United States · ExamThe SIE, Series 7 and 63 side by side
As of October 2026, from FINRA’s exam pages and the Series 7 content outline:
| SIE | Series 7 | Series 63 | |
|---|---|---|---|
| Written by | FINRA | FINRA | NASAA (FINRA runs it) |
| Sponsor needed | No | Yes, a member firm | No |
| Questions | 75 scored + 5 unscored | 125 scored + 5 unscored | 60 scored + 5 unscored |
| Time | 1 h 45 min | 3 h 45 min | 75 min |
| To pass | Score of 70 | Score of 72 | 43 of 60 right |
| Fee | $100 | $395 | $147 |
What’s the difference between the SIE and Series 7?
The SIE checks basic industry knowledge, and anyone 18 or older can take it. The Series 7 qualifies you to sell all securities products, including corporate and municipal securities, options, investment company products and variable contracts. FINRA calls the SIE its corequisite: you need both passes to get the registration.
In FINRA’s 2025 outline, 91 of the 125 scored questions fall under one job function: giving customers information about investments, making recommendations, transferring assets and keeping records.
Taking the SIE and Series 7: order and timing
FINRA says the order doesn’t matter as long as you pass both. You can take them on the same day if Prometric has seats, as two separate sessions.
An SIE pass lasts four years, and you can take it before you join a firm. If you register within those four years, the Series 7 is the only exam left for this registration.
Do you need all three of the SIE, Series 7 and 63?
NASAA says most states require the Series 63 for broker-dealer agents. A state can also ask for more, such as an application, a background check, bonding and fees, so check with the securities regulator in each state where you’ll do business.
You don’t need a sponsor for the Series 63. If you aren’t with a firm, you can open a window yourself through FINRA’s Test Enrollment Services System. NASAA says most states follow a two-year rule: after you pass, you have two years to become licensed before the exam expires.
Retake waits for the Series 63, 65 and 66
NASAA’s retake waits differ from FINRA’s. For the Series 63, 65 and 66, you wait 30 days after a first or second fail. After a third fail in two years the wait is 180 days, dropping to 60 days for windows opened on or after January 4, 2027.
FINRA’s own exams, including the SIE and Series 7, follow FINRA’s waits, which change on January 19, 2027.
The Series 66 instead of the 63, and the Series 65
The Series 66 combines state law for both broker-dealer agents and investment adviser representatives. The Series 7 is its corequisite. With a valid SIE and Series 7, a Series 66 pass counts as passing both the 63 and the 65. The Series 65 is the investment adviser law exam and has no corequisite.
| Series 65 | Series 66 | |
|---|---|---|
| Questions | 130 scored + 10 unscored | 100 scored + 10 unscored |
| Time | 180 min | 150 min |
| To pass | 92 of 130 right | 73 of 100 right |
| Fee | $187 | $177 |
Sources: FINRA · NASAA and 5 more. Checked October 2026.
- FINRA: Series 7 Exam ↗
- FINRA: Series 7 Content Outline (PDF) ↗
- FINRA: Series 63 Exam ↗
- FINRA: Series 65 Exam ↗
- FINRA: Series 66 Exam ↗
- FINRA: SIE and Exam Restructuring FAQ ↗
- NASAA: Exam FAQs ↗
Rules and fees can change, so check the official site before your test.