Under Rule 506(b) of Regulation D, an issuer may sell to:

Unlimited accredited investors and up to 35 non-accredited but sophisticated investors, without general solicitation

Unlimited investors of any type, using general solicitation

Only accredited investors, using general solicitation with verification

Up to 35 accredited investors and unlimited non-accredited investors

Which economic indicator is generally classified as a LEADING indicator?

Building permits for new private housing

Average duration of unemployment

Commercial and industrial loans outstanding

When a company's common stock rises well above the conversion price of its convertible preferred, the convertible preferred's market price will tend to:

Rise along with the value of the common it converts into

Stay near par because the dividend is fixed

Fall because conversion becomes less likely

Relative to a company's common stock and bonds, where does preferred stock stand?

Ahead of common stock but behind bonds for dividends and liquidation

Ahead of bonds but behind common stock

Ahead of both common stock and bonds

Behind both common stock and bonds

An investor owns 400 shares trading at $3. The company executes a 1-for-4 reverse split. After the split, the investor owns:

100 shares at approximately $12

1,600 shares at approximately $0.75

400 shares at approximately $12

Which statement about Treasury STRIPS is TRUE?

They are zero-coupon securities, so investors holding to maturity face no reinvestment risk

They pay semiannual interest at a floating rate

They are sold directly by the Treasury at auction as zero-coupon bonds

They are backed by pools of home mortgages

Free FINRA Practice Tests

Free, original practice questions for the SIE, Series 6, 7, 63, 65 and 66, with explanations and a score for each official outline section. Pick your exam below.

Updated 2026-09-23 · 6 sources · By the SeriesPrepKit team

Pick your exam

Free test	Real exam: scored Qs	Real exam: time	To pass
SIE practice test	75	1 hr 45 min	70 (scaled)
Series 7 practice test	125	3 hr 45 min	72 (scaled)
Series 6 practice test	50	1 hr 30 min	70 (scaled)
Series 63 practice test	60	75 min	43 of 60 correct (about 72%)
Series 65 practice test	130	3 hr	92 of 130 correct (about 71%)
Series 66 practice test	100	2 hr 30 min	73 of 100 correct (73%)

How our free tests work

Original questions only. Written by our editorial team and mapped to the official FINRA or NASAA outline. We never use recalled “real exam questions” and reject any that are submitted to us.
Scored by section. At the end you see your score for each outline section, so you know where to spend your next hour.
Explanations on every question, including why the tempting wrong answer is wrong.
No account needed for the free sample.

Start with 10 free SIE questions

SIE practice questions

Which entity sets the initial margin requirement that limits how much credit broker-dealers may extend to customers to purchase securities?

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Frequently asked questions

Are these real FINRA exam questions?

No. Real exam content is confidential and FINRA prohibits sharing it. Every question here is original and written to the published outline.

Does FINRA offer a free practice test?

FINRA links practice resources for some exams from its exam pages; check the “Prepare for your exam” links on each FINRA exam page. Our tests are independent.

How many practice questions should I do?

Enough to see every outline section several times and to score consistently above the passing mark on full-length timed tests. Section scores matter more than a raw count.

Sources

FINRA - Qualification Exams (accessed 2026-09-23)
FINRA - SIE Content Outline (2025) (accessed 2026-09-23)
FINRA - Series 7 Content Outline (2025) (accessed 2026-09-23)
NASAA - Series 63 Test Specifications (effective June 12, 2023) (accessed 2026-09-23)
NASAA - Series 65 Test Specifications (effective June 12, 2023) (accessed 2026-09-23)
NASAA - Series 66 Test Specifications (effective June 12, 2023) (accessed 2026-09-23)