What is the Series 87 exam?
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.
How hard is the Series 86 exam?
Simply put, the Series 86 is the hardest FINRA exam that we tutor at Professional Exam Tutoring. The exam is extremely analytical – which makes sense, since it’s for analysts – heavily quantitative.
How do I get the Series 86?
Series 86 is an in-person, closed-book test with a four-and-a-half-hour time limit. In order to pass, participants must register to take the exam at one of several thousand Prometric testing centers and earn a score of 73% or better. This part of the exam costs $185.
How long is the Series 86 exam?
4 hours and 30 minutes
Candidates will be allowed 4 hours and 30 minutes to complete the Series 86 exam, and 1 hour and 45 minutes to complete the Series 87 exam.
How long does it take to study for the Series 86?
80 to 100 hours
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?
100
Series 86 (Part I): This exam consists of 100 multiple-choice questions and 10 pretest questions, testing an individual’s knowledge of the field. Candidates have four-and-a-half hours to complete the Series 86. 1 A score of 73% or better is required for passing.
How long does it take to study for Series 86?
What happens if you fail the Series 86?
For those research analysts who received the grace period and failed the Series 86 and/or 87, the normal waiting period of 30 days after first and second attempts and 180 days after third and subsequent attempts will be enforced as of April 4, 2005.
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.
How many times can you take a FINRA exam?
If you fail the exam, there will be a waiting period before you can take the exam, per FINRA Rule 1070(e). Generally, you can retake the exam after 30 days of the previous exam. If you fail the exam three or more times in succession, you will have to wait 180 calendar days to attempt the exam again.
Can I get my Series 7 without a sponsor?
To take the Series 7 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).
How much money can I make with a Series 7 license?
General Securities Representative – (FINRA Series 7) Jobs by Salary
| Job Title | Range | Average |
|---|---|---|
| Registered Client Associate | Range:$43k – $71k | Average:$53,644 |
| Certified Financial Planner (CFP) | Range:$50k – $125k | Average:$71,599 |
| Financial Planner | Range:$43k – $100k | Average:$63,358 |
| Compliance Officer | Range:$51k – $106k | Average:$75,631 |