How to schedule your SIE exam: A step-by-step walk-through

Thinking about a career in finance, but unsure where to begin? Whether you’re a college student aspiring to land a fast-paced position at an investment bank, a recent MBA graduate eager to enter FinTech, or a seasoned professional considering a transition into wealth management roles, there’s a common first step: passing the SIE. This single entry-level exam can help you gain access to a variety of rewarding finance careers.

The SIE exam is an introductory certification administered by the Financial Industry Regulatory Authority (FINRA). Successfully passing the exam demonstrates to employers that you:

• Grasp the core concepts of investment vehicles and the financial services industry
• Can successfully navigate a licensing exam, positioning yourself for advanced certifications down the road
• Are committed to pursuing a professional role in the finance sector

For newcomers to finance, it’s important to realize that the industry is filled with certifications, licenses, and specialized credentials, each offering more than just an extra line on your resume. These qualifications reassure managers, clients, and future employers of your expertise and dedication.

The SIE exam is widely recognized as the foundational step toward a long-term, lucrative career across dynamic fields, from traditional banking to financial planning. By preparing accordingly, you’ll be setting yourself up for success as you advance in the world of finance.

What is “SIE,” and what does it stand for?

The SIE, or the Securities Industry Essentials exam, is a foundational assessment required for many entry-level finance positions. Successfully passing the SIE demonstrates that a candidate possesses essential knowledge in:

• Basics of investment products
• Key financial regulations and compliance standards
• Processes involved in trading and selling securities
• Responsibilities and ethical standards expected in early career financial services roles

The SIE exam is a critical first step for anyone considering a career in the securities industry. Like other financial licensing exams, the SIE is overseen by FINRA, the regulatory authority responsible for certifying financial professionals and maintaining industry standards.

What is the SIE used for?

The SIE serves as a crucial stepping stone for individuals aiming to start a career in the finance industry. Completing the test is often a key requirement for entry-level positions, particularly within financial advising roles. Even for finance jobs that do not list the SIE exam as mandatory, holding this credential demonstrates important qualities such as readiness, competency, and professionalism, especially valuable for students or recent graduates preparing to enter the workforce.

Additionally, passing the SIE exam opens the door to further financial certifications and industry licenses. For example, successful completion of the SIE is a prerequisite for the Series 7 General Securities Representative Qualification, a major requirement for those pursuing careers as financial advisors. Registering for the SIE and earning a passing score early provides a significant advantage, as it allows you to move forward with other licensing exams and accelerate your professional growth.

How much time do you get on the SIE, and how many questions are there?

The SIE is one hour and 45 minutes long and contains 75 questions.

FYI: Five of those questions are unscored, “pretest” questions integrated within the rest of the test, so really, the test is 70 questions long.

SIE passing score

The SIE passing score is 70%; you must answer about 50 questions correctly to qualify.

SIE exam breakdown

The SIE exam breakdown consists of 4 main content areas:

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

The “Understanding Products and Their Risks” section makes up the largest portion of the SIE exam breakdown. This topical area introduces aspiring financial professionals to a wide range of investment products and the concept of suitability, or the ability to analyze, recommend, and justify the most appropriate financial solutions for various clients. Developing a thorough understanding of the diverse financial products and their associated risks is essential for anyone aiming to provide sound investment advice. Without in-depth knowledge from this section, it would be challenging for candidates to make well-supported recommendations to investors in their future roles.

SIE exam requirements

One of the primary advantages of the SIE exam is its accessible registration process and minimal prerequisites. To register for SIE, candidates must simply be 18 years or older at the time of FINRA SIE exam registration: there are no prior exams needed and no specific education requirements. While a background in finance can be helpful, it is not mandatory for those signing up. This makes the SIE particularly appealing to professionals from various fields who are interested in transitioning into finance.

The SIE exam serves as an objective measure of foundational financial knowledge, regardless of your previous experience or education.

Can I take the exam while I’m still in college?

Yes! You can absolutely take the exam while you’re still in school. In fact, passing the SIE is a fantastic way to practice your skills, boost your resume, and gain valuable real-world experience before graduation. Both college students and MBA students benefit greatly from taking this test. Whether you’re aiming to stand out for internships or hoping to improve your chances of landing a top job after graduation, getting certified early can give your profile that extra “oomph” in a competitive market.

I’m ready to take my test. How do I schedule my SIE exam?

Registering for the SIE is also super simple. All you need to do is visit FINRA’s “Enroll for an Exam” page, select “SIE,” create an account, fill out a form, and boom! You will have signed up to take the SIE exam.

SIE test dates

Another piece of good news: FINRA’s SIE exam schedule is year-round, so you can schedule your test whenever you’d like. We recommend about four to six weeks of preparation time for the test, so register and plan accordingly.

How much is the SIE exam?

The SIE exam cost is $100. If you need to retake the exam, you’ll need to pay the exam fee again following a mandatory waiting period.

Where do I take the SIE exam?

For those who prefer the in-person testing experience, the SIE exam is administered at Prometric testing sites.

Are you an international candidate? Have no fear: Prometric testing sites are located worldwide.

Can you take the SIE exam online?

Yes, you can take the SIE exam online from your office or the comfort of your own home, as long as you have the proper setup. FINRA lists out all of its requirements for remote testing on its website.

Wrapping up

The SIE can be a game-changer for new and aspiring financial professionals looking to break into the industry. Whether you’ve learned about the SIE through a job posting, someone’s LinkedIn badge, or ongoing industry buzz, you now know more about the path forward. Navigating the SIE exam registration process is straightforward, giving candidates from all walks of life a legitimate and respected entry point into finance. Preparing and studying for the test does require time and effort, but through this dedication, you can make your dreams of working in finance a reality.