What is sie exam good for

The SIE Exam is the first in a series of exams required for anyone who wants to sell, trade, or advise clients regarding securities. Anyone who is interested in a career in financial planning would benefit from learning this information and passing the test.

Is the SIE exam worth taking?

The SIE is a great investment for professional and personal reasons if you have the time. You’ll never regret what you learn in the process and the credential that goes with it.

What is the pass rate for the Sie exam?

You need a score of 70% or better to pass the SIE. As of August 31, 2019, the overall passing rate of the SIE exam was 82% out of 67,445 exams administered. Of the 58,264 candidates who were taking it for the first time, the pass rate was 74%.

How hard is sie exam?

You need to get a score of 70%, or higher, to pass. During your SIE exam prep, be honest with yourself about how much knowledge you have going in. If you have a hard time defining a “stock” or “bond” for example, then you should expect to take about two months to study on average.

Is the SIE a certification?

The SIE Exam is a required qualifications exam administered by FINRA. It tests basic information including products, risks, the structure & function of the securities industry & its regulatory agencies, and knowledge of regulated & prohibited practices.

How many hours should you study for the Sie?

In order to pass the SIE exam, you will likely need to dedicate many hours over the course of weeks (or months) to study the material. While everyone retains information a bit differently, it’s recommended that you spend at least 50 hours seriously studying before your exam.

Who needs Sie?

The SIE is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to prospective employers. Association with a firm is not required to take the SIE, and results are valid for four years.

How long does it take to study Sie?

As the springboard to your financial industry career, it’s very important to study efficiently for the SIE Exam. Achievable Blog recommends studying for 20 to 50 hours and for approximately two months. However, if you have experience in the field, you can expect your study time to be less than that.

Can you take Sie exam online?

The SIE, S6 and S7 can be taken at a test center or online. Any candidate interested in taking other FINRA exams online must complete and submit the FINRA Online Exam Administration Request Form before scheduling an exam appointment.

Is Sie harder than series 6?

Overall, the Series 6 difficulty level is somewhat comparable to the SIE exam difficulty. Both tests are certainly digestible, but require enough memory work to weed out anyone not willing to put in sufficient effort. It takes most of our students about 1 to 1.5 months to study for the exam.

Article first time published on

What happens if you fail Sie?

Yes, if you fail the SIE, you will be permitted to retake it, but you will have to wait 30 days. FINRA is maintaining its 30/30/180 day rule with respect to the SIE. This means that if you fail the SIE you must wait 30 days to retest.

Why are there 85 questions on the SIE?

To ensure that new questions to be introduced in future exams meet acceptable standards prior to inclusion, you answer 10 additional, unidentified questions that don’t count toward your score. In other words, you get 85 questions to answer, but only 75 are scored.

Is Kaplan Good for Sie?

Bottom Line: Kaplan is a solid, dependable company that would do a great job of helping any student prepare for their SIE exam.

What should I do after Sie exam?

Once you have passed the SIE exam, you must complete the series 6 top off exam in order to become fully licensed to sell investment company securities and variable annuities. Keep in mind that unlike the SIE exam you must be sponsored and employed by a FINRA member firm.

What happens after passing Sie exam?

What happens after I pass the SIE exam? To become registered with FINRA and seek a representative level role with an employer, you must also pass a revised, specialized knowledge qualification exam (or “top-off”) applicable to your job function with the firm.

Can you use a calculator on the SIE exam?

The SIE Exam cost is $60 and is paid directly to the testing center. You cannot bring in anything with you—pen, pencil, calculator, cell phone, smart watch, paper—everything is prohibited. FINRA takes cheating seriously (and rightfully so), so DO NOT CHEAT.

How long do Sie results take?

Upon completing your online test, you will receive your unofficial pass or fail notification on screen. Within three business days, your test results will be validated, emailed to the address provided at the time of scheduling and posted to FINRA’s systems.

Do I need to be sponsored to take the SIE?

The SIE exam requirements are simple and straightforward: anyone 18 years of age or older can sit for the exam. You do not need to be sponsored by a member firm to take the SIE. However, to take representative level qualification exams you must be sponsored by a member firm.

Does the SIE look good on a resume?

For most positions related to securities (stocks, bonds, mutual funds, etc.), the SIE is one of several exams that candidates must pass to be properly licensed and work for a financial company. In addition to being a prerequisite for these roles, the SIE is an excellent introduction to the world of finance.

What is the difference between SIE and Series 7?

For example, while both cover options strategies and calculations, the SIE focuses more on basic options positions, such as single positions and hedging strategies, whereas the Series 7 Top-Off goes a step further and tests on advanced positions, such as spreads and straddles.

How long is the SIE exam valid?

The SIE will be valid for four years from the date that you pass the exam. This means that if you become employed by a broker-dealer during the four-year period and need to become registered as a general securities representative, you will not need to take the SIE again.

Do I have to take the SIE before the Series 7?

SIE is a co-requisite for the Series 6 and Series 7 exams and can be taken any time before or after the Top-Off exams (within 4 years). We recommend, however, that you pass your SIE exam first and then prepare for Series 6 or 7 Top-Off.

What is the Series 7 top-off exam?

The Series 7 top-off exam has a heavy emphasis on suitability and scenario-based questions, as well as on advanced concepts, such as complex options positions, tax rules, and margin accounting. Although the exam is challenging, our students have had great results.