The Series 86 and 87 exams measure
the degree to which each candidate possesses the knowledge needed to perform the critical functions of a research analyst
, including preparation of written or electronic communications that analyze equity securities and/or companies and industry sectors.
What is a Series 87?
The
Research Analyst Exam
, or Series 87 exam, is meant for those individuals who wish to be qualified as a research analyst at either the NYSE or a FINRA member firm. These individuals are responsible for producing various forms of research reports and their names will appear on each report they complete.
How hard is the Series 86 exam?
The Series 86 is Different
In short,
it’s difficult but not insurmountable
. Most people with some background in accounting can get through the exam on the first attempt. However, without an accounting background it can take 2 or 3 tries.
How long does it take to study for the Series 86?
An estimated
80 to 100 hours of
study time is recommended to pass the test. The Series 86 portion of the exam includes two tracks: information and data collection, and analysis, modeling and valuation.
How many questions is the Series 86?
The Series 86 exam is
100 questions
in length. Despite a more truncated exam than the Series 7 Top-Off Exam, 80% of it comprises analysis, modeling, and valuation.
What is the Series 63 pass rate?
The Series 63 pass rate was
98.36%
, and the Series 66—one of the most difficult exams—had a pass rate of 88.46%. The firm’s overall pass rate across all exams was 99%.
What is the Series 57?
The Series 57 exam —
the Securities Trader Representative Exam
— assesses the competency of an entry-level registered representative to perform their job as a securities trader representative.
How do I get the Series 86?
Candidates must
pass the Securities Industry Essentials (SIE) exam and the
Series 86 and 87 exams to obtain the Research Analyst registration. For more information about the SIE and Series 86 and 87 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(6).
What is the Series 63 test?
The Series 63 exam —
the Uniform Securities State Law Examination
— is a North American Securities Administrators Association (NASAA) exam administered by FINRA. The exam consists of 60 scored questions. Candidates have 75 minutes to complete the exam.
What is a Series 82?
The Series 82 exam measures
the degree to which each candidate possesses the knowledge needed
to perform the critical functions of a private securities offerings representative, including solicitation and sale of private placement securities products as part of a primary offering.
Do you need a sponsor for Series 86?
Like the Series 86/87 license, FINRA administers the Series 7 exam. Similarly,
license-holders must be associated with and sponsored by a FINRA-member firm
to have either the Series 86/87 or Series 7 license.
What is the Series 99 exam?
The Series 99 exam is
designed to assess the competency of entry-level Operations Professionals
. The Series 99 exam seeks to measure the degree to which each candidate possesses the knowledge, skills and abilities needed to perform the critical functions of an Operations Professional.
What is required for a Series 7 license?
Series 7 And 63 Licensing Requirements Are As Follows:
You must be sponsored by a member of FINRA (formerly NASD) or a Self-Regulatory Organization. You will not be able to sit for the Series 7 exam without a sponsor.
A passing grade of 72% or better on the Series 7 exam
, administered through Prometric Testing Centers.
What does the Series 66 cover?
The Series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. The Series 66, also known as the Uniform Combined State Law Examination, covers
topics relevant to providing investment advice and effecting securities transactions for clients
.
What does a supervisory analyst do?
A financial analyst who has passed a New York Stock Exchange exam that qualifies him or her to supervise other analysts
. A supervisory analyst must approve research reports and notes before they are distributed to the firm’s clients or the public.
Which series exam is the hardest?
The Series 7 exam
is by far the longest and most difficult of all the securities exams. It lasts for 225 minutes and covers all aspects of stock and bond quotes and trading; put and call options; spreads and straddles; ethics; margin, and other account holder requirements; and other pertinent regulations.
