SIE Exam Overview — Format, Weights & Who Should Take

SIE at a glance

• Questions: 75 scored + 5 unscored pretest items (80 total)
• Time: 1 hour 45 minutes (105 minutes)
• Format: Multiple-choice
• Passing score: 70 (scaled)
• Fee: $80
  Details: FINRA “At a Glance” and the official SIE Content Outline.

How scoring works

FINRA embeds unscored pretest items in the exam and they do not affect your result (you won’t know which they are). Scores are equated across versions so every candidate is held to the same passing standard; there’s no penalty for guessing.

Note: Effective Oct. 27, 2025, FINRA reduced the number of unscored pretest questions on SIE from 10 to 5 (the exam duration did not change).

Content areas & weights

1. Knowledge of Capital Markets — 16% (12 items)
2. Understanding Products and Their Risks — 44% (33 items)
3. Understanding Trading, Customer Accounts & Prohibited Activities — 31% (23 items)
4. Overview of the Regulatory Framework — 9% (7 items)

Who should take the SIE

The SIE is designed for entry into the U.S. securities industry and is open to the public (age 18+)—you do not need firm sponsorship to sit for it. Results are valid for four years.

Eligibility, retakes & validity

• Eligibility: At least 18 years old; sponsorship not required for SIE.
• Retakes: 30-day wait after the first and second failed attempts; 180-day wait after the third (and each subsequent) attempt.
• Validity: A passed SIE result remains valid for four years.

After you pass: the “top-off” step

Passing the SIE alone does not qualify you for registration. To become registered, you must also pass a representative-level exam appropriate to your role (e.g., Series 6, 7, 79, 99), and those exams require firm sponsorship. The SIE is a corequisite with these top-off exams (you can take them in any order, but you must pass both).

✅ Next: review the SIE syllabus » or jump into practice & mock exams ».