Finance Certifications
Finance certifications show that you can sell securities, sign audits or analyse investments. This hub compares the exams behind four of the best known: the FINRA SIE and Series 7, the Uniform CPA Exam and CFA Level I, with their official format, fees and difficulty, and a free practice test for each.
FINRA Securities Exams
FINRA securities exams qualify people to work in the brokerage industry. Most candidates take the Securities Industry Essentials (SIE) exam first and then a role-specific exam such as the Series 7 exam for general securities representatives. Every finance exam on this hub has an exam guide and a free practice test.
FINRA Series 7 — General Securities Representative Exam
FINRA licensing exam for general securities representatives: 125 scored questions in 3h45m, passing score 72; SIE is a corequisite.
Securities Industry Essentials (SIE) Exam
FINRA entry-level securities exam: 75 scored + 5 unscored questions in 1h45m, passing score 70, $100; open to anyone 18+.
US CPA licensing exam (CPA Evolution model): 3 Core sections + 1 Discipline, 4 hours each, 75 to pass each section.
First of three CFA Program exams: 180 multiple-choice questions in two 135-minute sessions (4.5 hours).
SIE Exam: Entry-Level FINRA Exam
The SIE exam covers capital markets, products and their risks, trading and customer accounts, and the regulatory framework. It has 75 scored questions plus 5 unscored, a time limit of 1 hour 45 minutes, a passing score of 70 and a fee of $100. Our SIE practice exam is an SIE practice exam for free, weighted like the real content outline.
Series 7 Practice Exam
The Series 7 has 125 scored questions plus 5 unscored pretest items in 3 hours 45 minutes, a passing score of 72 and a fee of $395. Nearly three quarters of the questions fall under one job function: providing information, making recommendations and maintaining records. The Series 7 practice exam is a Series 7 practice test with answers explained, using FINRA’s official passing score of 72.
Accounting and Investment Exams
The CPA exam licenses certified public accountants, and CFA Level I is the first of three exams in the CFA Program for investment professionals. Both are long, demanding exams, and both reward a structured study plan over many weeks.
CPA Exam Practice Test
Under the CPA Evolution model, you take three Core sections (AUD, FAR and REG) and one Discipline of your choice (BAR, ISC or TCP). Each section lasts 4 hours and is scored 0–99, with 75 needed to pass. The CPA practice exam is a practice exam for CPA candidates that spans Core and Discipline topics.
CFA Level 1
CFA Level 1 has 180 multiple-choice questions over two 135-minute sessions, and registration starts from USD 1,140 for early registration. The CFA Institute reported a 43% pass rate for the August 2026 window. Our CFA Level 1 practice questions are CFA Level 1 practice questions for free across all ten topic areas, from ethics to portfolio management.
Tools for Finance Exams
Good SIE exam practice materials include a plan as well as questions. These free tools help you schedule study around work, count down to your test date and memorise formulas and rules.
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Free study planner for exams: enter your test date and hours per week to get a day-by-day study schedule with spaced review, weekly goals and practice tests.
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Free exam countdown: enter your test date to see the days, weeks and study days left, set a countdown timer for each exam and link it to your study planner.
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Free flashcards online maker: create your own decks with no sign-up, study with spaced repetition, and use ready-made civics, road signs and CompTIA A+ decks.
The study planner for exams builds a weekly plan with practice-test weeks, the exam countdown tracks the days left, and you can make flashcards online for option strategies, tax rules or CFA formulas.
Which Finance Exam Is Hardest
Of the exams on this hub, CFA Level I and the CPA exam are the hardest, based on published pass rates and exam length. Among FINRA exams, the Series 7 is usually considered the hardest series exam that most candidates face, because of its length and options content, while the SIE is the easiest.
| Exam | Length | Pass Standard | Published Pass Rate |
|---|---|---|---|
| SIE | 1 hour 45 minutes | 70 | Not listed |
| Series 7 | 3 hours 45 minutes | 72 | Not listed |
| CPA Exam | 4 hours per section | 75 on each section | 41.94%–67.79% by section (2025) |
| CFA Level I | 4.5 hours | Not published | 43% (August 2026) |
Which CPA Exam Is the Easiest
Based on the AICPA’s 2025 cumulative pass rates, TCP (77.65%), ISC (67.79%) and REG (63.12%) had the highest pass rates, while FAR (42.12%) and BAR (41.94%) had the lowest. The AICPA cautions against comparing Disciplines directly, because candidates choose them based on their own background.
Series 66 vs Series 7 Difficulty
Series 66 vs Series 7 difficulty is a common question because many advisors take both. The Series 7 is the longer exam and covers products, options and trading in depth, while the Series 66 focuses on state securities law, ethics and investment advice. The same applies to Series 65 vs Series 7 difficulty: most candidates find the Series 7 harder, but they are different exams with different purposes.
How the Finance Exams Compare
The SIE exam vs Series 7 comparison sums up the FINRA path: the SIE is an open, entry-level knowledge exam, and the Series 7 is the qualification exam that lets a sponsored representative do the job.
| SIE | Series 7 | |
|---|---|---|
| Scored questions | 75 (plus 5 unscored) | 125 (plus 5 unscored) |
| Time | 1 hour 45 minutes | 3 hours 45 minutes |
| Passing score | 70 | 72 |
| Fee | $100 | $395 |
| Sponsorship | Not required (18 or older) | FINRA member firm |
CPA Exam vs EA Exam
CPA exam vs EA exam compares a broad accounting license with a tax specialist credential. The Enrolled Agent (EA) exam is the IRS Special Enrollment Examination, which covers taxation and representation before the IRS in three parts. The CPA exam covers auditing, financial reporting and regulation as well as tax, so it is broader and longer.
CPA Exam vs Real Estate Exam
CPA exam vs real estate exam is not a close contest. A state real estate exam is a single sitting after a prelicensing course, while the CPA exam is four 4-hour sections with typical pass rates below two thirds per section. Both are licensing exams, but the CPA requires far more study time.
CFA Level 1 vs Level 2
CFA Level 1 vs Level 2 is a jump from breadth to depth. Level I tests knowledge and basic analysis across ten topic areas with standalone multiple-choice questions, while Level II uses vignette-based item sets that require you to apply valuation and analysis to a case.
Frequently Asked Questions
Is a CPA Exam Hard?
Yes, the CPA exam is hard. Each of the four sections lasts 4 hours and needs a scaled 75 to pass, and the 2025 cumulative pass rates published by the AICPA ranged from 41.94% (BAR) to 77.65% (TCP). Most candidates study for months per section while working, so a steady schedule matters as much as raw ability.
How Hard Is the SIE Exam?
The SIE is the most approachable FINRA exam, but it still covers a lot of ground. You answer 75 scored questions (plus 5 unscored) in 1 hour 45 minutes and need 70 to pass. Products and their risks make up 44% of the exam, so options, bonds and packaged products deserve most of your study time.
Who Takes the Series 7 Exam?
The Series 7 is taken by people who will work as general securities representatives at a broker-dealer, buying and selling stocks, bonds, options and other securities for customers. Candidates must also pass the SIE, which is a corequisite. The exam has 125 scored questions in 3 hours 45 minutes and a passing score of 72.
How Many Questions Are on CFA Level 1?
CFA Level 1 has 180 multiple-choice questions, split across two sessions of about 90 questions each. Each session lasts 135 minutes, for 4.5 hours of testing in total. All questions carry equal weight and there is no penalty for wrong answers, so never leave a question blank.
Can Anyone Take the Series 7 Exam?
No, not anyone can take the Series 7 exam. Unlike the SIE, it requires sponsorship by a FINRA member firm, which usually means you are already employed or hired by a broker-dealer. The SIE, by contrast, is open to anyone aged 18 or older without sponsorship, which makes it a common first step.
What Does the SIE Exam Allow You to Do?
The SIE exam on its own does not allow you to sell securities or register as a representative. It shows employers you understand industry basics, and a passing result stays valid for 4 years. To register, you must also pass a qualification exam such as the Series 7 while associated with a FINRA member firm.