How much does the SIE exam cost?
How much does the SIE exam cost?
$80 SIE exam registration fee
$110 – $680 total cost for SIE exam (with optional test prep)
Average SIE exam cost
The SIE exam costs $80 for the exam fee, plus $30 to $600 for optional study materials, tutors, and prep courses. The SIE test serves as a prerequisite for many FINRA exams, ensuring new entrants to the field have a solid understanding of basic securities concepts and regulations.
| SIE exam fees | Average cost |
|---|---|
| SIE registration | $80 |
| Test preparation (optional) | $30 – $600 |
| Total SIE cost | $110 – $680* |
*Includes optional fees
Cost of SIE exam prep courses & study materials
Beyond the $80 registration fee, SIE exam preparation costs $30 to $600 depending on the study materials and methods you choose. Self-study books are the cheapest option. Video courses or online study guides with practice tests cost a bit more. More personalized in-person tutoring ranges from $50 to $150 per hour.
| Fee type | Average cost | Details |
|---|---|---|
| Self-study books | $30 – $50 | Budget-friendly but require self-discipline; may lack interactive elements |
| Online study guides / practice tests | $50 – $250 | Up-to-date content; simulate actual exam experience |
| Video courses | $50 – $250 | Flexibility to learn at your own pace and revisit complex topics |
| Live online classes | $200 – $500 | Real-time interaction with instructors; require adhering to a set schedule |
| Comprehensive prep packages | $200 – $600 | Include a mix of study materials, may offer better value for a well-rounded approach |
| Private tutoring | $50 – $150 per hour | More personalized instruction; can tailor methods and topic focus to your needs |
Investing in quality preparation boosts your chances of success and saves you from the stress and costs of retaking the exam.
What is the SIE exam?
The Securities Industry Essentials (SIE) Exam is an introductory-level test administered by the Financial Industry Regulatory Authority (FINRA) for those looking to start a career in the securities industry. This exam assesses your understanding of key concepts related to finance and investing.
| Exam feature | Details |
|---|---|
| Cost | $80 registration fee |
| Duration | 1 hour and 45 minutes |
| Number of questions | 75 scored, plus 10 unscored questions |
| Question format | Multiple choice |
| Passing score | 70% |
| Testing location | Prometric Test Centers; Computer-based |
| Prerequisite for | Many FINRA exams, including Series 6, 7, 22, 79, and others |
| Validity | Results are valid for 4 years |
| Employer sponsorship | Not required |
| Eligibility | 18 years or older |
Keep in mind the SIE is just the first step, serving as a prerequisite for many FINRA qualification exams. Most roles in the securities industry require sponsorship by a FINRA member firm and passing additional exams, such as Series 6 or Series 7, to be licensed and employable. This two-step structure ensures candidates demonstrate foundational knowledge before pursuing role-specific certifications.
SIE exam content
The SIE exam consists of 75 multiple-choice questions, plus an additional 10 unscored questions that are randomly distributed throughout the exam. The test is 105 minutes long and covers 4 main content areas detailed in the following table.
| Exam section | Number of questions | Description |
|---|---|---|
| Knowledge of Capital Markets | 12 | Tests understanding of various market participants, economic factors, and types of securities markets |
| Understanding Products and Their Risks | 33 | Covers different types of securities products and their associated risks |
| Understanding Trading, Customer Accounts, and Prohibited Activities | 23 | Focuses on trading practices, account types, and prohibited activities in the securities industry |
| Overview of Regulatory Framework | 7 | Tests knowledge of regulatory agencies and their functions, as well as employee conduct and reportable events |
| Randomized unscored questions | 10 | These questions are distributed throughout the other sections and do not affect your score. They are used to gather data for future exams. |
| Total | 75 scored / 85 total | The exam consists of 75 questions that count towards your final score, plus 10 unscored questions, for a total of 85 questions. |
SIE test cost factors
When it comes to the SIE exam costs, there's a mix of fixed fees and variable expenses. The fixed fees include the $80 registration fee, with additional charges of $30 for rescheduling or $40 for cancellation. The variable expenses are for test preparation which depend on your chosen study methods.
Several factors can influence these costs:
Test prep method: Self-study materials tend to be less expensive, while instructor-led courses or tutoring can significantly increase costs.
Study duration: Longer preparation periods may require more resources or extended access to online materials, potentially increasing overall expenses.
Quality of materials: Higher-quality, more comprehensive study guides or courses often come with a higher price tag but may offer better preparation.
Retake considerations: If you need to retake the exam, the full registration fee ($80) will apply again. Additional prep costs may be lower if you have existing study materials.
Package deals: Some providers offer bundled exam prep packages that can be more cost-effective than purchasing individual components.
SIE exam FAQs
How long is the SIE exam?
The SIE exam takes 1 hour and 45 minutes (105 minutes) to complete.
How hard is the SIE exam?
The SIE exam is considered an entry-level, medium-difficulty test designed for those new to the finance industry. With a pass rate of around 74% for first-time test takers, it is challenging but manageable for dedicated candidates. While many pass on their first attempt, adequate preparation is essential to succeed.
How long should you study for the SIE exam?
Aim to study for 4 to 6 weeks to prepare for the SIE exam, dedicating about 2 hours each day. However, study length may vary based on your familiarity with the material. Individuals with a finance background might need less time, while others may require additional hours to fully grasp the concepts.
Is there a waiting period if I fail the SIE?
Yes, there is a waiting period if you fail the SIE exam. After the first or second attempt, you must wait 30 days to retake it. If you fail a third time, the waiting period increases to 180 days for further attempts. You also need to pay the full exam fee again for each retake.
Questions to ask a finance tutor
When seeking a finance tutor for SIE exam preparation, it's crucial to ask the right questions to ensure you're getting the best possible guidance:
What certifications do you hold related to the SIE exam?
How long have you been tutoring for the SIE exam?
Do you have practical experience working in the securities industry?
What study materials do you recommend for SIE exam preparation?
How do you tailor your tutoring to individual learning styles?
How do you incorporate practice questions and mock exams into your tutoring?
Can you break down the main topics covered in the SIE exam?
What strategies do you teach for time management during the exam?
Do you offer in-person, online, or both types of tutoring sessions?
What are your tutoring rates, and do you offer package deals?
What is your success rate with students passing the SIE exam?
Can you provide any testimonials or references from previous students?
Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.