The Securities Industry Essentials (SIE) Exam is an introductory-level FINRA exam for prospective professionals in the financial services industry. Whether you’re a college student, career-changer, or a non-licensed employee of a financial institution, the SIE exam is your gateway to other FINRA exams, such as the Series 7.
Jumpstart your career and distinguish yourself in the industry by using Quizlet’s tips for acing the SIE.
1. Break down the SIE📚
The SIE is a 75-question multiple choice test designed to be completed in 1 hour and 45 minutes. Knowing the SIE topic breakdown will help you prepare for each section of the exam. To best prepare, you may want to place greater emphasis on studying for sections with a higher percentage of exam questions.
The content breakdown of the SIE is as follows:
- Knowledge of Capital Markets: 16%
- Understanding Products and Their Risks: 44%
- Understanding Trading, Customer Accounts and Prohibited Activities: 31%
- Overview of Regulatory Framework: 9%
Understanding the test is a great first step to begin studying for the SIE. Be confident!
2. Familiarize yourself w/ finance💰
After determining what content the SIE will cover, it’s time to start learning! Definitions, formulas, and financial rules will be important for you to recall during the exam. Find a book you trust, and use it as an introduction to the material you’ll need to know. If you already have experience in finance, this will be a great review!
3. Practice time management⏰
Time management is important for two reasons.
First, the SIE is a challenging exam. Knopman Marks recommends test-takers spend 40-60 hours studying for the SIE. If you start 1-2 months in advance, you will have plenty of time . Starting early also gives you time to use spaced repetition, which often yields better results and deeper understanding than cramming. Quizlet’s Learn mode can help you make spaced repetition fun.
Second, the SIE is a timed test. In 1 hour and 45 minutes, you must answer 75 questions. We recommend timing yourself each time you take a practice test. Pay attention to which types of questions are taking you the longest to complete, and keep practicing!
4. Set SMART goals!🏆
Studying for big exams can be a challenge! To make passing your test feel more achievable, set SMART goals that are specific, measurable, attainable, realistic, and timely. For example, a goal for studying for the SIE exam might be to memorize the FINRA rules for capital markets within 1 week. Setting goals will help you track your progress and motivate yourself to study harder (and smarter!) Identifying where to start is a great first step. The positive pursuit of your goals and small wins will have a big impact on your study journey!
When you reach your goals, treat yourself! Taking time to relax and do things you enjoy will make this process much easier.
5. Study with practice questions on Quizlet!⭐
Quizlet has partnered with Knopman Marks to make following this last tip a breeze.
After talking to people who passed the SIE about their own best practices for studying for the exam, it was clear that practice questions had the greatest impact on their confidence and understanding of the material. After all, practice questions that mimic the SIE are as close as it gets to the real thing.
Knopman Marks’ SIE Prep Pack includes important concepts and practice questions divided by section type, so you can ensure you’re studying the material you need. With explanations for all correct answers, these practice tests will help you determine what you’ve mastered and what to review,
Get the SIE prep pack
$149 ($199 value)
Keep these 5 tips in mind as you prepare for the SIE. Quizlet is dedicated to helping you master whatever you’re learning, and we’re excited to come along for the ride. You got this!