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Securities Industry Essentials SIE Exam Sample Lesson 4

This is the forth of 5 sample lessons we will share with you for the new 36 hour and 35 min audio course "Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam"

This is the SIE Exam Lesson on Special Securities

36 hours 53 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

58 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

 

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

https://www.finra.org/industry/essentials-exam

“Securities Industry Essentials (SIE) Exam

Available Beginning October 1, 2018

The Securities Industry Essentials (SIE or Essentials) Exam, available beginning October 1, 2018, is a new FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices.

Key Features of the Essentials Exam

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• The Essentials exam is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers.

• Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.

• Essentials exam results are valid for four years.

The Essentials Exam at a Glance

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Number of Items 75

Format Multiple Choice

Duration 105 minutes

Passing Score 70%

Cost $60”

Outline of SIE Exam:

https://www.finra.org/sites/default/files/SIE%20Outline-01.12.18.pdf

New Series 7 Exam

“On or After October 1, 2018

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

Major Job Functions Percentage of Test Questions Number of Test Questions

(F1) Seeks Business for the Broker-Dealer from Customers and Potential Customers 7% 9

(F2) Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives 9% 11

(F3) Provides Customers with Information about Investments, Makes Suitable Recommendations,