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.
FINRA offers exams to qualify individuals in a number of financial and investment related positions. The following are the types of exams offered by the FINRA. This is not a complete list.
* Series 3: national Commodity Futures (CR)
* Series 6: Investment Company Products/Variable Contracts Representative (IR)
* Series 11: Assistant Representative-Orders Processing (AR)
* Series 30: Branch Managers Examination – Futures
* Series 53: Municipal Securities Principal (MP)
* Series 87: Research Analyst (RS) Part II Regulations Module
The FINRA exams are often referred to by their series number, like the Series 7 exam that offers applicants the chance to become General Securities Registered Representatives. Some of the series tests require a prerequisite series exam to be taken before becoming eligible to take certain ones. The tests typically cost between $70 and $300.
The FINRA tests are administered at computer-based testing centers found throughout the US. The majority of the exams take up to four hours to complete, with some taking as long as a few days. The exams can be very difficult and have a high threshold for a passing score.
Each of the exams key in on the topic’s investment needs, client approach, overall investment knowledge, and of course regulations and laws.
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