If you're looking to take your first stepping-stone into the industry, the SIE Exam is your bridge to get there. Packed full of information and materials that are designed to give prospective industry professionals and edge over their colleagues, this 85-question quiz will help you to understand basic fundamentals of the markets and their functions.

If you’re new to the SIE Exam, keep reading. We’re going to break down what the SIE Exam is, it’s difficulty level, and the best ways to study for the SIE Exam.

The Securities Industry Essentials® (SIE®) Exam is a FINRA exam for prospective securities industry professionals and is designed to assess your knowledge of introductory concepts, including products and their risks, industry market structure, and regulatory agencies.

While passing the SIE Exam doesn’t qualify an individual to engage in securities or register with a FINRA member, it does offer a number of important benefits, including:

• Ability to set yourself apart from peers looking for similar jobs or internships
• Jumpstarting career goals
• Increased marketability in the industry
• Provide immediate notice of pass/fail status with feedback

After passing the SIE Exam, you can then register with a member of FINRA and begin to explore a qualification exam for the type of business you wish to engage in.

The level of difficulty for the SIE Exam will vary for each individual. It is largely dependent on current knowledge of the financial service industry.

If you’re currently enrolled in an education program relating to the industry, it will be less challenging than for those going into the test without any prior preparation.

No matter your skill level, it’s highly recommended to study up to six months ahead of time using a qualified SIE Exam preparation course. Pass Perfect offers three distinct prep packages utilizing everything from study guides and interactive dashboards, to audio tutorials and chapter exams. For more information of Pass Perfect’s SIE Exam prep course options, check out our informative SIE Exam guide.

Just as the amount of time you spend on studying will vary for everyone, the way in which you study will also be different.

A few general rules that everyone should follow for SIE exam success:

• Create an exam prep schedule. This is a simple way to ensure you are getting the study time in that you need. Set aside time on your calendar for studying, with a plan that is formed with daily, weekly, and monthly goals.
• Study by section. Remember that there are four main sections of the exam that consist of a variety of concepts. Group certain tasks by section instead of trying to internalize concepts at large. This isn’t to say you need to master one section before moving onto another. Rather, spend part of your study day mastering a few concepts in a section and repeat the process as you move on. FINRA provides an easy-to-follow content outline that is broken down by section.
• Leverage the depth of practice questions. Pass Perfect provides an unparalleled level of expertise in our SIE practice exam questions. These will challenge you more than the actual exam, so you are OVER PREPARED on purpose! Use this important tool regularly and you will feel more than confident when exam day arrives.
• Follow Pass Perfect guidelines. The study materials, practice exam questions, video resources, flashcards, and support services have been carefully cultivated by experts in the industry who know what it takes to pass. They will give you the tools you need to be successful. Dedicate yourself to the guidelines they recommend and trust in the process.

Pass Perfect is proud to provide realistic SIE practice exam questions. Utilizing this resource effectively can ensure a higher likelihood of success on the real SIE exam. To maximize the benefit of practice questions, use the following tips.

• Simulate the environment you will be in for the real test. If you will be taking your test online, set up your workspace just as you would for the real thing. Remove distractions, close other windows and tabs, ensure you will not be disturbed by others, and get familiar with your surroundings. Additionally, consider setting a timer for the practice exam, since the real exam will be timed as well.
• Take multiple practice exams over the course of your study period to gain an understanding of your progress. This will also ensure you know which areas to focus on, as well as help you notice any patterns in your test-taking strategy.

Research has shown that testing can be more effective than studying when it comes to learning and retaining information. Testing involves remembering information on cue, potentially creating connections between information and ideas that will have a lasting effect on how you retain information. As opposed to studying, which reinforces knowledge through repeated reminders of information, testing involves actively recalling information.

Try your hand at the following SIE Exam Practice questions to get a feel for how they are structured and worded.

Nailing your answers to multiple choice questions is essential to exam success. It’s easy to get overwhelmed by possibilities or struggle to decide between two answers that seem like they could both be the right one. However, multiple choice questions don’t have to be so difficult. Let’s look at some strategies for acing multiple choice questions.

• Make three passes through the exam. On your first pass through the test, answer only the questions you can immediately and easily answer. On your second pass, use the following tips to find the best possible answer to the remaining questions. On your third pass, make an educated guess about any questions you still can’t answer.
• Take note of negative words. Words like “not,” “never,” and “none” can drastically change the meaning of a sentence, so it’s important to notice them when they appear. Circle negatives when you find them and make sure to factor them into your understanding of a question or answer. A double negative can be simplified, such as “It is not illogical” to “It is logical.”
• Notice qualifiers. Qualifiers are words or phrases that change the meaning of a statement. Words such as “always” or “never” can separate a correct answer from an incorrect one. Some other examples are “more,” “less,” “most,” “all,” “none,” and “some.” Circle qualifiers when you find them and evaluate whether they are really true.
• Rule out inconsistent grammar. Sometimes, the grammar or tone of a question will not align with an answer. In those cases, you can safely rule out any inconsistent answers. For example, if the question is pointing toward a plural answer, you can ignore any singular answers.
• Cross off answers you know you can rule out. Answering a question correctly is not just about finding the best answer, but also ruling out the answers that could not be correct. The more answers you are able to cross off as impossible, the more likely you are to find the correct answer.
• Choose the best possible response. Often, multiple answers to a question may be at least partly true. Your best strategy for finding the correct answer is to evaluate which of the possible answers best fits what the question is asking—in other words, which answer holds the most truth. There will always be one answer considered most true, and finding that answer is the key to success.
• Try to answer the question before looking at the answers. Before you look at the possible answer choices, try to come up with the answer to the question on your own. Then, when you look at the answers, you can more easily rule out incorrect answers and answers that are similar to the correct answer but still not the best option.

Passing the SIE Exam is a smart idea If you’re looking for a career opportunity within the financial industry. While you aren’t eligible to engage in securities with only a SIE Exam qualification, it is an important stepping stone into a career in finance, securities, research, operations, and more.

After passing the SIE Exam, it’s time to take a qualification, or “top-off” exam, which will allow individuals to engage in securities activities. An employer sponsor, as well as a member of FINRA, will advise you on which exam to take.

Here are the best careers to get from the SIE Exam and their adjoining top-off exams that are offered for each particular qualification.

Series 6 - Investment Company Representative
After taking the SIE Exam, becoming an investment company representative is a smart career choice. Individuals who want to go down this path need to take the Series 6 – Investment Company and Variable Contracts Products Representative Exam.

An individual who passes the Series 6 exam is then qualified to solicitate, purchase, or sell the following securities products:

• • • Mutual Funds
    • Variable Annuities
    • Variable Life Insurance
    • Unit Investment Trusts
    • Municipal Fund Securities

Series 7 - General Securities Representative
With a SIE Exam qualification, becoming a general securities representative is a great option. Individuals who want to go down this path need to take the Series 7 – General Securities Representative Exam.

An individual who passes the Series 7 exam is then qualified to solicitate, purchase, or sell the following securities products:

• • • Corporate Securities
    • Municipal Fund Securities
    • Options
    • Direct Participation Programs
    • Investment Company Products
    • Variable Contracts

Series 22 - Direct Participation Program Representative
Passing the SIE Exam offers the opportunity for individuals to become a direct participation program representative. Individuals who want to go down this path need to take the Series 22 – Direct Participation Programs Representative Exam.

An individual who passes the Series 22 exam is then qualified to cover activities and products, including:

• • • Direct Participation Programs
    • Limited Partnerships
    • Limited Liability Companies
    • S Corporations

Series 57 - Securities Trader
After taking the SIE Exam, becoming a securities trader representative is a wise career choice. Individuals who want to go down this path need to take the Series 57 – Securities Trader Representative Exam.

An individual who passes the Series 57 exam is then qualified to cover activities and products, including:

• • • NASDAQ Equity Trading
    • OTC Equity Trading
    • Proprietary Trading

Series 79 - Investment Banking Representative
With a SIE Exam qualification, becoming an investment baking representative is a fantastic option. Individuals who want to go down this path need to take the Series 79 – Investment Banking Representative Exam.

An individual who passes the Series 79 exam is then qualified to advise and facilitate the following:

• • • Debt and Equity Offerings
    • Mergers and Acquisitions
    • Tender Offers
    • Financial Restructurings
    • Asset Sales
    • Divestitures or Other Corporate Reorganizations
    • Business Combination Transactions

Series 82 - Private Securities Offerings Representative
Passing the SIE Exam offers the opportunity for individuals to become a private securities offerings representative. Individuals who want to go down this path need to take the Series 82 – Private Securities Offerings Representative Exam.

An individual who passes the Series 82 exam is then qualified to solicitate and sell private placements securities products as part of a primary offering. Series 86 and 87 - Research Analyst After taking the SIE Exam, becoming a securities trader representative is an excellent
career choice. Individuals who want to go down this path need to take the Series 86 and 87 – Research Analyst Exam.An individual who passes the Series 86 and 87 exams is then qualified to cover activities including preparation of written or electronic communications that analyze equity securities companies and industry sectors.

Series 86 and 87 - Research Analyst
After taking the SIE Exam, becoming a securities trader representative is an excellent career choice. Individuals who want to go down this path need to take the Series 86 and 87 – Research Analyst Exam.

An individual who passes the Series 86 and 87 exams is then qualified to cover activities including preparation of written or electronic communications that analyze equity securities companies and industry sectors.

Series 99 - Operations Professional
With a SIE Exam qualification, becoming an operations professional is an exceptional option. Individuals who want to go down this path need to take the Series 99 – Operations Professional Exam.

An individual who passes the Series 99 exam is then qualified to advise and facilitate the following:

• • • Customer On-Boarding
    • Collection, Maintenance, Reinvestment
    • Stock/Loan Securities Lending
    • Trade Confirmation and Account Statements
    • Margin
    • Pricing Model Valuations Approval
    • Many More!

Many aspiring finance professionals don’t know how to enter the finance industry, and it can be overwhelming to find a solid starting point. One great place to start is by taking the entry-level SIE exam. Getting your SIE certification shows employers that you have the drive and aptitude to succeed in the finance industry. One of the best ways to prepare for the SIE exam is to take a prep course, such as the ones we offer at Pass
Perfect.

Getting a certification is not the only way to begin your financial services career.Consider pursuing other accreditations or even degrees to build your financial skillsetand prove to employers that you have what it takes to succeed.

1. Network!
Once you have established a skillset, your next step is to establish or update your professional documents, such as your resumé and LinkedIn profile. Be sure to include your work experience, certifications, degrees, and any other relevant information that could help you stand out from the crowd.

After updating your professional profiles and paperwork, your priority should be networking. Making connections in the financial services industry can be the key to landing a fantastic job. You can also learn a great deal from fellow industry professionals, and many will be happy to take you under your wing and provide you with guidance on how to succeed. Consider attending networking events, such as through finance industry professional associations or local universities. Attending career fairs can also be a great way to learn about possible career options and meet accomplished
people in your field.

2. Choose a Financial Industry You Will Excel In
When planning how to be successful in the financial industry, setting specific and realistic career goals is crucial. Once you know what you plan to do with your future, you can work toward achieving those goals.

Start by researching the industries available for you to work in. The wide range of options is a large part of why working in the financial services industry is so appealing. Perhaps you would like to be a sales rep or broker in the insurance industry. Maybe you want to start with an entry-level job in the banking industry, working with customers on their finances. Perhaps you would rather work in accounting and manage financial
accounts for clients.

Consider which aspects of the finance industry appeal to you most, such as helping
everyday people with their finances or securing financial investments for businesses. Use the job aspects you find ideal to determine which financial services industry sector would be the best fit for you.

3. Career Success
Breaking into the industry can be difficult, and it is crucial to maintain a healthy career once you do. Not only should you complete quality work at the job you worked so hard to get, but the professional relationships you build at your job will be a vital part of securing a future in the financial industry. Ultimately, making a good impression on your boss, colleagues, and fellow professionals will lead you to career success.

To stay focused and free from burnout, always work toward achieving a healthy worklife balance. The more you take care of yourself outside of work, the better you’ll function at work. When negotiating with an employer, don’t be afraid to push for flexible hours, remote work, and paid time off.