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Administration details include computer-based delivery, 1 hour 45 minutes allotted time, no penalty for guessing, and equating of scores on a common scale. 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The exam focuses on industry terminology, securities products, the structure and function of the markets, regulatory agencies and their functions, and regulated and prohibited practices. For more information about the SIE, see FINRA Rule 1210.03.  \nSTRUCTURE OF THE EXAM  \nThe exam consists of 75 multiple-choice items, and each item consists of four answer choices. The allocation of test items is as follows:  \nSection  \nDescription  \nPercentage of Exam Items  \nNumber of Items  \n\n| 1 | Knowledge of Capital Markets | 16% | 12 |\n| --- | --- | --- | --- |\n| 2 | Understanding Products and Their Risks | 44% | 33 |\n| 3 | Understanding Trading, Customer Accounts and Prohibited Activities | 31% | 23 |\n| 4 | Overview of the Regulatory Framework | 9% | 7 |\n\nTOTAL 100% 75  \nMuch of the content on the SIE outline is based on common securities industry knowledge and general concepts. This knowledge is often not based on any one rule or regulation. Examples include basic characteristics of investment products such as the relationship between the price and yield of a bond and the rights of a common stockholder. Alternately, some knowledge is based on specific rules and regulations. Examples include the reporting requirements for a Suspicious Activity Report (SAR) and the Uniform Application for Securities Industry Registration or Transfer (Form U4) filing requirements. The exam will assess candidates on both rule-and non-rule-based industry knowledge.  \nSeveral federal laws and regulations serve as the foundation for some of the knowledge contained in this outline. The content upon which the outline is based includes but is not limited to rules and regulations under the following Acts:  \nThe Securities Act of 1933  \nThe Securities Exchange Act of 1934  \nThe Investment Company Act of 1940  \nThe Investment Adviser Act of 1940  \nADMINISTRATION OF THE EXAM  \nThe exam is administered via computer. A tutorial on how to take the exam is provided prior to taking the exam. Each candidate’s exam includes 10 additional, unidentified pretest items that do not contribute toward the candidate's score. Thepretest items are randomly distributed throughout the exam. Therefore, each candidate’s exam consists of a total of 85 items (75 scored and 10 unscored) . There is no penalty for guessing. Therefore, candidates should attempt to answer all items. Candidates will be allowed 1 hour and 45 minutes to complete the SIE exam.  \nAll candidate test scores are placed on a common scale using a statistical adjustment process known as equating. Equating scores to a common scale accounts for the slight variations in difficulty that may exist among the different sets of exam items that candidates receive. This allows for a fair comparison of scores and ensures that every candidate is held to the same passing standard regardless of which set of exam items they received.  \nCandidates are not permitted to bring reference materials to their testing session. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA-administered exams.  \n[Please visit](Please visit www.finra.org)[ ](Please visit www.finra.org)[www.finra.org](Please visit www.finra.org) for additional details.  \nSection 1 : Knowledge of Capital Markets  \n1.1 Regulatory Entities, Agencies and Market Participants  \n1.1.1 The Securities and Exchange Commission (SEC)  \n• The high-level purpose and mission of securities regulation  \n• Definition, jurisdiction and authority of the SEC  \n1.1.2 Self-regulatory Organizations (SROs)  \n• Purpose and mission of an SRO  \n• Jurisdiction and authority of SROs (e.g. , CBOE, FINRA, MSRB)  \n1.1.3 Other Regulators and Agencies  \n• Department of the Treasury/IRS  \n• State regulators (e.g. , NASAA)  \n• The Federal Reserve  \n• Securities Investor Protection","cbCaieVENHW9II0m","https://ap.wps.com/l/cbCaieVENHW9II0m","pdf",239551,15,"English","# Purpose of the Exam\n# Structure of the Exam\n# Administration of the Exam\n# Section 1: Knowledge of Capital Markets\n## Regulatory Entities, Agencies and Market Participants\n## Market Structure\n## Economic Factors\n## Offerings","[{\"question\":\"What knowledge areas does the SIE exam assess?\",\"answer\":\"The exam assesses basic knowledge of the securities industry, including industry terminology, securities products, market structure and functions, regulatory agencies and their functions, and regulated versus prohibited practices.\"},{\"question\":\"How is the SIE exam structured and scored?\",\"answer\":\"The exam includes 75 scored multiple-choice items, each with four answer choices, plus 10 additional unidentified pretest items that do not affect the score. Scores are placed on a common scale using equating.\"},{\"question\":\"What are the exam administration rules and timing?\",\"answer\":\"The exam is administered via computer with a tutorial provided beforehand. Candidates have 1 hour and 45 minutes, are not penalized for guessing, and cannot bring reference materials into the testing session.\"}]","Securities Industry Essentials (SIE) - Examination - CONTENT OUTLINE | PDF",1790402456,38]