How to Take the SIE Exam Without Firm Sponsorship in 2026
Last updated: February 2026 | Reviewed by Ran Chen, EA, CFP®
Here is the single most important thing you need to know: you do NOT need a job at a brokerage firm or any employer sponsorship to take the Securities Industry Essentials (SIE) exam. Anyone 18 or older can self-enroll, pay the $80 fee, and sit for the exam independently.
Whether you are a college student exploring finance, a career changer pivoting into securities, or a professional between firms, this guide walks you through every step of the self-enrollment process for 2026 -- from creating your FINRA TESS account to walking into (or logging into) Prometric on exam day.
free SIE exam prepFree exam prep with practice questions & AI tutor
SIE Exam Quick Facts for 2026
| Detail | Information |
|---|---|
| Sponsorship Required? | No -- anyone 18+ can self-enroll |
| Exam Fee | $80 (paid directly to FINRA) |
| Number of Questions | 75 multiple-choice (10 are unscored pretest items) |
| Passing Score | 70% (based on 75 scored questions) |
| Time Limit | 1 hour 45 minutes (105 minutes) |
| Results Valid For | 4 years from passing date |
| Enrollment Window | 120 days to schedule after enrollment |
| Retake Wait | 30 days after 1st and 2nd failure; 180 days after 3rd failure |
| Testing Options | Prometric test center or online proctored exam |
Why the SIE Doesn't Require Sponsorship
Before 2018, every FINRA qualification exam required firm sponsorship. That meant you had to be hired by a FINRA member firm before you could even begin the licensing process. This created a catch-22: firms wanted candidates who could hit the ground running, but candidates could not prove their knowledge without taking the exam first.
FINRA introduced the SIE in October 2018 specifically to solve this problem. The SIE was designed as a standalone, entry-level assessment of foundational securities knowledge that anyone can take. It covers:
- Knowledge of Capital Markets (16%) -- regulatory agencies, market structure, economic factors
- Understanding Products (44%) -- equities, debt, packaged products, options, municipal securities
- Understanding Trading, Customer Accounts, and Prohibited Activities (31%) -- order types, account types, settlement, prohibited practices
- Overview of the Regulatory Framework (9%) -- SROs, registration requirements, firm conduct rules
By passing the SIE independently, you demonstrate to potential employers that you already understand the industry fundamentals -- making you a far more attractive hire.
Step-by-Step: How to Self-Enroll for the SIE Exam
Follow these exact steps to register for the SIE without an employer:
Step 1: Gather Your Required Information
Before visiting the FINRA website, have the following ready:
- Social Security Number (SSN) -- required for enrollment. If you do not have an SSN, you can use your mother's maiden name as an alternative identifier
- Valid government-issued photo ID -- driver's license, passport, or state ID
- Payment method -- credit card, debit card, or bank account for the $80 fee
- A Windows desktop or laptop computer -- FINRA recommends using a Windows device and Internet Explorer or Edge for the TESS enrollment system. Some users report issues when enrolling on Mac, mobile, or with certain browsers
Step 2: Visit FINRA's Test Enrollment Services System (TESS)
Navigate to FINRA's enrollment portal. The direct URL is available on FINRA's official website under "Qualification Exams" or by searching "FINRA TESS enrollment."
- Select "Enroll" and choose the option for individuals (not firms)
- Select the SIE exam (Securities Industry Essentials Examination)
Step 3: Create Your Enrollment Account
You will be asked to enter:
- Full legal name (must match your government ID exactly)
- Date of birth
- Social Security Number
- Mailing address
- Email address
- Phone number
Important: Double-check that your name matches your photo ID character for character. Any discrepancy can cause problems at the testing center.
Step 4: Pay the $80 Exam Fee
After completing enrollment, you will be directed to pay the $80 non-refundable exam fee. FINRA accepts major credit and debit cards. Once payment is processed, your 120-day enrollment window begins.
Step 5: Receive Your Enrollment Confirmation
FINRA will send a confirmation email with your enrollment details and a window ID. Save this email -- you will need the enrollment information when scheduling through Prometric.
free SIE practice questions and study toolsFree exam prep with practice questions & AI tutor
How to Schedule Your SIE Exam Through Prometric
Once enrolled through FINRA TESS, you schedule the actual exam appointment through Prometric:
Option A: In-Person at a Prometric Test Center
- Visit the Prometric website (prometric.com) and select FINRA exams
- Enter your enrollment information
- Choose a test center location near you -- Prometric has hundreds of locations across the United States
- Select an available date and time within your 120-day enrollment window
- Confirm your appointment
Most test centers offer morning and afternoon slots Monday through Saturday. In major metro areas, you can often schedule within 1-2 weeks. In rural areas, availability may be more limited, so schedule early.
Option B: Online Proctored Exam (Remote Testing)
FINRA also allows you to take the SIE via online proctoring through Prometric's ProProctor system. This means you can take the exam from home or any private location. Requirements include:
- A quiet, private room with a closed door
- A working webcam and microphone
- A stable internet connection
- A clean desk -- no notes, books, phones, or secondary monitors
- You will be monitored by a live proctor via your webcam throughout the exam
Online proctoring is convenient, but be aware that technical difficulties (internet drops, webcam issues) can disrupt your exam session. If you are prone to test anxiety, the controlled environment of a test center may be preferable.
What to Bring (and What to Leave Behind) on Exam Day
At a Prometric Test Center:
Bring:
- Two forms of identification, at least one with a photo and signature (e.g., driver's license + credit card with signature)
- Your appointment confirmation (printed or on your phone for reference)
Leave behind (provided by the center):
- Scratch paper and pencils -- the center provides a dry-erase board or laminated sheet
- Calculator -- a basic on-screen calculator is provided within the exam software
- Personal items -- you will store bags, phones, watches, and food in a locker
For Online Proctored Exam:
- Government-issued photo ID -- you will show it to your webcam
- Your testing room must be clear of all materials, including sticky notes on walls
- Close all other applications on your computer before launching the exam
What Happens After You Pass the SIE
Congratulations -- but you are not licensed yet. This is the most common misunderstanding among self-enrolled candidates. Here is what passing the SIE does and does not do:
What Passing the SIE Does:
- Validates your foundational knowledge of the securities industry
- Opens the door to employer sponsorship -- firms actively seek candidates who have already passed the SIE
- Starts a 4-year clock -- your SIE results remain valid for 4 years, giving you time to find a firm and complete your top-off exam
- Gives you a competitive edge for internships and entry-level positions
What Passing the SIE Does NOT Do:
- Does NOT register you with FINRA as a securities professional
- Does NOT allow you to sell securities or provide investment advice
- Does NOT replace a top-off exam (Series 6, Series 7, etc.)
Your Next Step: Top-Off Exams
To become fully licensed, you need to pass a representative-level "top-off" exam while associated with a FINRA member firm:
| Top-Off Exam | License Type | Firm Sponsorship Required? |
|---|---|---|
| Series 7 | General Securities Representative | Yes |
| Series 6 | Investment Company/Variable Products Representative | Yes |
| Series 79 | Investment Banking Representative | Yes |
| Series 57 | Securities Trader | Yes |
State-level exams that do NOT require firm sponsorship include:
| Exam | Purpose | Firm Sponsorship Required? |
|---|---|---|
| Series 63 | Uniform Securities Agent State Law | No |
| Series 65 | Uniform Investment Adviser Law | No |
| Series 66 | Uniform Combined State Law (= 63 + 65) | No |
Many candidates choose to take the Series 63 or Series 65 alongside or shortly after the SIE, since those also do not require firm sponsorship. This gives you an even stronger resume when applying to firms.
free SIE exam prepFree exam prep with practice questions & AI tutor
Who Should Take the SIE Without a Sponsor?
College Students
Taking the SIE while still in school is one of the smartest moves you can make. The $80 fee is minimal compared to tuition, and a passing score on your resume signals to recruiters that you are serious about a securities career. Many large broker-dealers and banks actively prefer candidates who have already passed the SIE for their internship and analyst programs.
Career Changers
If you are transitioning from another industry -- teaching, military, tech, healthcare -- the SIE is your proof of concept. Passing it demonstrates that you can learn the material and handle a regulatory exam, which reassures hiring managers at firms who might otherwise hesitate to sponsor someone without industry experience.
Professionals Between Firms
If you were previously associated with a FINRA member firm and your registrations have lapsed, you may need to retake the SIE. Self-enrolling lets you get this done on your own timeline without waiting for a new employer.
Anyone Exploring the Industry
Not sure if securities is right for you? The $80 exam is a low-risk way to test your interest and aptitude. If you pass, you have a valuable credential. If you decide the industry is not for you, you have only invested $80 and some study time.
Complete Cost Breakdown: SIE Exam Without a Sponsor
One of the biggest advantages of the SIE is how affordable it is to take independently. Here is a full cost comparison:
| Expense | Self-Enrolled (No Sponsor) | Firm-Sponsored |
|---|---|---|
| SIE Exam Fee | $80 (you pay) | $80 (firm usually pays) |
| Study Materials | $0 with Open Exam Prep | Firm-provided |
| Paid Prep Course (optional) | $99-$599 | Firm-provided |
| Study Books (optional) | $30-$60 | Firm-provided |
| Travel to Test Center | Your cost | Your cost |
| Total Minimum Cost | $80 | $0 to you |
7 Common Mistakes to Avoid When Self-Enrolling
1. Not studying enough. The SIE has a 70% pass rate, which means roughly 3 in 10 candidates fail. Do not assume it is easy just because it is the "entry-level" exam. Budget 40-60 hours of dedicated study time.
2. Waiting too long to schedule. Your 120-day enrollment window starts the moment you pay. If you wait until the last week to schedule, you may find no available slots near you.
3. Name mismatch on ID. Your name on the TESS enrollment must match your government-issued photo ID exactly. If your ID says "Christopher" do not enroll as "Chris."
4. Using the wrong browser for enrollment. FINRA's TESS system works best on Windows with Internet Explorer or Edge. Mac and mobile users frequently report issues during enrollment.
5. Ignoring the 4-year validity window. Your SIE pass is valid for 4 years. If you do not complete a top-off exam in that window, you will have to retake the SIE. Have a plan for your next exam before the clock runs out.
6. Thinking the SIE alone makes you licensed. Passing the SIE is a critical first step, but you cannot sell securities or advise clients until you pass a top-off exam while associated with a FINRA member firm.
Your SIE Study Plan: Start Today for Free
You do not need to wait for a firm to start preparing. Here is a suggested timeline for self-enrolled candidates:
| Week | Focus Area | Study Hours |
|---|---|---|
| Weeks 1-2 | Knowledge of Capital Markets (16%) | 8-10 hours |
| Weeks 3-4 | Understanding Products -- Equities & Debt (22%) | 10-12 hours |
| Weeks 5-6 | Understanding Products -- Options, Packaged & Municipal (22%) | 10-12 hours |
| Weeks 7-8 | Trading, Accounts & Prohibited Activities (31%) | 12-14 hours |
| Week 9 | Regulatory Framework (9%) + Full Review | 6-8 hours |
| Week 10 | Practice Exams & Weak Area Review | 6-8 hours |
| Total | 52-64 hours |
free SIE exam prepFree exam prep with practice questions & AI tutorStart Your FREE SIE Exam Prep →Free exam prep with practice questions & AI tutor
Official Resources and Links
Here are the official sources referenced in this guide:
- FINRA SIE Exam Overview -- finra.org/registration-exams-ce/qualification-exams/securities-industry-essentials-exam
- FINRA Test Enrollment Services System (TESS) -- finra.org/registration-exams-ce/qualification-exams/enroll
- Prometric Scheduling -- prometric.com/finra
- SIE Exam Content Outline (PDF) -- Available on the FINRA SIE exam page
- FINRA Exam FAQs -- finra.org/registration-exams-ce/qualification-exams/faq
The Bottom Line
The SIE exam is the only FINRA qualification exam you can take without a firm. That is not a limitation -- it is an opportunity. For $80 and a few weeks of focused study, you can prove to the entire securities industry that you have the foundational knowledge to succeed.