SIE Exam Overview & Requirements
Everything you need to know about the Securities Industry Essentials exam. No sponsorship required – the perfect entry point to start your securities career today.
75
Questions
75
Multiple choice questions covering securities fundamentals, regulations, and market structure - no calculations required.
105
Minutes
105
Ample time allocation with approximately 1.4 minutes per question, allowing careful consideration of each answer choice.
70%
Pass Score
70%
Need to answer 53 out of 75 questions correctly to pass. No penalty for wrong answers, so always guess if unsure.
$80
Exam Fee
$80
FINRA exam fee paid directly to testing centers. Lower cost than other securities exams makes it accessible for career exploration.
SIE Eligibility Requirements
Age Requirement
18 years or older
Must be at least 18 years old on the day of the exam. No upper age limit – perfect for career changers at any stage of life.
✓ No Sponsorship Required
Background Check
Clean regulatory record
Cannot be subject to certain regulatory disqualifications. Most candidates qualify easily – criminal convictions don’t automatically disqualify.
✓ Self-Assessment Available
Education Level
No specific degree required
Open to high school graduates, college students, and professionals from any background. Focus on studying, not credentials.
✓ Anyone Can Take It
SIE Exam Format Breakdown
The SIE exam tests foundational knowledge across four key areas of securities industry fundamentals. Here’s exactly what to expect on test day.
Knowledge of Capital Markets
Market structure, economic factors, customer types, prohibited activities, and professional conduct standards.
Understanding Products & Risks
Securities characteristics, investment risks, return calculations, and portfolio diversification concepts.
Trading, Settlement & Corporate Actions
Order types, settlement procedures, margin accounts, and corporate actions like splits and dividends.
Regulatory Framework
Securities Acts, SRO rules, fiduciary responsibilities, and investor protection measures like SIPC.
Study Tip: Products & Risks makes up 59% of the exam – spend most of your study time understanding different securities types, their characteristics, and associated risks.
How to Register for the SIE
Go to FINRA Gateway: Visit the official FINRA website and create your Gateway account. This is your portal for all FINRA-related activities.
Required Information:
• Full legal name (must match government ID)
• Social Security Number
• Date of birth
• Contact information
• Create username and secure password
Time Required: 5-10 minutes
Cost: Free account creation
Personal Information: Fill out basic personal details including employment history, education, and residential addresses for the past 5 years.
Background Questions: Answer questions about:
• Criminal history
• Regulatory violations
• Financial disclosures
• Civil matters
Important: Be completely honest – background issues don’t automatically disqualify you, but dishonesty will.
Time Required: 30-45 minutes
Cost: No additional fees
Pay FINRA Fee: $80 exam fee paid through your Gateway account using credit card or electronic check.
Schedule at Prometric: Once payment processes (24-48 hours), you’ll receive scheduling instructions for Prometric testing centers.
Choose Your Date: Tests available Monday-Friday at most locations. Schedule 1-2 weeks out for best availability.
What to Bring: Government-issued photo ID (driver’s license, passport, etc.)
Time Required: 10 minutes to pay, varies for scheduling
Total Cost: $80
Study Timeline: Most candidates need 2-4 weeks of preparation with 50-75 total study hours.
Recommended Prep:
• Quality prep course (Kaplan, STC, or ExamFX)
• 500+ practice questions
• Simulated exams
• Review sessions
Test Day Tips:
• Arrive 30 minutes early
• Bring valid photo ID
• No personal items allowed in testing room
• Tutorial doesn’t count against your time
• No penalty for guessing
Results: Pass/fail notification immediately after completing exam
Ready to Start Your Securities Career?
The SIE exam is your first step into the securities industry. With no sponsorship requirement and the lowest cost among FINRA exams, there’s never been a better time to start.
Disclaimer: This information is for educational purposes only. Registration requirements and procedures may change. Always verify current requirements with FINRA directly. Testopedia is not affiliated with FINRA or any testing organization.