SIE

The Securities Industry Essentials (SIE or Essentials) Exam, scheduled for availability beginning October 1, 2018, is a new FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate's knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices.

The exam will act as a stepping-stone into the industry and FINRA will still require member-firm sponsorship for licensing. This means a "top-off" exam will be required after sponsorship.

Key Features

The Essentials exam is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers.

Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.

Essentials exam results are valid for four years.

The Exam at a Glance

• Securities Industry Essentials Exam (As of October 1, 2018)
  Number of Items:  75
• Format: Multiple Choice
• Duration: 105 minutes
• Passing Score: TBD
• Cost: $60 (proposed 

Content Outline

 The Securities Industry Essentials (SIE) Exam Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four sections. 

(1) Knowledge of Capital Markets 16% - 12 Questions 

(2) Understanding Products and Their Risks 44% - 33  Questions

(3) Understanding Trading, Customer Accounts and Prohibited Activities 31% -23 Questions

(4) Overview of Regulatory Framework 9% - 7 Questions