SIE Practice Exam & Practice Questions: 75-Question Bank
Practice for the FINRA SIE exam with our curriculum-aligned question bank. Work through 75 questions one at a time, untimed, with instant explanations and a Missed-question retry queue. Drill into all 4 official content sections and analyze question traps with step-by-step distractor autopsies.
New to the SIE? Read the SIE exam guide (format, passing score, cost) or browse the exam glossary.
Practice questions
The 4 Content Sections of the SIE Examination
The FINRA SIE blueprint organizes questions into four core sections. Section 2 (Products and Risks) dominates the exam with 33 of the 75 scored questions.
Knowledge of Capital Markets
Structure of capital markets, primary and secondary offerings, economic indicators, monetary and fiscal policy, and international market influences.
- Primary vs. Secondary Markets & Underwriting
- Economic Cycles, Federal Reserve Tools & Interest Rates
- Fiscal Policy, Inflation, and Yield Curves
Understanding Products and Their Risks
Equities, debt instruments, municipal securities, options basics, packaged products (mutual funds, ETFs, REITs, UITs), variable annuities, and direct participation programs.
- Common vs Preferred Stock, ADRs, Rights & Warrants
- Treasuries, Agencies, Corporate & Municipal Debt
- Options Fundamentals (Calls, Puts, Breakevens, Hedging)
Understanding Trading, Customer Accounts and Prohibited Activities
Order types, trade execution, settlement cycles, customer account registrations, anti-money laundering (AML), margin accounts, and prohibited conduct.
- Market, Limit, Stop Orders & T+1 Settlement
- Cash vs Margin Accounts & Reg T 50% Requirement
- Individual, Joint, Trust, Custodial (UTMA) & Retirement Accounts
Overview of the Regulatory Framework
FINRA, SEC, MSRB, and SRO regulatory structures, broker-dealer and associated person registration (Form U4/U5), continuing education (CE), and reporting requirements.
- Regulatory Authorities (SEC, FINRA, MSRB, SIPC)
- Registration Requirements & Form U4 / Statutory Disqualification
- Regulatory & Firm Elements of Continuing Education
Complete SIE Study Guide, Cheat Sheet & 4-Week Plan
Explore 5 chapters and 47 lessons with interactive checkpoints, high-yield cram tables, and day-by-day study calendars.
Frequently Asked Questions: FINRA SIE Exam Essentials
Do you need firm sponsorship to take the FINRA SIE exam?
No. Anyone aged 18 or older may take the Securities Industry Essentials (SIE) examination without broker-dealer sponsorship. It is open to students, career changers, and professionals seeking entry into the securities industry. Passing results are valid for four years.
What is the passing score and format of the FINRA SIE exam?
The SIE consists of 75 scored multiple-choice questions plus 10 unscored experimental pretest questions (85 total). The time limit is 1 hour and 45 minutes (105 minutes). The passing score is 70. FINRA reports a scaled score, so there is no fixed number of correct answers required to pass.
How are the questions distributed across the FINRA SIE content sections?
FINRA partitions the 75 scored questions across four distinct sections: Section 1 (Knowledge of Capital Markets) has 12 Qs (16%); Section 2 (Understanding Products and Their Risks) has 33 Qs (44%); Section 3 (Understanding Trading, Customer Accounts and Prohibited Activities) has 23 Qs (31%); and Section 4 (Overview of the Regulatory Framework) has 7 Qs (9%).
How soon after failing can a candidate retake the SIE?
Until January 18, 2027, FINRA requires a 30-day wait after the first and second failed attempts and a 180-day wait after the third and each later failed attempt within a two-year period. FINRA Regulatory Notice 26-18 (October 14, 2026) shortens these to 15 days and 60 days, effective January 19, 2027. The wait applies only to the exam you failed.
Are formula sheets or reference sheets allowed in the testing center?
No. Testing centers do not provide formula sheets. Candidates receive scratch paper/whiteboard and a basic electronic four-function calculator. Key formulas (TEY, current yield, options breakevens) must be memorized.
Which representative qualification exams follow passing the SIE?
Passing the SIE qualifies candidates to take specialized co-requisite 'top-off' licensing exams upon firm sponsorship, including the Series 7 (General Securities), Series 6 (Investment Company/Variable Products), Series 57 (Securities Trader), and Series 79 (Investment Banking).