--- title: "Securities Industry Essentials (SIE) Exam Facts 2026: questions, time, fee" url: https://siecheatsheet.com/sie-exam-facts description: "The Securities Industry Essentials (SIE) exam in one table: 80 questions, 1 hour 45 minutes, 70 to pass, $100. Checked against the Financial Industry Regulatory Authority (FINRA), with a dated changelog." updated: 2026-10-19 site: "siecheatsheet.com: a one-page Securities Industry Essentials (SIE) exam study guide by Jason Meinzer, who passed after 150+ hours and 12+ practice exams. $4.99 PDF, 7-day refund. Free SIE exam facts, formulas, pass rates and prep comparisons." --- Do not schedule your Securities Industry Essentials (SIE) exam until you know everything on [my study guide](https://siecheatsheet.com/cheat-sheet). I failed 10 practice exams before I knew 100% of it. # Securities Industry Essentials exam facts 80 questions. 105 minutes. Score 70 to pass. $100. Checked against the Financial Industry Regulatory Authority (FINRA). [Get the study guide — $4.99](https://siecheatsheet.com/go/buy?src=facts-agent)[See what's on it](https://siecheatsheet.com/cheat-sheet) - 7-day money-back guarantee - Instant PDF download - For studying only. No notes are allowed in the test center - Updated Oct 8, 2026 I'm [Jason Meinzer](https://siecheatsheet.com/about), a real person. I studied 150+ hours, took 12+ practice exams (900 questions), and passed the SIE. I made this study guide by hand. It is not AI slop. **SIE Study Guide**Jason Meinzer, one page **Reports** **Rights** **Voting** **Systematic risk** **Reinvestment risk** **Bond yield** **Bond price** **Bond ratings** **Settlement** **Market caps** **Dividends (DERP)** **Margin** Made by handNot AI slop About 100 conceptsEach one explained ## The 3 steps Do them in this order. Step 2 is the gate. 1. 1 ### Study 100+ hours with a prep course. No shortcut. Any of [these](https://siecheatsheet.com/best-sie-prep) works if you finish it. I used Achievable. 2. 2 ### The gate: get the sheet. Can't explain every item on it? Don't schedule the exam. ↩ Back to step 1 3. 3 ### Only then book the exam. Fail once or twice, you lose the $100 booking fee each time and wait a month to retake it. Fail 3 times, you wait 180 days. ## What the Securities Industry Essentials (SIE) exam is and who has to take it SIE stands for Securities Industry Essentials. It's the entry exam run by FINRA. It's the first exam on almost every securities license path: you pass the SIE, then a second "top-off" exam for the specific job. | Step 1 | Step 2 (top-off exam) | The job | | --- | --- | --- | | SIE | Series 7 | General securities representative (stockbroker) | | SIE | Series 6 | Mutual funds and variable annuities | | SIE | Series 79 | Investment banking | | SIE | Series 57 | Securities trader | You don't need a job or a sponsor to take the SIE. You do need a firm to sponsor you for the top-off exam. ## The facts | Item | Fact | | --- | --- | | Questions | 80 multiple choice (75 scored, 5 unscored) | | Time | 1 hour 45 minutes | | Passing score | 70 | | Fee | $100 | | Sponsor needed? | No. Anyone 18 or older can take it | | Result good for | 4 years | | Retake wait | 30 days after a 1st or 2nd fail, 180 days after a 3rd | Source: [FINRA SIE exam page](https://www.finra.org/registration-exams-ce/qualification-exams/securities-industry-essentials-exam), checked Oct 4, 2026. ## What's on it, by weight | Section | Share | About how many questions | | --- | --- | --- | | Knowledge of capital markets | 16% | 12 | | Products and their risks | 44% | 33 | | Trading, customer accounts and prohibited activities | 31% | 23 | | Regulatory framework | 9% | 7 | Products and their risks is almost half the test. That's where I'd put most of your hours. Source: [FINRA SIE content outline](https://www.finra.org/sites/default/files/SIE_Content_Outline.pdf) (October 2025). ## Booking, rescheduling and retake rules | If you... | What it costs you | | --- | --- | | Reschedule or cancel 10+ business days before | Nothing | | Reschedule or cancel 3 to 10 business days before | A partial fee | | Cancel within 2 business days, or don't show up | The full $100. You pay again to re-enroll | | Fail (1st or 2nd time) | 30-day wait, then $100 again | | Fail a 3rd time or more | 180-day wait each time, then $100 again | This is why I say don't schedule your exam until you can explain everything on [the sheet](https://siecheatsheet.com/cheat-sheet). I lost the fee twice before I passed. Sources: [FINRA cancellation policy](https://www.finra.org/registration-exams-ce/qualification-exams/cancellation-policy) and [FINRA SIE frequently asked questions](https://www.finra.org/registration-exams-ce/qualification-exams/sie-and-exam-restructuring-faq), checked Oct 5, 2026. [Get the study guide — $4.99](https://siecheatsheet.com/go/buy?src=facts-agent) ## Numbers that change every year | Item | 2026 | | --- | --- | | Individual Retirement Account (IRA) contribution limit | $7,500 | | 401(k) employee limit | $24,500 | Source: [Internal Revenue Service (IRS) newsroom](https://www.irs.gov/newsroom), checked Oct 4, 2026. I update these when the IRS announces next year's numbers. ## What changed (changelog) - **Oct 27, 2025:** exam went from 85 to 80 questions (75 scored). Time and passing score stayed the same. - **2026:** fee is $100 (it was $80). I haven't confirmed the exact date it changed. - **Oct 5, 2026:** added what the SIE is, and the booking, rescheduling and retake rules. - **Oct 4, 2026:** this page launched. I check FINRA's page every month. ## Questions people ask Do I need a firm to sponsor me for the SIE? No. Anyone 18 or older can register and take it on their own. How do I register? Through FINRA's website. You pay the $100 fee, then book a seat at a Prometric test center or an online proctored session. What are the 5 unscored questions? Test questions FINRA is trying out. You won't know which ones they are, so treat every question as real. When do I get my result? You see a pass or fail on screen right after you finish. How long is a pass good for? 4 years. You need to pass a "top-off" exam like the Series 7 inside that window. [Get the study guide — $4.99](https://siecheatsheet.com/go/buy?src=facts-agent) --- Source: https://siecheatsheet.com/sie-exam-facts (siecheatsheet.com, by Jason Meinzer). Exam facts are checked against FINRA and dated on the page. The study guide is $4.99 with a 7-day refund.