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WHICH TEST SHOULD I TAKE?
Series 3 - National Commodity Futures Examination
The Series 3 license allows you to trade commodity and financial futures as well as options on futures. Topics covered include: rules and regulations, orders hedging, margin, stock index futures and options on commodity futures.
Series 4 - Registered Options Principal Examination
The Series 4 license is required for those supervising options activities. Topics covered include: interest rate options and options prices, the Federal Reserve, tax considerations, margin requirements and sales practice rules.
Series 6 - Investment Company and Variable Contracts Representative
The Series 6 license allows you to sell investment company products (mutual funds, primary offerings of closed end investment companies and variable contracts. Topics include: securities markets, investment risks and policies, investment companies, taxation, customer accounts, variable contracts and retirement plans, and securities industry regulations.
Prerequisite: None
Number of questions 100
Time allowed 2 hours 15 minutes
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Series 7 - General Securities Representative Examination
The Series 7 license allows you to sell all securities for a registered broker-dealer. Topics include: Stocks, bonds, mutual funds, options, municipal bonds, investment companies, direct participation programs, solicitation, purchase and sale of securities, investment banking, securities analysis, margin and self-regulatory organizations.
Series 9 - Branch Office Manager Examination - options
The Series 9 license is for persons who are required to be registered as principals and whose responsibilities are limited to sales supervision as branch office managers in member firms. This course covers regulation of options.
Prerequisite: Series 7 Number of questions 55 Time allowed 1 ½ hours Purchase Materials
Series 10 - Branch Office Manager Examination - General Securities
The Series 10 license is for persons who are required to be registered as principals and whose responsibilities are limited to sales supervision as branch office managers in member firms. Topics include: sales and account supervision, municipal securities regulation, compliance and record keeping.
Series 22 - Direct Participation Programs Representative Exam
The Series 22 license is required for those selling only direct participation programs (limited partnerships). Topics include: The structure and marketing of DPP investments, tax treatment of the partnership, assets and individual partners and analysis of DPP’s.
Prerequisite: none Number of questions 100 Time allowed 2 hours and 15 minutes Purchase Materials
Series 24 - General Securities Principal Examination
The Series 24 license is required for those supervising the general securities activity of a FINRA member firm. The course covers: supervision of investment banking activities, market-making activities, brokerage office operations, regulatory framework of FINRA, compliance with financial responsibility rules, investment companies and retirement plans.
Prerequisite; Series 7 or Series 62 Number of questions 150 Time allowed 3 1/2 hours Purchase Materials
Series 26 - Investment Company Products/ Variable Products Principal Examination
The Series 26 license is required for those persons supervising solicitation and sales of investment company products including mutual funds, variable annuity and life contracts, and retirement plans. Subjects include: regulation of investment companies, sales supervision of employees, regulatory framework of FINRA, compliance and record-keeping rules.
Prerequisite: Series 6 or Series 7 Number of questions 110 Time allowed 2 1/2 hours Purchase Materials
Series 27 - Financial and Operations Principal Examination
The Series 27 license is required for those who supervise the financial and operations activities of a FINRA member firm. Topics include: net capital requirements, customer protection, rules and record-keeping requirements, MSRB regulations, and broker-dealer financial reporting.
Prerequisite: None Exam consists of 145 multiple choice questions. Time allowed 3 ½ hours. Purchase Materials
Series 31 - Futures Managed Funds Examination
The Series 31 licesne is required for representatives who solicit interest in commodity pools. Topics include: futures and forward contracts, trailing commissions, margin, hedging, and regulations relating to CTAs, CPOs and customer accounts.
Series 52 - Municipal Securities Representative Examination
The Series 52 license allows one to sell municipal bonds, U. S. government securities and agencies. Topics include: municipal securities, municipal markets, U. S. Government and agency securities, other financial instruments, federal legal considerations and the behavior of interest rates.
Series 53 - Municipal Securities Principal Examination
The Series 53 license is required for those supervising selling activity and underwriting of municipal bonds. Topics include: general supervision, sales supervision, origination and syndication, operations and trading.
Prerequisite: Series 52 or Series 7 Number of questions 100 Time allowed 3 hours Purchase Materials
The Series 55 license is required for those trading equity securities. Topics include: the NASDAQ market, market-making activities, automated execution and trading systems, trade reporting requirements and securities industry regulations.
Prerequisite: Series 7 or series 62 Number of questions 100 Time allowed 3 hours Purchase Materials
Series 62 - Corporate Securities Limited Representative Examination
The Series 62 license is required for those selling only stocks and corporate bonds. Topics include: characteristics of corporate securities, registration, margin, fraudulent and other prohibited practices, and licensing of broker-dealers, agents and investment advisers.
Series 63 - Uniform Securities Agent State Law Examination
The Series 63 license is required by the states to sell securities and covers the Uniform Securities Act. Topics include: registration requirements for broker-dealers, agents and investment advisors, fraudulent practices and regulatory oversight.
Series 65 - Uniform Investment Adviser Law Examination
The Series 65 license is required for individuals who must satisfy state investment adviser requirements. Topics include: Federal Securities acts, the Uniform Securities Act, investment analysis, securities markets, investment vehicles and unethical practices of investment advisers.
Series 66 - Uniform Combined State Law Examination
The Series 66 license combines the Series 63 and Series 65 exams. Some states require candidates to take just one test to qualify them as agents of a broker-dealer and investment adviser.
For more information on FINRA qualification examinations, see http://www.finra.org/Industry/Compliance/Registration/index.htm. | 