SIE, Series 7 and Series 65: Exam Sections by Weight

SIE: 75 questions in four sections

The FINRA SIE page lists four sections: Knowledge of Capital Markets (16%, 12 questions), Understanding Products and Their Risks (44%, 33 questions), Understanding Trading, Customer Accounts and Prohibited Activities (31%, 23 questions) and Overview of the Regulatory Framework (9%, 7 questions).

Series 7: 125 items in four functions

The FINRA Series 7 page lists the number of exam items per function: Function 1, seeking business from customers and potential customers, has 9; Function 2, opening accounts, has 11; Function 3, providing customers with information about investments, making recommendations, transferring assets and maintaining records, has 91; and Function 4, obtaining and verifying purchase and sales instructions and processing transactions, has 14. The page gives counts, not percentages; 91 of 125 is about 73%.

Series 65: 130 questions in four sections

NASAA's Series 65 test specifications, effective June 12, 2023, weight the sections as follows: Economic Factors and Business Information, 15% (20 questions); Investment Vehicle Characteristics, 25% (32); Client Investment Recommendations and Strategies, 30% (39); and Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practices, 30% (39).

Using the weights

A section's weight is its share of the exam's questions. It says nothing about how any one person will find that section. Outlines change, so check the current outline with FINRA or NASAA when you enroll.

Keep going

• SIE practice questions
• Series 7 practice questions
• Series 65 practice questions
• SIE vs. Series 7