The Securities Institute of America - SECURITIES INDUSTRY ESSENTIALS EXAM STUDY GUIDE 2022 + TEST BANK

Securities Industry Essentials EXAM STUDY GUIDE 2022 + TEST BANK

The Securities Industry
Essentials Exam

The Securities Institute of America, Inc.

Copyright The Securities Institute of America, Inc. All rights reserved.

ISBN 978-1-937841-31-7 (Paperback)

ISBN 978-1-937841-32-4 (ePub)

SECURITIES LICENSING SERIES

The Securities Institute of America proudly publishes world class textbooks, test banks and video training classes for the following Financial Services exams:

Series 3 exam

Series 4 exam

Series 6 exam

Series 7 exam

Series 9 exam

Series 10 exam

Series 22 exam

Series 24 exam

Series 26 exam

Series 39 exam

Series 57 exam

Series 63 exam

Series 65 exam

Series 66 exam

Series 79 exam

Series 99 exam

For more information, visit: www.SecuritiesCE.com

About the The Securities Industry Essential Exam

Congratulations! You are on your way to becoming licensed as an investment adviser in all states that require the SIE license. The SIE exam will be presented in a 75 question multiple-choice format. Each candidate will have 1 hour and 45 minutes to complete the exam. A score of 70% or higher is required to pass.

The SIE exam is as much a knowledge test as it is a reading test. The writers and instructors at The Securities Institute have developed the SIE textbook, exam prep software, and videos to ensure that you have the knowledge required to pass the test, and to make sure that you are confident in the application of the knowledge during the exam. The writers and instructors at The Securities Institute are subject-matter experts as well as SIE test experts. We understand how the test is written and our proven test-taking techniques can dramatically improve your results.

Taking The Securities Industry EssentiaL Exam

The SIE exam is presented in multiple-choice format on a touch-screen computer known as the PROCTOR system. No computer skills are required and candidates will find that the test screen works in the same way as an ordinary ATM machine. Each test is made up of 75 questions that are randomly chosen from a test bank of several thousand questions. The test has a time limit of 1 hour and 45 minutes and is designed to provide enough time for all candidates to complete the exam. Each SIE exam will have up to 10 additional questions that do not count toward the final score. The SIE exam comprises questions that focus on the following areas:

How to Prepare for the SIE Exam

For most candidates the combination of reading the textbook, watching the videos, and using the exam prep software is enough to successfully complete the exam. It is recommended that the individual spend at least 40 hours preparing for the exam by reading the textbook, underlining key points, watching the video class, and by taking as many practice questions as possible. We recommend that a student schedule his or her exam no more than one week after completing the SIE exam prep.

Test-Taking Tips

• Read the full question before answering.
• Identify what the question is asking.
• Identify key words and phrases.
• Watch out for hedge clauses, for example, except and not .
  • Eliminate wrong roman numeral answers.
  • Identify synonymous terms.
  • Be wary of changing answers.

Why Do I Need to Take the SIE Exam?

The SIE Exam is the co-requisite for the Series 6, 7, 22, 57, 79, 82 and 99 exams. You must pass both the SIE exam and your required top off exam to function as a fully registered individual. Passing the SIE exam alone will not permit an individual to represent a broker-dealer in a licensed capacity. Individuals must pass the required top off exam within 4 years of passing the Securities industry Essentials Exam.

What Score Is Needed to Pass the Exam?

A score of 70% or higher is needed to pass the SIE exam.

Are There Any Prerequisites for the Series SIE Exam?

There are no prerequisites to taking the Securities industry Essentials exam. The only requirement is that the individual be at least 18 years of age.

How Do I Schedule an Exam?

If you are employed by a broker-dealer ask your firms principal to schedule an exam for you or for a list of exam centers in your area. If you are not employed by a broker-dealer you must visit FINRAs website to register to take the test.

What Must I Take to the Exam Center?

A picture ID is required. All other materials will be provided, including a calculator and scratch paper.

How Soon Will I Receive the Results of the Exam?

The exam will be graded as soon as you answer your final question and hit the Submit for Grading button. It will take only a few minutes to get your results. Your grade will appear on the computer screen and you will be given a paper copy from the exam center.

If you do not pass the test, you will need to wait 30 days before taking it again. If you do not pass on the second try, youll need to wait another 30 days. After that, you are required to wait 6 months to take the test again.

About This Book

The writers and instructors at The Securities Institute have developed the SIE textbook, exam prep software, and videos to ensure that you have the knowledge required to pass the test, and to make sure that you are confident in the application of that knowledge during the exam. The writers and instructors at The Securities Institute are subject matter experts as well as SIE test experts. We understand how the test is written and our proven test-taking techniques can dramatically improve your results.

Each chapter includes notes, tips, examples, and case studies with key information, hints for taking the exam, and additional insight into the topics. Each chapter ends with a practice test, to ensure you have mastered the concepts before moving on to the next topic.

About the Test Bank

This book is accompanied by a test bank of hundreds of questions to further reinforce the concepts and information presented here. The test bank is provided to help students who have purchased our book from a traditional bookstore or from an online retailer such as Amazon. If you have purchased this textbook as part of a package from our website containing the full version of the software, you are all set and simply need to use the login instructions that were emailed to you at the time of purchase. Otherwise, to access the test bank please email your purchase receipt to sales@securitiesce.com and we will activate your account. This test bank provides a small sample of the questions and features that are contained in the full version of the exam prep software.

If you have not purchased the full version of the exam prep software with this book, we highly recommend it to ensure that you have mastered the knowledge required for your exam. To purchase the exam prep software for this exam, visit The Securities Institute of America online at www.securitiesce.com or call 8772181776.