FINRA Releases Specialized Knowledge Exam Outlines

FINRA released its revised representative level qualification exam outlines, which have been referred to as Specialized Knowledge Exams (SKEs) or Top-Off Exams under FINRA’s new testing procedures. As of October 1, 2018, FINRA will require new registrants to take a Securities Industry Essentials (SIE) exam followed by an appropriate SKE. While anyone 18 and older can take the SIE exam without firm sponsorship, one must be sponsored by a FINRA member firm to sit for any of the SKEs and become registered.

The new testing structure eliminates duplicative testing of general securities knowledge. The SIE, or Essentials, exam will focus on industry basics that remain relatively static over time, including:

  • Product basics
  • Structure and function of the securities industry
  • Regulatory agencies and their functions
  • Regulated and prohibited practices

SKEs will continue to be referred to by their current names (e.g., Series 6, Series 7) but will test more specific knowledge relevant to the day-to-day activities, responsibilities, and job functions of representatives.

FIRE Solutions is working diligently to bring you industry leading materials to prepare for these exams. Please visit here for links to the SIE exam and SKE outlines. You will also find exam updates and the FIRE Solutions resources to prepare you for your exam.