Securities Industry Essentials (SIE) Exam by FINRA
If you have studied finance in college, it is important to take the Securities Industry Essentials (SIE) exam to show potential employers that you are a serious candidate. The exam measures your knowledge of security products and risks. There are literally thousands of college students applying for financial services jobs each year, so passing this exam will help you stand out from the crowd.
FINRA redesigned the Securities Industry Essentials SIE exam
The Securities Industry Essentials (SIE) exam was redesigning by FINRA to better test candidates’ knowledge of the securities industry. The exam covers the basics of securities law and industry regulations, investment products, risks, and regulatory agencies. This new version is intended to make the exam easier to complete and more efficient. It eliminates the duplication of general knowledge questions and ensures that content is current and relevant to the way the industry does business today.
The Securities Industry Essentials exam tests fundamental knowledge of the securities industry, and is intended to replace the Series 7 exam. Specifically, it tests how well candidates understand the structure of the industry, regulatory agencies, and prohibited practices. The exam is open to individuals 18 years of age and older. It is offered in both in-person and online formats.
It is free
If you’re interested in a career in the securities industry, you should consider taking the Securities Industry Essentials (SIE) exam. This exam tests your knowledge of security products and risks. Thousands of college students apply for these jobs every year, and a passing score on the exam shows potential employers that you’re serious about your career.
The SIE exam prep is a multiple-choice test. It covers the different types of securities, investment risks, and customer accounts. You’ll also learn about debt instruments and options, as well as direct participation programs, corporate actions, and compliance protocols. Finally, you’ll learn about securities-related legal issues and prohibited activities.
It is difficult
The Securities Industry Essentials exam (SIE) is a computer-based exam covering sales practice standards, ethical standards, and regulatory elements. The exam is fairly difficult, and it is a requirement for those working in the financial industry. Passing the exam will help you land a job with a broker-dealer, bank, or insurance company. However, you should be aware that some employers may require you to pass additional exams to be considered qualified.
The SIE exam requires some math and calculation skills, and it also tests your understanding of finance concepts and self-regulatory organizations. Although the exam’s questions may seem straightforward, it is important to know that you’ll have to apply your knowledge of self-regulation to answer exam questions. The SIE also requires you to have a basic understanding of by-laws and securities law. As such, you should study for one to two months to ensure you pass the exam.