SIE vs Series 7 – Comparison Chart
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
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🧾 SIE vs Series 7 – Comparison Chart
📘 Understand the Key Differences Between the SIE and Series 7 Exams
Both the Securities Industry Essentials (SIE) and Series 7 exams are key milestones in obtaining a career in the securities industry, but they serve different purposes. Here’s a side-by-side comparison to help you understand the differences between the two exams and how they complement each other.
| Aspect | SIE Exam | Series 7 Exam |
|---|---|---|
| Full Name | Securities Industry Essentials Exam | General Securities Representative Exam |
| Purpose | Entry-level exam to test basic industry knowledge | Licenses individuals to sell a broad range of securities |
| Target Audience | Individuals interested in pursuing a career in the securities industry | Professionals looking to become General Securities Representatives |
| Eligibility | Open to anyone 18+; no sponsorship required | Requires sponsorship from a FINRA-member firm |
| Prerequisite | None (although it’s recommended before taking Series 7 or other licenses) | Must pass the SIE exam before taking the Series 7 |
| Topics Covered | Basics of securities, markets, types of products, regulatory framework, ethics | Detailed securities products (stocks, bonds, mutual funds), portfolio management, customer accounts, regulations, suitability |
| Duration | 1 hour 45 minutes | 6 hours |
| Number of Questions | 75 multiple-choice questions (plus 10 experimental) | 260 multiple-choice questions (divided into 2 parts) |
| Passing Score | 70% (52 correct answers) | 72% (187 correct answers) |
| Exam Format | Multiple-choice questions | Multiple-choice questions with two sections: Part 1: 125 questions, Part 2: 135 questions |
| Focus Areas | Basic financial concepts, industry structure, market participants, regulatory bodies | In-depth knowledge of securities products, taxation, ethics, supervision, customer accounts, and suitability |
| Cost | $80 | $245 |
| Validity | Valid for 4 years | No expiration, as long as active with a FINRA-member firm |
| Required for | Entry into most securities licenses (e.g., Series 6, Series 7, Series 63) | Becoming a General Securities Representative, allowing you to sell a wide range of securities |
| Study Time Recommendation | 50–60 hours | 100–150 hours |
🚀 Key Takeaways
- The SIE exam is an introductory exam designed to assess basic knowledge of the securities industry. It is required before taking more advanced exams like Series 7 or Series 6.
- The Series 7 exam is a comprehensive licensing exam that qualifies individuals to become General Securities Representatives and sell a broader range of securities products (stocks, bonds, options, etc.).
- The SIE exam is open to anyone, while the Series 7 requires sponsorship from a FINRA-member firm.
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