The new Securities Industry Essentials (SIE) Exam is the first step to a career in financial services. The exam serves as a co-requisite to all other General Securities Exams and candidates must pass it to become a registered FINRA representative of any kind.
Unlike other FINRA exams, the SIE Exam is available to anyone. Typically, candidates for FINRA exams must be sponsored through a registered member firm to sit for an exam. The only requirement for the Securities Industry Essentials Exam is that candidates must be at least years of age. The exam consists of 75 graded multiple-choice questions, plus 10 experimental ungraded questions and candidates have 105 minutes to complete it. The SIE is valid for 4 years after passing.
All individuals who take the SIE are required to pass an additional “Top-Off” exam (such as the new Series 7 Top-Off, Series 6 Top-Off or Series 79 Top-Off) to be fully licensed.
The Securities Industry Essentials Exam focuses on fundamental knowledge of the securities industry. The exam will test on Knowledge of Capital Markets, Understanding Products and Their Risks, Understanding Trading, Customer Accounts and Prohibited Activities, and finally an Overview of Regulatory Framework.
We’re excited to partner with Knopman Marks , a leader in FINRA exam preparation to provide you with premium SIE Exam flashcards. Knopman Marks has the highest pass rates in the industry and has curated over 1,200 SIE flashcards for our students.
The Knopman Marks content combined with Brainscape’s Confidence-Based Repetition study algorithm are perfectly designed to help you to memorize, comprehend, and retain the testable information.
The flashcards provided by Knopman Marks are broken into five decks, each covering an essential component of the SIE Exam content:
These flashcards will help you to drill on critical information tested on the SIE Exam. However, they are not meant to be a complete study solution. Instead, they are designed to be used in conjunction with an SIE textbook, course, and full set of practice questions.
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This deck focuses on terms and concepts relating to equity securities, including common stock, preferred stock, rights, warrants, and dividend procedures.
This deck focuses on the general characteristics of fixed income securities, including bond pricing, bond yields, and various types of risks associated with bonds.
Types of Bonds
This deck focuses on the different types of bonds, including corporate bonds, US Government debt, municipal bonds, and money market instruments.
Investment Company Securities
This deck focuses on the terminology and concepts relating to investment company products, including mutual funds, closed-end funds, UITs, and ETFs.
Other Managed Products
This deck focuses on the characteristics of REITs, direct participation programs (DPPs), as well as other managed products.
This deck focuses on the options market, including basic terminology, options strategies, and options trading.
Suitability & Investment Risk
This deck focuses on terms and concepts relating to investor suitability and investment risks.
This deck focuses on the securities issuance process, including SEC registration, exemptions from registration, and the role of underwriters in bringing new issues to market.
Secondary Market & Equity Trading
This deck focuses on the secondary market, including the role of market-makers and equity trading.
Economics & Monetary Policy
This deck focuses on important terms and concepts relating to economics and monetary policy including the business cycle, balance of trade, and the role of the Federal Reserve.
This deck focuses on the customer account opening process, different types of retail accounts and account titles.
Tax-Advantaged Accounts & Products
This deck focuses on tax-advantaged accounts, including retirement plans, variable annuities, and municipal fund securities.
This deck focuses on the FINRA registration of securities firms and professionals.
Business Conduct Rules
This deck focuses on various business practice rules within the securities industry, including insider trading, anti-money laundering procedures, communications with the public, and business conduct rules.