eBook
Guide to the SIE Exam eBook
We developed this exclusive free guide to explain the exam and empower candidates to take advantage of the SIE exam to better position themselves for their big break in the industry.Getting Started in Your Career
May 12, 2026
If you’re planning to earn your first securities license soon, you’ve likely heard that FINRA recently created an exam called the Securities Industry Essentials (SIE) exam. We are receiving an increasing number of questions about this exam. This article answers the most frequently asked questions, equipping you with the information you need to plan for this next step in your career.
The SIE exam is FINRA's general industry exam. It tests basic knowledge of products, risks, the structure and function of the securities industry and its regulators, and regulated and prohibited practices. Although ideal for university students and career changers, anyone can sit for the exam without prior association with a firm.
No. FINRA does not require sponsorship with a firm to sit for the SIE exam. However, to become registered with FINRA and seek a representative level role with an employer, candidates must also pass a revised, specialized knowledge qualification exam (or "top-off"), applicable to their job function with the firm.
Yes, you can take the SIE exam while still in college. With an exam fee ($100) and no firm sponsorship requirement, the SIE exam is ideal for university students who want to get a head start on a financial services careers and, most importantly, stand out to potential employers by proving their mastery of basic industry knowledge and the ability to pass a high-stakes examination.
The enrollment process depends on whether you are currently working for a financial firm:
If you are not sponsored by a firm, you must use the Test Enrollment Services System (TESS) on the FINRA website to pay your fee and open an enrollment window.
Your employer will process enrollment by filing a Form U4. You will receive an email with your CRD number once your window is open.
Once your enrollment window is open, you generally have 120 days to complete the exam. If you do not take the test within this timeframe, your window will expire, and you will forfeit your exam fee.
Scheduling is handled through the Prometric website. You will need to:
Visit the Prometric FINRA page and select Schedule.
Enter your ID (CRD, T, or U ID) and the first four characters of your last name.
Search by zip code to find available dates at local testing centers or select the remote option.
You must present a valid, government-issued ID on test day. It’s very important that the name on your ID exactly matches the name used for your FINRA enrollment. For example, if your ID says "Jonathan" but you registered as "John," you will not be allowed to test.
You will need one of these IDs to schedule your actual exam date with Prometric.
A CRD number is assigned to individuals sponsored by a FINRA-member firm.
T or U ID is assigned to self-enrolled candidates who register through TESS.
Based on FINRA Regulatory Notice 17-30, the following individuals are considered to have passed the SIE exam:
Individuals who registered as representatives before October 1, 2018, and who continue to maintain those registrations on or after October 1, 2018.
Individuals whose registration as a representative was terminated between October 1, 2014 and September 30, 2018, provided they re-register as a representative within four years from the date of their last registration
All other individuals seeking representative-level registration must pass the SIE exam, unless they obtain a waiver.
Like all other securities licensing exams, the SIE is administered by computer at a Prometric testing center.
The range of topics covered on the SIE exam include:
Knowledge of Capital Markets
Understanding Products and their Risks
Understanding Trading, Customer Accounts, and Prohibited Activities
Overview of the Regulatory Framework
The SIE exam has 75 multiple-choice questions, plus 5 additional experimental questions. The breakdown is as follows:
Knowledge of Capital Markets | 16% | 12 |
Understanding Products and their Risks | 44% | 33 |
Understanding Trading, Customer Accounts and Prohibited Activities | 31% | 23 |
Overview of Regulatory Framework | 9% | 7 |
TOTAL | 100% | 75 |
The SIE gives you a head start on a financial services career. Current or potential employers are more likely to notice you because you can prove you have a grasp of basic industry knowledge and the ability to pass a high-stakes examination.
Passing the SIE exam alone does not qualify you for registration with FINRA. You must also pass a revised, specialized knowledge qualification exam (or "top-off") applicable to the desired job function with a firm, and meet other registration requirements. Note that FINRA calls the SIE and the "top-off" exams "corequisites," which means you have to pass both as part of the licensing process, but you can take them in any order. For example, you can take the Series 7 exam before the SIE, but you will still have to take the SIE at some point to be licensed.
To become registered with FINRA and seek a representative level role with an employer, you must also pass a revised, specialized knowledge qualification exam (or "top-off") applicable to your job function with the firm.
The rules for retaking the SIE exam are the same as for all FINRA series licenses. After your first attempt, you are required to wait 30 days before retaking the test. After your second attempt, you again have to wait 30 days to retake the exam. After your third failing attempt, you are required to wait 180 days before retaking the exam.
After passing the SIE exam, you have up to 4 years to pass the representative-level "top-off" exam for registration with FINRA and association with a firm.
The SIE exam acts as a corequisite exam—to become registered with FINRA and seek a representative level role with an employer, candidates must also pass a revised, specialized knowledge qualification exam (or "top-off") applicable to their job function with the firm. FINRA has changed the number of questions required for these new exams from the current exams as you can see in this table:
Investment Company Represent (IR) | Series 6: 50 Questions |
General Securities Representative (GS) | Series 7: 125 Questions |
DPP Representative (DR) | Series 22: 50 Questions |
Securities Trader (TD) | Series 57: 50 Questions |
Investment Banking Representative (IB) | Series 79: 75 Questions |
Private Securities Offerings Representative (PR) | Series 82: 50 Questions |
Research Analyst | Series 86 + Series 87: 100 Questions + 50 Questions |
Operations Professional (OS) | Series 99: 50 Questions |
These representative-level exams test knowledge relevant to day-to-day activities, responsibilities, and job functions of representatives.
Yes you can take the SIE exam online. Unlike many other professional qualification exams, the SIE is available for remote proctoring via Prometric’s ProProctor platform. You must have a webcam, a private room, and meet specific software requirements to test from home.
FINRA enforces a strict 10-day rule for rescheduling or cancelling an appointment to take the SIE exam.
10+ Business Days Notice: You can reschedule or cancel with no penalty.
Less than 10 Business Days: You will be charged a rescheduling fee (typically $40–$80).
Within 2 Business Days: You will likely forfeit your entire exam fee and must pay again to re-enroll.
If you're looking for more information, you can access our SIE Information Center. We've also created FAQs for universities and businesses to answer SIE-specific questions.
eBook
Guide to the SIE Exam eBook
We developed this exclusive free guide to explain the exam and empower candidates to take advantage of the SIE exam to better position themselves for their big break in the industry.
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Launching Your Securities Career eBook
Kaplan Financial Education has partnered with successful securities professionals to create a free eBook for those new or aspiring to the field.
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