FINRA SIE EXAM PREP
The first step to becoming
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Passing the Securities Industry Essentials (SIE) exam proves to prospective employers that you're capable of handling a job in finance. We'll help you pass the SIE and take that first step. Achievable exam prep includes our online textbook, review questions, and full-length practice exams.
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Thousands of people succeed with Achievable and go on to amazing companies.
We're proud to point out that our students have landed great jobs, but we're required to note that Achievable is not affiliated with or endorsed by these firms.
Advanced personalization
Achievable SIE exam prep uses adaptive learning techniques to create and update a personalized model of your memory, individually tracking your retention and mastery of each FINRA SIE exam learning objective. Our learning engine monitors your study progress and continually adjusts your quiz questions to ensure you're focusing on the topics that matter most for you, improving study effectiveness while reducing overall study time.
Full-length practice exams
With 2,000+ high-quality hand-crafted FINRA SIE practice exam questions, you can take 35+ full-length practice exams. Our SIE practice questions include all the types of questions you'll see on the exam, and they're weighted according to the official FINRA SIE exam rubric so you can have confidence in your scores.
Review quizzes
Continually reviewing the material you've learned while studying is essential, but you need more than simple SIE flashcards. In addition to our full-length practice exams, our SIE exam study materials include a separate quiz bank of 2,000+ review questions so you can quickly drill the key facts and regulations for any particular chapter.
Easy-to-understand online textbook
You'll see within minutes why our full online SIE exam prep book is the best SIE exam prep - it's easy to understand and written in plain English, filled with straightforward explanations and real-world examples. Our expert author has 15+ years of licensing experience, and it shows. Achievable SIE study materials are easy to read, mobile friendly, and include detailed walkthroughs of sample questions. Each of the FINRA SIE sections are covered in detail in our SIE online course.
Videos on key topics
Achievable is an effective and efficient quiz-focused course - you won't have to sit through 100+ hours of boring SIE video lectures! Our courses have a reputation for being easy to understand. If you're a visual learner, we have you covered: we include bonus SIE explainer videos on key topics to ensure you can fully understand complicated concepts.
Modern platform
Whether you're studying on the web or a smartphone, the Achievable FINRA SIE exam prep platform UX is clean and responsive. Progress charts highlight your journey through the SIE course content and your current strength in each section.
Proven success
With Achievable, you will pass. The effectiveness of our courses is empirically validated with 2,000,000+ hours studied and 50,000,000+ quiz questions answered.
Controlled experimental studies with our corporate customers demonstrate that using Achievable results in ~15% higher scores, translating into significantly higher pass rates and career success.
The finance industry is known for being an exciting if challenging career path - and one that can make you a lot of money if you're good at it. In order to engage in securities business, you are first required to pass the FINRA Securities Industry Essentials (SIE) Exam, sometimes incorrectly referred to as the Security Industry Essentials exam.
Applying to financial firms with your SIE credentials in hand shows your potential employers that you already know the profession, and have taken the initiative to learn about and pass this required test. Not only that, but hiring a pre-qualified applicant also saves them the time and money of training someone without the credentials.
If you were hiring and there were two similar candidates - one with the SIE and one without - which would you think is stronger?
What jobs require the SIE?
Practically every role in finance requires passing the SIE.
Research Analyst
Wealth Management Adviser
Investment Banker
Investment Adviser
Equity Trader
Bond Trader
Insurance Sales
Mutual Fund Sales
Compliance Officers
Operations Analyst
Financial Consultant
Not in finance?No problem.
The hiring profile for major financial institutions is changing: as the industry is becoming more people and service oriented, employers are hiring smart and driven folks outside of people who majored in finance in college.
Our corporate clients are actively hiring former service industry personnel, liberal arts majors, and more people outside of the old profile. But their biggest concern is whether you can handle the content - and that means passing the SIE will give you a BIG advantage over other applications by showing your mastery of the material.
How hard is the SIE?
The SIE is an entry-level, medium-difficulty exam, meant to be challenging but approachable to anyone - including people that do not have a traditional finance background. Calculated from the first 16,000 individuals to take it, the SIE Exam pass rate came out to be 74%, right in line with FINRA's expectations.
It is expected that experienced students can study for about 25 hours and pass the exam, while those who are just learning the material for the first time should expect to spend 50 hours to be suitably prepared.
Problem solving
You will be expected to use logic and the evidence presented to deduce the correct answer from multiple choices. This isn't too different from what you've already done with the SAT or in school – the difference is the subject matter and remembering which rules or calculations apply.
Mathematics
Finance has math - there's no way around it. Fortunately, the math in the SIE is straightforward and more a matter of how you apply it rather than doing complex calculations. It's the standard PEDMAS: parentheses, exponents, multiplication, division, addition, and subtraction.
Memorization
It's maybe not everyone's favorite part of the test, but you will need to memorize some key regulations and other information to pass.
Achievable has adaptive, memory-tracked quizzes built into our course to ensure you'll remember all the material you've learned on test day.
SIE exam details
The SIE covers the fundamentals that you'll need for any role in finance, establishing a solid foundation for your career path.
The SIE exam is hosted by FINRA and costs $80 to register. Participants have 1 hour 45 minutes to answer 75 multiple-choice questions. The passing score is 70% (53/75).
FINRA's SIE exam summary
Knowledge of Capital Markets
16%
12 questions
The basics, laws, and regulations of the financial markets. You'll need to know the primary and secondary markets, the regulators (SEC and FINRA), and their rules (Act of 1933, etc).
Understanding Products and their Risks
44%
33 questions
The products of the financial markets, which include stocks, bonds, mutual funds, ETFs, and options. You'll need to know what these products are, the risks of investing in them, and how they benefit investors.
Understanding Trading, Customer Accounts and Prohibited Activities
31%
23 questions
How customers buy and sell securities in their accounts. You'll need to know different types of orders and accounts, how those orders are entered into the market, and the regulations that govern these activities.
Overview of Regulatory Framework
9%
7 questions
How financial professionals operate in their jobs and the rules that govern their activities. You'll need to know FINRA and SEC rules, ethics of working with clients, and general procedures for financial professionals.
Achievable SIE content outline
1
Common stock
All things related to common stock, including rights of stockholders, stock markets, benefits & risks, and fundamental analysis. Various equity-related investments like ADRs, rights, warrants, and tender offers are also discussed.
2
Preferred stock
Characteristics, features, benefits, and risks of preferred stock. Interest rates, their influence on the financial markets, and how they impact preferred stock market prices are additionally covered.
3
Bond fundamentals
The foundations of debt securities, which are the most commonly traded investment in the financial markets. Topics covered include interest rates, bond characteristics, the debt markets, yields, and benefits, and risks.
4
Corporate debt
Why corporations borrow money, how they do it, and different types of debt securities they offer. The bond markets and bank products like banker's acceptances and CDs are also part of this chapter.
5
Municipal debt
The basics of municipal government products and why states, cities, and political subdivisions borrow money. Mainly focusing on general obligation (G.O.) bonds and revenue bonds, you'll learn how your local government finances its activities.
6
US government debt
The essentials of securities issued by the U.S. Treasury and federal agencies. The Federal Reserve, its monetary policy, and how it influences the economy is also examined.
7
Investment companies
What an investment company is, how they operate, and the rules and regulations of the Investment Company Act of 1940. Mutual funds, closed-end funds, exchange traded funds (ETFs), and unit investment trust (UITs) are specifically discussed in detail.
8
Alternative pooled investments
Products that work similarly to investment companies, but fall outside their definition. Primarily focusing on real estate investment trusts (REITs), hedge funds, and direct participation programs.
9
Options
The fundamental elements of options, which lock in future transaction prices. Single leg strategies, hedging strategies, income strategies, the option markets, stock options, and index options are explored.
10
Taxes
The basics of how investment returns are taxed. Taxation on dividends, interest, and capital gains are examined.
11
The primary market
Focusing on the characteristics and regulations of the primary market. The rules of the Securities Act of 1933 are covered in detail, which include IPO rules, exemptions, and the registration process.
12
The secondary market
The essentials of the secondary market, which is governed by the Securities Exchange Act of 1934. Specific stock markets, participants in the financial markets, order types, and applicable regulations are all covered.
13
Brokerage accounts
How brokerage accounts work, the process of opening one, and the different types of accounts available. Cash accounts, margin accounts, fiduciary accounts, and rules relating to firms offering brokerage accounts are covered in detail.
14
Retirement and education plans
The structures of qualified and non-qualified retirement plans. Additionally, education plans (Coverdell ESPs and 529s) and ABLE accounts are covered. Contribution limits, penalties, risks, and benefits of using retirement and education plans are further discussed.
15
Rules and ethics
The do's and don'ts of finance, specifically relating to registered representatives. Prohibited activities, market manipulation, and ethical duties are examined. You'll also learn more laws and regulations relating to business practices in finance.
FINRA SIE resources
Check out our free SIE cheat sheets / SIE dump sheets and podcasts to help you prepare for the FINRA SIE exam or for a quick refresher on the SIE fundamentals.
SIE tutoring
Want one-on-one help with your studying? Check out Achievable's directory of FINRA SIE tutors.
Free FINRA SIE practice exam
Solve 10 free SIE practice exam questions to get a feel for what to expect on the actual SIE exam.
Achievable's FINRA podcast
FINRA course author Brandon Rith and guests provide actionable tips and topic reviews to help you pass your FINRA exams.
Dump sheet: General formulas
Quick reference sheet ("cheat sheet") for the SIE covering general formulas.
Dump sheet: Regulators, laws, rules
Quick reference sheet ("cheat sheet") for the SIE covering regulators, laws and rules.
Achievable SIE - $99
Pass the FINRA SIE on your first try with Achievable's interactive online exam preparation course. Includes everything you need: easy-to-understand online textbook, 2,000+ review quizzes, and 35+ full-length practice exams.
Easy-to-understand online textbook
2k+ chapter quizzes
35+ practice exams
32+ bonus videos
Success spotlight
Joseph Frantz
Achievable actually made the exam material palatable and even fun to learn. With the learning science behind the study system, it was almost scary how well I could recall formulas and regulations. The interface and flashcard-style kept it easy and fun to get more studying done any chance I had free time, especially watching the test-readiness climb. The mobility of it was huge to utilize every minute of time I had to learn and review, whether I was on a train, waiting in line, or on a break at work.
Achievable actually made the exam material palatable and even fun to learn. With the learning science behind the study system, it was almost scary how well I could recall formulas and regulations. The interface and flashcard-style kept it easy and fun to get more studying done any chance I had free time, especially watching the test-readiness climb. The mobility of it was huge to utilize every minute of time I had to learn and review, whether I was on a train, waiting in line, or on a break at work.
Branch Operations Manager at LPL Financial
Joseph Frantz
Achievable actually made the exam material palatable and even fun to learn. With the learning science behind the study system, it was almost scary how well I could recall formulas and regulations. The interface and flashcard-style kept it easy and fun to get more studying done any chance I had free time, especially watching the test-readiness climb. The mobility of it was huge to utilize every minute of time I had to learn and review, whether I was on a train, waiting in line, or on a break at work.
Learn from the best
Our content was written exclusively for Achievable by Basic Wisdom's acclaimed FINRA instructor Brandon Rith. With 15 years of finance-related experience and 10 years of licensing expertise, Brandon has helped thousands of learners successfully pass FINRA/NASAA exams while working for Fidelity Investments, where his programs posted pass rates that always exceeded company goals.
Pass the FINRA SIE. Guaranteed.
Achievable is the best SIE exam prep course: effective, personalized, and convenient. With Achievable, you'll spend less time studying and pass your exam the first time, or your money back.
