SIE
SIE and Series 7: how the two exams fit together
Choose the work you are aiming at: the finder lists the exams it requires, their total fees and which ones need a firm to sponsor you.
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Exams to pass
SIE + Series 7 + Series 63
| Exam fees, 2026 | $642 |
| Scored questions in all | 260 |
| Seat time in all | 6.8 hours |
| Firm sponsorship | needed for Series 7 |
Series 7 needs a sponsoring firm; most states then ask for the Series 63 to act as an agent.
The SIE and the Series 7 are not alternatives: a general securities representative needs both. Since FINRA restructured its representative exams, the general knowledge they used to repeat has had an exam of its own. The SIE tests general industry knowledge and is open to anyone aged 18 or over, with no firm behind them. The Series 7 is the qualification exam for the specific job of selling a broad range of securities, and it can only be taken with a sponsoring member firm, which files the enrollment. The SIE is the corequisite of the Series 7: the registration is granted when both are passed, whatever the order (FINRA Series 7 page). In figures, the SIE has 75 scored questions in 1 hour 45 minutes with a scaled pass of 70 and a fee of $100; the Series 7 has 125 scored questions in 3 hours 45 minutes, a scaled pass of 72 and a fee of $395 in 2026. Most candidates take the SIE first, on their own, then the Series 7 after a firm hires them, followed in most states by the Series 63.
Your score · Series 7
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| Pass: scaled score of 72; here 4 of 5 correct (72%), an approximation |
| You can still miss 1 |
Practice questions written by Radif Partners from the official outline topics. They are not questions from the real exam. Progress is kept in this browser only (local storage) and never sent.
Questions, formats and fees by Radif Partners · Editorial policy · Method
Side by side
| SIE | Series 7 | |
|---|---|---|
| Purpose | general industry knowledge | qualification as a general securities representative |
| Who can enroll | anyone aged 18 or over | a candidate sponsored by a member firm |
| Scored questions | 75 (+5 unscored) | 125 (+5 unscored) |
| Time | 1 hour 45 minutes | 3 hours 45 minutes |
| Passing score | 70 (scaled) | 72 (scaled) |
| Fee, 2026 | $100 | $395 |
| Online delivery | yes, for any enrolled candidate | only with an approved accommodation |
| Validity of a pass | 4 years before registration | lapses after 2 years without a registration |
Why there are two exams
Before the SIE existed, every representative exam repeated the same basic knowledge. FINRA moved that common base into one exam that people can take before they have a job, and cut the representative exams down to what each role needs. The result is that the SIE can be passed by a student, a career changer or anyone curious about the industry, while the Series 7 stays tied to a firm that will supervise the new representative. The categories of registration that the exams lead to are defined in FINRA Rule 1220.
What each one tests
The SIE asks what things are: what a bond is, what a stop order does, what a representative must report. The Series 7 asks what to do: which product suits a retired customer, how an options position behaves, what a trade confirmation must show. Its largest function, giving information about investments and making recommendations, alone carries 91 of the 125 scored questions. The five questions under this text come from the Series 7 pool, to show the step up.
Exam day differences
The SIE can be taken online from home by any enrolled candidate, while the Series 7 is normally sat at a test center, with online delivery only through an approved accommodation (only with an approved accommodation (for example immunocompromised, or living more than 150 miles from a test center)). The Series 7 sitting is also more than twice as long, so stamina becomes part of the preparation in a way it rarely is for the SIE.
The usual order
- SIE, on your own. Enroll, pay $100 and pass it, ideally not long before you apply for jobs, since the pass lasts 4 years.
- Series 7, sponsored. Once hired, the firm files the enrollment; the sponsorship page covers what that involves.
- State exam. Most states then require the Series 63, or the Series 66 for representatives who will also act as adviser representatives.
The finder at the top of the page builds this path for other roles too. For example, a representative who will sell only funds and variable annuities takes the Series 6 instead of the Series 7, still with the SIE.
Preparing for both
Study the SIE as a foundation rather than a hurdle: the vocabulary you build there is reused on the Series 7, and weak spots carried over become expensive later, when the Series 7 tests the same ideas in harder scenarios. Use the SIE guide and its section pages first; then the Series 7 guide once a firm has enrolled you. The license finder covers every role from fund representative to adviser.