SIE Exam Content Outline Updated by FINRA

FINRA’s Securities Industry Essentials (SIE) Exam assesses fundamental knowledge of the securities industry. The exam consists of 75 multiple-choice questions, including 10 unscored pretest items, and is divided into four sections:​

🎯 SIE Exam Content Outline

📘 Section Breakdown

1. Knowledge of Capital Markets (16%)

• Regulatory Entities and Market Participants: Understand the roles of the SEC, self-regulatory organizations (SROs) like FINRA, and other agencies such as the Federal Reserve and SIPC.
• Market Structure: Learn about primary and secondary markets, including electronic and over-the-counter (OTC) markets.
• Economic Factors: Study the impact of monetary and fiscal policies, interest rates, inflation, and business cycles on the markets.
• Offerings: Familiarize yourself with public and private securities offerings, IPOs, and the roles of underwriters and issuers.​FINRA

2. Understanding Products and Their Risks (44%)

• Equity Securities: Know the characteristics of common and preferred stocks, rights, warrants, and ADRs.
• Debt Instruments: Understand treasury and agency securities, the relationship between bond prices and interest rates, and different offering methods.
• Options: Learn about puts and calls, their uses for hedging or speculation, and key terms like strike price and expiration date.​FINRA

3. Understanding Trading, Customer Accounts, and Prohibited Activities (31%)

• Trading Orders: Recognize various order types such as market, limit, stop, and stop-limit orders.
• Customer Accounts: Understand different account types, including individual, joint, custodial, and retirement accounts.
• Prohibited Activities: Be aware of practices like insider trading, market manipulation, and the misuse of customer funds.​FINRA+1FINRA+1FINRA

4. Overview of the Regulatory Framework (9%)

• Regulatory Bodies: Study the functions of the SEC, FINRA, and other agencies in overseeing the securities industry.
• Regulatory Requirements: Understand the registration process, continuing education, and reporting requirements for securities professionals.​

📝 Additional Information

• Passing Score: 70%
• Duration: 1 hour and 45 minutes
• Cost: $80
• Validity: 4 years​FINRAFINRA+4FINRA+4FINRA+4FINRA+2FINRA+2FINRA+2

For a detailed breakdown and to download the full content outline, visit the official FINRA page: FINRA.

If you need further assistance or resources to prepare for the SIE Exam, feel free to ask!