SIE Exam Bootcamp

Solomon Exam Prep is pleased announce a joint venture with University of California, Berkeley: SIE Exam Bootcamp! Continue reading

Solomon Exam Prep is pleased announce a joint venture with University of California, Berkeley: SIE Exam Bootcamp! This intensive, four-day, live class will prepare you for a career in the securities industry!

What is the SIE?
SIE stands for Securities Industry Essentials. The SIE is a fundamental exam that will launch on October 1st, making it easier for everyone to enter the securities industry. It is the new co-requisite for many FINRA licensing exams, including the Series 6, 7, 22, 57, 79, 82, and 99. The SIE Exam Bootcamp will cover every topic in the SIE exam:

1. Equity Securities
2. Debt Securities
3. Investment Companies, Life Insurance Products, & Other Packaged Securities
4. Options & Alternative Investments
5. Risk, Disclosures, & Taxation
6. Issuing Securities: The Primary Market
7. The Securities Markets
8. Customer Accounts
9. Prohibited Activities and Conduct Rules
10. Regulatory Responsibilities

Why the SIE?
Starting October 1st, passing the SIE will be the first step to getting licensed in the securities industry. If you want to get ahead of the curve, or if you need a better grasp of the basics of securities and the markets, the SIE exam course will be a thorough and valuable introduction. Students will also be provided with comprehensive study materials from Solomon Exam Prep and continued tutoring options upon completion of the SIE Exam Bootcamp.

How Can I Take The Class?
The UC Berkeley SIE Exam Bootcamp will take place August 6-9 on the UC Berkeley campus.
For more information, go to: https://executive.law.berkeley.edu/custom-options/sie-exam-bootcamp/

Solomon Exam Prep and NASA launch SIE mission to Mars

In preparation for the October 1 launch of the Securities Industry Essentials (SIE) exam, Solomon Exam Prep teamed with NASA to send Solomon SIE exam study materials to the Red Planet. Continue reading

In preparation for the October 1 launch of the Securities Industry Essentials (SIE) exam, Solomon Exam Prep teamed with NASA to send Solomon SIE exam study materials to the Red Planet.

Unlike other FINRA securities licensing exams, the SIE exam will be open to anyone 18 years or older who is interested in the securities industry. FINRA has not publicly stated whether Martians will be permitted to take the SIE exam but since FINRA is dedicated to “investor protection” and to promoting “market integrity” Solomon takes the position that investors and markets on other planets can benefit from securities education, and the SIE in particular. Solomon has helped thousands of earthlings pass their Series 7, Series 6, Series 65, Series 63, Series 24, Series 50, Series 79 and other securities licensing exams.

Elon Musk has not responded to the news of the joint NASA/Solomon Exam Prep mission.

Bring the SIE to Your Summer Internship Program

Summer internships offer firms a way to stay young and grow. Continue reading

The Securities Industry Essentials (SIE) exam comes bearing more gifts! Not only does the SIE help individuals break into the securities industry, it also provides some incredible opportunities for employers.

Summer internships offer firms a way to stay young and grow.

College students or recently graduated students are the future of your firm and the SIE makes it a lot easier to ensure your firm’s future is bright!

Since the SIE exam will not require BD employment or sponsorship or even a background check, what better way to help your interns succeed than have them study for the SIE exam! By giving your interns the chance to study for the SIE during your program, they will be ready to work for you full time upon graduation.

You can learn more about the SIE and Solomon here.

Solomon offers a complete SIE curriculum including online and print study materials.

Call 503-601-0212 to offer your summer interns the educational experience they will appreciate and value for the rest of their lives!

 

Time is of the essence for anyone who wants to take the Series 82 exam

Alert! Starting October 1, the number of exam questions for the Series 82 Private Securities Offerings Representative licensing category will increase from 100 questions to 125 questions. Continue reading

Alert! Starting October 1, the number of exam questions for the Series 82 Private Securities Offerings Representative licensing category will increase from 100 questions to 125 questions. That’s because starting October 1, the Series 82 exam, like all FINRA representative level exams, is being divided into two exams: the SIE (75 questions) and the Series 82 “top-off” (50 questions). More work!

But if you don’t want to take 25 additional questions, not to mention take two exams instead of one, then Solomon Exam Prep recommends you take your Series 82 exam pronto, before October 1.

Series 82 students will also be happy to know that Solomon Exam Prep has just updated its Series 82 Video Lecture with updates about Regulation D, Rule 147, and research report rules.  The Solomon Exam Prep Video Lecture is a critical piece of the Solomon Securities Exam Prep system that also includes the Exam Guide, the Audio Guide and the Exam Simulator.

Spring is in the air and there has never been a better time to take the Series 82! 

FINRA Proposes $60 Fee for Securities Industry Essentials (SIE) Exam

As the Securities Industry Essentials (SIE) exam looms in the distance, FINRA is moving full steam ahead to ready the exam for its October 1 launch. Continue reading

On December 20, 2017, FINRA held its Board of Governors Meeting to discuss rule proposals and the 2018 budget. One rule that was addressed was the fee for the Securities Industry Essentials (SIE) exam. FINRA chose a fee of $60 for the exam. This rule change will be filed with the SEC and await approval sometime in the new year.

The $60 fee is considerably less than the $100 fee for the Series 6 and the $305 fee for the Series 7 exam. FINRA’s meeting notes report that the price for other exams will be reevaluated as well, to adhere to the changing securities landscape.

Jeremy Solomon, President of Solomon Exam Prep, responded to the proposed fee:

“This is another indication of how serious FINRA and the industry is about making the SIE exam as user-friendly and available as possible. Kudos to FINRA.”

For more information about the SIE or other FINRA, NASAA or MSRB securities licensing exams, visit www.solomonexamprep.com or give us a call at 503-601-0212.

FAQs for the Securities Industry Essentials Exam (SIE)

Do you know what is going to be on the SIE exam? What about if you’re already registered, will you have to take the SIE? Here are the most up-to-date answers for all your SIE questions. Continue reading

View PDF / Printer-Friendly Version

When will the SIE exam begin?
October 1, 2018

What is the SIE exam going to test?
FINRA states that the SIE will test fundamental securities-related knowledge, including knowledge of basic products, such as stocks, bonds and mutual funds. It will also test securities industry rules and regulations.

Will I need to be employed by a broker-dealer in order to take the SIE?
No, unlike current FINRA licensing exams, you will not need to have a job with a broker-dealer in order to take the SIE exam.

Will a minor be permitted to take the SIE?
No, you will have to be at least 18 years old to take the SIE.

For how long will a passing score on the SIE be valid?
Four years from the date you pass the SIE.

How many questions will there be on the SIE exam?
75

How much time will I have to take the exam?
105 minutes

If I fail the SIE, will I be permitted to retake the exam?
Yes, if you fail the SIE, you will be permitted to retake it, but you will have to wait 30 days. FINRA is maintaining its 30/30/180 day rule with respect to the SIE. This means that if you fail the SIE you must wait 30 days to retest. However, if you’re unlucky enough to fail it three times, as with other securities exams, you will have to wait 180 days to take it again. This same 30/30/180 day rule will apply to the specialized representative-level exams (the so-called “top-off” exams).

If I pass the SIE, will I be permitted to take the SIE exam again, just for fun?
FINRA says no. Killjoys.

Will SIE test-takers receive their scores?
Unlike current licensing exams, FINRA has indicated that it will provide SIE test-takers with pass/fail information only. However, there has been discussion about providing those who fail the SIE with additional information about their results.

If I am already registered, will I have to take the SIE?
If you are a registered representative before October 1, 2018, and you maintain your registration on or after October 1, 2018, FINRA will credit you with the SIE.

What if I was once a registered representative but my registration lapsed, will I have to take the SIE if I want to get back in the securities industry?
If your registration terminated between October 1, 2014, and September 30, 2018, provided you re-register as a representative within four years from the date of your last registration, then you will not have to take the SIE. In other words, after two years outside the securities industry if you want to become registered again you will have to retake a representative-level qualification exam (the so-called top-off exams) such as the Series 6 or the Series 7.

What if my registration lapsed or terminated before October 1, 2014?
In order to get re-registered, you will have to pass the SIE and any relevant top-off exam, such as the Series 6 or Series 7.

If I am registered in an exam license that is being retired by FINRA — such as the Series 11, Series 62, Series 42 or Series 72 – will I have to take the SIE exam if I leave the industry?
Not if you leave the industry and return within two years.

What if I want to become a municipal securities representative? Is the SIE relevant?
The MSRB has indicated that it plans to coordinate its licensing exams with the new SIE, so after October 2018 it’s likely that in order to become a Municipal Securities Representative you will need to first take the SIE and then a revised “top-off” version of the Series 52 exam.

If I pass the SIE, will I become a “registered representative?”
No, in order to be registered for a particular function, you must pass the SIE and then get hired by a broker-dealer and then pass a representative-level qualifying exam, such as the Series 6 or Series 7.

Will it be possible to take the SIE and a representative-level exam on the same day?
Yes, as long as you reserve time at a testing center for both exams on the same day.

Will it be easier to pass the SIE and the revised representative level (top-off) qualification exam than it will be to pass the current representative-level exam?
Unclear. A lot depends on whether you’d rather take one longer test or two shorter ones. If you’d prefer to take one longer test, you should take your exams before October 1, 2018. After October 1, 2018, in terms of number of questions, some representative-level qualification categories will require more testing and some will require less testing. See the table in the PDF for detail.

Who offers the best SIE study materials and where can I get them?
Go to Solomon Exam Prep or call 503-601-0212.

Where should I go to schedule my exam?
Prometric.

Will the 120-day “exam window” still apply to the SIE?
Yes, FINRA will continue its system of giving test-takers a 120-day exam window during which you will be able to take the SIE.

How much will it cost to take the SIE?
FINRA has not published a price yet.

If I am an employer and I work for a broker-dealer, will I be able to find out whether a job candidate or any individual passed the SIE?
Yes, according to FINRA, broker-dealers will be able to confirm via Web CRD whether someone passed the SIE.

Have more questions? Visit our SIE page!

November Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Congratulations to Elizabeth S., this month’s Study Question of the Month winner!

Question

Relevant to the SIESeries 7, Series 24, Series 79, and Series 82.

 

 

 

 

 

Which of the following would not necessarily be restricted shares when you purchase them?:

A. Shares sold by the CEO of the issuing company

B. Shares sold by the CEO’s wife of the issuing company

C. Shares sold by the assistant to the CEO of the issuing company

D. Shares sold by a major shareholder (more than 10% ownership) of the issuing company

Answer: C.

Securities that are held by control persons are called control securities. A control person, or affiliated person, is an individual in a position to exert direct influence on the actions of an issuer. For example, officers, directors, policy-making executives, major shareholders (generally own 10% or more of outstanding shares), and other people who are in a position to directly or indirectly control the management of the company are considered control persons. This includes spouses, family members who live with them, and other entities such as trusts or corporations affiliated with control persons, as defined in Rule 144. When control securities are sold, they become restricted securities even if they were not restricted securities previously.

Solomon’s SIE Study Materials—Now Available

Looking to kick start your career? You’ve come to the right place! Continue reading

Looking to kick start your career? You’ve come to the right place!

Many people are aware that FINRA is giving the securities industry a face-lift. Hoping to attract more securities professionals, FINRA is going to release a new exam in 2018. The Securities Industry Essentials (SIE) exam will give the industry a chance to attract some new prospects.

In the past, FINRA’s exams were only available to those employed by a broker-dealer and working in the industry. The SIE exam is going to change that. This exam will be available to anyone who wants to take it.

While the exam won’t be available until 2018, Solomon Exam Prep remains in front of the competition and released SIE study materials earlier this week. Known for our high pass rates, no-nonsense study guides, and industry-leading exam simulators, we’re excited to unveil our SIE study materials to the public. Check out our SIE exam study guide and online exam simulator here!

President and founder of Solomon Exam Prep, Jeremy Solomon, articulates the importance of the SIE exam:

“The SIE exam is going to change the entire structure of the securities industry. Our goal is to provide students with the tools and resources they need to pass the exam and land a job in this dynamic profession.”

Don’t wait! Get a head start on your studying and impress your future employers by acing the SIE exam. You’ll thank us later!

Our SIE study materials are available in the popular Essentials Package or for individual purchase.

Interested in learning more? For a free consult about implementing an SIE program at your institution, call Jeremy Solomon at 503-601-0212 or email him at Jeremy@SolomonExamPrep.Com