The hardest SIE exam questions, according to real data

Across 11,566 real answers, candidates miss 24.6% of questions overall. But the misses are not evenly spread — the topics below are where scores actually go to die.

The hardest SIE topics, ranked by real miss rate

The 15 most-missed SIE questions right now

Each links to the full question with the answer and explanation — free, no signup. Minimum 10 real attempts to qualify.

1. 1. A broker-dealer is required to maintain books and records, submit financial reports, and register with the SEC. Which…

   90% missed
   Capital Markets & Offerings · 10 attempts
2. 2. Under the Bank Secrecy Act, broker-dealers must file a Suspicious Activity Report (SAR) when they detect transactions…

   80% missed
   Anti-Money Laundering & Reporting · 15 attempts
3. 3. During a period of rising inflation, which asset class historically provides the BEST protection?

   80% missed
   Economic Indicators · 10 attempts
4. 4. A company has $100 million in assets, $40 million in liabilities, and 10 million common shares outstanding. Preferred…

   80% missed
   Equity Securities · 10 attempts
5. 5. Which of the following is a government-sponsored enterprise, and its securities are NOT fully backed by the U.S.…

   76.9% missed
   Debt Securities · 13 attempts
6. 6. Which party is primarily involved when ETFs are created or redeemed in large blocks known as 'creation units'?

   75% missed
   Investment Companies & Packaged Products · 12 attempts
7. 7. Which security pays interest semiannually and matures in 2–10 years?

   72.7% missed
   Debt Securities · 22 attempts
8. 8. A registered representative receives a complaint from FINRA's Department of Enforcement. How many days does the…

   72.7% missed
   Regulatory Framework · 11 attempts
9. 9. Which of the following is a LAGGING economic indicator?

   70% missed
   Economic Indicators · 20 attempts
10. 10. An investor writes (sells) 1 XYZ Dec 70 put at $5. What is the investor's maximum potential loss?

    70% missed
    Options · 10 attempts
11. 11. A put feature in a bond will tend to:

    70% missed
    Debt Securities · 10 attempts
12. 12. ABC Corp. has 250,000 common shares at $80/share and 50,000 preferred shares at $100/share. What is ABC's total equity…

    70% missed
    Equity Securities · 10 attempts
13. 13. Which risk is most likely to erode the real value of fixed income payments from a long-term bond?

    70% missed
    Economic Indicators · 10 attempts
14. 14. If a municipal securities dealer violates an MSRB rule, who has enforcement authority?

    69.2% missed
    Regulatory Framework · 13 attempts
15. 15. An investor writes a put option. If exercised, their obligation is to:

    69.2% missed
    Options · 13 attempts

Turn this list into a study plan

Reading the hardest questions is diagnosis, not treatment. Drill your own weak areas — the app tracks which topics you personally miss and rebuilds your quiz mix around them.

Computed from anonymous, aggregate practice-answer records on Lucky the Banker joined to the public SIE question bank. Answers are counted per question; no names, emails, or per-user data are used or exposed. Questions need at least 10 real attempts to be ranked individually and topics need at least 30 attempts. The report refreshes daily. Full tables, per-topic attempt counts, and a JSON download live in the SIE difficulty report. Official exam format facts come from the FINRA SIE exam page.