Passing the Securities Industry Essentials (SIE) Exam can be challenging, but it’s certainly less so with the right approach to study and preparation.
Passing the SIE Exam is your first step to becoming a securities industry professional, so you need to know what’s on the test to be prepared. As a basic overview, the exam consists of 75 multiple-choice questions, with an additional 10 random pre-test questions that don’t affect your overall score.
You’re given one hour and 45 minutes to finish the test. Of the 75 questions, 12 cover capital markets; 33 are based on products and their associated risks; 23 related to customer accounts, trading and prohibited activities; and then 7 will focus on regulatory rules.
For more details about what’s on the test, check out the SIE Exam content outline on the FINRA website. take a look at some of these things you can use for a SIE exam study guide
Studying for the SIE Exam
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. Review the FINRA content outline to get a full understanding of the test’s structure and content. This can help you by identifying what you should study.
Helpful resources for study include study manuals, such as the one provided by STC —Securities Industry Essentials Examination Course: SIE Exam Prep and also Pass the SIE. Some test-takers find that creating and studying flashcards promotes information retention. Another helpful idea is to teach what you know to a family member, a friend, or a co-worker. This process can increase your knowledge and retention of the information.
Once you feel confident in your knowledge of the material, make it a priority to take practice tests. Many are available, including one that’s offered by FINRA. As you take these tests, set a goal of scoring 80% or higher. This will not only give you some confidence on testing day, it can also help you achieve a higher score on the actual test.
SIE Exam Testing Day Tips
According to FINRA, it’s best to arrive at the testing center 30 minutes early so you have enough time to check in. You’ll need to bring one government-issued form of identification that has your signature and picture. This can be your driver’s license, military ID, or passport. Make sure the name on your ID is the exact same name that appears on your test. You may be asked to give the email address you used to register.
Before being allowed to test, you should be prepared to empty your pockets and place your personal belongings in a locker. After you store your items, you’ll have your picture taken, your ID will be scanned, and you’ll be asked to go through a fingerprinting process. For more about SIE Exam testing rules and regulations, visit Prometric.com.
All in all, listen to your mind and body. Take breaks when you need to, get the rest you need, eat brain-healthy food, drink plenty of water, and study until you feel confident in the material.
For more information on how to properly study for and pass the SIE Exam, contact Securities Training Corporation. Get the resources you need to create a SIE exam study guide and to guarantee the best studying and testing experience possible.
FAQs About Developing a Study Plan for the SIE Exam
What is the SIE Exam?
The Securities Industry Essentials (SIE) Exam is a foundational test for aspiring securities industry professionals. It covers key concepts, including capital markets, products and risks, customer accounts, and regulatory framework.
What does the SIE Exam consist of?
The SIE Exam includes 75 multiple-choice questions that count toward your score. Additionally, there are 10 pre-test questions that do not impact your result. Test-takers have 1 hour and 45 minutes to complete the exam.
What do the questions of the SIE Exam focus on?
The SIE Exam scoring breakdown is:
- 12 questions on capital markets
- 33 questions on products and their risks
- 23 questions on customer accounts, trading, and prohibited activities
- 7 questions on regulatory rules
How long should I study for the SIE Exam?
It is recommended to study for 20 to 50 hours over a span of approximately two months. Those with prior experience in the field might require less preparation time.
What are the best study strategies for the SIE Exam?
- Use study guides: Materials like STC’s SIE Exam Prep Guide are highly recommended.
- Create flashcards to retain key concepts.
- Teach others what you’ve learned to reinforce your understanding.
- Take practice tests, aiming for an 80% score or higher to build confidence and improve your performance.
Are there any recommended practice resources for the SIE Exam?
Yes, there are several practice tests available, including one from STC located here. Practice tests simulate the exam format, helping you prepare effectively and spot areas needing improvement.
What should I do on the day of the exam?
- Arrive at the test center 30 minutes early for check-in.
- Bring a government-issued ID that matches the registration name (driver’s license, passport, or military ID).
- Be prepared for security measures, including fingerprinting and storing personal belongings in a locker.
How do I manage stress while studying for the SIE Exam?
Listening to your body and mind is key:
- Take regular breaks.
- Eat brain-healthy foods.
- Stay hydrated.
- Ensure adequate sleep.
- Practice self-care to stay motivated and confident.
Can the SIE Exam be taken online?
Yes, the SIE Exam can be taken online via FINRA’s remote testing platform or at a testing center. Check the Prometric website for specific regulations and requirements.
How will passing the SIE Exam benefit me?
Passing the SIE Exam sets you apart as a qualified candidate in the securities and financial services industry. It demonstrates your foundational knowledge of key topics, making you a strong contender for roles or further certifications in the field.
Where can I find more resources to study for and pass the SIE Exam?
STC gives you access expert-designed resources, study guides, and practice tests tailored to help you succeed. Here are a few to help you get started:
- Our SIE Exam Headquarters
- Article: The Importance of SIE Exam Prep: Your Gateway to a Securities Industry Career
- Guide: Free Interactive SIE Exam Study Guide
- Article: Your Complete Guide to Everything You Need to Know About the SIE Exam
- Infographic: SIE Exam Key Facts and Figures
- Article: Common Mistakes to Avoid When Studying for the SIE Exam
- Article: Why Obtaining Your SIE in College Matters
Prepare to Pass the SIE Exam Today
STC is here to help you prepare for and pass the SIE Exam on your first try. Check out our SIE Exam training to learn how to get started toward success.
