Close. You have to deal with multitiered Roman numeral nightmares, open- and closed-ended sentences, and killers like except and not. All of the following are true about open-end funds EXCEPT. I was a little surprised to see the exam screen show 85 questions in 1 hour 45 minutes as FINRA website said 75 questions in the same duration. Equity securities (common and preferred stock), Investment Companies (for example: mutual funds), Joint (with rights of survivorship and tenants in common), Required disclosures to FINRA and customers, Give yourself a time budget for how many hours you plan on studying between today and test day. Although the computer randomly selects the specific questions from each category, the operating system tracks the difficulty of each question and controls the selection criteria to ensure that your exam isn’t ridiculously easier or harder than anyone else’s. Thankfully, the SIE exam will focus only on a small selection of investments, which include: Each of these products has benefits, risks, and fit a specific type of investor. 2 weeks before the exam, practice, practice, practice questions! The SIE exam will cover the basics of investing, which include investment products, regulations, and general industry practices. Choice (C) is an option because the stockholder has a total of 2,400 votes to cast. Straightforward question types include a group of sentences with the facts followed by a question or incomplete sentence; you then get four answer choices, one of which correctly answers the question or completes the idea. To pass this exam, you will be required to demonstrate a fundamental knowledge of the finance industry. In addition, the MSRB (Municipal Securities Rulemaking Board) writes the rules for the municipal (city and state) market. What is the individual’s minimum net worth? Log In Sign Up. Posted by 1 year ago. Although it looked like majority if not all of their lecture videos were originally developed for Series 7, delivery by the instructor Alvin Hall was top notch and adequately addresses SIE content IMO. save. The Securities Industry Essentials (SIE) Exam Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. I liked how Pass Perfect starts with Equities as compared to Regulatory Agencies by Pass the SIE because Equities topic is less dry and more familiar so it helped me in getting used to the overall course content. Choice (B) is another possible voting arrangement because nobody said the stockholder has to use all his votes for one candidate. Contact FINRA at 301-590-6500. I tried to give some insight into where I was coming from in terms of trading experience and how I approached the whole thing. FINRA expects students to spend around 50 hours to be suitably prepared to pass the SIE. SIE Exam Questions and Topics The SIE exam consists of 75 multiple-choice questions plus 10 unscored questions, and you have an hour and 45 minutes to complete it. Please see the complete message including information about online test delivery. Statements I and II both deal with net worth; III and IV deal with earnings. 2 comments. Question Formats on the Securities Industry Essentials Exam, Securities Industry Essentials Exam Format and Details, FINRA Registration and Reporting Requirements, Know How to Handle Order Tickets for the SIE. How/Where would I list that I passed the SIE exam on my resume and LinkedIn? Although you don’t need any previous computer experience to do well on the exam, you don’t want your first encounter with a computerized exam to be on the date of the SIE exam. Association with a firm is not required to take the SIE, and results are valid for four years. The preceding example is quite easy. Within 120 days after your second anniversary, and every three years thereafter, you have to take a computer-based exam covering regulatory elements such as compliance, regulatory, ethical, and sales practice standards at the Prometric exam center. Had the question asked which is true regarding closed-end funds, the answer would’ve been Choice (D). Because of the number of questions that could be asked, the Securities Industry Essentials (SIE) exam is a beast of a test that poses questions in many different ways. Steven M. Rice, founding partner and educator at Empire Stockbroker Training Institute, is the author of Series 7 Exam For Dummies. My background is in Software Industry but looking to get into professional trading. When you first walk in the door, you’ll need to tell them what test you’re taking and give them a current government ID like a driver’s license or passport. In total, 75 questions will count toward your final score. Press J to jump to the feed. Which of the following investments would you recommend to him? To answer a ranking question, you have to choose the answer that places the information in the correct order — for example, first to last, last to first, highest to lowest, lowest to highest, and so on. So next I took the exam from Pass the SIE and scored exactly 70%. At the end of the SIE exam, the system calculates your score and displays a grade result on the computer screen. I finished answering all the questions with about 20 minutes to spare and with 25 questions Marked for Review. This time I scored closer to 80% and felt ready for the exam. SIE Exam. You’ll need to understand how investors do financial transactions and the different ways to submit orders to the market. SIE will consist of 75 scored questions (+ 10 pretest). In total, 75 questions will count toward your final score. If the word minimum were not used in the question, answer IV would also be correct. The test experience you have taking the test will depend on the test itself, but a couple things commonly happen that you can plan for. You then need to take a tutorial of the computer test system to ensure you know how it works. But this example question asks about a standard option; therefore, you don’t assume that it’s a LEAP. This is a great way to improve your resume and show firms both that you’re serious about a finance career and that you understand key industry concepts. 10 of the questions are considered “experimental” and do not count towards your grade.

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