The SIE and Series 7 are both FINRA exams, but they sit at different levels. The SIE is an entry-level exam anyone can take; the Series 7 is a representative-level qualification that requires a sponsoring firm and lets you sell a broad range of securities. Most people take the SIE first, then the Series 7.
SIE vs Series 7 at a glance
| SIE | Series 7 | |
|---|---|---|
| Level | Entry-level (foundational) | Representative qualification |
| Sponsorship | None — anyone 18+ | Must be sponsored by a FINRA member firm |
| Scored questions | 75 | 125 |
| Time | 1 hr 45 min | 3 hr 45 min |
| Passing score | 70% | 72% |
| First-attempt pass rate | ~74% | ~65–72% |
| Cost | $80 | $300 |
Which should you take first?
The SIE first, in almost every case. To register as a General Securities Representative you need both the SIE and the Series 7 — the SIE is effectively a co-requisite. Because the SIE has no sponsorship requirement, many candidates pass it before or while job-hunting, then complete the Series 7 once a firm sponsors them.
How much harder is the Series 7?
Noticeably harder. It is longer, has a higher passing score, and goes far deeper into options, municipal securities, suitability, and the math behind them — topics the SIE only introduces. See Series 7 pass rate and is the SIE hard? for detail on each.
Start with a free SIE practice test, then prepare with the SIE course and the Series 7 course — each with explained question banks, full-length timed exams, and a live readiness score.
Pass-rate figures are industry estimates and vary period to period.
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