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The SIE tests fundamental securities-related knowledge, while revised rep exams focus on day-to-day responsibilities. Results move to Pass/Fail for FINRA-owned exams, including four-year SIE validity, and NASAA Series 63/65/66 plus MSRB Series 50 do not change.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/exam/","Exam",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/finra-exam-restructuring-beginning-october-1-2018-key-features-and-transition/390084/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/finra-exam-restructuring-beginning-october-1-2018-key-features-and-transition/390084.png","ImageObject",300,407,{"name":42,"@type":43},"eBook King","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-28","2026-09-25",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",10,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What changes does FINRA make to representative-level exams starting October 1, 2018?","Question",{"text":63,"@type":64},"FINRA creates the Securities Industry Essentials (SIE) exam and revises the representative-level qualification exams to focus on job-function knowledge instead of duplicative general knowledge.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What does the SIE exam test, and how long are SIE results valid?",{"text":68,"@type":64},"The SIE tests fundamental securities-related knowledge, including basic products, industry structure and regulatory agencies, and regulated vs. prohibited practices. Essentials results are valid for four years.",{"name":70,"@type":61,"acceptedAnswer":71},"How do Pass/Fail results work for FINRA-Owned exams after the restructuring?",{"text":72,"@type":64},"For FINRA-Owned exams, passing candidates receive results only with no score or breakdown, while failing candidates receive results with score and breakdown. After passing, prior failure results are no longer visible in CRD.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},390084,1790532625,{"code":4,"msg":82,"data":83},"success",[84,88,92,95,100,105,110,115,120,123,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":93,"slug":94},70,"exam",{"id":96,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},5,"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":112,"show_sort_weight":113,"slug":114},8,"Research & Report",30,"research-report",{"id":116,"doc_module":4,"doc_module_name":25,"category_name":117,"show_sort_weight":118,"slug":119},9,"Religion & Spirituality",20,"religion-spirituality",{"id":118,"doc_module":4,"doc_module_name":25,"category_name":121,"show_sort_weight":118,"slug":122},"World Cup","world-cup",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":55,"slug":125},"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":96,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":33,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":30,"language":139,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":12,"update_tm":143,"read_time":111,"preview_page_count":4},962088006270,"https://ap-avatar.wpscdn.com/davatar_085a072bc5b1113ac321206ff7593b45","FINRA EXAM RESTRUCTURING  \nBeginning October 1, 2018  \nFINRA is restructuring its representative-level qualification exam program by creating the Securities Industry Essentials (SIE or Essentials) exam and revising the representative-level qualification exams.  \nThe program is being restructured to:  \n1. Reduce duplicative testing of general knowledge when taking exams to register in multiple categories, and  \n2. Make it easier for individuals to enter the securities industry.  \nThe restructured program eliminates duplicative testing of general knowledge by moving such content to the SIE. The SIE will test fundamental securities-related knowledge, including knowledge of basic products; the structure and function of the securities industry, the regulatory agencies and their functions; and regulated and prohibited practices. The revised representative-level qualification exams will test knowledge relevant to day-to-day activities, responsibilities and job functions of representatives.  \nKey Features of the Essentials Exam  \n􀂾 The Essentials exam is open to anyone aged 18 and older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers.  \n􀂾 Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.  \n􀂾 Essentials exam results are valid for four years.  \nNOTE: THE NASAA EXAMS (SERIES 63, 65, AND 66) AND THE MSRB SERIES 50 EXAM WILL NOT  \nBE CHANGING  \nWith the restructuring program, FINRA is moving to a Pass/Fail result system for FINRA-Owned exams. If candidates achieve:  \n• Passing Result-Receive result only, no score or breakdown  \n• Failing Result-Result, Score, and Breakdown  \nNote: Once an individual passes an exam, previous failure results will no longer be visible in CRD.  \nHard Transition Date for New Program: October 1, 2018  \n􀂾 Windows may no longer be opened for legacy exams.  \n􀂾 First day the SIE and Top-Offs will be available to open windows.  \nNote:  \n• Individuals who fail a current rep-exam on or after 9/1/18 will not be eligible to open anew window for the current exam as the 30-day wait period would make them ineligible.  \n• Individuals who fail a legacy exam in September would not have to wait 30 days to retest because the SIE & Top Off are different exams.  \n• Legacy exams could be taken through January of 2019.  \nImpact on Current Registered Reps  \n􀂾 Anyone who obtains and maintains an active license prior to implementation will be“Grandfathered in” and will be considered to have passed the SIE.  \nPLEASE SEE THE FOLLOWING FINRA LINKS FOR ADDITIONAL INFORMATION:  \n[http://www.finra.org/sites/default/files/Regulatory-Notice-17-30.pdf](http://www.finra.org/sites/default/files/Regulatory-Notice-17-30.pdf)  \n[http://www.finra.org/industry/exam-restructuring-sie-exam](http://www.finra.org/industry/exam-restructuring-sie-exam)  \nSIE and Quailification Exam Details  \n Before October 1, 2018 Registration Categories On or After October 1, 2018   \n\n| Series 6\u003Cbr>100 Questions | Investment Company Representative (IR) | SIE\u003Cbr>75 Questions +\u003Cbr>(105 min) | Series 6\u003Cbr>50 Questions\u003Cbr>(90 min) |\n| --- | --- | --- | --- |\n| Series 7\u003Cbr>250 Questions | General Securities Representative (GS) | SIE\u003Cbr>75 Questions + | Series 7\u003Cbr>125 Questions\u003Cbr>(225 min) |\n| Series 22\u003Cbr>100 Questions | DPP Representative (DR) | SIE\u003Cbr>75 Questions +\u003Cbr>(105 min) | Series 22\u003Cbr>50 Questions\u003Cbr>(90 min) |\n| Series 57\u003Cbr>125 Questions | Securities Trader (TD) | SIE\u003Cbr>75 Questions + | Series 57\u003Cbr>50 Questions\u003Cbr>(105 min) |\n| Series 79\u003Cbr>175 Questions | Investment Banking Representative (IB) | SIE\u003Cbr>75 Questions +\u003Cbr>(105 min) | Series 79\u003Cbr>75 Questions\u003Cbr>(150 min) |\n| Series 82\u003Cbr>100 Questions | Private Securities Offerings Representative (PR) | SIE\u003Cbr>75 Questions + | Series 82\u003Cbr>50 Questions\u003Cbr>( 90 min) |\n| Series 7 + Series 86 + Series 87\u003Cbr>250 Questions + 100 Questions + 50 Questions | Research","cbCain3fqqZYhn71","https://ap.wps.com/l/cbCain3fqqZYhn71","pdf",121107,"English","# Program Restructuring Overview\n## Goals of the Restructuring Program\n# Key Features of the Essentials Exam\n## Eligibility and Exam Scheduling\n## Validity Period and Result Reporting\n# NASAA and MSRB Exams\n# Hard Transition Date and Legacy Exam Changes\n## Window Availability Rules\n## Retake Eligibility and Legacy End Date\n# Impact on Current Registered Representatives\n# SIE and Representative Exam Details","[{\"question\":\"What changes does FINRA make to representative-level exams starting October 1, 2018?\",\"answer\":\"FINRA creates the Securities Industry Essentials (SIE) exam and revises the representative-level qualification exams to focus on job-function knowledge instead of duplicative general knowledge.\"},{\"question\":\"What does the SIE exam test, and how long are SIE results valid?\",\"answer\":\"The SIE tests fundamental securities-related knowledge, including basic products, industry structure and regulatory agencies, and regulated vs. prohibited practices. Essentials results are valid for four years.\"},{\"question\":\"How do Pass/Fail results work for FINRA-Owned exams after the restructuring?\",\"answer\":\"For FINRA-Owned exams, passing candidates receive results only with no score or breakdown, while failing candidates receive results with score and breakdown. After passing, prior failure results are no longer visible in CRD.\"}]","FINRA Exam Restructuring - Beginning October 1, 2018 - Key Features and Transition | PDF",1790329699]