SIE Practice Exam

Take a free SIE practice exam with original questions across all four FINRA content sections. Choose timed, untimed or study mode, answer 30 random questions from our bank and get an instant score against FINRA's passing score of 70, a breakdown by section and an explanation for every answer.

SIE Practice Exam 87 questions in the bank

Questions

drawn at random from 87

Time limit

39 min

Timed mode

Sections

Knowledge of Capital Markets, Understanding Products and Their Risks, Understanding Trading, Customer Accounts and Prohibited Activities…

Pass mark

70%

same as the real exam

Mode

Timed Untimed Study

Timed: 39 minutes for 30 questions, like the real exam. Results at the end.

Number of questions

Sections covered: Knowledge of Capital Markets · Understanding Products and Their Risks · Understanding Trading, Customer Accounts and Prohibited Activities · Overview of the Regulatory Framework

The interactive test needs JavaScript. Here are sample questions with answers:

Question 1 Knowledge of Capital Markets

Which transaction takes place in the primary market?

An investor buys shares of a listed company on an exchange
A mutual fund sells Treasury notes it has held for a year
Two institutions trade corporate bonds through a dealer
A company sells newly issued shares to investors in its IPO Correct answer

Explanation: The primary market is where issuers sell new securities and receive the proceeds. An IPO raises capital directly for the company.

Question 2 Knowledge of Capital Markets

In which type of underwriting does the syndicate buy the entire issue from the issuer and bear the risk of unsold shares?

Best efforts
Firm commitment Correct answer
All-or-none
Mini-max

Explanation: In a firm commitment, underwriters purchase the securities from the issuer and resell them, keeping any unsold shares and the related market risk.

Question 3 Knowledge of Capital Markets

Under Regulation D, which individual qualifies as an accredited investor based on income?

One who earned $150,000 last year and has a $500,000 home
One who has a combined household income of $250,000 in one year only
One who earned over $200,000 in each of the last two years and expects the same this year Correct answer
One whose net worth, including primary residence, is $900,000

Explanation: An individual meets the income test with income above $200,000 (or $300,000 jointly with a spouse or spousal equivalent) in each of the two most recent years and a reasonable expectation of the same in the current year.

Your Results

FINRA passing score: 70

Score

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Percentage

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Time used

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Pass mark

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Score by Section

Section	Correct	Score	Bar

How Our SIE Exam Practice Test Works

Our SIE exam practice test draws questions at random from an original bank written to FINRA’s SIE content outline. Each session mixes all four sections in roughly the same proportions as the real exam, so you never see the same test twice.

Pick a mode before you start. Timed mode gives you 39 minutes for 30 questions, matching the real exam’s pace of about 1 minute 19 seconds per question. Untimed mode removes the clock, and study mode shows the answer and explanation after each question. You can flag questions, use the question navigator and answer with the number keys.

Free SIE Exam Practice Test

This free SIE exam practice test needs no account and no download, and it works on any phone, tablet or computer. If you close the page mid-test, your unfinished attempt is saved on your device so you can resume it later. Your last ten results are also stored on your device so you can track progress.

SIE Practice Exam With Answers

After you submit, you see your score, percentage, time used and a breakdown by section. The answer review shows every question with your answer, the correct answer, an explanation and a “why” note on the rule behind it. That turns each attempt into an SIE practice exam with answers you can study from.

What the SIE Exam Covers

The real SIE exam has 75 scored questions across four sections defined by FINRA. Our SIE exam practice questions use the same sections, so your results map directly to the real exam. For format, fees and registration, read our SIE exam guide.

Knowledge of Capital Markets

This section is 16% of the exam, about 12 questions. It covers market structure, regulatory entities, economic factors and how securities are offered. SIE exam practice problems here ask about primary and secondary markets, the role of the Federal Reserve and the steps of an underwriting.

Understanding Products and Their Risks

The largest section, at 44% or about 33 questions. It covers equities, debt securities, options, packaged products such as mutual funds and annuities, and the risks of each. An SIE exam practice quiz on this section might ask which risk most affects a long-term bond or how a preferred stock differs from common stock.

Trading, Customer Accounts and Prohibited Activities

This section is 31% of the exam, about 23 questions. It covers order types and trading, settlement, account registrations, anti-money laundering rules and prohibited practices such as insider trading, front running and churning. Use it as an SIE exam practice guide to the rules that apply to everyday customer business.

Overview of the Regulatory Framework

The smallest section, 9% or about 7 questions. It covers self-regulatory organizations, registration requirements, continuing education and conduct rules. FINRA SIE exam practice in this area often asks which body regulates what and when an associated person must report an event.

SIE Practice Exam Scoring Explained

Our SIE practice exam marks a pass at 70%, matching FINRA’s passing score of 70. The real exam is scaled from 0 to 100, so 70% on our test is a close guide rather than an exact equivalent. You also get a score for each of the four sections.

What should you be getting on SIE practice exams? Aim for the mid-70s or higher on several fresh, timed sets, with no section far below 70. That margin covers test-day nerves and harder questions.

75 Questions Scored Like the Real Exam

The real SIE scores 75 questions. To rehearse at close to full length, open the question count menu and choose the full bank, which currently holds slightly more than 75 questions, then use timed mode. The time limit scales with the number of questions, so you get the same per-question pace as the real exam.

FINRA SIE Practice Exam vs Actual

On FINRA SIE practice exam vs actual difficulty, candidates often find the official practice test close to the real thing in style. Commercial question banks vary more. Whatever you use, judge readiness by consistent scores on questions you have not seen before, not by repeat attempts on the same set.

Tips to Pass the SIE Exam

Steady SIE exam practice is the most reliable route to a pass. These habits work for most candidates:

Study products and their risks first, since it carries 44% of the questions.
Take a short set in study mode each day, then a timed set every few days.
Keep a list of missed topics and revisit them within two days.
Learn terms and numbers with spaced repetition when you make flashcards online.
Plan your weeks with the study planner for exams and count down to test day with the exam countdown.

FINRA SIE Exam Practice Test

An official FINRA SIE exam practice test is worth taking in your final week to see the real interface. Use our free bank for daily practice, since it reshuffles every time, and keep the official test for a last check. SIE practice exam questions and answers from several sources give you the widest coverage.

Once you pass, the next step for most candidates is the Series 7 exam, and you can start with our Series 7 practice exam. Considering an investment analysis career instead? Try our CFA Level 1 practice questions or browse all finance certifications.

Frequently Asked Questions

Are SIE Practice Exams Harder?

It depends on the source. Some commercial SIE practice exams are deliberately harder than the real test to build a margin, while others are easier. Candidates often say the real exam's wording is longer and more scenario-based. Treat any single practice score as a guide and look for consistent results above 70 across several sets.

How Many SIE Practice Exams Should I Take?

Most candidates take four to six full-length SIE practice exams plus shorter daily quizzes. The number matters less than the trend: when you score comfortably above 70 on several fresh, timed sets with no weak section, you are ready to book the real exam.

Is the FINRA SIE Practice Exam Good?

Yes, an official FINRA practice test is a good final check because it uses the same interface and question style as the real exam. It has a limited number of questions, though, so use it near the end of your preparation and rely on larger question banks for day-to-day practice.

Is the FINRA SIE Practice Exam the Same Every Time?

Official practice tests contain a limited set of questions, so if you retake one soon after, you will recognize many items and your score will reflect memory more than knowledge. Our SIE practice exam draws questions at random from a larger bank, so each session is a fresh mix.

How Many Practice Tests Before the SIE?

Plan on several practice tests before the SIE, typically at least four full-length timed attempts in the last two weeks. Earlier in your preparation, use short 10-question sets in study mode to learn each section before you test yourself under time pressure.

Are There SIE Practice Exams?

Yes. This page is a free SIE practice exam with original questions written to the FINRA content outline. FINRA also offers an official practice test, and commercial SIE exam prep courses include their own practice exams. Using more than one source gives you the broadest coverage.