Overview
The Securities Industry Essentials (SIE) exam is run by FINRA, the self-regulatory body for U.S. broker-dealers. It tests general knowledge of the securities industry. It is an entry-level exam and does not by itself qualify anyone to work in securities.
Who can apply
Anyone aged 18 or older can take the SIE. You do not need to be linked to a FINRA member firm, so students and people exploring a career in the industry can take it.
Exam pattern
| Feature | Detail |
|---|---|
| Questions | 75, multiple choice |
| Time allowed | 1 hour 45 minutes |
| Passing score | 70 |
| Test format | At a Prometric test centre or online |
Syllabus
The exam covers four areas.
| Area | Share of exam | Questions |
|---|---|---|
| Knowledge of capital markets | 16% | 12 |
| Understanding products and their risks | 44% | 33 |
| Understanding trading, customer accounts and prohibited activities | 31% | 23 |
| Overview of the regulatory framework | 9% | 7 |
Marking and results
You see a pass or fail notice straight after the exam.
Fees
The SIE fee listed on the official FINRA page in 2026 is $100.
How to apply
There are three routes.
Self-enrolment: create an account in FINRA's test enrolment system and pay by credit card, ACH or voucher. FINRA recommends a Windows laptop or desktop for enrolment.
Through a firm with access to the Central Registration Depository, which can request enrolment for its candidates.
Through an academic institution or training company that buys vouchers and passes them on to individuals.
After the exam
SIE results are valid for four years. Passing the SIE alone does not allow you to register with a FINRA member firm. You must also pass a suitable qualification exam while associated with a member firm before doing securities business.
FAQs
Do I need a sponsoring firm to take the SIE?
No. Anyone aged 18 or older can enrol without being associated with a firm.
How long is an SIE pass valid?
Four years.