SIE Question Types
Every question format explained with tips and strategies to maximize your score.
Overview
The SIE is a FINRA co-requisite exam that tests fundamental securities industry concepts. It's the entry-level exam open to anyone 18+, before combining with a top-off exam (Series 7, 6, 79, etc.) to obtain a full license.
Question Types
Definition/concept
Test knowledge of securities terms and regulatory rules.
Strategies
- ✓Memorize FINRA rule numbers for the most-tested rules
- ✓Know the difference between SIPC and FDIC coverage
Scenario
Apply regulations to a broker-client situation.
Strategies
- ✓Suitability: match product risk to customer risk tolerance
- ✓Prohibited activities: churning, front-running, insider trading
General Strategies
- 1.Focus on the four exam sections proportionally — Knowledge of Capital Markets is the largest.
- 2.Learn the key FINRA rules by number: 2111 (suitability), 4370 (business continuity), 3110 (supervision).
- 3.Options math is commonly tested — master break-even, max gain, max loss for calls and puts.
- 4.Use Kaplan or Securities Institute of America (SIA) materials.
- 5.Take multiple full-length practice tests — 75 questions in 1h45m is fast-paced.