What sections are on the SIE exam?
Quick Answer
The SIE has four sections: Knowledge of Capital Markets (16%), Understanding Products and Their Risks (44%), Understanding Trading, Customer Accounts, and Prohibited Activities (31%), and Overview of the Regulatory Framework (9%).
Full Details
The SIE exam covers four FINRA-defined sections:
Section 1: Knowledge of Capital Markets (16%, 12 questions)
Regulatory entities, market structure, and economic factors that influence securities markets.
Section 2: Understanding Products and Their Risks (44%, 33 questions)
Equities, debt, options, packaged products, and the risks associated with each. This is the largest section by far.
Section 3: Understanding Trading, Customer Accounts, and Prohibited Activities (31%, 23 questions)
Order types, account types, settlement, and activities that violate industry rules.
Section 4: Overview of the Regulatory Framework (9%, 7 questions)
SROs, federal and state regulations, and compliance requirements.
Because Products is 44% of the exam, weight your study time accordingly.