account types and registrations, retirement accounts, margin, AML, books and records, privacy, communications, Regulation Best Interest, manipulation, insider trading and other prohibited practices.
Overview of the Regulatory Framework 27 questions
Registration and qualification, continuing education, statutory disqualification, Forms U4 and U5, customer complaints, outside activities, private securities transactions, gifts, non-cash compensation and political contributions.
What full access includes
- All 228 questions across capital markets, products and risks, trading and accounts, and regulation
- An explanation for every answer, with the law or rule behind it
- Unlimited full 75-question practice exams, with each part in its real share
- Practice exams for each part of the content outline
- A review of every question you missed at the end of each exam
- Works on your phone, tablet or computer, with no app or account
Full access
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About the SIE exam
Who takes the SIE exam?
Anyone 18 or older who wants to work in the securities industry. You don't need a firm to sponsor you. To register as a representative you also need to pass a representative exam such as the Series 6 or Series 7, which requires sponsorship by a FINRA member firm.
How is the exam structured?
The SIE has 80 multiple-choice questions, 75 scored and 5 unscored pretest questions mixed in at random, and a time limit of 1 hour 45 minutes. The scored questions come from four parts: Knowledge of Capital Markets (16%, 12 questions), Understanding Products and Their Risks (44%, 33), Understanding Trading, Customer Accounts and Prohibited Activities (31%, 23), and Overview of the Regulatory Framework (9%, 7). There is no penalty for guessing.
What score do I need to pass?
FINRA reports a scaled score, and 70 passes. FINRA doesn't publish how many questions you need right, so our practice exams use 70% correct (53 of 75) as a passing benchmark.
How long is a passing result good for?
Four years. To use it, you need to pass a representative exam and register through a FINRA member firm within that time.
Is this the official exam?
No. This is practice material to help you prepare. The SIE is given by FINRA at Prometric test centers or online with a remote proctor. This site is not affiliated with FINRA.