3/15/16

I am about to start a new job equity trading and originally thought I would need to take the Series 55. As of January 2016, the Series 55 is no longer the Securities Trader Exam, it is now called the Series 57. Have any of you taken the exam and if so, which service did you use for exam prep/practice tests and how difficult was the test? There is really not a lot out there due to the fact that the test is so new... I received STC materials from my firm and bought Pass Perfect materials on my own because that is what I used to prepare for the 7 and 63.

Any help is much appreciated. Thank you!

Comments (10)

3/15/16

Maybe call up STC and ask a class instructor more about the exam?

********"Babies don't cost money, they MAKE money." - Jerri Blank********

Financial Modeling

3/19/16

I took it and failed. Its much harder than the 56. Out of 7 of us only 2 passed. We used STC and passperfect. The practice tests were no use. Better to read the material and understand the concepts than cram. I was getting 90 on the practice tests but got a 68 on the actual exam. Delay and go prepared if you can.

1/9/17

How is it any different from 56? I took the 56 and passed it on my 2nd try... Of course, this was a long time ago.

Best Response
3/22/16

I took it yesterday and passed it. I used STC (only valuable part was the 'crunch time study guide') and took 3 practice tests, getting 60,68,78; I got 82% on the test. Note that the test is actually curved -- some questions count for more than 1 full point if they have been proven to be difficult. So thank you to the ppl above me who set the bar lower :)

It was much harder than 7, and about as difficult as the old 55. I put a solid 10 hours in of studying (including 3 practice tests), but I passed 55 many years ago, and have worked extensively in this field.

It is not sufficient to know the basic concepts and regulations; they ask a bunch of questions about the specific trade reporting identifiers , market hours, obscure variants of limit order handling rules, etc. You have to memorize the specific numbers of the regulations. Also, there's no logical way to eliminate a lot of the wrong answers. On the plus side, if you can get 70 answers solid and guess on the rest, you've got a 99% chance of passing, so you really only need to know a little more than half the stuff.

7/10/16

thank you for the collor, very good. I am using the Knopman study material, it seems to be more complete than the actual STC. tks,

7/12/16

+1 for Knopman Marks

Brian Marks
Knopman Marks Financial Training
1120 Avenue of the Americas
4th Floor
New York, NY 10036
www.knopman.com
Office: 212.626.6899

8/14/16

I have taken my exam today an I got an 84. It is a very tricky exam, you really need to understand the concepts, not a "cram and memorize" type of exam. Like I previously said, I used Knopman, I've read the book and went straight to the practice exams. After each practice exam, I reviewed the chapters I didn't do so well (basically wen't thru the book one more time)... If you are @ 75% on their practice exams, and get at least an 75 on their BENCHMARK exam, you are good to go....

Good Luck!!

1/9/17

Did you purchase Basic package only? (for $300) or with video lectures (additional $150)

When the rich wage war, it's the poor who die

1/13/17

Hey All,

I took the exam 4 days ago. This exam is no joke. I barely passed with a 72 and I read the book cover to cover and took over 120 pages of notes. I also took all the online exams 3 times getting 85% averages in every chapter plus took the benchmark exam twice passing both times. If you have passed similar exams or have been in the finance world you will definitely have an advantage. There are simply lots of scenarios that are never addressed in any text I would guess due to the newness of the exam. So my recommendation is learn the stuff forwards and backwards and use your best logic and intuition on the many questions that aren't covered.

(Used the Knopman-Marks book and online exams $300.)

P.S. Someone above stated certain questions have more value than others. I got a confirmation from Knopman that that is not the case. All 125 questions are equally valued.
Study your ass off folks!

1/24/17

When the rich wage war, it's the poor who die

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