Quick Answer: What series exams are required for investment banking?

Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 79 exam to obtain the Investment Banking Representative registration. For more information about the SIE and Series 79 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(5).

Is the series 79 hard?

The degree of Series 79 exam difficulty, therefore, is quite high. The questions are detailed with a heavy emphasis on data and analysis. So you should expect it to be challenging; however, with dedicated and focused preparation, it is possible.

Is the series 63 hard?

How hard is the Series 63 exam? Expect the Series 63 to be challenging, mainly because of the short amount of time you have to complete the questions. You only have 75 minutes, so if you spend more than a minute and 15 seconds on each question, you can fall behind quickly.

Do investment bankers need Series 7?

The Series 79 and Series 7 are two different exams required by financial professionals who wish to obtain registration by FINRA. While the Series 7 is required by all securities representatives at the entry-level, the Series 79 exam is a requirement for anyone who wants to work as an entry-level investment banker.

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Is the Series 7 Hard?

Is the Series 7 Exam Difficult? 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. The minimum passing score is 72, which may not seem that difficult.

Is the Series 7 or 63 Harder?

For instance, by contrast the Series 7 Top-Off difficulty level is much higher than the Series 63. Thus, students often underestimate the Series 63 difficulty level given its shorter length and thinner text, and thus under-study.

How long should I study for Series 7?

You need to spend 80-100 hours studying for the FINRA Series 7 exam if you have a finance background and about 150 if you don’t. The first thing you should do is lay out a study plan that ensures you put those hours in. Give yourself enough time to take breaks from study to let concepts percolate.

What happens if I fail the Series 63?

What happens if I fail the Series 63? After the first or second time a candidate fails the Series 63, there is a mandatory 30-day waiting period before they can take the exam again. After the third (and subsequent) fails, the waiting period increases to 6 months. The $135 exam fee applies each time they take the exam.

Do investment banks need Series 63?

Get securities licensed

Generally, you’ll need a Series 7, Series 79, and Series 63, which you can only acquire after you are employed and sponsored by a financial firm. However, you can improve your resume by passing the Securities Industry Essentials Exam (SIE) before you are hired.

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Do financial analysts need Series 7?

Candidates will be required to pass both the Series 7 and the SIE exam to obtain their general securities registration.

How long is the Series 63 exam?

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.

Is there math on the Series 7?

The exam is approximately 30% math (e.g. options, margin and convertible bonds). Some candidates feel strong in the math and will plan to score well there, allowing for a slightly weaker performance on the regulations. Other candidates “fear” the math – that’s okay too.

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.

How much does Series 7 cost?

How Much Does It Cost to Take the Series 7 Exam? The exam fee for the Series 7 is $245.