Trading Jobs Securities Licensing 2

Question 1

Which FINRA exam qualifies a person to supervise other registered representatives?

Accepted Answer

Series 24

Answer

The Series 24 (General Securities Principal) exam qualifies individuals to supervise sales and trading activities at broker-dealers.

Question 2

What is the main purpose of the Series 3 exam?

Accepted Answer

Commodity futures trading

Answer

The Series 3 (National Commodity Futures Exam) is required for persons who solicit or accept orders for commodity futures contracts.

Question 3

A 'cooling-off' period of how many days applies if a candidate fails a FINRA exam three times?

Accepted Answer

180 days

Answer

After failing a FINRA exam three or more times, candidates must wait 180 days before retaking it.

Question 4

Which exam is specifically designed for equity traders working on a trading desk?

Accepted Answer

Series 57

Answer

The Series 57 (Securities Trader Representative Exam) replaced the Series 55 for equity traders in 2016.

Question 5

The Series 79 exam qualifies professionals to work in which area?

Accepted Answer

Investment banking

Answer

The Series 79 (Investment Banking Representative Exam) qualifies individuals to conduct investment banking activities such as M&A advisory and underwriting.

Trading Jobs Practice Test

Trading Jobs Practice Test

Trading Jobs Securities Licensing 2