Securities Industry Essentials Exam - FINRA SIE Exam


What is the Securities Industry Essentials Exam?

FINRA is radically changing the examination process by which securities professionals qualify to register. To reduce redundancy among the exams, the current series exams are being restructured.  Effective October 1, 2018, new registrants will be required to pass the Securities Industry Essentials (SIE or Essentials) exam and subsequently a representative-level qualification exam.  The FINRA SIE exam is an introductory-level covering a broad range of basic securities industry concepts that are fundamental to working in the industry.  One big change is that individuals are not required to be sponsored to take the SIE exam; anyone aged 18 or older may sit for the exam.  This is a great benefit to anyone looking to enter the securities industry, as passing the exam will demonstrate sincerity and basic industry knowledge.  FIRE Solutions will offer SIE study resources with our “No Pass, No Pay” Guarantee.

Passing the Essentials exam alone, however, will not allow a candidate to register with FINRA or perform any securities business.  Each candidate must subsequently pass an additional rep-level qualification exam specific to the candidate’s career path.  These various exams are referred to as specialized knowledge or “top-off” exams.  They will focus on specific job functions required by a given career path, and require the individual to be sponsored by a FINRA member firm.  Passing the Essentials exam and one of the top-off exams will be the equivalent of passing one of the current series exams (i.e. Series 6, Series 7, and so forth).

FIRE Solutions’ SIE study resources will employ our proven methodology to help students pass on their first attempt.  Our materials include online and printable text, executive summaries including key points of each chapter, live and on-demand tutorials, as well as online quizzes, section tests, and comprehensive exams.  Students have unlimited access to FIRE Solutions’ instructors by phone and email.  Additional practice will be available in our free FIRE Drill SIE app.

 

Before October 1, 2018
Registration Categories
On or After October 1, 2018
Series 6
100 Questions
Investment Company Representative (IR)
SIE
75 Questions +
Series 6
50 Questions
Series 7
250 Questions
General Securities Representative (GS)
SIE
75 Questions +
Series 7
125 Questions
Series 22
100 Questions
DPP Representative (DR)
SIE
75 Questions +
Series 22
50 Questions
Series 57
125 Questions
Securities Trader (TD)
SIE
75 Questions +
Series 57
50 Questions
Series 79
175 Questions
Investment Banking Representative (IB)
SIE
75 Questions +
Series 79
75 Questions
Series 82
100 Questions
Private Securities Offerings Representative (PR)
SIE
75 Questions +
Series 82
50 Questions
Series 7 + Series 86 + Series 87
250 Questions + 100 Questions + 50 Questions
Research Analyst (RS)
SIE
75 Questions +
Series 86 + Series 87
100 Questions + 50 Questions
Series 99
100 Questions
Operations Professional (OS)
SIE
75 Questions +
Series 99
50 Questions

 

Securities Industry Essentials Exam

  • Effective October 1, 2018
  • No firm sponsorship required
  • Open to anyone aged 18 or older
  • Demonstrates knowledge of the industry
  • Cost: $60
  • Passing score: TBD
  • Valid for four years

Specialized Knowledge, or Top-Off, Exams

  • Member firm sponsorship required
  • Correlate with current exams
  • Specialized for Series 6 and Series 7
  • Content specific to job function
  • Outlines to be released soon

Information

 

Please see the following FINRA resources regarding the FINRA SIE and Qualification Exam Restructuring:

FINRA website: https://www.finra.org/industry/essentials-exam.

January 2018 FINRA Proposed Rule Change Relating to the New Securities Industry Essentials (SIE) Examination (SR-FINRA-2018-002): https://www.finra.org/industry/rule-filings/sr-finra-2018-002

October 2017 FINRA Regulatory Notice 17-30: https://www.finra.org/industry/notices/17-30

October 2017 FINRA Fall Conference Update: https://www.finra.org/industry/essentials-exam

View the SIE test Outline

View the Series 6 Specialized Knowledge Exam Outline

View the Series 7 Specialized Knowledge Exam Outline