Your firm now has options when onboarding new reps, including making the SIE exam a condition of employment, having new hires pass the SIE exam prior to taking a specialized knowledge exam, or asking new hires to take both exams together. Testing accommodations are currently only available for appointments delivered at a test center. This article provides that information with study tips. FINRA has developed a toolkit for use by colleges and universities to share information about the SIE. Per FINRA testing policies, you are not permitted to leave the building during an unscheduled break unless required to do so to use the bathroom facilities. Study sheets and reference materials are not allowed during the test. An exam proctor will check everything that you plan to bring into the testing room before allowing you to begin. Note: Government-issued IDs with expiration dates from Feb. 1, 2020, forward will be acceptable for testing until governmental issuing entities resume operations. Back-to-back scheduling is a feature that allows for the scheduling of two appointments on the same day and at the same test center in one transaction.
If you have questions regarding your results, please contact your Compliance/Registration Department for assistance. Scratch paper and pens will be provided to you upon admittance to the testing room. Like the Series 6 Exam, it can be taken at the same time or after the SIE Exam. Option 1: Schedule your exam in a Prometric test center. Will the 120-day “exam window” still apply to the SIE? All rights reserved. Firms that currently have, or plan to develop, relationships with local universities have an advantage in leveraging the benefits of this new exam. Securities Industry Essentials (SIE) Exam Frequently Asked Questions for Businesses. Removed religious apparel must be stored in your locker. Religious items such as head coverings, rosary beads, kabbalah bracelets, etc., are permitted in the testing room after being visually inspected by the Test Center Personnel. Having a better understanding of the industry helps create more agile and effective workforces, which is key to growth and competitive positioning. Online Test Delivery: Unscheduled breaks are permitted; however, the time on your exam will continue to count down. All other personal items must be placed in a locker for test security purposes, so please limit what you bring to the Test Center. We hope this article has helped clear up confusion and answer any questions you have about the SIE Exam, and how it affects your firm. Personal belongings include but are not limited to: prescription medications, medical devices, etc. Ensure that your name on this ID is the exact same name under which your exam is scheduled. The SIE, S6, S7, S63, S65 and S66 exams are available to be scheduled for online test delivery. Financial advisors will generally replace the Series 6 with a Series 7 license. As noted previously, many of the firms we have talked to are interested in having their administrative staff prepare and sit for the SIE exam as well.
The Series 65 Exam, the Uniform Investment Advisor Law Exam, serves the same purpose for investment advisor representatives. Becoming a financial advisor or being licensed to sell insurance with securities involves more than completing one exam. The SIE Exam is a required qualifications exam administered by FINRA. Based on FINRA Regulatory Notice 17-30, the following individuals are considered to have passed the SIE exam: All other individuals seeking representative-level registration must pass the SIE exam, unless they obtain a waiver. How do I become eligible to take an FINRA exam? Test Center Delivery: Upon completion of your exam, your result file will be electronically encrypted and returned to FINRA. Upon return from an unscheduled break, a security check will be performed. Think of the SIE Exam as your foundation for all future work in securities. What is the cost of the SIE exam? Pricing varies depending on the package you choose, but it typically ranges from $100 to around $210. Passing the SIE Exam alone will not qualify you to join a firm and practice in the business. The Series 7 Exam allows you to participate in more securities activities. It is designed to be a more comprehensive test and allows those with a Series 7 designation to work with more securities products. The cost of the SIE exam is $60. Upon return from an unscheduled break, a security check will be performed. For test center delivery, the additional time for these activities cannot be used toward completing the exam itself or writing on your center-provided note board. Those who were licensed before October 1, 2018 do not need to take the SIE Exam as long as they continue to meet the continuing education requirements of their current licenses. Some people choose to take their specialization exams on the same day as their SIE Exam. Additionally, candidates now have to pass multiple exams before registering with FINRA, which may extend the onboarding process to account for exam scheduling, testing, and waiting periods for retakes. The SIE, or Securities Industry Essentials Exam, is an exam created by FINRA to test the abilities of prospective securities industry professionals.
Download this free guide to learn more about how the new securities licensing process works, the rationale for the change, SIE tested exam content, and how it could change hiring and recruiting practices.
Test Your SIE Knowledge. Untimely cancellation of an exam or failing to show for an appointment is subject to a penalty fee. Ensure that your name on this ID is the exact same name under which your exam is scheduled. Online Test Delivery: Upon completion of your exam, you will not receive your official result report.
You will not be allowed to test if you arrive later than 30 minutes after your appointment start time and a seat is unavailable to accommodate your full testing time. The resources in this toolkit, some of which you can customize with your school name or logo, are intended to highlight the benefits of taking the SIE to students considering a career in the securities industry.
Upon completion of your exam, you will not receive your official result report. If you want to schedule exams on different days, you must select each exam individually and complete individual appointment transactions. Your raw score will be scaled to adjust for slight variations in difficulty between versions of the test. Per FINRA testing policies, you will not be permitted to access any study materials, make any phone calls, or access electronic media during an unscheduled break. Important: Testing accommodations are currently only available for appointments delivered at a test center. You will not be permitted to access any study materials, make any phone calls, access electronic media or your locker during an unscheduled break. There is no charge for rescheduling or canceling an appointment if the change is made in a timely manner.
These include the Series 22 Exam for Direct Participation Program Representatives, Series 57 Exam for Securities Traders, Series 79 for Investment Banking Representatives, and Series 82 Exam for Private Securities Offerings Representatives. SIE: Securities Industry Essentials (SIE) $60: $30: 3: National Commodities Futures Exam (CR) $130: $65: 4: Registered Options Principal Exam (OP) $105: $52.50: 6: Investment Company and Variable Contracts Products Representative Exam (IR) $40: $20: 7: General Securities Representative Exam … No personal items, food or drink, including coffee and water, are permitted inside the testing room. The SIE, S6, S7, S63, S65 and S66 exams are available to be scheduled for online test delivery. This can be done at most testing centers through their back-to-back scheduling option. Information on this page has been gathered by a multitude of sources and was most recently updated on May 2020. The table below lists the allocation of exam questions for each section. We hope this article has helped clear up confusion and answer any questions you have about the SIE Exam, and how it affects your firm. How much will it cost to take the SIE… SIE Exam. paper/erasable note boards are not permitted.
Note: Government-issued IDs with expiration dates from Feb. 1, 2020, forward will be acceptable for testing until governmental issuing entities resume operations.
ExamFX offers three packages for SIE exam prep: Self-Study, Video Study, and Live Online. File a complaint about fraud or unfair practices. The scratch paper and pens must be returned at the end of your exam. StateRequirement and its members and affiliates are not responsible for any losses, monetary or otherwise.
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