Corrections and Rule Updates
This page lists the corrections we have made to our SIE practice questions and the rule changes we are tracking that affect them. It also explains how to report a question you think is wrong and what we do with your report. How questions are written and checked in the first place is on Our Question Methodology.
1. How to report a question
Email [email protected] with:
- the first few words of the question, or the whole question
- the test it was in (full practice exam, quick set, topic quiz or the printable PDF) and roughly when you took it
- what you think is wrong: the answer, a wrong choice that is also correct, the explanation, the source or a date
- your source, if you have one, such as a FINRA rule, an SEC or Investor.gov page or an MSRB rule
You do not need an account to report a question. Please do not send screenshots of the real SIE or describe real exam questions. Candidates agree to FINRA's rules of conduct, which do not allow sharing exam content, and we cannot use it.
2. What happens to a report
- We read the question, its explanation and the full source passage it cites.
- We check the current version of the source, and any newer rule or notice that may have replaced it.
- If the question is wrong, unclear or out of date, we fix it or take it out of the bank. If it is correct, we reply with the passage that supports the answer.
- Every correction that changes an answer, an explanation or a source is listed below with its date.
We reply by email to the address you wrote from.
3. What counts as a correction
We list a change here when it alters what a question teaches:
- a changed correct answer
- a question removed from the bank
- an explanation or source that was wrong or out of date
- a change made because a rule or regulator page changed
Small edits that do not change meaning, such as fixing a typo or tidying wording, are not listed one by one.
4. Correction log
November 8, 2026: Correction pass before launch
Before the question bank went live we corrected questions that reviewers or later source checks had flagged. In no question did the position of the correct answer change. These edits were made with the same AI tools used to write the bank and have not yet had a separate second review.
- Pump-and-dump question (trading). Replaced a wrong answer about low share prices. A FINRA investor insight on ramp-and-dump schemes describes fraudsters buying up much of a stock's public float, which made that choice partly true.
- Two non-traded REIT questions (products). The upfront fee figure came from a 2011 SEC alert (9 to 10 percent). Both questions now use the later Investor.gov bulletin on non-traded REITs, which says fees can be up to 15 percent of the offering price. In the question that asks you to calculate the amount invested, the correct answer changed with the new figure.
- MSRB Rule G-20 gift question (regulation). Rewritten so it no longer depends on the older $100 gift limit, which municipal advisors can follow only until December 1, 2026. It now tests whether the rule's general gift limit applies to municipal advisors, using the rule's definition of a regulated entity from MSRB Rule G-20. Its difficulty changed from hard to medium.
- Listed options explanation (products). The explanation described listed options as contracts between investors. It now says they are issued by The Options Clearing Corporation, as the Options Industry Council states.
- Wording cues (50 questions). In each, one choice was worded differently from the other three, for example the only "No" among three answers starting "Yes", or the only choice not starting with "Only". The choices were reworded so their form gives no hint. The correct answers mean the same as before.
- Two-part answers (13 questions). In questions whose choices combine two parts, such as a cost basis and a gain, the correct answer was the only choice made of the two most common parts. The wrong answers were rebuilt so no combination stands out.
- Difficulty labels (3 questions). Changed from hard to medium, as reviewers suggested.
- Explanation wording (17 questions). Explanations that used the testing term "distractor" now say "wrong answer".
5. Rule changes we are tracking
These rule changes affect questions in the bank. Some took effect earlier in 2026 and are already reflected in the questions. The others take effect later, and until they do, questions use the rule in force today.
| Date | Change | How our questions handle it | Source |
|---|---|---|---|
| March 30, 2026 | FINRA gift limit: the limit on business gifts rose from $100 to $300 per person per year. | Questions use the $300 limit. | FINRA Regulatory Notice 26-05 |
| December 1, 2026 | MSRB Rule G-20 (gifts and gratuities): municipal advisors and bank dealers move from the older treatment to the current version, which FINRA member dealers have followed since June 1, 2026. | The G-20 question was rewritten on November 8, 2026 so that its answer holds before and after December 1, 2026. | MSRB Rule G-20 |
| January 19, 2027 | FINRA Rule 1210 retake waits: 15 calendar days after a first or second failed attempt (now 30), and 60 days after a third or later failed attempt within two years (now 180). | Questions and guides use the current 30-day and 180-day waits until the new waits take effect. | FINRA Regulatory Notice 26-18 |
| October 20, 2027 | FINRA intraday margin standards: the permitted phase-in period for firms ends. | Margin questions do not assume that every firm finished moving to the new standards on the first effective date. | FINRA Regulatory Notice 26-10 |
| October 25, 2027 | FINRA Rule 3290 (outside activities) replaces Rules 3270 (outside business activities) and 3280 (private securities transactions). | Questions use Rules 3270 and 3280 until Rule 3290 takes effect. | FINRA Regulatory Notice 26-20 |
When one of these dates passes, we check the affected questions against the rule text and record any change in the correction log above.
6. Exam facts
Exam details such as the number of questions, the time allowed, the fee and retake waits are set by FINRA and can change. The SIE exam guide gives the current figures with links to FINRA. Check FINRA's SIE exam page before you schedule.