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 SIE Practice Test

Take free, original SIE practice questions weighted to the official outline, with an explanation after every answer and a score for each section at the end.

Updated 2026-09-23 · 2 sources · By the SeriesPrepKit team

Free SIE practice test

SIE practice questions

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

How the real SIE is weighted

Our free questions are drawn across these sections. Source: FINRA - SIE Content Outline (2025).
Outline section	Weight	Scored questions
Knowledge of Capital Markets	16%	12
Understanding Products and Their Risks	44%	33
Understanding Trading, Customer Accounts and Prohibited Activities	31%	23
Overview of the Regulatory Framework	9%	7

How the real exam is scored

FINRA reports a scaled score; you need scaled score of 70. Because FINRA equates scores across different exam forms, the passing mark is not a fixed percentage of questions. On our practice tests we show raw % correct by section; aim for a consistent 75-80% on timed full-length tests before booking (our coaching rule of thumb, not an official standard).

Format: 75 scored + 5 unscored multiple-choice questions, four answer choices each.
Time: 1 hr 45 min.
Delivery: Test center or online (remote proctoring open to any SIE candidate).

Get notified when the free full-length SIE exam opens

We are building a free, timed, 75-question SIE exam with a section-by-section score report. Leave your email to be told when it opens; meanwhile, the diagnostic below is live now.

Want the full bank?

Outline-weighted original questions with explanations, section drills and timed full-length exams. $79 one-time, 12 months, free access extension until you pass.

Get SIE access - $79

Frequently asked questions

Is this SIE practice test free?

Yes. The sample questions on this page are free with explanations and no account. The full bank, drills and timed exams are part of paid access ($79 one-time).

Are these real SIE exam questions?

No. Live exam content is confidential. These are original questions written to the published FINRA outline.

How many questions are on the real SIE?

75 scored plus 5 unscored pretest questions, with 1 hr 45 min to finish.

What score should I get on practice tests before the real SIE?

There is no official conversion. As a rule of thumb, book the exam once you score comfortably above the passing mark on several timed full-length tests and no single section is dragging.

Sources

FINRA - Securities Industry Essentials (SIE) Exam (accessed 2026-09-23)
FINRA - SIE Content Outline (2025) (accessed 2026-09-23)