SIE vs Series 6
Which should you take first?
Take the SIE first. It is open to anyone 18 or older with no sponsoring firm, while the Series 6 requires the SIE as a corequisite and association with a FINRA member firm. Passing the SIE alone does not qualify someone for registration.
Side by side
| Fact | SIE | Series 6 |
|---|---|---|
| Questions | 80 items presented (75 scored, 5 unscored pretest); only the 75 scored items count toward the candidate's result | 50 scored questions + 5 unscored pretest questions = 55 total |
| Duration | 1 hour 45 minutes | 1 hour 30 minutes |
| Passing score | 70 | 70, as stated on FINRA's Series 6 program page |
| Prerequisites and sponsorship | None. Open to anyone age 18 or older; no association or sponsorship with a FINRA member firm is required to sit for the exam | The Securities Industry Essentials (SIE) exam is a corequisite. A candidate must be associated with a FINRA member firm to sit for the Series 6. |
| Who it's for | Anyone 18 or older, including students and career-changers, who wants to demonstrate baseline securities-industry knowledge to prospective employers. It is also a co-requisite for industry professionals: passing the SIE alone does not qualify someone for registration, but it must be paired with a specialized representative-level exam (e.g., Series 6 and 7) once sponsored by a member firm to become fully registered. | Representatives who sell mutual funds, variable annuities, variable life insurance and other investment company and variable contracts products, typically at a broker-dealer or insurance-affiliated firm. |
Source: SIE, FINRA exam details
Source: Series 6, FINRA exam details
How they differ
The SIE is open to anyone 18 or older with no firm sponsorship. The Series 6 requires the SIE as a corequisite and association with a FINRA member firm.
- Eligibility
The SIE needs no firm association; the Series 6 needs association with a FINRA member firm.
- Scope
The SIE is introductory; the Series 6 is a limited-scope representative exam for investment company and variable contracts products.
- Length
The SIE has 75 scored questions in 1 hour 45 minutes; the Series 6 has 50 scored questions in 1 hour 30 minutes.
Sources
Sources checked
SIE
Securities Industry Essentials (SIE) Exam
Series 6
Investment Company and Variable Contracts Products Representative Qualification Examination (Series 6)
What each exam covers
SIE
- Knowledge of Capital Markets16%
- Understanding Products and Their Risks44%
- Understanding Trading, Customer Accounts and Prohibited Activities31%
- Overview of the Regulatory Framework9%
Series 6
- Seeks Business for the Broker-Dealer from Customers and Potential Customers24%
- Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives16%
- Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records50%
- Obtains and Verifies Customers' Purchase and Sales Instructions; Processes, Completes and Confirms Transactions10%
Keep going
Wondering what comes after the SIE?
Anyone 18 or older can take the SIE without a sponsor. If you join Parsonex, the firm helps you prepare for the SIE, then sponsors the licence exams your role needs.