FINRA Series 79 Exam | Frequently Asked Questions (2024)

FAQs

How many questions can you miss on the series 79? ›

The passing score for the Series 79 exam is a 73%.

Depending on the amount of investment banking training you've gone through, expect to spend anywhere from 60 to 100 hours preparing for the Series 79 exam.

Candidates who do not pass the exam must wait 30 days before taking it again. However, if you fail it three times in succession, you must wait 180 days. Your firm will also have to sponsor you again for each retake, and you will have to pay the full fee each time.

The Series 79 exam is more difficult than the Securities Industry Essentials exam. The SIE exam is commonly considered an introductory exam while the Series 79 involves concepts that may be more complex required by those who need a higher degree of skills in the investment banking industry.

You will have 3 hours and 45 minutes to complete the exam and must correctly answer 72% (90 questions) of the 125 scorable questions to pass. The Series 7 exam, like other FINRA exams, is presented in a bell curve.

The Series 7 exam is often considered the most difficult securities licensing exam. But, the answer is up to you.

Questions on the Series 79 exam do require you to use arithmetic, ratios, and basic algebra. Also, because the Series 79 exam requires you to understand and be able to analyze financial statements, a basic understanding of financial accounting is very helpful.

Candidates must pass both the Series 79 exam and the SIE exam to obtain the Investment Banking registration.

The Series 7 covers a broader range of topics, while the Series 79 focuses on investment banking products and regulations. However, Series 79 is considered harder because examinees are required to apply analytical reasoning and mathematical concepts.

What is the best way to study for the Series 79? ›

Attend a live class or watch the on-demand lectures that cover all the material. Study your digital Series 79 flashcards in Brainscape's online or mobile app. Complete at least 1,000 online practice questions. Begin with shorter exams of 30-50 questions to drill and practice on a single topic or smaller set of topics.

Series 63 Study Time and Method

Studied approx 30 hrs for 79, hit 80%, studied approx 8 hours for 63, and got like a 79%. 63 is much more memorization, and the ethical questions really are that easy on the test.

Although most people pass the Series 79, it's much more likely that you'll pass the SIE Exam than the Series 79 - the SIE Exam difficulty level is lower than the Series 79.

To take the Series 79 exam, you must be sponsored by a FINRA member firm or a self-regulatory organization (SRO). Firms apply for candidates to take the exam by filing a Uniform Application for Security Industry Registration or Transfer (Form U4).

Clocking in at 125 questions to be answered in three hours and 45 minutes, the Series 7 exam is considered the most difficult of all the securities licensing exams.

FINRA exams are the way by which you can gain the FINRA license. The Series 79 exam allows you to gain the license to practice as an entry-level investment banking representative. On the other hand, the Series 82 exam gives you an advanced trading license where you can transact securities on behalf of your clients.

Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 82 exam to obtain the Private Securities Offerings Representative registration. For more information about the SIE and Series 82 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(9).

Many investment banks require their investment bankers to have their Series 7 (or General Securities Representative), Series 63 (Uniform Securities Agent State Law), Series 66 (Uniform Combined State Law), or Series 79 (Investment Banking Representative) credentials from the Financial Industry Regulatory Authority, the ...

Is Series 7 harder than CPA? - Quora. Having taken and passed both, I can say that without a doubt the CPA exam is more difficult, and for one primary reason… breadth of subject matter. The Series 7 is 3 hours and 45 minutes, is comprised of 125 questions, and has a pass rate of approximately 70%.

Series 7 Top-Off Difficulty For Those with a Background in Finance, or Economics… If you have a background in economics, finance, or business, then you might have an easier time. I would never advise no study time, but I've seen some students pass in two weeks.

What topics are heavily tested on the Series 7? ›

As a result, the Series 66 exam is considered by most to be an easier test. Like the Series 65 exam, it qualifies the individual to act as an IAR and fulfills the requirements for state registration.

You may take the Series 7 exam as many times as it takes to pass. Note there is a 30 day waiting period after your first and second failed attempt, and a 6-month waiting period after the third failed attempt and beyond.

The SIE exam, like other FINRA exams, is presented in a bell curve. Exams presented in this manner should start with easier questions, move to more challenging questions, and end with easier ones.

What is the usual study time for the Series 79? For new investment bankers, we typically recommend about 50-75 hours of total prep (about 4-6 weeks while working full-time).

Is algebra the same as calculus? No. Though they are closely related, they both belong to different branches of mathematics. While calculus deals with operations on functions and their derivatives, algebra involves operations on numbers and variables.

MATH 99 is an Extended Studies course designed to sharpen the basic mathematical skills needed in college-level mathematics. Successful completion of MATH 99 satisfies the prerequisite for MATH 1040 (College Algebra).

The Series 79 exam administered by FINRA allows registered representatives to work in the investment banking industry. These professionals can facilitate a number of areas, including debt offerings, asset sales, M&A, and restructuring activities.

The series 7 license is mandatory for traders to begin stockbroking in the United States. Although anyone over 18 is eligible to take the examination, a FINRA member firm or any other authorized self-regulatory firm (SRO) needs to sponsor them.

FINRA and Broker-Dealer Exams

SIE and Series 63 exams do not require any sponsoring program. Series 7, 79, and 82 require a FINRA exam sponsorship before you can take the test.

Is Series 7 easier than CFA? ›

Anyone who is a stockbroker must hold the Series 7 license. While also intense, this exam is generally believed to be significantly less difficult than the CFA. Its focus is also much narrower; it tests you on your knowledge of the concepts and functions of a registered representative.

The Financial Industry Regulatory Authority (FINRA) administers the exam. The organization has not placed any limits on the number of times you can attempt to pass the Series 7 exam, and there is no specific education required to take the exam.

The new Series 7 is harder, kind of

One of the fallouts from pulling general industry knowledge questions from all qualification exams is that the Series 7 just became more difficult. The exam no longer includes all the simpler questions that now make up the SIE, yet the passing score is still the same: 72%.

For students who have recently completed the Series 7, the Series 66 exam is easier than it is for students who have not. This is viewed as a tough exam because it is so broad.

That is because passing the Series 66 is equivalent to having passed both the Series 63 and Series 65. Having a valid FINRA Securities Industry Essentials Exam and Series 7 Exam are also co-requisites for registering using the Series 66.

The Series 63 exam has approximately a 70-75% pass rate.

The Series 6 exam is moderately difficult, with a recommended study time of 30-60 hours. The Series 7 exam is more challenging and typically takes much longer to both prepare for, with a recommended study time of 75-125 hours.

The Series 63 can be challenging because of the short amount of time available to complete it. Testing time is 75 minutes, leaving you only over a minute to answer each of the exam's 60 questions. Those who are underprepared may find the exam too difficult to pass the first time.

There is a 30/30/180-day rule with respect to the SIE and other FINRA exams. This means that you must wait 30 days after the first time you fail, and another 30 days if you fail again. If you fail a third time or more, you'll have to wait 180 days to retake the exam.

Why do people fail the Series 7? ›

Some test takers fail the Series 7 exam because they spend too much time on reading and memorizing calculations and concepts. In this article that lists 7 strategies for passing the Series 7 exam, it says to balance studying between manuals and practice questions, which is sound advice for first-time exam takers.

The Series 79 exam is designed to assess the competency of entry-level Investment Banking Representatives. The Series 79 exam seeks to measure the degree to which each candidate possesses the knowledge, skills and abilities needed to perform the critical functions of an Investment Banking Representative.

Bridge Capital Associates offers securities professionals series 79 sponsorship, series 82 sponsorship, and broker dealer sponsorships so you can focus on passing your exams and becoming certified instead of focusing on the cost.

California is widely considered to have the hardest bar exam, due to its low pass rate and the difficulty of the content and constraints of the exam.

Keep in mind, the Bar exam has much more difficult requirements to even sit for the exam—you need to go to law school, which is quite a commitment, both financially and in terms of time. While the CPA requires accounting experience and coursework, there's a lower bar for entry for this test.

Based on the passage rate, Oklahoma is the most accessible bar to pass. However, using test scores, Alabama, Minnesota, Missouri, New Mexico, and North Dakota are neck and neck on the UBE easy scale.

Let's face it, the series 79 exam is extremely challenging. You will be required to apply deep analytical reasoning and challenging mathematical concepts. Even if you understand what the questions are asking, it can be difficult to translate the key concepts into mathematical equations.

As mentioned, the Series 79 has 75 questions, plus 10 additional questions that are not scored. To pass the Series 79, test-takers must earn a score of 73% or higher. Candidates must pass both the Securities Industry Essentials (SIE) exam and the Series 79 exam before they can get their Series 79 license.

Those who have difficulties memorizing and applying new, unrelated mathematical techniques may say that Calculus 2 is the most challenging calculus class. On the other hand, students who struggle with making three-dimensional calculations may argue that Calculus 3 is the most difficult.

What is the most interesting series in math? ›

The Series 7 covers a broader range of topics, while the Series 79 focuses on investment banking products and regulations. However, Series 79 is considered harder because examinees are required to apply analytical reasoning and mathematical concepts.

Attend a live class or watch the on-demand lectures that cover all the material. Study your digital Series 79 flashcards in Brainscape's online or mobile app. Complete at least 1,000 online practice questions. Begin with shorter exams of 30-50 questions to drill and practice on a single topic or smaller set of topics.

Textbooks for the Series 3, Series 7, Series 9, Series 10, Series 24, Series 63, Series 65, and Series 66 exams and practice exams are license through Kaplan.

Knopman Marks' SIE students had an average pass rate of 97.5% on their first attempt, for the 15-month period ending December 2019, which is 23 percentage points above the national average.