All You Need to Know About the SIE Exam

As you embark on your journey as a financial representative, you create your licensing to-do list and prepare to tackle the steps necessary to achieve a successful career. Securities Training Corporation is excited to discuss the SIE Exam, a test you must take in the early stages of your career journey. 

What is the SIE Exam?

The Securities Industry Essentials Exam is a FINRA exam that everyone starting a career in the financial services industry needs to take and pass to continue down the road toward licensing. This exam assesses your knowledge of introductory topics related to the industry, and you need to be 18 years old or older to test. Many FINRA exams require sponsorship before taking the exam, but the Securities Industry Essentials Exam does not hold that requirement, which means students who are just finishing college can take the exam. This exam also opens the door to taking other exams, like the Series 6 and Series 7 Exams. You need to pass both the SIE Exam and either the Series 6 and Series 7 Exam to become a registered representative. 

How Do I Prepare for the SIE Exam?

To properly prepare for the exam, you can partner with a professional that provides all the materials and education you need to learn the information you need to succeed in the industry and pass your exam on the first try. STC offers top-of-the-line services that do just that. With their help and resources, you will be able to learn the information, appropriately and effectively study and prepare for the exam, and increase your chances of passing on the first attempt. 

In addition to partnering with STC, you should also: 

  • Give yourself the right amount of study time leading up to your testing date (if you don’t know the industry basics, it’s best to study for at least two months) 
  • Make sure you study the right material, which is why partnering with a professional is a smart move
  • Utilize practice tests 
  • Take appropriate study breaks and don’t overload yourself 
  • Work on fully understanding the material rather than just memorizing it 

SIE Exam Details

This is a multiple-choice exam that has 75 questions. To pass the exam, you need a score of 70 or higher. The registration fee for the exam is $80, and you will be allotted 1 hour and 45 minutes to finish your exam. The SIE Exam dates are available year-round, and you can take it remotely or onsite at a FINRA testing center. 

What Next? 

After taking the exam and receiving a passing score, you need to take the following steps toward becoming a registered representative by taking and passing either the Series 6 or Series 7 qualification exams. To take these exams, you must be sponsored by a broker-dealer. 

If you fail the SIE Exam, you are able to take the test again. However, after the second failed attempt, you must wait 30 days to take it again. After the third failing, you must wait 180 days. 

To learn more about the SIE Exam, or to start your study journey on the right track, contact Securities Training Corporation today!

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