Securities Industry Essentials (SIE) Exam

Details

Here are some of the details. This information is updated regularly to reflect FINRA’s adjustments to the rule.

The SIE Exam characteristics:

  • Length: 75 questions + 10 experimental questions
  • Candidates will need to be at least 18 years old

The qualifying exams characteristics:

  • Series 7: 125 questions + 10 experimental questions
  • Series 79: 75 questions + 10 experimental questions
  • Series 86: 100 questions + 10 experimental questions
  • Series 87: 50 questions + 5 experimental questions
  • Series 6: 50 questions + 5 experimental questions
  • Series 57: 50 questions + 5 experimental questions
  • Series 22: 50 questions + 5 experimental questions
  • Series 82: 50 questions + 5 experimental questions

The above numbers are estimates and the final number of qualifying exam questions may change
(as per the FINRA filing)

SIE Exam and all qualifying exams will be pass/fail.
Candidates that pass an exam will not receive their actual score. Time allowed to complete each exam is TBD.

Passing the SIE Exam is not a pre-requisite for taking a qualifying exam.
Passing both in any order satisfies the licensing requirement.

The MSRB staff is supportive of the SIE Exam format for Series 52
and will submit it to their Board for approval. The goal is to coordinate this with the release of the SIE exam.

The NASAA exams (Series 63, 65, 66) will not follow the SIE Exam and qualifying exams format.
However, NASAA will recognize the SIE Exam and a qualified exam as a valid qualification.

FINRA will create a web-based enrollment system
for any person not employed by a FINRA-member firm to schedule the SIE Exam. Neither a U-4 nor U-10 form will be required.

Principal exams are currently not included in the SIE Exam.
A similar format for those exams will be announced next year.