What is the format of the SIE test for the securities industry?

Question

The SIE is the Securities Industry Essentials Exam referred to as the SIE, as of October 2018 it is required by (FINRA) Financial Industry Regulatory Authority. It includes a wide range of knowledge tested in the Series exams for professionals in the finance industry.

I have requested this exam be added to Wyzant as it is a requirement now of all professionals whether, banking, brokerage or insurance who sell annuities, financial products or have to take series exams, S5,S6,S7,S63,S65,S63, Your only exempt if you were actively licensed prior to 2018, if you lose your license or go inactive you must take the SIE.

Answer 1

The SIE is a 75 minute exam, your given 1 hour and 45 minutes to answer all 75 test questions, plus 10 extra pre-test questions with zero effect on the score. If you fail the first attempt you will have a 30 day wait to retake. Affiliation with a firm associated with FINRA is still a requirement for the exam. The SIE is a basic requirement for individuals who desire to pursue a career in the securities industry.

The test covers Knowledge of Capital Markets, Financial Products and their Risks, Understanding Trading, Customer Accounts, Prohibited Activities and Regulatory Framework. I recommend spending about 40 hours studying and taking at least 5 practice test with a 75% or better grade to prepare to pass the exam.