What is a FINRA Series 57 license?
What Is Series 57? Series 57, also known as the Securities Trader Representative Exam, is an examination administered by the Financial Industry Regulatory Authority (FINRA). Passing the Series 57 exam is a requirement for those who wish to become professional traders of either equities or convertible debt securities.
How do I get my Series 57 license?
Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 57 exam to obtain the Securities Trader Representative registration. For more information about the SIE and Series 57 exams, refer to FINRA Rule 1210 and FINRA Rule 1220.
How hard is the Series 57 exam?
How To Study For The Series 57 Exam. The minimum grade to pass the Series 57 exam is 70 percent. It is an extremely difficult exam that few people pass on their first attempt. As it is fairly new, there isn’t as much information or material as its predecessors, however, there is more than enough to get you by.
What does the Series 57 allow you to do?
A Series 57 license allows brokers to trade equities and convertible debt securities in the U.S. To obtain one, you must pass the Series 57 exam. This test covers topics like equity trading concepts and regulations around the financial services industry.
How much does it cost to take the Series 57 exam?
$60 US. Note that this is the examination enrollment fee ONLY – other fees may also apply.
What is the pass rate for the Series 57?
94% of candidates who pass our Series 57 benchmark exam on the first try pass the actual exam. 86% of candidates who average between 65% – 70% on their first 500 Series 57 practice questions pass the actual exam on the first try.
Can I take the series 57 online?
On February 24, FINRA added the Series 24, the Series 57, the Series 79 and the Series 99 to the list of exams that are available for online delivery.
How long should I study for the Series 57?
40 to 50 hours
SERIES 57 AT A GLANCE The recommended study time is 40 to 50 hours. Below you will find the allocation of exam items for each major job function on the exam. The exam includes 55 questions, of which 50 are graded and five are ungraded. The Series 57 exam’s focus is conceptual.
How long does it take to study for Series 57?
50 hours
What is the usual study time for the Series 57? Assuming you are working full time while preparing for the examination, you should allow yourself 50 hours or three to five weeks to read through the material and complete practice exams.
How long is Series 57 Good For?
It only expires if you are terminated or leave a firm and do not find employment within two years at another FINRA-member firm or SRO. You do have to maintain it with continuing education, however. FINRA explains this in an article about firm and regulatory requirements.
Do I need a sponsor for Series 57?
Effective October 1, 2018, candidates must pass the Securities Industry Essentials (SIE) Examination and a revised Series 57 Top Off exam to obtain the Series 57. Students must be associated with and sponsored by a FINRA member firm to be eligible to take the Series 57 exam.
What is a Series 57 top off?
So just what is the Series 57 top-off? Together with the SIE, the Series 57 helps assess the competency of entry-level Securities Traders. It is also a requirement of individuals that are designated as Securities Trader Principals.
What is a series 57 license and do you need one?
A Series 57 license allows brokers to trade equities and convertible debt securities in the U.S. To obtain one, you must pass the Series 57 exam. This test covers topics like equitytrading concepts and regulations around the financial services industry. It’s administered by the Financial Industry Regulatory Authority (FINRA).
When did FINRA revise the series 55 examination program?
FINRA Revises the Series 55 Examination Program Fri, 06/28/2013 – 12:00 Information Notice – 6/5/13 FINRA Surveys to Update the Series 4, 9 and 10 Qualification Examinations Wed, 06/05/2013 – 12:00 Information Notice – 8/1/12
What is the passing score for the series 57 exam?
Here are the basics for the Series 57 Exam: Questions: 50 Duration: 105 minutes Passing Score: 70%
How much is the series 66 exam at FINRA?
Series 66 – Uniform Combined State Law Exam 2 hours and 30 minutes 100 $177 FINRA Rules 1210. Registration Requirements FINRA Rules 1220. Registration Categories FINRA Rules 1230. Associated Persons Exempt from Registration Regulatory Notice 20-42 FINRA Seeks Comment on Lessons From the COVID-19 Pandemic Wed, 12/16/2020 – 12:00