Topics in the exam include industry regulatory agencies, operation of primary and secondary trading markets, supervision of sales and customer accounts, and financial responsibilities for FINRA and NYSE-member firms.

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Candidates must be registered with a FINRA member firm or a self-regulatory organization to take this test. The Series 86 exam is a required test for those who want to work as a research analyst for brokers and dealers. It also focuses on packaged securities, retirement plans, and interactions with clients. It evaluates their competency in performing tasks that includes supervising sales and trade activities. Need Help? The Series 79 exam measures the candidate’s knowledge to perform the job of an investment banking representative, including skills on advising on or facilitating debt or equity securities offerings, and mergers and acquisitions. They must also have passed the SIE and Series 7 exams. The Series 7 is an exam that assesses the ability of a candidate to perform their primary job as a general securities representative, which includes sales of corporate securities, investment company securities, municipal securities, variable annuities, options, direct participation programs, and government securities.. The Series 3 exam does not have a corequisite exam, but candidates must be associated with a FINRA member firm. (source). The outline is comprised of the four major job functions of a general securities representative.

Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 7 exam to obtain the General Securities Representative registration. Download Series 7 Content Outline The Series 7 exam consists of 125 multiple-choice questions, and each question has four answer choices. 1. If you want to be qualified to structure municipal securities underwritings or perform activities involving municipal securities that are beyond the scope of selling municipal securities to and purchasing municipal securities from customers, you will have to take and pass the Municipal Securities Representative (Series 52) Exam. The SIE exam is a corequisite and must be taken before or after taking the Series 52 exam. The Series 6 is an exam that assesses the ability of a candidate to perform their job as an investment company and variable contracts products representative. To take the exam, candidates must have taken and passed the Series 50. Thinking of getting a job in the finance industry? If you’re in need of test prep for the Securities Industry Essentials (SIE) or Series 7, take a look at our modern, online courses.

The exam consists of questions on regulatory guidelines, corporate securities, trading, real estate investment trusts, and customer accounts. Therefore, the exam is still no walk in the park. Topics in this exam include underwriting, trading, and selling of municipal fund securities, maintenance of records, handling customers, and training principals. If you obtained a General Securities Representative (Series 7) registration on or after November 7, 2011, you will have to pass the Municipal Securities Representative (Series 52) Exam as a corequisite to taking the Series 53 exam. Before taking the Series 4 exam, a candidate must have a Series 7 license, and must also be associated with and sponsored by a FINRA member company or a self-regulatory organization. To be eligible to take the exam, candidates must be associated with and sponsored by a FINRA member firm or self-regulatory organization. Every Achievable course includes an easy-to-read online textbook with real-world examples, thousands of review quizzes, and plenty of full-length practice exams. Series 51 exam takers must have passed the general securities principal (Series 24) or investment company/variable contracts limited principal (Series 26) exams. (source). The Series 34 is an exam that licenses individuals who seek to engage in off-exchange forex transactions with retail customers. Proper preparation is the key. The Series 54 exam evaluates the competency of individuals that will be directly engaged in the management, direction or supervision of the municipal advisory activities of a municipal advisor firm and its associated persons. FINRA may grant an exemption on Part 2 of the exam provided the applicant has passed Level I of the CFA exam via a verified CFA Institute ID. FINRA IS A REGISTERED TRADEMARK OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FINRA operates the largest securities dispute resolution forum in the United States, Report a concern about FINRA at 888-700-0028. There is no prerequisite to taking the exam, but the SIE and Series 7 are corequisites. The table below lists the allocation of exam items for each major job function. Exam takers must also be associated and sponsored by a FINRA member company or a Self-Regulatory Organization. At the FINRA 2019 annual conference, it was announced that from October 1, 2018 to March 31, 2019, 10,542 individuals sat for the exam, and the Series 7 pass rate for that period was 71 percent. The Series 30 exam does not have a corequisite exam, but candidates must be associated with a FINRA member firm. The candidate must also be associated with and sponsored by a FINRA member company or a self-regulatory organization. If you obtained a General Securities Representative (Series 7) registration prior to November 7, 2011, you will be able to trade municipal securities, structure municipal securities underwritings and perform certain other activities involving municipal securities. It requires a significant investment of time to be successful. The topics include investment risk, taxation, equity and debt instruments, packaged securities, options, retirement plans, and interactions with clients. The candidate must also be associated with and sponsored by a FINRA member company or a self-regulatory organization. At the FINRA 2019 annual conference, it was announced that from October 1, 2018 to March 31, 2019, 10,542 individuals sat for the exam, and the Series 7 pass rate for that period was 71 percent.


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