I have a very detailed outline that I'm going to make available to the forum. Either through a editable gdoc or through a personal wiki. Frankly, we all spend way too much time studying / preparing for the exact same things. I'm hoping that a few people will taking it upon themselves to improve upon this outline as they study. I'll post the links later today (whichever route I decide). Email me for edit permission.
23 Mar 2011
Can someone explain who needs to take Finra 63/79 and why only some firms require you to take it? Also, is it possible to take these exams without getting sponsored?
15 May 2020
Seeing as there have been a few recent posts about the NASD/FINRA Licensing exams, I thought it would be prudent to discuss them with you guys, since most of you monkeys looking for full-time employment on the street will need to take them in some way, shape or form. Very simply, the licensing exams are a necessity across the board for almost everything you do on the Sell-Side. If you work for a broker/dealer or for a firm that inventories their own assets you might need a license. If you're in sales and trading or do equity research, you will need it. If you're doing any sort of client
15 Jan 2011
I've been studying for the SIE using Knopman Marks for about a month, averaging an hour a day or so..but more hrs/day now that I have to test soon. I read the textbook and am going through their online videos... I have an economics/finance background in college. How long did it take you guys to study for and pass the exam?
02 Jan 2021
Upon graduation from business school I am starting as an investment banking Associate and am required to take and pass the Series 63. Prior to getting my MBA I was in equity research and had a Series 63 license. I worked in research until August 2010. I have heard that the 63 expires after 2 years out of work in the industry. Does anyone have experience with this or know if I have to re-take the Series 63 during training? It would be nice to avoid another test.
17 Apr 2012
How many hours did you spend studying for the SIE and what is the best study guide? WSO has an SIE that looks great but I was interested in hearing more about the exam as well. Is it hard for someone who graduated with a finance degree? Is it just a lot of terms/vocabulary to memorize? The pass rate seems to be 80% or so but I was curious about what anyone else thought as well.
07 Dec 2020
I am trying to take the Series 7 and 66 a year from now and have started studying. I have been looking for a FINRA firm to sponsor me, does anybody know which firms are easier to get sponsorship from? I am still in college and want to have this designation before I graduate or right around the time I graduate, assuming I would pass. What is the Series 7 and Series 66? The series 7, also known as the General Securities Representative Exam (GSRE), is a test for registered representatives, or stockbrokers to get their license to trade. It is a 6 hour exam held in 2 3-hour sessions with 260
08 Apr 2011
Starting my full-time career in a few months and honestly starting to freak out about the SIE exams. I have a documented audio/visual disorder that has allowed me double time on tests and quizzes throughout HS/college as well as other exams (i.e. SAT, ACT, CPA). Will I be able to do the same with the SIE (FINRA) exams, and if so, will I be able to keep the matter confidential from my firm? I'm extremely competent and prepared for my new job (I've worked several other IB/finance/accounting internships before and did very well), but I'd rather not have to bring up the fact that I need extended
16 Oct 2020
I was just attempting to enroll for the SIE and there is a remote proctoring exam option. I wonder if anyone has experience with this?? If an erasable whiteboard and markers are allowed? Can you use the built-in camera on your laptop? Thank you!
11 Jul 2020
EXTRA, EXTRA!!!! Investor confidence gone! Investment Banks and Hedge Fungs lunch on the little guy! SEC has'em all for dessert! You pay, if you play! Read all about it!!! . Ok...well, maybe I'm in too much of a post Gatsby mind set today, but CNBC populism always brings a grin to my face. The kind you got as a kid when an adult caught you imitating the mentally challenged. Guilty, but not really sorry. The point is debate worthy, however. I have spent a great deal of time talking to and arguing with people about the state of the economy and our wholesale financial future going forward. Opinions have rarely been reserved or rational, so I'm looking to hear some cool headed suggestions from you guys.
14 Sep 2010
I'm in consulting but am hoping to potentially make the move to IB down the line. My concern is about the personal financial disclosures that one has to make. Earlier in my youth, as an idiot, I incurred a couple (2) minor FINRA violations--"free riding" and "good faith" violations--playing around with my individual investment account. They were very small and unintentional but I'm sure that doesn't matter. (& honestly serves me right for making trades without understanding what I was doing.) My question is, will these FINRA violations show up in any sort of background check or keep me from
22 Feb 2018
Hello all, I work as a stockbroker for a small brokerage firm. My firm helped me get Series 7 and 63. Although my boss doesn't need me to get any additional licenses at this point, I thirst for more knowledge. I want to take Series 3, 65, and 67 to add more qualifications to my resume (and perhaps prepare for a job switch). I already have an U4. Can I go register for the exams myself or my company must do it for me? I don't know the process. When I took 7 and 63, my company opened an exam window for me, then I went to FINRA's website to choose exam dates. I don't remember seeing any payment
01 Jul 2017
For the younger members who don't know or the older guys who can't remember, Kenneth Starr was the lawyer who tried to get Bill Clinton impeached a little over a decade ago. America obsessed about Bubba and Monica, with Mr. Starr as the ringmaster who enjoyed his 15 minutes of fame as much as anyone. Today, we get news of another Ken Starr. Kenneth Ira Starr, that is. Dubbed "mini-Madoff" by the media, Mr. Starr is the investment adviser (arrested on May 27th of this year) accused of bilking his jet set clientele out of over $59 million dollars. If you recall, Starr was found hiding in his closet as the FBI kicked down the doors, claiming that he thought "it was a home invasion".
27 Jul 2010
Hey guys, sophomore undergrad interested in AM or ER for career. What certifications or exams are available to undergrads to bolster a resume? I already plan on taking CFA® Level 1 but was wondering if someone could give the specs on FINRA series exams or other relevant certs. Can i take the FINRA exams without being sponsored? Anybody have any recommendations, thanks in advance.
02 Mar 2011
I am currently considering moving to the UK for IB (No need for a Visa). What is the equivalent of the FINRA exams in the US? Would I need to take the exams again? Does the UK need exams at all?
04 Sep 2020
Read through the Series 86/87 recent posts and concerned about the disconnect b/w the questions STC provided and the actual test. Just wondering if anyone who took the test recently had any input on how close the STC materials were to the actual test? Were questions from the supplemental exam on the actual test? I read the book, took all the test - (scores in high 80's). Am I good in shape or some other resource I should exhaust? Any input/advice is appreciated. Feel free to PM me on this.
30 Jan 2011
Do I have to tell firm management where I am lateraling? I might be leaving to a competitor and would prefer not to mention which bank I am lateraling to. I'm not sure if there is FINRA regulation related to this.
05 Mar 2020
Hi, I was wondering if it would be appropriate to take the series exams now( that are relevant for trading at BB)? or should I wait until and if I get a full time offer in trading. I thought have one or two series exams would make me more attractive to employers. I won't be able to look for an internship next year, because I'm graduating next semester... so I will go straight for full time... What do you think? Thanks.
31 May 2012
If you would like to have these books (almost new condition), please email me at "[email protected]" Can be picked up if you are in NYC area, or you can email me a shipping label and I am happy to drop them off at the courier
19 Sep 2019
This one really oughtta make that baby in the comercials puke. FINRA has slapped a $1 million fine on the online investments company for slacking in their anti-money laundering procedures. It wasn't just a momentary lapse, either. For about 4 and half years the firm who lets arm-chair investors play Russian roulette with the market had little to no automated process with which to monitor suspicious trading activity. They just crossed their fingers and hoped their good ol' employees would keep an eye out. Not surprisingly, E*Trade has no comment.
02 Jan 2009
I really want to work in finacial regulation, and I would like to work from entry-level and contribute my whole career life in this area, is there anyone working in this telling me what are the requirements for a job for this? thank you so much!
18 Jul 2012
Do companies 'reactivate' your FINRA licenses if you are in roles (specifically Asset Management/client interacting roles) for summer internships if theyre needed? Or what about for off campus recruiting for roles that you'd start post grad -- will the firm, after hiring you, snag your U4 and process it to make your licenses 'live' again or will you have to go through the process in its entirety to reacquire them again? Anyone know?
16 Oct 2013
College student here (incoming sophomore) with nothing planned for the rest of summer. Could someone give me the lowdown on which Series are useful for what career functional areas? Also, where I should find practice exam books / study guides? Passing one or two seems like a decent way to spend some time.
13 Jun 2011
Self explanatory. Do you need any FINRA licenses (Series 7, 63 etc) to work on the buy-side (asset management specifically)?
20 Mar 2021
Filling out Form U4 right now and am unsure if I am required to list all previous unpaid internships? I'm talking internships where I didn't even get a W-2, or have any verification that I even worked there (on paper). I know with brokercheck now, everything is public, so I don't necessarily want to divulge anything I don't have to. Job in question was at a BB regional PWM position that was unpaid (and the work I was doing was not directly related to finance, for the most part, either). Thanks!
10 Jul 2015
Hey all, I recently received an offer from FINRA for market regulation (20/hr + relocation costs for the summer). I am late to the game and am glad to have an offer, but given that it doesn't fit my ideal career path I am curious to accept it. I'm a junior at a semi-target with a 3.4 in economics +second unrelated major. I have previous internship experience that is unrelated to finance (marketing/business development) with some club experience directly related. My ideal careers would be along the line of 1. public market investing/trading (AM, ER, such) 2. VC/IB/PE type finance 3. Consulting
07 Mar 2019
Hi all, Can anyone please tell me what working at FINRA is like? I know that it involves a lot of travel. How is the work life balance? Comp? Is the work interesting? Any advice would help. Thanks Vagabond
15 Mar 2013
I'm wondering, as I'm about to take the series 56 exam, how long did anyone here who took it take in terms of studying? Also, given the sheer amount of stuff on it (it has everything from options hedging/income/fx options to stocks, rules, at least 500+ pages in Pass Perfect), will future employers see it as a sign of being well versed?
02 Mar 2013
Does anyone here run an Instagram/YouTube or any other personal blog of any sorts from which they generate revenue? If you are a registered rep / under Finra jurisdiction, I assume you have declared an outside business activity with your firm. Can you please share your experience? Conversely, if you tried and been denied, please share as well.
29 Jul 2020
Since I've seen some people struggle with the following tests, I am willing to offer tutoring sessions for the Series 6 and Series 63 licenses. I am in Atlanta so anywhere in the Atlanta area including downtown, midtown and buckhead at a local coffee shop or local library. I am also offering tutoring if needed for the Life Insurance (Georgia) and Variable Products (Georgia) licenses. 60 per hour (cash). If interested, PM me here. Also, check out my new blog. http://futuresandtguy.blogspot.com/
11 Mar 2012
Taking my 7 for my second time next week....first attempt i sadly got a 71 (lol....) I used STC was scoring low 80s on online test now im scoring high 80s to low 90s. Started taking the Training consultant test today got a 75...Its crazy how much the scores differ. Also took the dummies test got an 88 on it. Who used what and which source should I grind with till test day! Thank you
10 Feb 2016
During 2004-2008 employees saw compensation levels across the nine largest IB outstrip revenues but in 2012, executives are now more focused on investors than rainmakers. They have endured two axed CEO's, incurred losses as HFT and dark pools take over trading, scurried to comply with a sea of regulations, become entangled in high-profile scandals, taken a hatchet to bonuses, and waged a small war against it's own employees. However, hidden within the brokerage divisions of IB's there may be a silver lining for increasing compensation in 2013. FINRA has a plan to approve a requirement to
23 Dec 2012
I'm series 6, 63, and 7 certified, I also have my health and life insurance licenses. Am I allowed to blog or write about my feelings about the markets?
04 Oct 2012
so what kind of career path might someone who works at Finra, National Futures Association, CME, etc. have down the line? I'm lookin at one of these, and while they do seem accounting slanted, it is a somewhat related industry. Would I have a chance at IBD down the line, PE/HF (even if not revenue generating immediately)?
17 Oct 2014
Have a dismissed petty theft on my record from 5 years ago that I am really worried about after reading the few threads. I talked to the FDIC customer service, and they said its an automatic clearance. Although it's dismissed it show's up on a background check ( i did a livescan). Any advice would be much appreciated.
25 Jun 2016
Good Afternoon, I have an initial interview with a large investment services company, but the position would be in the IT department. (I'm a computer network engineer). My question is: are all employees for a company subject to the FINRA statutory disqualifications? I'm asking because 7 years ago I was convicted of misdemeanor theft while in college. I know if I were a broker or somehow involved with selling or managing securities I would be disqualified, but are all employees subject to those rules? And yes, it was stupid, I learned from my mistakes and have been back on the right track
06 Jun 2010
Good afternoon Monkeys, A simple quick question. In a M&A circumstance, what's the difference between Finra registered IB and Non-registered IB? Be specifically, What kind of business could a non-registered M&A advisory do? And, what kind of business they couldn't do? Many thanks.
24 Jun 2015
An overview and explanation of the FINRA / NASD certifications was created by WSO super-user Frieds to help out those who are curious. Seeing as there have been a few recent posts about the NASD/FINRA Licensing exams, I thought it would be prudent to discuss them with you guys, since most of you monkeys looking for full-time employment on the street will need to take them in some way, shape or form.
11 Sep 2012