Series 79 - July 2023
Wanted to give everyone looking to take the 79 some pointers as I came here and searched the forum while I was studying for my exam... I just took the test this morning and passed! I trained with Knopman Marks.
Advice:
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DO NOT read the book. Total waste of time. Mine is still in it's original wrapping (PM me if you want to buy it).
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Watch the videos only, take extensive notes.
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Once done with videos, take as many practice questions as possible.
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My exam had maybe 10 math questions, the rest were very heavily focused on fairness opinions, M&A, Tender Offers, various filing requirements (10Q, 10K, 13D, etc), and also where bankers can source data from for comparable analysis.
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Back to point #3, do as many questions as possible. I did around 1200. Take your first tests with 25-50 questions and answers on. Do around 500 questions this way. READ the answer if you got it wrong, understand the concept/why you got it wrong in the first place. Then do 500-600 with answers off.
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There is a document in the supplement section of Knopman called Key Concepts, where they summarize a lot of the terms and formulas for you. Print it out and study it.
If you do all this you will pass. I literally just came back from my exam and 50% of the questions on the exam were harder than Knopman for sure, and definitely MUCH lengthier (2-3 paragraphs long). But as long as you take a ton of questions and understand the concept behind them, you will understand what they are asking.
Good luck!
Appreciate this, would you suggest I take the same approach to sie and 63 and my firm is giving me one week for sie and one and a half week of 79 is that time fine, or should I start studying early
Not sure tbh.. I took my 79 first, taking my SIE in 30 days. I think that as a general rule, these exams all require at minimum 2-4 weeks of studying.
Lmao /2-4 week? My firms doing Knopman training and it’s pretty much one week or one week and a half for each exam
What were you scoring on practice tests before you took exam? Thanks
63% was my lowest score. Avg was around 74%. The last test I took before the exam I got a 72%
This is fairly low. Would encourage people to aim for 80-90% on final practice tests
That feels low for having done 1200 questions...there are only so many concepts and I feel like after 500, they are very repetitive. Still good practice but still.
Wait u said 50% of the questions on the exam were harder than Knopman? Everyone including knopman said its usually the other way around, that knopman questions are the harder ones. Could you please confirm / clarify thanks!
That’s what I thought was going to end up happening as well based on everything I’ve read… I felt the actual exam questions were harder and 100% much lengthier - I’d say 40% of the questions require you to read at least two paragraphs. The one type of question which there was literally zero of was the type where they give you 4 possible answers and you have to select two possible choices. I didn’t get any of those.
As someone who was never good at studying over the long term and was much better at cramming here are my steps on passing the series 79. (I passed mine with 4 days of studying and I never took a "practice exam", watched a video, and only used the book for reference)
Steps to passing:
1. Go to this link: https://www.finra.org/sites/default/files/Series_79_Content_Outline.pdf
(if that doesn't work google Series 79 content outline, Also please note date of post prior to studying off the above)
2. Print out the outline and go line by line and make sure you know every line.
( I believe there is something like 150 items, so if they need 75 questions - 50% of the material is on the test)
3. Review notes again, until its seared into your brain
4. Go take test
Passed all three tests last summer and completely support this approach. Just bang out as many practice questions as you can. Once you hit 90% on a section focus on practice exams for other sections. Read the explanations for each answer you get wrong and write it in your notebook. Read your whole page of corrections between practice tests.
This is like a test in college with the largest test bank ever. They basically give you everything you could be asked.
Do you all think I’m good if I’m scoring in the 80-90s on 85q practice tests + got a 78 on benchmark exam?
Yes. I was scoring much lower than you and passed. Know your fairness opinions and m&a. To me that seemed like the most tested.
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