Request a Private Tutor


Series 7/SIE Exam Preparation

The Securities Industry Essentials (SIE) exam and the Series 7 exam are tests offered by FINRA, the Financial Industry Regulatory Authority. Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 7 exam to obtain the General Securities Representative registration. For more information about the SIE and Series 7 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(2).

The SIE Exam

According to FINRA, the SIE is an exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices. The SIE Exam is corequisite to the Series 7 exam.

The SIE is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to prospective employers. Association with a firm is not required to take the SIE, and results are valid for four years.

Passing the SIE alone does not qualify an individual for registration with a FINRA member firm or to engage in securities business. In order to become registered to engage in securities business, an individual must pass the SIE and a qualification exam appropriate for the type of business the individual will engage in. The individual must be associated with a member firm to take a qualification exam.

The Series 7 Exam

Purpose of the Series 7 Exam

The Series 7 exam assesses the competency of an entry-level registered representative to perform their job as a general securities representative. The test will measure the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including:

  • Sales of corporate securities
  • Municipal securities
  • Investment company securities
  • Variable annuities
  • Direct participation programs
  • Options and government securities


Structure of the Series 7 Exam

Candidates will have 3 hours and 45 minutes to complete the exam digitally. The exam consists of 135 multiple-choice questions (125 scored and 10 unscored) that measure each of the four major functions below:

Learn more about the Series 7 Exam here.

Description Percentage of Exam Items Number of Questions
Seeks Business for the Broker-Dealer from

Customers and Potential Customers

7% 9
Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives 9% 11
Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records 73% 91
Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions 11% 14

Series 7/SIE Exam Registration

Individuals must register with FINRA before taking a qualification exam.  There are two options for taking the exams: either in a Prometric test center or remotely via online delivery. For specific details regarding registration and system requirements, please click here.

Need help preparing for the Series 7/SIE Exam? Private tutoring is available online.

Request a Private Tutor