The Securities Industry Essentials (SIE) exam is FINRA's entry-level test of basic securities knowledge, and a corequisite for representative exams such as the Series 7.
Anyone 18 or older can take it, with no firm sponsorship. It has 75 questions, a 1 hour and 45 minute limit, and a passing score of 70. It covers how markets work, products and their risks, trading and customer accounts, prohibited practices, and how the industry is regulated.
Passing the SIE alone doesn't qualify anyone to register with a firm or do securities business. Results stay valid for four years, which gives a new hire time to pass a representative exam. On an advisor's record, it means little without a representative exam beside it.
How to check
FINRA BrokerCheck shows the SIE in a person's list of exams. Look at the representative exams and current registrations next to it.
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