By Josh Hutcheson, founder of OnlineCourseing. Exam facts are from FINRA; every course price was read on the provider’s own site on 9 October 2026. Last updated: October 9, 2026. How we review.
Quick verdict
The SIE is FINRA’s entry exam for securities careers: 75 questions, 1 hour 45 minutes, a passing score of 70 and a $100 fee, with no employer sponsor needed. For most self-studiers, a value course with a large question bank is enough: the Securities Institute of America from $85 or Achievable at $99. Choose STC if you want a live instructor, or Kaplan if you want its brand-name question bank. Start with FINRA’s free practice test either way.
If you are aiming for a job at a brokerage, bank or wealth-management firm, the SIE exam is usually the first hurdle, and you can clear it before anyone hires you. This guide covers what the SIE tests, how hard it is, how long to study, what each prep course costs and includes, the free resources, how registration and retakes work, and what comes after. Every exam fact is from FINRA, and every price was checked on the provider’s site on 9 October 2026.
SIE exam at a glance
Before you spend money on the wrong online course, read this.
Get the free 2026 Platform Comparison Guide — 12 platforms compared on price, certificates, and refund policies. Instant PDF, plus my honest Tuesday picks.
No spam. Unsubscribe anytime.
| Detail | SIE exam |
|---|---|
| Questions | 75 multiple choice |
| Time | 1 hour 45 minutes |
| Passing score | 70 |
| FINRA fee | $100 |
| Who can take it | Anyone 18 or older; no firm sponsor needed |
| Where | Prometric test center or online |
| Results | Pass or fail on screen when you finish |
| Valid for | Four years |
| Retake wait | 30 days after a 1st or 2nd fail; 180 days after a 3rd |
Source: FINRA’s SIE exam page and SIE FAQ. Passing the SIE does not by itself qualify you to do securities business. To register with a FINRA member firm you also pass a representative exam for your job, such as the Series 7.
What is on the SIE exam
FINRA’s content outline splits the 75 questions into four sections. The weighting should drive your study time: products and their risks alone is 44% of the exam.
| Section | Share | Questions | What it covers |
|---|---|---|---|
| 1. Knowledge of Capital Markets | 16% | 12 | Market structure, regulators, economic factors, offerings |
| 2. Understanding Products and Their Risks | 44% | 33 | Stocks, bonds, options, packaged products such as mutual funds and annuities, and investment risks |
| 3. Understanding Trading, Customer Accounts and Prohibited Activities | 31% | 23 | Orders and settlement, account types, and prohibited practices such as insider trading |
| 4. Overview of the Regulatory Framework | 9% | 7 | SROs, registration, continuing education, conduct rules |
The exam is broad rather than deep. It asks whether you understand how the industry works and what each product does, not whether you can run the calculations a Series 7 candidate needs. FINRA scores candidates on equated sets of questions, so everyone is held to the same passing standard regardless of which version they receive.
How hard is the SIE exam?
Hard enough to fail if you treat it as a formality, manageable with a few weeks of structured practice. Three things make it harder than it looks:
- Breadth. Each of the 33 product questions can come from a different product family, so you cannot skip a topic and hope.
- Wording. Questions are written to test whether you know the precise rule, and close answer choices punish half-learned definitions.
- The 70 cut score. A comfortable pass in practice can slip on test day, which is why prep companies tell you to wait until your practice scores sit well above 70.
FINRA does not publish an SIE pass rate on its exam page. Prep companies quote their own numbers: Achievable, for example, says its students who reach exam day pass at about 98% based on self-reports and corporate-client data, and puts the industry-wide rate below about 74%. Treat vendor pass rates as marketing claims. In SIE forums, people with finance coursework report passing after a week of focused study, while others with less background miss by a point or two after cramming; how much finance you already know is the biggest variable.
How long to study for the SIE
Most providers plan for four to six weeks of part-time study. Achievable reports an average of about 55 hours across its users, split roughly evenly between reading, chapter quizzes and timed practice exams. A workable plan:
- Weeks 1-3: learn the material once. Read or watch one full pass of the course, doing the quiz at the end of each chapter. Spend the most time on products and their risks.
- Weeks 3-5: live in the question bank. Do topic quizzes on your weakest sections and read the explanation for every question you miss, including the ones you guessed right.
- Final week: timed full-length exams. Take 75 questions in 105 minutes under test conditions. Book the real exam when you score consistently in the high 70s or above across several attempts.
If you have a finance degree or already work at a firm, two to three weeks may be enough. If finance is new to you, budget the full six weeks.
Best SIE exam prep courses compared
These are the main paid options, with prices read on each provider’s own site on 9 October 2026. All five are online, and all include practice exams; they differ in price, length of access, guarantees and whether a live instructor is part of the package.
| Provider | SIE prices | Access | Notable features |
|---|---|---|---|
| Securities Institute of America | $85 / $115 / $139 | 180 days | Textbook, 12 hours of video, 1,000-question bank, Greenlight money-back guarantee |
| Achievable | $99 one time | 1 year | Online textbook, 2,000+ quiz questions, 35+ practice exams, pass-or-money-back guarantee |
| Kaplan Financial Education | $99 / $149 / from $199 (15% off on 9 Oct) | Varies by package | License Exam Manual, SecuritiesPro QBank, on-demand Premium package |
| STC | $129 / $141 / $293 | 6 months | Instructor hotline, on-demand lectures; Premier Plus adds a live virtual class; STC Pass Guarantee |
| ExamFX | $129 / $149 / $249 | Varies by package | Textbook, online course and live online packages |
Securities Institute of America: best value with a guarantee
The Securities Institute of America (SIA) sells three SIE packages: a video course and practice-exam package for $85, an online training course for $115, and the complete review course with a printed textbook for $139. Its comparison table lists 180 days of access, about 12 hours of video across 14 lessons, a 1,000-question test bank with unlimited randomized final exams, and a Greenlight readiness exam. Its Greenlight guarantee promises a refund if you follow the program and still do not pass (less $25 shipping on textbook packages); read the full conditions on SIA’s site before you rely on it. SIA has been selling securities prep since the 1990s and also sells SIE-plus-Series-7 bundles if you already know you are heading for a brokerage role.
Our Securities Institute of America review covers the guarantee terms and each package in detail.
See SIA SIE packages from $85 →
Achievable: the most practice exams for the money
Achievable charges $99 once for a year of access to its SIE course: an online textbook, more than 2,000 chapter-quiz questions, over 35 full-length practice exams and a set of bonus videos, with a pass-or-money-back guarantee. For a self-studier who learns well from reading and wants the most practice exams per dollar, it is the strongest value on this list. Achievable does not run an affiliate program we work with, so it is listed here without a link; search for Achievable SIE to find it.
Kaplan: the established brand
Kaplan Financial Education offers three SIE study packages: Basic at $99, Essential at $149 and Premium (on demand) from $199, all showing 15% off on 9 October. Kaplan also sells pieces separately, including its SIE License Exam Manual ($45), the SecuritiesPro QBank ($49) and a practice-and-mastery exam package ($29), so you can add a question bank to another course without buying a whole package.
STC: best if you want a live instructor
STC (Securities Training Corporation) sells three SIE packages: Digital E-Course $129, Premier $141 and Premier Plus $293. All three include an online study manual, flashcards, chapter quizzes, eight practice finals, 10 progress exams, about 23 hours of on-demand lectures, an instructor hotline, six months of access and the STC Pass Guarantee for students who follow its study plan; the two higher tiers add a printed manual. Premier Plus adds an instructor-led live virtual class, recordings and weekly Q&A sessions, which is the main reason to pick STC: if you study better with a scheduled class, it is the most structured option here. STC also sells SIE-plus-Series-7 packages from $372.
ExamFX
ExamFX offers a textbook package at $129, an online course package at $149 and a live online package at $249. It is a reasonable alternative if your employer already uses ExamFX for insurance licensing. We are not affiliated with it.
Free SIE prep resources
You can go a long way on free material, and you should use it whichever course you buy:
- FINRA’s SIE practice test. Free, 75 multiple-choice questions, the same length as the real exam, written by the people who write the exam.
- FINRA’s content outline. The official list of topics, linked from the SIE page. Use it as a checklist.
- Prep companies’ free samples. Achievable offers a free practice exam, Kaplan a free trial and SIA a page of free practice questions. They are a good way to compare teaching styles before paying.
If you are a veteran eligible for the GI Bill, FINRA notes that you may be able to get the cost of the SIE reimbursed; the Department of Veterans Affairs lists eligible licensing tests.
How to register and schedule the SIE
- Create an individual account on FINRA’s site. FINRA recommends a Windows laptop or desktop for enrollment; users have reported problems on Mac, mobile and tablet devices.
- Enroll for the SIE and pay the $100 fee by credit card or ACH, or redeem a voucher if a school or employer gave you one.
- Schedule your exam with Prometric, choosing either a test center or online remote proctoring.
- Bring valid government-issued photo ID whose name matches your enrollment.
If you already work at a firm, it can enroll you through its CRD access or buy you a voucher instead.
SIE test day and results
The exam is computer-based. At a test center, expect check-in with ID and secure storage for your phone and belongings; for online testing, follow Prometric’s remote-proctoring setup rules for your room and computer. FINRA shows your pass or fail result on screen as soon as you finish, with performance feedback by topic if you fail. If you need to retake, FINRA requires a 30-day wait after your first and second failed attempts, and 180 days after the third and between any later attempts.
After the SIE: the Series 7 and other FINRA exams
The SIE gets your foot in the door. To do securities business you must be associated with a FINRA member firm and pass a representative exam for your role. FINRA lists the Series 6 (investment company products), Series 7 (general securities), Series 22, 57 (securities trader), 79 (investment banking), 82, 86 and 87 (research analyst) and 99 (operations).
| SIE | Series 7 | |
|---|---|---|
| Questions | 75 | 125 |
| Time | 1 h 45 min | 3 h 45 min |
| Passing score | 70 | 72 |
| FINRA fee | $100 | $395 |
| Sponsor needed | No | Yes, a FINRA member firm |
The Series 7 is organized around the job of a general securities representative, and 91 of its 125 questions fall under providing customers with information, making recommendations and maintaining records (source: FINRA Series 7 page). Our best Series 7 exam prep courses guide compares every major provider at verified prices, and SIA vs Kaplan compares the two most-searched brands head to head. Most client-facing roles also add a NASAA state-law exam, which needs no sponsor: the Series 63 ($147), which most states require of broker-dealer agents; the Series 65 ($187) for investment adviser representatives; or the Series 66 ($177), which counts as both when combined with a valid SIE and Series 7.
What it costs to get licensed
For the common SIE-then-Series-7 path, FINRA’s fees are $100 plus $395. Prep for the SIE runs $85 to $293 depending on the provider and package, and sponsoring employers often cover Series 7 prep and fees. A self-funded candidate taking a value SIE course pays about $185 to $200 for the SIE stage.
Who should take the SIE now
Because no sponsor is needed, the SIE suits students, recent graduates and career changers who want to show employers they are serious before applying. FINRA lists the benefits as standing out from peers for internships and jobs and increased marketability in financial services. If you are already in a role that will sponsor you, your firm may enroll you and pay the fee, so ask before you buy anything. For a wider view of finance credentials, see our best finance certifications ranking and the financial analyst career guide.
Frequently asked questions
What is the SIE exam?
The Securities Industry Essentials exam is FINRA’s introductory securities exam: 75 multiple-choice questions in 1 hour 45 minutes, with a passing score of 70 and a $100 fee. Anyone 18 or older can take it without being sponsored by a firm, and a pass stays valid for four years. Passing it alone does not let you do securities business; you also need a representative exam such as the Series 7.
How much does the SIE exam cost?
FINRA charges $100 to take the SIE. Prep is separate: on 9 October 2026, SIE packages ran from $85 (Securities Institute of America) and $99 (Achievable, Kaplan Basic) up to $293 for STC’s package with a live virtual class.
How hard is the SIE exam?
It is broad rather than deep, and it is passable in a few weeks of part-time study for most people, but it is not a formality. You need a scaled score of 70, and 44% of the questions cover products and their risks. FINRA does not let you retake it for 30 days after a failed attempt.
How long should I study for the SIE?
Plan on roughly four to six weeks of part-time study, or about 50 to 60 hours in total if you are new to finance. Achievable reports about 55 hours as its users’ average. People with a finance degree or industry experience often need less.
Can you take the SIE exam online?
Yes. FINRA lets you schedule the SIE either at a Prometric test center or online with remote proctoring. You enroll through a FINRA account, pay by credit card, ACH or voucher, then choose where and when to test.
Is there a free SIE practice test?
Yes. FINRA offers a free SIE practice test with 75 multiple-choice questions, the same length as the real exam. Several prep companies also offer free practice questions or trials, including Achievable, Kaplan and the Securities Institute of America.
What happens if I fail the SIE?
You see your pass or fail result on screen as soon as you finish, with performance feedback by topic if you fail. You must wait 30 days after a first or second failed attempt and 180 days after a third, and 180 days between any later attempts.
Does the SIE expire?
A pass is valid for four years. If you join a broker-dealer and register within that window, you only need to pass the representative exam such as the Series 7. If you later leave the industry, the SIE stays valid for four years from the end of that registration.
Do I need the SIE to take the Series 7?
Yes. The SIE is a corequisite for the Series 7, and you need both to hold the General Securities Representative registration. Unlike the SIE, the Series 7 requires sponsorship by a FINRA member firm.