Series 56 Exam or Proprietary Traders Qualification Examination
The Proprietary Traders Qualification Examination (Series 56) is intended to test an applicant's information of relevant items, securities markets, exchanging and announcing hones, speculation procedures, and against extortion arrangements as material to the part of an exclusive broker.
Syllabus for the Series 56 Exam
The Series 56 examination consider blueprint is planned to be utilized as a kind of perspective for those people wishing to sit for the exam. The inquiries on the exam are gotten from the data points displayed inside this archive, and are not manage particular with respect to one trade or SRO association. The standards and controls recorded in this blueprint are for reference purposes as it were. The examination is separated into five general regions, which are recorded underneath, along with the comparing number of focuses from every region.
1 Personnel, Business Conduct, Recordkeeping and Reporting Requirements -- 9 points
2 Markets, Market Participants, Exchanges, and Self Regulatory Organizations -- 8 points
3 Types and Characteristics of Securities and Investments -- 20 points
4 Trading Practices and Prohibited Acts -- 50 points
5 Display, Execution, and Trading Systems -- 13 points
Format of the Series 56 Exam
The examination is made out of 100 various decision questions covering the materials in the taking after layout as per the topic conveyance recorded previously. Applicants will be permitted 2 1/2 hours to finish the examination. Toward the fulfillment of the examination, every hopeful will get an enlightening breakdown of their execution on every segment what's more, their general score. The examination is a shut book test and hopefuls won't be allowed to utilize any reference material amid their testing session. Scratch paper and a fundamental electronic number cruncher will be given by the test focus executive. Extreme punishments are forced on applicants who undermine securities industry capability examinations.
The cost of the exam is $195. Once candidate pays the fees, the candidate can schedule the exam with a Pearson VUE or Prometric testing center with 120 days of eligibility period provided by FINRA. Candidates are required to score 70 % in order to get the certification.
Candidates are not allowed to bring their personal belongings to the examination center. A calculater, pen, pencils, erasers will be provided at the testing center. To guarantee that new inquiries meet worthy testing principles before utilize, every examination incorporates 5 extra, unidentified "pre-test" addresses that don't contribute towards the applicant's score. The 5 inquiries are arbitrarily dispersed all through the examination. In this manner, every competitor takes an aggregate of 105 inquiries, of which 100 inquiries are scored.
Study Guide And Test Preparation For Series 56 Exam
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