The Securities Industry Essentials® (SIE®) Exam is a 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.

The SIE is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to prospective employers. Association with a firm is not required to take the SIE, and results are valid for four years.

Passing the SIE alone does not qualify an individual for registration with a FINRA member firm or to engage in securities business. In order to become registered to engage in securities business, an individual must pass the SIE and a qualification exam appropriate for the type of business the individual will engage in. The individual must be associated with a member firm to take a qualification exam.

The Series 3 exam—the National Commodities Futures Examination—is a National Futures Association (NFA) exam administered by FINRA.

The exam consists of 120 scored questions. Candidates have two hours and 30 minutes to complete the exam, which consists of two parts. A candidate must score 70% on each part in order to pass the exam.

Note: NFA exams are required to be taken in a test center. Online testing for NFA exams will be considered for individuals who live more than 150 miles from a testing center or those who are immunocompromised or experiencing underlying health conditions that put them at an increased risk for severe illness. Learn more by visiting the How to Schedule an Appointment to Take an Exam Online (Remotely) page.

For additional information about this exam, including the content outline, please visit the National Futures Association Proficiency Exam page.