Didn’t pass SIE exam

Hey, so I have no finance background. Thought I could just read the book and videos and that I would pass Bc I know the content. Well that ended up not being the case. I almost got a 70 but didn't (right below, like a 65-67 range). 
 

I went over the STC material and did the finra practice test and another. What would you recommend me to do?? I also have to study for series 7 and 63 which are harder. I've not slept much Bc of the stress so I know that my life being all over the place Bc of external reasons has been a factor too. And just the pressure of these exams.
 

I have 30 days to retake this SIE exam

Comments (22)

5mo 
Tvixorbust, what's your opinion? Comment below:

if you fail, they tell you the %

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
5mo 
financeabc, what's your opinion? Comment below:
rickle

Don't waste time re - reading the book. Just drill and drill and drill. Take tons of practice tests AND review the answers (both the wrong and right ones) and basically memorize them. Many of the exact questions are on the test. It's not about really knowing the stuff, it's about passing.

You might want to know that the prep providers no longer write the questions that are on exams.  Memorizing questions and answers might have worked 25 years ago but it is not a good strategy today. 

5mo 
barefootstriders, what's your opinion? Comment below:

I disagree. Took the exam last year with no finance background. I felt the STC practice tests were the most helpful thing to study with followed by the videos. The book is an inefficient way of studying and is the last option I'd go to.

5mo 
MrPermaBear, what's your opinion? Comment below:

Go through as many qbank questions as you can. See which areas you struggle in, maybe watch a quick review video, then hit the qbank again

5mo 
justin_achievable, what's your opinion? Comment below:

Sorry to hear that, but it is pretty common! The overall first-time pass rate for the SIE is something like 70%. You're really close and you'll pass on your next take.

Check out the test prep WSO recommends - Achievable SIE exam prep.

We wrote it specifically for people new to finance and our materials have a reputation for being a lot easier to understand.

PM me and I'm happy to give you a discount code~

Founder of https://achievable.me - modern test prep for the FINRA SIE, S7, and GRE.

  • 1
5mo 
jorbanana56, what's your opinion? Comment below:

Hey sure I want to try it out 

5mo 
Compass.8, what's your opinion? Comment below:

There are overlaps in material between the sie and series 63/7. So you won't have to start from scratch when you begin studying for the other exams. 

5mo 
BigKahunaBanker🏄🍹🍔, what's your opinion? Comment below:

Jorbie, wtf are you doing? Shouldn't you be searching for a nice, Catholic husband?

...and the Truth shall set you free
  • 1
5mo 
jorbanana56, what's your opinion? Comment below:

I know right? Idk why!! Get me out of here!! Help me find a husband!! A catholic guy broke up with me from Oxford and I got upset! 

5mo 
guyfromct, what's your opinion? Comment below:

It's not common, all of our new analysts and associates passed it on the first try. At a proper form we had one fail the 63, but they were the worst analyst I've ever worked with. That said, it happens and OP needs to study harder, starting by reading the book, then watching the lectures and finally doing all of the questions striving to understand what they got wrong and why.

5mo 
Whatever1984, what's your opinion? Comment below:

I mean, I'm also interested.  I never took it b/c I was grandfathered in, but it's what they made the MARKETING people take when it started, and I don't think a single one of them failed.

Is it stupid memorization like the 7/63/65? (Have/had all of those)

I don't have advice, but I took a really odd path and had my charter before I first sat for the 7/63.  I found everything except the stupid laws sections boring/useless and easy.  I knocked both out in two weeks.  I had also actually done financial planning for years before getting my CFP. (they gave us three days.  I went on a four day bender with a long weekend then took it in two hours[hardest part was the mandatory hour lunch break] and was back before the lunch specials ended at my local bar.)

Study and suck it up.  I know a guy who spent six years getting his CFA charter.  He's just as respected as the guy who spent 18 months and threw in a CAIA for good measure.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
  • 4
5mo 
i.can.make.it, what's your opinion? Comment below:

i have taken all three and I don't know about you but the exams are basically hit or miss and have no reflection on the persons intellect. You basically have to memorize almost a thousand questions to give yourself a fair shot and is not reflective of the type of work we'll be doing. You don't need to know retirement accounts or the settlement dates for 13F offerings to be a banker. 

The answer choices are so vague and ambiguous its basically feels like a guessing game. Like asking cardiology students after months of hard work and studying the heart:

"What do we breathe in"

A. Air

B. Oxygen 

C. Nitrogen

D. A mixture of gases 

The finra exams make you study specific topics only to ask questions that can only be described at ancillary to the study material at best. Which is why everyone is saying reading the textbook is a waste of time.

  • 1
5mo 
jorbanana56, what's your opinion? Comment below:

Omnis ipsum consequatur magnam quisquam asperiores corporis soluta. Dolor voluptatum eligendi reprehenderit veniam eum officia ullam et. Eius ut incidunt quasi dolores consequatur voluptas. Perferendis ratione voluptates qui eius.

Reiciendis aut molestiae voluptates iste officiis distinctio. At rerum blanditiis commodi perspiciatis.

5mo 
jorbanana56, what's your opinion? Comment below:

Iste error quod perspiciatis iure reprehenderit mollitia reiciendis. Nisi suscipit quisquam molestiae ipsam. Culpa iusto qui et necessitatibus. Ad fugit quis ipsa nihil. Beatae natus doloremque exercitationem et similique ad. Deserunt tempore distinctio porro.

Cum illo est nisi esse commodi. Tempore reprehenderit officiis consequatur praesentium et officia quo dolores.

Start Discussion

Career Advancement Opportunities

February 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Jefferies & Company (▽01) 99.1%
  • Lincoln International (▽01) 98.6%
  • Financial Technology Partners (▽01) 98.1%
  • William Blair (▲08) 97.7%

Overall Employee Satisfaction

February 2023 Investment Banking

  • Canaccord Genuity (▲04) 99.5%
  • William Blair (▲04) 99.1%
  • Lincoln International (▲09) 98.6%
  • Jefferies & Company (▲06) 98.1%
  • Financial Technology Partners (▲09) 97.6%

Professional Growth Opportunities

February 2023 Investment Banking

  • Lazard Freres (▲15) 99.5%
  • Financial Technology Partners (▲09) 99.1%
  • Lincoln International (= =) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲01) 97.7%

Total Avg Compensation

February 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (25) $422
  • Associates (137) $262
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (80) $172
  • 1st Year Analyst (258) $171
  • Intern/Summer Associate (42) $166
  • Intern/Summer Analyst (186) $91