How Do You Pass The Sie Test? You need to get a score of 70%, or higher, to pass. During your SIE exam prep, be honest with yourself about how much knowledge you have going in. If you have a hard time defining a “stock” or “bond” for example, then you should expect to take about two months to study on average.
How long should you study for the Sie exam? In order to pass the SIE exam, you will likely need to dedicate many hours over the course of weeks (or months) to study the material. While everyone retains information a bit differently, it’s recommended that you spend at least 50 hours seriously studying before your exam.
What is the pass rate for the Sie exam? What is the SIE exam pass rate? The Financial Industry Regulatory Authority (FINRA) reports a 74% pass rate among 58,264 first-time test takers (as of January 2019).
What is the hardest part of the SIE exam? Another of the SIE Exam hardest sections is that of Annuities. This might also come as an unsurprising revelation. Annuities are a potential supplement to other types of retirement accounts such as IRAs, 401-Ks, etc. Annuities tend to confuse SIE test takers on a few fronts.
How Do You Pass The Sie Test? – Related Questions
Is Series 7 harder than Sie?
The Series 7 Goes Deeper
The Series 7 exam is essentially a much more difficult SIE exam. It has 125 questions (plus 10 extra that don’t count toward your score) vs 75 for the SIE exam. A key difference in the SIE vs Series 7 is that the content goes much deeper for the Series 7.
Is the series 6 harder than the SIE?
Overall, the Series 6 difficulty level is somewhat comparable to the SIE exam difficulty. Both tests are certainly digestible, but require enough memory work to weed out anyone not willing to put in sufficient effort. It takes most of our students about 1 to 1.5 months to study for the exam.
Can you take the SIE and Series 7 on the same day?
Is it possible to take the SIE and a qualification exam (such as the Series 7) on the same day? Yes, persons associated with a broker-dealer are permitted to take both the SIE and a qualification exam on the same day.
What is the most difficult FINRA exam?
The Series 7 exam is by far the longest and most difficult of all the securities exams. It lasts for 225 minutes and covers all aspects of stock and bond quotes and trading; put and call options; spreads and straddles; ethics; margin, and other account holder requirements; and other pertinent regulations.
Can you use a calculator on the SIE exam?
Most of the questions that require calculations on the SIE exam are written so the math involved is simple in nature and function. Use a calculator to ensure that common math errors don’t lead to incorrect answers.
Can I take the SIE exam on my own?
The SIE exam is FINRA’s general industry exam. Although ideal for university students and career changers, anyone can sit for the exam without prior association with a firm.
What happens after you pass the SIE?
Jobs Within Reach After Passing the SIE Exam
Remember, the SIE Exam can be taken without any affiliation with a brokerage firm, but passing the exam doesn’t qualify you for a particular job. On the other hand, the qualification exams require member firm sponsorship, are specialized, and are more demanding.
How many times can you take Sie?
You can take the SIE as many times as you want, but there are restrictions on how long you must wait between failed attempts. The FINRA SIE follows the same waiting period requirements as all other FINRA exams: After the first failed attempt, you must wait 30 days before taking the SIE again.
Is there math on the SIE?
The SIE exam is, above all else, a reading comprehension exercise. There are very few math computations on the test. Exam writers expect students to be comfortable with the specialized language of finance, as well as common acronyms.
What does the SIE allow you to do?
The SIE Exam is a required qualifications exam administered by FINRA. It tests basic information including products, risks, the structure & function of the securities industry & its regulatory agencies, and knowledge of regulated & prohibited practices.
Should I take Sie before Series 7?
SIE is a co-requisite for the Series 6 and Series 7 exams and can be taken any time before or after the Top-Off exams (within 4 years). We recommend, however, that you pass your SIE exam first and then prepare for Series 6 or 7 Top-Off.
Is the SIE exam worth it?
The SIE is a great investment for professional and personal reasons if you have the time. You’ll never regret what you learn in the process and the credential that goes with it.
Can I take Series 7 before Sie?
Can I take the series 7 exam before I take the SIE exam? FINRA does allow candidates to sit for the series 7 exam prior to taking the SIE exam. However, Candidates who pass the series 7 top off exam will still be required to pass the SIE exam in order to become a registered representative.
Is Series 6 or 7 harder?
The Bottom Line. The Series 6 and the Series 7 are two of the most popular of what FINRA calls its qualification exams. Of the two, the Series 7 is the tougher but more comprehensive exam.
Is series 6 or 7 better?
After passing the Series 6 Exam, you’re able to sell mutual funds, variable annuities, and other variable products on behalf of a company. Typically, the Series 7 is the better choice if you’re interested in selling individual securities either now or in the future.
Is Series 63 harder than Sie?
Overall, this exam should not be as challenging as the SIE Exam, but don’t take it lightly. Ultimately, aim for the mid 80% range in your scores like the other FINRA exams and you should be ok! With that said, next we take a look at the components of the Series 63.
Can I get my Series 7 without a sponsor?
SIE and Series 63 exams do not require any sponsoring program. Series 7, 79, and 82 require a FINRA exam sponsorship before you can take the test. You may sit for the exams in place of series 7 on general securities. A series 82 sponsorship accredits you to a limited private securities offering representative.