SIE Exam Guide: Format, Passing Score, Cost & How to Study
Everything about the FINRA SIE in one place: how many questions it has, what score you need, what it costs, what is on it, and how long candidates typically prepare.
The FINRA SIE exam has 75 scored multiple-choice questions, a 105-minute time limit, and a passing score of 70 on FINRA's 0 to 100 scale. The fee is $100, you must be 18 or older, no firm sponsorship is required, and a passing result is valid for four years.
SIE exam facts at a glance
| Questions | 75 — scored; FINRA may add unscored pretest items |
|---|---|
| Time limit | 105 min — 1 hour 45 minutes |
| Passing score | 70 — on FINRA's 0 to 100 scale |
| Exam fee | $100 — per FINRA; can change |
| Eligibility | 18+ — no sponsoring firm required |
| Result validity | 4 years — toward a representative registration |
What is on the SIE: the four content sections
| Content area | Weight | Scored questions |
|---|---|---|
| Section 1: Knowledge of Capital Markets | 16% | 12 |
| Section 2: Understanding Products and Their Risks | 44% | 33 |
| Section 3: Understanding Trading, Customer Accounts and Prohibited Activities | 31% | 23 |
| Section 4: Overview of the Regulatory Framework | 9% | 7 |
SIE passing score and pass rate
The SIE passing score is 70 on a scale of 0 to 100. FINRA places each candidate's score on a common scale and adjusts statistically for small differences in difficulty between sets of questions, so 70 is not a fixed number of correct answers.
OpenExamHub does not publish an official SIE pass rate, and third-party figures vary by source and year. The fixed number is the passing score, so aim to be scoring comfortably above 70% on timed practice before you sit the exam.
If you do not pass, FINRA's waiting period is 30 days after the first and second failed attempts and 180 days after the third (and after each later attempt).
How much does the SIE cost?
FINRA lists the SIE fee at $100. Fees are set by FINRA and can change, so confirm the current amount when you enroll.
Preparation does not have to cost anything: OpenExamHub's SIE practice questions, study guide, cheat sheet, and study plan are free with no registration.
How long to study for the SIE
Candidates commonly plan for several weeks of part-time study. OpenExamHub's 4-week SIE study plan splits the time roughly 70% on practice-question analysis and 30% on reading, and finishes with timed practice. That is a planning estimate, not FINRA guidance.
Because Section 2 (products and risks) is 44% of the exam, spend the most time on equities, bonds, options, and investment companies. Use practice questions to find weak areas rather than rereading everything.
SIE exam FAQ
How many questions are on the SIE exam?
FINRA's SIE content outline allocates 75 scored questions across four sections, and you have 105 minutes (1 hour 45 minutes). FINRA may also include unscored pretest questions that do not affect your result.
What is the SIE passing score?
The passing score is 70 on a scale of 0 to 100. FINRA adjusts scores statistically so that every candidate is held to the same standard regardless of which set of questions they receive.
How much does the SIE exam cost?
FINRA lists the SIE exam fee at $100. FINRA sets the fee and can change it, so check the current amount when you enroll.
Do I need a sponsor to take the SIE?
No. You do not need to be associated with a broker-dealer, but you must be 18 or older. A passing result stays valid for four years.
How long should I study for the SIE?
Many candidates prepare over about four weeks of part-time study. The right length depends on your background; keep going until you are scoring well above 70% on timed practice.
How long do I wait if I fail the SIE?
There is a 30-day wait after the first and second failed attempts, and a 180-day wait after the third (and after each attempt beyond the third).
Start preparing for the SIE
Blueprint-aligned questions with instant explanations and a missed-question retry queue.
SIE timed practice testA timed 105-minute practice simulation (not an official FINRA form).
SIE study guideLessons across all four content sections.
SIE cheat sheetExam-day review tables: settlement, Reg T, yields, options.
4-week SIE study planA day-by-day schedule for part-time candidates.
Key terms for this exam
What is FINRA? · SRO meaning · Regulation T · Open-end vs closed-end funds · Net asset value · Full glossary
OpenExamHub is not affiliated with FINRA. Exam formats, fees, and passing scores are set by FINRA and can change; confirm them on FINRA's current candidate materials before you register.