The Securities Industry Essentials Exam

About The Securities Industry Essentials: Pre-Requisites And Other Info

The FINRA SIE exam is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers. Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.

There are no prerequisites to taking the Securities Industry Essentials Exam, and once you pass your SIE exam, you have one full year to study for and pass your Top Off exam.

The Origin of the SIE Exam

On October 1, 2018, FINRA changed the requirements for earning a Series 6, 7, 79, or 99 license. Where you used to take one exam for a Series 6 or 7 license, you now have to take a base course titled Securities Industry Essentials, plus a shortened version of the original Series 6 or 7 course.

Why The Change?

The new SIE exam and the changes to the licensing requirements stemmed from a review conducted by FINRA, with the following objectives:

• Reducing redundancy of subject matter content across the current exams
• Identifying opportunities to simplify the qualification exam requirement
• Limiting the impact of any alternative structure on the registration rules
• Identifying and eliminating outdated registrations

This new format also is arguably designed to draw more people into the financial industry, as prior to the SIE you were required to have a sponsor to take, for example, the Series 7 exam. While you still need a sponsor to take the Series 7 Top Off, passing your SIE exam should make finding a sponsor much easier.

How The SIE Affects Current License Holders

Most individuals who are currently registered would be considered to have passed the SIE exam, and it would remain valid for four years upon leaving the industry.

Additionally, if a currently-licensed representative leaves the industry and:

• Returns within two years, his or her registration would be regained without the need to take the SIE or top-off exam
• If between two and four years later, the SIE exam need not be taken again; only the Top Off exam for the registration
• More than 4 years later, both the SIE and top-off exam would need to be re-taken

Go to https://www.finra.org/sites/default/files/SIE%20Outline-01.12.18.pdf for more information from FINRA on the Securities Industry Essentials Exam.

How To Prepare For The SIE Exam

The FINRA site offers a full outline of the sections listed above. This outline is similar to the previous Series 7 exam, although this exam is far shorter than the Series 7 and focuses on basic industry information rather than delving into topics in depth.

SIE exam study guides and practice exams provide plenty of preparation for your test. At AB Training Center, we offer a wide range of digital and print resources to help you prepare for your SIE exam and pass on the first try.

Along with self-study resources, we offer in-person SIE exam prep seminars and webinars, so you can ask questions to a knowledgeable instructor and train with other emerging professionals. Your instructor will help you work through difficult concepts and gain a better understanding of what you'll need to pass your SIE exam.

While you must take both the SIE and a Top Off exams to earn your license, you can purchase your training materials for both of these exams either individually or at the same time to save you some money (we label these as 'Combo Packages').

Tip: Whether you take an in-person, online, or self-studay pre-licensing course, all come with many sample exam questions. We suggest you take as many of these sample exams as possible, and recommend you leave at least two weeks between when you complete your pre-licensing course and your exam date to give you enough time to take as many sample exams as you can.

Contact AB Training Center for SIE Exam Prep

If you're looking for courses that can help you excel on the FINRA SIE exam, you'll find the support you're looking for with AB Training Center.

AB Training Center has been training financial professionals across the country since 1994. We're proud to offer today's emerging industry experts with a full range of in-person seminars, webinars, audio conferences and SIE exam study guides. After you pass the SIE exam, you'll also find ongoing support as you prepare for your Top Off exam.

Contact us for more information about our products and services, or find your online training guide or local seminar using the search tool above.

Related Links

• How To Earn Your Securities License
• How Long To Study For Your Securities License
• How To Become A Stockbroker / Registered Representative
• View Securities Licensing Information And Courses For Other License Types
• How To Earn An Insurance License And Become An Insurance Agent