SIE Exam FAQs

The SIE Exam should be taken by anyone who is seriously considering a career in financial services. Passing the SIE Exam is your first step to a career with most financial services companies and your ticket to become a licensed stock broker or investment adviser.

Candidates who wish take the Securities Industry Essentials Exam will not need be sponsored by a FINRA member firm to take the SIE Exam. Candidates for the first time will be able to take a FINRA administered Exam without being employed by a FINRA member firm. The SIE Exam is a great first step for anyone who wants to pursue a career in the financial services industry. Passing the SIE Exam will be a great addition to anyone’s resume and a great way to show a perspective employer that you are serious about a career in financial services.

The Securities Industry Essentials Exam will be presented in a multiple choice format. Each question will have four possible answers presented in A B C D format. The Exam is designed to test the candidates mastery of general securities industry knowledge. Candidates must answer every question on the Exam and will not be allowed to proceed to the next question until an answer has been selected.

Candidate who take the Securities Industry Essentials Exam will get the results of the Exam immediately upon completion. Passing the SIE Exam will qualify a candidate to take the Series 6, Series 7, Series 22, Series 57, Series 79, Series 82, Series 86/87, or Series 99 Exams. Candidates who do not pass the Exam will be required to wait 30 days to retest.

No, you will not be licensed to represent a financial institution or to conduct investment business solely based upon passing the securities industry Essentials Exam. You must pass a top off Exam prior to transacting any securities related business and prior to functioning in any capacity that requires full registration. You will be required to pass one or more of the following top off exams; Series 6, Series 7, Series 22, Series 57, Series 79, Series 82, Series 86/87, or Series 99 Exams.

Candidates who are seeking to take the SIE Exam must make an appointment to take the Exam at an approved testing center. Most areas in the US have a significant number of Exam centers approved to administer the SIE Exam. Person and Prometrics testing centers have large number of convenient locations and are open every business day. Some Exam centers are also open Saturday and Sunday as well. You may take your Securities Industry Essentials Exam any day the test center is open. To ensure you are able to take the SIE Exam on a date that is convenient for you. Contact the testing center in your area 3-4 weeks in advance.

Once the Securities Industry Essential Exam is passed the candidate will be required to take a top off Exam to function as a registered person with a FINRA member firm. Unlike the SIE Exam candidates must be sponsored to take the Series 6, Series 7, Series 22, Series 57, Series 79, Series 82, Series 86/87, and Series 99. Which top off Exam you will be required to take will depend on what position you will hold at your firm. Your employer will let you know which Exam you are required to pass.

For most candidates reading an SIE Textbook completely and taking as many SIE Exam practice questions will prove to be enough to pass the Exam. Reading the SIE textbook several times and taking a large amount of practice questions and sample final Exams will be the key to success on the SIE Examination. The SIE textbook is designed to provide candidates with the knowledge required to pass the Securities Industry Essential Examination. The SIE Exam prep software and practice questions are designed to help a candidate master the application of the knowledge on the SIE Exam.

Individuals who have been registered with a FINRA member firm and who currently hold a Series 6, Series 7, Series 22, Series 57, Series 79, Series 82, Series 86/87, or Series 99 will be exempt from taking the Securities Industry Essentials Examination.

If you have been registered within the last 24 months you will not be required to requalify by Examination. This 24 month window is your grace period to return to the industry without having your registration lapse due to a break in employment. If you have been out of the business for more than 24 months but for less than 48 months, you will only be required to take the top off Exam for the Series 6, Series 7, Series 22, Series 57, Series 79, Series 82, Series 86/87, or Series 99 to be reinstated and to be fully registered.. You will not have to take the SIE Exam. If you have been out of the business for more than 48 months you will be required to take both the Securities Industry Essentials Exam as well as the top off Exam required by your position with your firm.