SIE and Series 6 Exam Details

SIE Exam Details

The FINRA® Securities Industry Essentials (SIE) exam is a new FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices.

  • The Essentials exam is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers.
  • Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.
  • Essentials exam results are valid for four years.

 

None

75 multiple-choice questions

1 hours, 45 minutes

Outline of Topics Covered

  • Knowledge of Capital Markets
  • Understanding Products and Their Risks
  • Understanding Trading, Customer Accounts, and Prohibited Activities
  • Overview of Regulatory Framework

 

Additional Details

For more exam details, including fees and passing score, please visit FINRA.

 

Series 6 Exam Details

The FINRA® revised Series 6, Investment Company and Variable Contracts Products Representative Qualification Exam is required of individuals soliciting the purchase or sale of redeemable securities (mutual funds), variable contracts (variable annuities) and insurance premium funding programs (variable life) issued by insurance companies.

 

Exam Restructuring

On October 1, 2018, FINRA restructured the Series 6 exam. New candidates will be required to pass the Securities Industry Essential (SIE) exam along with a Series 6 exam to obtain the Investment Company and Variable Contracts Products registration. Kaplan has study materials available for the SIE exam as well as the Series 6 exam

 

SIE

50 multiple-choice questions

1 hours, 30 minutes

Outline of Topics Covered

  • Seeks business for the broker-dealer from customers and potential customers
  • Opens accounts after obtaining and evaluating customers’ financial profile and investment objectives
  • Provides customers with information about investments, makes suitable recommendations, transfers assets, and maintains appropriate records
  • Obtains and verifies customers’ purchase and sales instructions; processes, completes, and confirms transactions

 

Additional Details

For more exam details, including fees and passing score, please visit FINRA.

 

Best Practices Guide

Kaplan has prepared a Best Practices Guide to help you pass the first time! This guide includes recommended study hours, how to use your study materials effectively, and test-taking tips. Access the guide and other free materials here.

 

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