Does A Registered Securities Representative Have To Retake Exam After Being Gone For 3 Years

Updated May 20, 2022

The FINRA SIE Exam is a foundational examination required for many career paths in the finance and securities industries. But you probably accept some questions well-nigh the SIE, such every bit what the exam covers and if you need to take it. We compiled answers to the about frequently-asked-questions nigh the SIE to help.

When did the SIE exam begin?

Oct 1, 2018
What does the SIE exam test?

The SIE test tests primal securities-related cognition. This includes cognition of basic products, such as stocks, bonds and mutual funds. It too tests securities manufacture rules and regulations.

FINRA has outlined the SIE exam content and categorized it into four "functions" or categories:

SIE exam topics

Do I need to be employed or sponsored to take the SIE exam?

No, unlike other FINRA licensing exams, you do not demand to be employed or sponsored by a broker-dealer to take the SIE test.
Do I need to have the SIE before other licensing exams?

Not necessarily. The SIE is a corequisite for the representative-level "top off" exams and the MSRB Series 52. You may take your top-off exam earlier the SIE, but you must pass both in order to become a registered representative. Most municipal and NASAA exams do not crave the SIE (with the exception of the Serial 52). Finally, if you passed a representative-level exam on or before Oct 1st, 2018, you practice not need to take the SIE exam.
What is a Top-off examination? Can I have it with the SIE?

The SIE covers bones or essential securities industry noesis. When FINRA introduced the SIE, they too introduced new, shorter versions of their specialized representative-level exams (such every bit the Series 7, Series 6 or Series 79). These exams "top-off" your knowledge of the industry with more than specific information based on which one you lot take, thus the name "meridian-off exam."

You may choose to study for your SIE and top-off exam simultaneously, and fifty-fifty take them on the same day. Nevertheless, nearly people take the SIE first and and then accept a meridian-off. For those taking the SIE and a top-off examination, see discounted Solomon Examination Prep Tiptop-Off bundles here.
Does the SIE make me a "registered representative?"

No. In society to be a registered representative, in addition to passing the SIE examination, you must go hired by a broker-dealer. Your employer must then sponsor you to have a representative-level qualifying exam, also known as a top-off exam, such every bit the Series half dozen, Series 7, or Series 79. One time you pass a meridian-off test, you volition be registered with FINRA so be considered a registered representative.

Who Needs to Take the SIE

If I was registered before the SIE started to be required, practice I have to have it?

No. If you lot were a registered representative before October 1, 2018, and you have maintained your registration subsequently October 1, 2018, FINRA has credited you with the SIE automatically.
If I was once a registered representative but my registration lapsed, do I have to take the SIE to re-enter the securities manufacture?

If your registration lapses, yous tin exist outside the industry for up to four years before you would need to take the SIE. In other words, you will not have to take the SIE, provided you annals as a representative within four years from the date of your last registration. Subsequently four years pass, y'all would need to take the SIE before reentering the industry. For case, if yous left the industry on October 31, 2018, you lot accept until October 31, 2022, to become registered again before you would need to take the SIE.

Even so, a two-year timeline applies to the top-off exams, such as the Series six or Series 7. In other words, after ii years exterior the manufacture, if you want to become registered again, you volition take to retake the top-off test.
What if my registration lapsed or terminated before October one, 2014?

In order to get re-registered, you lot will have to pass the SIE and whatsoever relevant superlative-off exam, such equally the Series 6 or Serial seven.
If I am registered in an examination license that has been retired by FINRA, do I have to have the SIE exam?

If you lot are registered in an test license that FINRA has retired, such as the Series xi, Series 62, Serial 42, or Series 72, y'all will not have to take the SIE. You will simply have to take the SIE if you left the manufacture for more than than two years and your license expired.

If you lot return to the manufacture within ii years, you volition not have to take the SIE.
If I want to become a municipal securities representative, is the SIE required?

Yes. The MSRB (Municipal Securities Rulemaking Lath) has coordinated its licensing exams with the SIE. To become a Municipal Securities Representative, you will need to have both the SIE and the "top-off" Serial 52 exam.
If I accept a representative-level securities license (such as Series half dozen or Series 7) and I want to get some other 1 (such as Series 79 or Serial 82), do I have to take the SIE?

No. If your registration has not lapsed, you don't need to accept the SIE to get another representative level license.
Practice I need the SIE to sell variable annuities?

Yes, you must have the SIE, as well as a representative level test (such equally the Series 6) to sell variable annuities. You lot must also be employed by a registered broker-dealer.

Preparing for the SIE Examination

How long should I prepare for the SIE exam?

Solomon recommends studying for 60 hours. Depending on your timeframe, you can choose a 4, 6, 8, or 11-week Solomon written report schedule.
How do I set up for the SIE exam?

Solomon offers a complete SIE report program, which includes digital Written report Guide, Examination Simulator, Audiobook, Video Lecture, Flashcards, and Live Web Classes. Visit the Solomon SIE folio to learn more.

Signing Upward for the SIE Test

How do I enroll to take the SIE?

To enroll for the SIE Exam, follow the instructions on the FINRA website.
Where should I go to schedule my exam?

After you enroll with FINRA to have the SIE exam, you must then schedule a time to sit down for the exam with Prometric, FINRA's testing service. Prometric offers online or in person exam appointments.
Does the 120-solar day "exam window" employ to the SIE?

Yep. Similar other licensing exams, FINRA gives you a 120-day window inside which to schedule your SIE test.
If I work at a FINRA banker-dealer, how do I enroll someone to take the SIE examination?

FINRA member firms take two options for registering an employee:
1. File Form U4 requesting a registration position. When a person takes the SIE this way, the effect will be visible in CRD (Central Registration Depository) just similar any other test.
2. Asking the SIE through CRD via a non-Class U4 enrollment procedure. The firm will be able to view the SIE outcome as part of this process if the business firm subsequently files a Class U4 requesting a registration position for this person. Once this happens, the SIE result volition become viewable in the Exam History department in CRD.

Taking the SIE Exam

Who can take the SIE exam?

Anyone 18 years and older can take the SIE.
How is the examination administered?

The exam is administered past reckoner, either remotely or in a testing eye.
How much does it toll to accept the SIE?

The SIE costs $80 at the time of this writing.
Practise I need any materials on test day?

You don't need to bring any materials on exam day autonomously from the required forms of identification. A figurer is provided on the testing awarding, as well as a virtual "notepad" for you to jot things down. If yous are testing remotely, this notepad does not comport over from i question to another, and you must input your entries on your keyboard. If you are testing in person, they will provide yous with a physical notepad as well.
How many questions are at that place on the SIE exam?

There are 75 scored questions and x unscored questions, for a total of 85 questions.
How much time do I have to take the exam?

Y'all have 105 minutes to take the exam.
Can I skip between questions on the exam?

If you choose to take the examination in a testing middle, you tin can navigate back and forth between questions. That means you can go back to a question if you desire to modify your answer. If you take the test remotely, yous are unable to go back.
What are my options to take the SIE with COVID-19 precautions?

Prometric launched their service ProProctorin June 2020, which allows examination takers to sit down for sure examsonline. In that location are many anti-cheating regulations that FINRA requires, so consult Prometric's ProProctor Info, or our blog mail service on the procedure to run into how it works.

When taking an examination in person at a Prometric testing center, there may be certain rubber precautions in identify. Consult this folio on Prometric's website to encounter their updates.
Will at that place be other students present at the exam?

If you are testing in a testing middle, at that place may be other individuals taking their exam while you take yours. Prometric has taken steps to assure that COVID-19 regulations are followed in this case.
Can I accept the SIE and a representative-level exam on the aforementioned twenty-four hour period?

Yes, but you lot must schedule each examination separately.

SIE Exam Results

What is a passing score on the SIE exam?

You must go lxx% or higher to pass.
When do I receive my score on the SIE exam?

The Prometric system will immediately notify you later on you finish your exam. If you pass, the system will just say "pass." Y'all volition merely receive your specific score if y'all don't pass the exam.

If you take the exam in person at a testing center, yous will receive a printed confirmation of your result. If you lot take the test remotely using ProProctor, y'all volition receive an encrypted electronic mail with your SIE laissez passer results.
How long is a passing score on the SIE valid?

Your SIE exam score is valid for four years from the date you pass.
If I fail the SIE, can I take information technology over again?

Yes. If you lot fail the SIE, yous are permitted to retake it, but y'all have to look xxx days. FINRA maintains a thirty/xxx/180-day rule with respect to the SIE, as well as all other exams. This means that you must wait 30 days after the starting time time you lot fail, and another 30 days if you fail over again. If you fail a 3rd time, you will take to wait 180 days to retake the test.
Am I able to find out whether a job candidate or any individual passed the SIE?

The SIE alone does non appear on FINRA BrokerCheck or CRD. However, once a firm files a U4, it will be pulled into the private's CRD history. As well, in one case an private passes a representative-level exam, the SIE will appear in BrokerCheck.

Looking for study materials for the SIE exam? Solomon Exam Prep offers a complete SIE study system. Choose from a variety of materials to aid you prepare: Study Guide, Exam Simulator, Audiobook, Video Lecture, digital Flashcards, and Live Web Classes. Visit the Solomon SIE product page to learn more.