Pass Perfect News

The Questions We Are Being Asked About SIE

  • June 29, 2018

How long will someone need to study to prepare for the SIE?
We estimate that it will take about 25 hours to review the course content, and that the candidate will need to complete at least 10 Practice Finals, which should take about another 13 hours. Plan on studying a total of around 40 hours to prepare for the SIE

How much overlap is there between the SIE and the revised Series 7 Top-Off Exam?
A lot! The SIE covers most of the Series 7 content on a basic level. What is missing from the SIE - and which will only be covered in the Top-Off - is advanced options strategies, margin accounts and margin account calculations, advanced suitability questions, most of taxation and most of analysis.

How much overlap is there between the SIE and the revised Series 6 Top-Off Exam?
Not so much! The SIE is basically a Series 7 "light." It covers a much broader range of information than the current Series 6 exam - and the content is tougher. For those individuals taking the SIE in preparation for the Series 6 Top-Off, the SIE should be the tougher exam.

Should I take the SIE and Top-Off exam on the same day?
We are not recommending this. The SIE content should be studied, and the exam taken, before starting the study process for the Series 6 or Series 7 Top-Off exam. However, the Top-Off should be taken as soon as possible after passing the SIE.

Can I take the SIE now?
The SIE will not be offered by FINRA until October 1st, 2018. That is the first day that anyone can sign up for the test.

Can I start studying for the SIE now?
We are recommending that people interested in preparing for the SIE should start studying in September of 2018.

What if I want to take the "old" Series 6 or Series 7 exam?
Anyone who opens a test window in CRD before October 1st will be given the "old" exam. Because the window is open for 120 days, this means that the old exam(s) will still be administered through January 2019.

Can I take the Top-Off exam before I take the SIE?
You could, but it really does not make any sense. The SIE is basic material that the Top-Off exam builds on.

Will taking the SIE get me a job at a FINRA member firm?
No! It simply shows that you are motivated and interested in getting a job with a FINRA member firm. In order to take a Series 6 or Series 7 (Top-off) exam you must be sponsored by a FINRA member firm and complete a background check. This means that the firm must hire you.

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