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. No trial, no signup to browse, no credit card.
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
A registered representative engages in the following activities. Each of them constitutes a prohibited practice EXCEPT:
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Correct Answer: D
Solution
D is correct. Trading ahead of a known customer block order is front running, effecting trades between commonly controlled accounts with no change in beneficial ownership is wash trading, and soliciting excessive in-and-out trading inconsistent with the customer's objectives is churning, all of which are prohibited. Advising a customer against an unsuitable transaction is consistent with the representative's best-interest and suitability obligations and is permitted.
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Others charge $1,000+. FreeFellow gives you the 70% you need to pass for free.
The full question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your SIE prep are free forever. 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 70% of SIE prep you actually need to pass (questions, solutions, lessons, mixed practice) is free forever. The remaining 30% (mocks, flashcards, analytics, study plan) unlocks when you become a Fellow. Use the free tier as long as you like.
✓
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 with pass-probability estimates
No paywalls on 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
How FreeFellow Compares
Per-exam pricing across the major prep providers. The FreeFellow core (questions, solutions, lessons) is free forever. The optional Fellow tier is $79 per quarter, a small fraction of what traditional providers charge.
FreeFellow
$0 · Fellow $79/qtr
Kaplan SIE + Series 7
$250–$600
Knopman Marks
$300–$500
Traditional providers bundle prep into a single up-front fee. FreeFellow keeps the question bank and lessons free forever and charges only for deeper study tools (mocks, flashcards, analytics). All numbers are competitor list prices as of 2026.
Everything You Need to Pass
The free tier covers what most candidates need to pass. Fellow ($79/qtr) adds the pacing tools.
✓
894+ Practice QuestionsFREE
Every question includes a detailed, step-by-step solution.
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?
No catch. The 70% of SIE prep you actually need to pass is free forever: the full question bank of 894 practice questions, detailed solutions on every question, mixed practice, the formula sheet, and readiness tracking. No trial period, no credit card. The remaining 30% (timed mock exams, flashcards with spaced repetition, performance analytics, and a personalized study plan) unlocks when you become a Fellow.
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?
Traditional SIE prep providers charge $200 to $3,500 for a single exam, paid upfront. FreeFellow keeps the question bank, written solutions, and lessons free forever. The optional Fellow tier is $79 per quarter (a small fraction of what the big providers charge) and adds mock exams, flashcards, analytics, and a study plan. You can pass SIE entirely on the free tier.
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. The free tier gives you everything you need to build mastery; 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 passed thirteen of the hardest exams in finance on the first attempt, and paid four-figure prep fees for every one. The learning itself was always free. The price was a moat.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 40 finance credentials with more than 45,000 original practice questions. The name says exactly what it is: the question bank is free, and Fellow is what you become once you pass.
01
Cost shouldn't decide who gets in.
The exam is a fair gate. A four-figure prep course is not. FreeFellow takes the second gate down, so the exam is the only one left.
02
Free should mean free.
No trial clock, no email gate, no credit card. The question bank, worked solutions, lessons, and readiness score stay free, and they are enough to pass.
03
Built by someone who sat where you sit.
He paid for the big-name courses, found nothing he respected, and built the prep he wished had existed. Not a marketing team that has never sat an exam.
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.
