When it comes to the SIE Exam composition, we get asked all the time about where to focus. In today’s note, we explain why the answer is not as easy as many would like.
SIE Exam Composition: Breadth
Common feedback that we receive from students about the SIE Exam, is that its breadth is wide. In essence, there is no topic in particular emphasized disproportionately. As a result, our best advice – and often disappointing to our students – is to study everything.
While this answer may come across as a copout from professional “advice-givers”, unfortunately we found that it’s the best approach for this introductory exam. For the most part, the content can take some time to study but is digestible. Most areas of confusion can be cleared up with some time spent on Investopedia, or reading, and re-reading the text. We, of course, are also partial to our SIE video course (or tutoring) if you really want to boost your score.
Furthermore, should you have to take the Series 7 Exam next, you will find a whole different animal.
For instance, the Series 7 Exam has similar content but requires more focus on certain sections such as Options, Municipal Securities, Suitability, and others.
The SIE Exam is simply more broad. So then, how do you study for it?
Memory Work Helps
This is one FINRA exam where you can get away with memorizing your way through it.
Recognizing multiple choice answers will certainly help you out. That said, a deeper understanding of the logic behind each question will be more effective and helpful in the long run. Subsequent exams will build on the knowledge that you attain from the SIE Exam.
For instance, the Series 6, Series 7, Series 66, and Series 63 have some overlap with the SIE Exam. In other words, you will have to know the material at some point so if you have the time, try mastering it with the SIE exam first.
All in all, there are some harder sections in the SIE exam that may take more attention. Options and Bonds, are two of the most common sections for which we get tutoring requests.
If you need some help, you know where to find us.
Otherwise, try to cover as much material as you can and then test yourself with STC or FINRA’s online practice exam.
These are both excellent gauges to get a sense of how you will perform. Good luck!