SIE Exam Pass Rate Overview for 2026
The Securities Industry Essentials (SIE) exam is the gateway to a career in the securities industry. Understanding the pass rates and exam statistics helps you set realistic expectations and create an effective study plan.
Current SIE Exam Pass Rate Statistics
| Metric | Rate |
|---|---|
| First-time pass rate | ~74% |
| Overall pass rate (including retakes) | ~72% |
| Pass rate with 40+ study hours | ~85% |
| Pass rate with structured prep course | ~80% |
Key Insight: The SIE exam has one of the higher pass rates among FINRA exams, but nearly 1 in 4 first-time test takers still fail. Proper preparation is essential.
What the SIE Pass Rate Means for You
The 74% first-time pass rate tells us several important things:
- The exam is passable - Most prepared candidates succeed on their first attempt
- Preparation matters - The difference between 74% (first-time) and 72% (overall) shows that retakers often still struggle
- Don't underestimate it - A 26% failure rate means over 1 in 4 candidates fail their first attempt
Pass Rate by Preparation Method
Candidates who use structured study programs consistently outperform those who self-study alone:
| Preparation Method | Estimated Pass Rate |
|---|---|
| Structured course + practice exams | 80-85% |
| Self-study with quality materials | 70-75% |
| Minimal preparation | 50-60% |
SIE Exam Pass Rate Trends (2021-2026)
The SIE exam pass rate has remained relatively stable since its introduction in 2018:
| Year | Approximate Pass Rate |
|---|---|
| 2021 | 73% |
| 2022 | 74% |
| 2023 | 73% |
| 2024 | 74% |
| 2025 | 74% |
| 2026 (projected) | 74% |
FINRA periodically updates the exam content to reflect industry changes, but the overall difficulty level has remained consistent.
Factors That Affect Your Chance of Passing
Study Time Investment
Research shows a direct correlation between study hours and pass rates:
| Study Hours | Estimated Pass Rate |
|---|---|
| Under 20 hours | ~55% |
| 20-40 hours | ~70% |
| 40-60 hours | ~82% |
| 60+ hours | ~88% |
Prior Knowledge
Your background significantly impacts how much preparation you need:
- Finance/business degree: May need only 30-40 study hours
- Some financial experience: Typically 40-60 hours
- No finance background: Plan for 60-80+ hours
Study Method Quality
Not all study methods are equally effective:
- Active recall (practice questions): Most effective
- Spaced repetition: Highly effective for retention
- Passive reading: Least effective alone
How to Beat the Average Pass Rate
1. Set a Realistic Timeline
Don't rush your preparation. The most successful candidates:
- Study for 4-6 weeks minimum
- Dedicate 2-3 hours daily or 10-15 hours weekly
- Take at least 5 full practice exams before test day
2. Focus on High-Weight Topics
The SIE exam weights topics differently. Focus your energy on:
| Topic Area | Exam Weight | Priority |
|---|---|---|
| Knowledge of Capital Markets | 16% | High |
| Understanding Products and Their Risks | 44% | Highest |
| Understanding Trading, Customer Accounts and Prohibited Activities | 31% | High |
| Overview of the Regulatory Framework | 9% | Medium |
3. Take Practice Exams Strategically
- Start practice exams 2 weeks before your test date
- Take at least 3 timed, full-length exams
- Review every wrong answer thoroughly
- Target 80%+ on practice exams before scheduling your real exam
4. Learn from Failed Candidates
Common reasons people fail the SIE:
- ❌ Not enough practice questions (just reading the material)
- ❌ Rushing through preparation in under 2 weeks
- ❌ Ignoring regulatory and ethics questions
- ❌ Poor time management on exam day
- ❌ Test anxiety from lack of practice exam experience
SIE Exam Quick Facts
| Detail | Information |
|---|---|
| Number of questions | 75 scored + 10 unscored = 85 total |
| Passing score | 70% (53/75 correct) |
| Time limit | 1 hour 45 minutes (105 minutes) |
| Exam fee | $80 |
| Retake waiting period | 30 days (first 3 attempts), 180 days after |
| Minimum age | 18 years old |
| Sponsorship required? | No |
What to Do If You Fail
If you're among the 26% who don't pass on the first attempt:
- Wait 30 days - Use this time productively
- Analyze your score report - Identify weak topic areas
- Change your study approach - More practice questions, less passive reading
- Consider a structured course - If you self-studied, add structure
- Take more practice exams - Aim for 85%+ before rescheduling
Remember: There's no shame in retaking the exam. Many successful securities professionals didn't pass on their first attempt.
Start Your SIE Exam Preparation
Ready to join the 74% who pass on their first attempt? Our free SIE exam prep course covers all four topic areas with:
- Comprehensive study materials
- Practice questions for every topic
- Clear explanations of complex concepts
- No credit card required
Frequently Asked Questions
What is the pass rate for the SIE exam?
The SIE exam pass rate is approximately 74% for first-time test takers and 72% overall (including retakes). This makes the SIE one of the more accessible FINRA exams.
Is the SIE exam hard?
The SIE exam is considered moderately difficult. With proper preparation (40+ hours of study), most candidates pass on their first attempt. The 74% pass rate is higher than more advanced exams like the Series 7 (65%) or Series 66 (68%).
How many questions do you need to pass the SIE?
You need to correctly answer 53 out of 75 scored questions (70%) to pass. The exam includes 85 total questions, but 10 are unscored pretest questions.
What is the SIE exam retake policy?
If you fail, you must wait 30 days before retaking the exam. After three failed attempts, the waiting period increases to 180 days. There is no limit to total attempts.
Does the SIE exam ever expire?
Yes, the SIE exam is valid for 4 years. If you don't pass a top-off exam (Series 6, 7, etc.) within 4 years of passing the SIE, you'll need to retake it.