Free FINRA SIE (Securities Industry Essentials) Practice Exam & Questions
The entire FINRA SIE question bank is free: 894 practice questions on capital markets, investment products and risks, trading and customer accounts, and the regulatory framework. From FreeFellow, where 'free' is in the brand name. Public samples need no signup. The full original question bank is free with an account, subject to usage limits.
894 questions4 topics2026 syllabus
Built by Jeffrey Ting, FSA, CFA, who passed thirteen of the hardest finance exams on the first attempt. The full question bank and worked solutions are free forever.
Instant readiness score in about 6 minutes. No signup to start.
Sample Questions
Question 1
Easy
The fourth market is best described as:
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Correct Answer: C
Solution
C is correct. The fourth market consists of direct institution-to-institution transactions, generally facilitated through electronic communication networks (ECNs) and alternative trading systems, without a broker-dealer acting as intermediary. The first market is exchange-floor trading of listed stocks, the third market is OTC trading of exchange-listed stocks between broker-dealers, and primary-market transactions involve new-issue distributions rather than secondary trading.
Question 2
Medium
A zero-coupon corporate bond is best described as a bond that:
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Correct Answer: D
Solution
Choice D is correct because zero-coupon bonds are issued at a significant discount from their face (par) value and make no periodic coupon (interest) payments. The investor's return comes entirely from the difference between the discounted purchase price and the full face value received at maturity. The imputed interest is taxed annually (phantom income) even though no cash is received until maturity.
Question 3
Hard
On Form U4, how many years of residential history and of employment history must a registered person disclose?
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Correct Answer: D
Solution
Choice D is correct because Form U4 (Uniform Application for Securities Industry Registration or Transfer) requires a 5-year residential history and a 10-year employment history. Additionally, the form requires disclosure of criminal charges, regulatory actions, customer complaints, arbitration awards, civil judicial actions, terminations for cause, and financial disclosures such as bankruptcies.
What SIE candidates are saying
“The questions on this website were a huge help, and I just want to say thank you. Getting into the repetition of doing questions and getting an idea of what the exam would look like is something I'm truly grateful for.”
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Free practice questions, worked solutions, and written lessons.
The full original question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your SIE prep are free forever. Full access requires a free account and is subject to usage limits. No trial period, no credit card. Become a Fellow ($79/qtr) only if you want mock exams, flashcards, analytics, and a personalized study plan.
What's Free, and What Fellow Unlocks
The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Full access requires a free account and is subject to usage limits. Fellow adds mock exams, flashcards, analytics, and a personalized study plan.
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Free forever
$0 · no credit card
894 practice questions with detailed solutions
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking based on practice history
No paywalls on original questions · no trial period · no credit card
✦
Fellow unlock
$39 / mo · $79 / qtr per track · $199 / yr as Fellow Plus
Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
Personalized study plan that adapts to your exam date
SIE uses continuous testing: candidates schedule on demand at a test center rather than waiting for a fixed sitting window. Confirm scheduling details and fees directly with FINRA before registering.
Frequently Asked Questions
How many free SIE practice questions does FreeFellow have?
FreeFellow currently offers 894 free SIE practice questions across 4 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What SIE topics are covered?
The questions cover 4 topics: Knowledge of Capital Markets, Understanding Products and Their Risks, Understanding Trading, Customer Accounts and Prohibited Activities, Overview of the Regulatory Framework. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
How many questions are on the SIE exam, and how long is it?
The SIE delivers 80 multiple-choice questions, of which 75 are scored and 5 are unscored pretest items that do not count toward your result (FINRA). Testing time is 1 hour 45 minutes. FreeFellow's SIE practice questions follow this format, and the free mixed practice draws from the full bank.
What is a passing score on the SIE?
SIE is graded at 70 (equated) (FINRA). FreeFellow's readiness score estimates where you sit against that bar from your own practice history, and it is free.
Is FreeFellow really free for SIE prep, or is there a catch?
The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free. The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Timed mock exams, spaced-repetition flashcards, AI grading on supported exams (5 attempts a day), performance analytics, and a personalized study plan. Practice and grading usage limits apply.
What does the $79 Fellow tier unlock for SIE?
Fellow is $39 per month or $79 per quarter, per exam family (USD). Fellow Plus is $49 per month, $99 per quarter, or $199 per year, per exam family (USD). Every annual plan is Fellow Plus. Fellow adds timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else (questions, solutions, lessons) stays free.
How does FreeFellow compare to Kaplan, Knopman, or Securities Training on price?
The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free. The original question bank, worked solutions, and written lessons stay free forever. Fellow is $39 per month or $79 per quarter, per exam family (USD). See https://freefellow.org/pricing for package prices and coverage.
How should I use FreeFellow to study for SIE?
Start with topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. If you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
Do I need employer sponsorship to take the SIE?
No. The SIE (Securities Industry Essentials) does not require employer sponsorship. You can register directly through FINRA and take it at a Prometric testing center (FINRA).
About FreeFellow
Jeffrey Ting
FSA, CFA · Founder
FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who has passed thirteen of the hardest exams in finance, all on his first attempt. He paid four-figure prep fees along the way.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 40 exams with more than 46,000 original practice questions.
01
Cost shouldn't decide who gets in.
A CFA charter, a CPA license, an actuarial credential. Each opens a real career, but prep fees add to the cost of getting there. FreeFellow keeps its original question bank and written lessons free so you can study even if a paid course is out of reach.
02
Free should mean free.
The original question bank, the worked solutions, the topic lessons, mixed practice, and your readiness score stay free, forever. Full access needs a free account, and practice usage limits apply. Fellow adds AI grading on supported exams, spaced-repetition flashcards, full-length mock exams, analytics, and a study plan that adapts to your progress.
All 894 SIE questions, worked solutions, and lessons are free. The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free.
