Solomon Exam Prep has helped thousands of individuals pass their securities licensing exams. In preparation for the scheduled 2018 launch of the Securities Industry Essentials Exam (SIE or “Essentials”), Solomon Exam Prep has created the following comprehensive guide. According to FINRA, the Securities Industry Essentials Exam will contain 75 questions and cover general securities industry knowledge.
Unlike current FINRA securities exams, individuals will be permitted to take the SIE without being employed by a broker-dealer. FINRA is letting anyone take the Essentials because the securities industry wants to expand its potential hiring pool. To become registered, however, FINRA will require individuals who have passed the SIE to take one or more of the specialized “top off” exams, such as the Series 6, 7, etc.
FINRA has outlined the SIE exam content and categorized it into four “functions,” or categories. The accompanying chart shows the exam functions and where each Solomon chapter fits into the exam outline.
Function 1: Knowledge of Capital Markets
Chapter 6: Issuing Securities: The Primary Market
Chapter 7: Economic and International Factors that Influence the Securities Markets
Function 2: Understanding Products and Their Risks
Chapter 1: Equity Securities
Chapter 2: Debt Securities
Chapter 3: Investment Companies, Life Insurance Products, and Alternative Investments
