Structure of the Exam
STRUCTURE OF THE EXAM
The exam consists of 75 multiple-choice items, and each item consists of four answer choices. The allocation of test items is as follows:
|
Section |
Description |
Percentage of Exam Items |
Number of Items |
|
1 |
Knowledge of Capital Markets |
16% |
12 |
|
2 |
Understanding Products and Their Risks |
44% |
33 |
|
3 |
Understanding Trading, Customer Accounts and Prohibited Activities |
31% |
23 |
|
4 |
Overview of the Regulatory Framework |
9% |
7 |
|
|
TOTAL |
100% |
75 |
Much of the content on the SIE outline is based on common securities industry knowledge and general concepts. This knowledge is often not based on any one rule or regulation. Examples include basic characteristics of investment products such as the relationship between the price and yield of a bond and the rights of a common stockholder. Alternately, some knowledge is based on specific rules and regulations. Examples include the reporting requirements for a Suspicious Activity Report (SAR) and the Uniform Application for Securities Industry Registration or Transfer (Form U4) filing requirements. The exam will assess candidates on both rule- and non-rule-based industry knowledge.
In this guide we the outline of what FINRA wants you to know is in black and the answers are in greeen. This guide should be used in conjunction with other study material as it's more of a refresher.
You can either use your own study material or if you recieved a password for the attached PDF you can use this: