SIE
The SIE is the first exam for a securities career, and anyone 18 or older can take it before joining a firm. It tests capital markets, products and their risks, trading and customer accounts, prohibited practices and the regulatory framework.
FINRA requires the SIE, plus a representative-level exam such as the Series 7, before someone can register with a broker-dealer to sell securities. FINRA, Securities Industry Essentials Exam.
Practice and timed mocks are free, with right or wrong on every answer and your total score. The full analysis is $39, once.
How the exam is built
Owned by FINRA, given by Prometric. Exam fee at last check: $100.
SIE exam
75 scored questions (80 in total), 105 minutes, to pass: a scaled score of 70 out of 100.
| Topic | Share |
|---|---|
| Knowledge of Capital Markets | 16% |
| Understanding Products and Their Risks | 44% |
| Understanding Trading, Customer Accounts and Prohibited Activities | 31% |
| Overview of the Regulatory Framework | 9% |
The official outline: www.finra.org/sites/default/files/2025-10/SIE_Content_Outline.pdf. Checked 2026-10-08.
Sources
- FINRA Securities Industry Essentials (SIE) Examination Content Outline (2025 edition, posted October 2025), retrieved 2026-10-08.
- Exam format and pass rule, retrieved 2026-10-08.
Questions are original, written from the official outline and primary sources under an assessment framework designed by Julian Calvo, Ed.D., M.S. DecipherU is not affiliated with FINRA or Prometric. Every practice question is original and written from FINRA rules, SEC rules and federal law.