FINRA’s content outline divides the exam into four sections:
| Section | Approx. weight | Examples |
|---|---|---|
| Knowledge of Capital Markets | 16% | Primary vs. secondary markets, the Fed, economic indicators, offerings |
| Understanding Products and Their Risks | 44% | Stocks, bonds, options, mutual funds, ETFs, annuities, REITs, investment risks |
| Understanding Trading, Customer Accounts and Prohibited Activities | 31% | Order types, settlement, margin, account types, AML, churning, insider trading |
| Overview of the Regulatory Framework | 9% | SEC, FINRA, SROs, registration, continuing education |
Products and their risks make up almost half the exam. Most study time should go there.
USA SIE Exam: Quick Facts
- Administered by
- FINRA (via Prometric test centers or online proctoring)
- Questions
- 75 scored + 5 unscored (80 total)
- Time
- 1 hour 45 minutes
- Passing score
- 70
- Fee
- About $100 (check FINRA’s fee schedule)
- Valid for
- 4 years after passing
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Disclaimer: This guide is for general information and is not financial, tax, insurance or investment advice. Exam details, fees, blueprints and product terms change. Confirm with the official organization or a licensed professional. Read our editorial policy.