Category Archives: Financial Exam Study Guides

NCFE Series 3 Study Guide review

What is the Series 3 Exam?

The Series 3 exam, administered by FINRA (Financial Industry Regulatory Authority) also called the National Commodities Futures Exam (NCFE) is required by the National Futures Association (NFA) for people who intend to become members.

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Series 24 Exam Study Guide

Who is the Series 24 Exam For?

Also known as the General Securities Principal exam (GP exam), the Series 24 exam is administered by the Financial Industry Regulatory Authority (FINRA) and has been since it’s inception in 1979.

The Series 24 is a required qualification that allows registered professionals to be able to manage or supervise a FINRA members branch activities including variable contracts, real estate investment trusts, venture capital, and corporate securities. Continue reading

Series 7 Study Guide

What Is The Series 7 Exam

The Series 7 exam, also known as the General Securities Representative Exam (GSR exam), is a prerequisite for anyone who wants to be a licensed stockbroker able to trade in the United States.

Originally the exam was owned and maintained by the New York Stock Exchange Regulations and delivered by the National Association of Securities Dealers (NASD) from its creation in 1974. Now it is administered by FINRA (Financial Industry Regulatory Authority).

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FINRA Study Guide

The FINRA Administered Qualification Examination offered by the Financial Industry Regulatory Authority (FINRA) features a number of investment related exams across a broad series of tests. The tests can be taken by select firms who have employees to file the U-4 form or by individuals who file the U-10 form. Continue reading

Series 87 Study Guide

The Research Analyst Examination (Series 87 Exam) offered by the Financial Industry Regulatory Authority (FINRA) grants successful test takers as qualified research analysts. Series 87 is a continuation of Series 86 exam. The exam focuses on the regulations and ethics behind research analysis. Continue reading

Series 9/10 Study Guide

The Series 9/10 exams are managed by the Financial Industry Regulatory Authority (FINRA). This was delegated to them by the National Association of Securities Dealers (NASD). Once you have passed both Series 9 and 10, you will become a qualified General Securities Sales Supervisor. You will be allowed to serve as a principal who supervises sales transactions for general securities firms.

To be eligible to take the exams, you must first obtain a Series 7 license. The exam fees are $60 for Series 9 and $100 for Series 10. You can visit the website of FINRA for the exam schedule, locations, registration process, and details about exam fees. Continue reading

Series 66 Study Guide

The North American Securities Administrators Association (NASAA) administers the Series 66 exam, also known as the Uniform Combined State Law examination. Passing this test is equivalent to having completed the Series 63 and Series 65 exams. This is a requirement for an investment professional to be a registered Investment Advisor Representative.

An examinee is required to successfully complete the Series 7 exam first before taking the Series 66 exam. Once you are through with the first step, you may visit the website of the Financial Industry Regulatory Authority (FINRA) for further details. You can choose an exam date, which may be done any day except on Sundays, and locate the examination center nearest you. As of August 2007, the examination enrollment fee is $113.

The Series 66 exam is composed of 110 multiple-choice questions that can be taken within 2 hours and 30 minutes. Of these, 10 questions are experimental and will not count on your final score. The passing mark is 71%. (Weird huh – why didn’t they just make it 70%?) Continue reading

Series 65 Study Guide

The Series 65 exam or the Uniform Investment Adviser Law (UIAL exam) examination is administered by the Financial Industry Regulatory Authority (FINRA). Passing this test will give an investment professional license to work as an Investment Advisor Representative in some states.

You can visit FINRA’s website regarding the exam dates and locations. But if you are not affiliated with any National Association of Securities Dealers (NASD) firm, you must complete a Form U10 to book a slot on a certain exam date. This form can be downloaded as a PDF file at FINRA’s website. File this form and pay the enrollment fee of $120.

The examination can be taken on all days except on Sundays at any Pearson or Prometric test centers. Individuals do not have to be employed or sponsored by a member firm in order to be eligible. Continue reading

Series 62 Study Guide

More known as the Corporate Securities Limited Representative exam (the CSLR exam), the Series 62 exam is administered by the Financial Industry Regulatory Authority (FINRA). FINRA is a non-profit private organization that mandates all the firms and people involved in the industry of securities trading in America.

The Series 62 exam is considered an investment by professionals, especially those working for Wall Street, because this will give them more options in terms of career path development and general advancement opportunities.

Once you have passed the Series 62 exam, you will be qualified to do the following:
• Trade Real Estate Investment Trusts (REITs)
• Trade different kinds of debt securities
• Credit backed securities from companies that belong to the private sector, corporate paper and money market funds Continue reading

Series 30 Study Guide

Formally known as the Branch Managers Examination – Futures, the Series 30 exam must be passed by people who want to obtain a license to perform tasks as a Branch Manager, in-charge of managing futures-related duties in a firm. This rule is set by the National Futures Association (NFA).

The examinees for the Series 30 exam are not required to be sponsored in order to take the test. However, they must acquire sponsors once they pass in order to get their license.

The following must be accomplished before you can take the exam:
* You must submit Form U10 and the mandatory fee to the Financial Industry Regulatory Authority (FINRA).
* After FINRA has processed your papers, you have 120 days to choose an examination date.
* You can take the exam at any Prometric test center located nationwide. Continue reading

Property and Casualty Insurance Exam Study Guide

The Property and Casualty Insurance Exam is given to anyone who wants to obtain a license as an insurance agent. There are many types of exams given in the field of insurance, depending on what exactly you intend to sell.

In this case, the exam must be taken by agents who want to sell products that will protect individuals and businesses from factors that may lead to financial losses. These factors include car accidents, fire incidents, and compensation and benefits of workers and employees. Continue reading

CFP Study Guide

The Certified Financial Planner Board of Standards, Inc. administers the Certified Financial Planner (CFP) examination every third Friday and Saturday of the months of March, July, and November. This exam aims to measure the expertise of financial planners in the financial planning field, and is a step that will bring them closer to being able to use the CFP certification mark.

The exam covers about 100 pertinent topics relevant to the field. There are 285 multiple-choice questions that are to be answered in 2 days:
* First Day (4 hours)
* Second day (2 sessions, 3 hours each) Continue reading

CBM and CABM Study Guide Review

The CBM and CABM Exams are offered by the Association of Professionals in Business Management (APBM) and they grant certification as Certified Business Manager (CBM) or Certified Associate Business Manager (CABM).

Applicants who wish to take the CBM must meet the following eligibility requirements:

* Have an undergraduate degree in addition to four years of full time employment in business field.
* Must have the CABM certification or an MBA with eight years of full time work experience. Continue reading

Series 6 Study Guide review

The Series 6 exam is administered by the Financial Industry Regulatory Authority (FINRA). This was formerly delegated to the National Association of Securities Dealers (NASD).

The Series 6 exam will prove a finance professional’s competence in all areas of variable annuities and mutual funds. Once you pass the exam, you will be allowed to sell mutual funds and variable annuities. Continue reading

CFP Study Guide

CFP Study Guide

The Certified Financial Planner Board of Standards, Inc. administers the Certified Financial Planner (CFP) examination every third Friday and Saturday of the months of March, July, and November. This exam aims to measure the expertise of financial planners in the financial planning field, and is a step that will bring them closer to being able to use the CFP certification mark.

The exam covers about 100 pertinent topics relevant to the field. There are 285 multiple-choice questions that are to be answered in 2 days:
* First Day (4 hours)
* Second day (2 sessions, 3 hours each) Continue reading