New Edition of Solomon Study Guide for Series 24 Exam Now Available

The 5th edition of the Solomon Series 24 Study Guide covers everything you need to know to pass the Series 24 exam and become a General Securities Principal. Continue reading

Do you already have the Securities Industry Essentials (SIE) Exam and a representative-level qualification exam such as the Series 7 or Series 79 under your belt? If you’re thinking about pursuing a principal-level role at a broker-dealer, then you’ll likely need to pass the Series 24 exam. Also known as the General Securities Principal Qualification Exam (GP), the Series 24 exam assesses how competent you are to perform the job functions of an entry-level principal dependent on your rep-level registration(s).

What does the Series 24 qualify me to do?

When you are a “principal” at a securities firm, it means you’re licensed to supervise others. Therefore, the Series 24 exam tests your knowledge of rules, regulations, and practices in all areas of a firm’s investment banking and securities business. After passing the Series 24, the permitted supervisory activities include regulatory compliance over:

    • advertising
    • market making
    • trading
    • underwriting

As you can probably guess, the Series 24 is a difficult exam that requires dedicated study time with up-to-date, comprehensive materials. To help securities professionals effectively prepare for the Series 24 exam, Solomon Exam Prep is pleased to announce the release of the 5th edition of “The Solomon Exam Prep Guide: Series 24 FINRA General Securities Principal Qualification Examination.”

What changes with this new edition?

The 5th edition of the Study Guide includes the following updates:

    • Revamped coverage of net capital to focus on the most testable facts
    • Coverage of compliance obligations when a firm outsources business functions
    • Information about a new FINRA rule that may require heightened supervision when a rep is appealing a violation
    • Expanded and updated discussion of Regulation D private placements and the SEC’s new definition of accredited investors
    • Extensive coverage of Regulation Best Interest and the new suitability requirements it imposes on broker-dealers
    • Information about the SEC’s new, higher exempt offering dollar caps
    • Expanded coverage of the taping rule for firms who hire associated persons formerly employed by a disciplined firm
    • Additional information about OTC due diligence
    • Coverage of FINRA rule changes for continuing education, permissive registration, and the Maintaining Qualifications Program
    • Revised coverage of FINRA’s updated fingerprinting rules

How do Solomon Series 24 Study Materials help you prepare?

To help prepare candidates for this challenging exam, the Solomon Series 24 Study Guide is continually kept up to date to reflect current rules and regulations, and it covers all key exam topics. Charts, graphs, and practice questions throughout the text support learners in understanding and practicing key concepts.

“If you have to take the Series 24 Exam, you’re probably already a Limited Securities Representative and have passed the SIE and at least one of the representative-level exams. This means you have an idea of what to expect, and you know that serious study and practice is required to pass an exam. Having a study guide that explains concepts in plain English and supports comprehension with helpful graphics, examples, and practice questions is crucial when it comes to retaining the knowledge you need for this exam. Solomon’s 5th edition of the Series 24 Study Guide provides exactly that and has helped thousands of students pass the Series 24 exam.”
Jeremy Solomon
Solomon Exam Prep President and Co-founder

Content updates for the 5th edition of the Solomon Series 24 Study Guide are also reflected in the Solomon Series 24 Exam Simulator. The Exam Simulator complements the Study Guide with over 3,500 practice questions for the Series 24. Hone, track, and assess your knowledge by taking unlimited chapter quizzes and full practice exams to apply the concepts you’re learning.

Series 24 Study Materials

The 5th edition of the Solomon Series 24 Study Guide is available as a digital subscription with a hardcopy upgrade option. You can purchase the Solomon Series 24 Study Guide individually or in a package with supporting Series 24 study products. Customers also have access to free tools and resources, including a study schedule in digital and pdf formats, which helps you master the exam material with maximum efficiency.

To learn more about Solomon Exam Prep’s Series 24 study materials, including Study Guide, Exam Simulator, Audiobook, and Video Lecture, visit the Solomon Series 24 product page.

“I passed the 24 with the help of the audio, book and test questions... The flow charts and extra resources section were extremely helpful in breaking down sections of this "dry" test. The audio was great to review and the book format was easy to read and concise. I felt almost every question I knew what they were asking and I was able to eliminate one or two questions. Don't waste your money with other sites. Solomon will allow you to pass on the first time. Good luck!”
Matthew D.
Orange County, CA
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Audiobook Study Guide for the Series 53 Exam Now Available

An audiobook version of the Solomon Exam Prep Series 53 Study Guide is now available for the first time for professionals studying for the MSRB Series 53 exam. Continue reading

Photo used in image by [Seventyfour]/stock.adobe.com

If you already have a Municipal Securities Representative (Series 52) license, you might be considering taking the Series 53 exam. The MSRB Municipal Securities Principal Qualification Exam (Series 53) qualifies you to oversee the municipal fund securities activities of a securities firm or bank dealer. You’re also permitted to supervise associates working in multiple capacities related to municipal securities. For this reason, passing the Series 53 exam requires you to know a lot about municipal securities, MSRB rules, customer accounts, municipal securities trading, recordkeeping, suitability, settlement and delivery, federal securities acts, SIPC, and more. How will you learn everything you need to know to pass this challenging exam?

Solomon Exam Prep is excited to announce the release of its first Audiobook for the Series 53 exam. A word-for-word reading of the Solomon Exam Prep Series 53 Study Guide, 4th Edition, the Solomon Series 53 Audiobook gives you increased flexibility in where and how you study for the Series 53 exam.

The Benefits of Audiobooks

If you like to learn by listening, a Solomon Audiobook offers the perfect way to study on the go. Or, play it while you read to help yourself focus and retain even more content. Read this Solomon blog post to learn more about the benefits of studying with audiobooks.

“The audio materials are a lifesaver and a great resource to utilize, especially while driving.”
Kristina Ribali
Modern Woodmen Fraternal Financial, Naples, FL

The Series 53 Audiobook is streamable from your Solomon student dashboard or the free Solomon app for Apple and Android devices and includes these helpful features:

    • Tracks divided and named by chapter so it’s easy to follow your Solomon study schedule
    • Time-stamped sub-sections to quickly jump to specific sections in a chapter
    • Simple track downloading option available for offline learning
"Your audiobook was the game changer for me. Thank you!"
S. Stephens
Merrill Lynch, Orlando, FL

Series 53 Study Materials

The 9.5-hour Series 53 Audiobook can be purchased individually or as part of the Audio Premium study package, along with the Solomon Series 53 Study Guide and Exam Simulator. To learn more about Solomon Exam Prep’s Series 53 study materials, including Study Guide, Exam Simulator, and Audiobook, visit the Solomon Series 53 product page.

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MSRB Updates Continuing Education Requirements to Match Similar Changes by FINRA

The MSRB has proposed several changes to its continuing education requirements to harmonize with FINRA’s new CE requirements. Continue reading

Municipal securities professionals may soon see their continuing education (CE) requirements change to match FINRA’s requirements for others in the securities industry. The MSRB is awaiting final SEC approval for a package of rule changes that could become official as soon as September 30th.

The MSRB’s action was prompted by changes FINRA made to the CE requirements for other securities professionals. The MSRB rule changes will harmonize its CE requirements with the new FINRA requirements.

Both the MSRB and FINRA divide CE into two components, both of which must be completed in order to keep your registration active. The first component is a Regulatory Element provided by the MSRB or FINRA. The second component is a Firm Element, which firms are responsible for providing to their associated persons.

The most important changes to the MSRB’s CE requirements will include:
  • Annual Regulatory Element. Currently, the Regulatory Element of CE must be completed within two years of becoming registered, and every three years thereafter. Beginning in 2023, the Regulatory Element will need to be completed annually.
  • More Ways to Complete Firm Element. Beginning in 2023, other training may count toward satisfying the annual Firm Element, such as anti-money laundering training and annual compliance meetings.
  • Permissively Registered Persons Subject to Firm Element. Like FINRA, the MSRB will remove exemptions from the Firm Element. Beginning in 2023, any registered person must complete the Firm Element each year, including those taking advantage of permissive registration. (Permissive registration allows an employee of a municipal firm to earn and maintain a registration that does not correspond to their current job.)
  • Maintaining Qualifications Program. The rule changes will create an MSRB version of FINRA’s Maintaining Qualifications Program (MQP). Previously, a registered person who left the industry for more than two years would need to retake their qualification exams in order to resume their previous registration. The MQP permits registered persons to leave the industry for up to five years without losing these qualifications, provided that they complete CE.

Keep up on the latest industry developments with Solomon Exam Prep. Subscribe to Solomon News to be notified when a new post is published.

Solomon Exam Prep has helped thousands pass their MSRB exams, including the Series 50, Series 51, Series 52, Series 53, and Series 54. Explore Solomon’s innovative study materials at the link below.

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Audiobook Study Guide for the Series 52 Exam Now Available

An audiobook version of the Solomon Exam Prep Series 52 Study Guide is now available for the first time for professionals studying for the MSRB Series 52 exam. Continue reading

Solomon Exam Prep has just released the Solomon Series 52 Audiobook, which is a word-for-word reading of the Solomon Exam Prep Series 52 Study Guide, 5th Edition. This is the first Audiobook for the Series 52 from Solomon. With the Series 52 Audiobook, you have greater flexibility in where and how you study for the Series 52 exam.

The MSRB Municipal Securities Representative Qualification Exam (Series 52), qualifies you to work in many capacities related to municipal securities such as selling, underwriting, trading, advising, conducting research, and communicating with public investors. Therefore, to prepare for the Series 52 exam, you must study a wide range of municipal securities knowledge.

Since the Audiobook is a verbatim reading of the 5th edition of the comprehensive Solomon Exam Prep Series 52 Study Guide, it provides another effective way to learn the Series 52 material. The audiobook can be used in tandem with the Solomon Series 52 Study Guide and/or Exam Simulator to create a rich study experience benefiting a variety of learners.

The Benefits of Audiobooks

Jeremy Solomon, Solomon Exam Prep President and Co-founder, points out that for people who find reading challenging because of learning disorders, vision impairments, or some other cause, it can be easier and more enjoyable to learn by listening.

“Besides the advantage of being able to learn on the go, listening to an audiobook version of their Solomon Study Guide can benefit our customers in many ways.”
Jeremy Solomon
Solomon Exam Prep President and Co-founder

Curious about the many benefits of Solomon Audiobooks? Check out our blog post to read more: “Study Tip for Securities Licensing Exams: Learn by Listening.”

Series 52 Study Materials

The 10-hour Solomon Series 52 Audiobook can be purchased individually or as part of a study package, along with the Solomon Series 52 Study Guide and Exam Simulator. The Audiobook is streamable via the Solomon website or free Solomon app for Apple and Android devices. You can also download the tracks to play them offline.

To learn more about Solomon Exam Prep’s Series 52 study materials, including Study Guide, Exam Simulator, and Audiobook, visit the Solomon Series 52 product page.

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Want to become an Investment Banker? Solomon Series 79 Study Guide, 6th Edition, Now Available

The updated 6th edition of the Solomon Series 79 Study Guide covers everything you need to know to pass the FINRA Series 79 exam. Continue reading

If you’re considering an entry-level position as an investment banking representative, you’ll need to pass the FINRA Investment Banking Representative Qualification Exam, also known as the Series 79. Although the Series 79 exam is less than half the length it once was (75 questions instead of 175), it’s still known to be a difficult exam. How should you prepare for it?

Solomon Exam Prep has just released the 6th edition of “The Solomon Exam Prep Guide: Series 79 FINRA Investment Banking Representative Qualification Examination.” With this new edition of the Study Guide, professionals who want to become registered Investment Banking Representatives can learn the content they need to know to pass the Series 79 exam. Passing the Series 79, along with the co-requisite Securities Industry Essentials (SIE) Exam, qualifies an individual to advise on and/or facilitate the following:

    • Debt and equity offerings (private placement or public offering)
    • Mergers and acquisitions
    • Tender offers
    • Financial restructurings
    • Asset sales
    • Divestitures or other corporate reorganizations

About the Series 79 Exam

The Series 79 is designed for junior-level bankers, but it’s a challenging exam that requires candidates to master complex subject matter. The Series 79 exam assumes a knowledge of financial accounting and the three basic financial statements: the P&L, the balance sheet, and the cash flow statement. Exam topics are divided into the three major job functions of an investment banking representative:

    • Function 1: Collection, Analysis, and Evaluation of Data
    • Function 2: Underwriting/New Financing Transaction, Types of Offerings and Registration of Securities
    • Function 3: Mergers and Acquisitions, Tender Offers and Financial Restructuring Transaction

To help prepare candidates for this exam, the Solomon Series 79 Study Guide is continually kept up to date to reflect current rules and regulations, and it covers all key exam topics. Charts, graphs, and practice questions throughout the text support learners in understanding and applying important concepts.

What changes with this new edition?

The core content of the Series 79 Study Guide remains the same, but some important changes include:

    • Expanded coverage of special purpose acquisition companies (SPACs), an increasingly popular method to fund acquisitions
    • Extensive explanation of leveraged buyouts
    • Coverage of the SEC’s recently revised list of persons who qualify as accredited investors
    • Added material on research analysts throughout discussion of the offering process
    • Expanded overview of the registration process
    • Discussion of SEC Rule 152
    • Expanded coverage of the rules around tender offers and stock buybacks
    • Coverage of new rules easing restrictions on testing the waters with potential investors
    • New sections on IPO Dutch auctions and tender offer Dutch auctions
    • Information about the SEC’s new, higher exempt offering dollar caps
    • Updated and expanded explanation of crowdfunding
    • Extensive coverage of Regulation Best Interest and the new suitability requirements it imposes on broker-dealers
    • Revised and expanded bankruptcy chapter

Content updates for this new edition of the Solomon Series 79 Study Guide are also reflected in the Solomon Series 79 Exam Simulator. The Exam Simulator complements the Study Guide with over 1,900 practice questions for the Series 79. Hone, track, and assess your knowledge by taking unlimited chapter quizzes and full exams to practice what you’ve learned.

“I felt well prepared. [My Series 79] exam experience went well. The Solomon exam prep content was spot on! I had studied previously under a different exam prep course and felt the content was not doing the trick. I was not prepared and needed to rethink my study approach. Luckily after taking the Solomon course, I felt completely different and very prepared! The dashboard, lectures and specific detail to the areas where I needed improvement helped me pass the test! I felt so confident thanks to the preparation process and content Solomon provided. Thank you!! It was a great experience preparing with Solomon!”
Brady Johnson
Herbert J. Sims & Co., Inc., Fairfield, CT

Series 79 Study Materials

The 6th edition of the Solomon Series 79 Study Guide is available as a digital subscription with a hardcopy upgrade option. You can purchase the Solomon Series 79 Study Guide individually or in a package with supporting Series 79 study products. Customers also have access to free tools and resources, including a study schedule in digital and pdf formats, which helps you master the exam material with maximum efficiency.

To learn more about Solomon Exam Prep’s Series 79 study materials, including Study Guide, Exam Simulator, Audiobook, Video Lecture, and Flashcards, visit the Solomon Series 79 product page.

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Arkansas Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Arkansas must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Arkansas is the latest jurisdiction to finalize adoption of NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The CE requirement will go into effect for IARs registered in Arkansas on January 1, 2023. Kentucky, Michigan, Oklahoma, Washington, D.C., and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement went into effect in 2022 in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of this year.

Nevada and Rhode Island are also planning to adopt the IAR CE requirement. If these states finalize adoption by the end of 2022, then the requirement will begin in 2023.

According to the NASAA model rule, IARs registered in jurisdictions that have adopted the CE requirement must complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category, with at least three of these being Ethics.

To fulfill the IAR CE requirement, courses must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in the Solomon IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Grace Period for MSRB Principal Exams Ends December 27th

The MSRB has announced the end of a COVID-related grace period allowing municipal principals to delay taking their qualification exams. Continue reading

The MSRB has announced the end of a COVID-related grace period allowing municipal principals to delay taking their qualification exams.

When testing centers closed at the start of the COVID pandemic, the MSRB granted temporary relief from the exam requirement for Municipal Securities Principals (Series 53), Municipal Fund Securities Limited Principals (Series 51), and Municipal Securities Sales Principals (Series 9/10). Representatives with at least 18 months’ relevant experience could be promoted to one of these principal positions while deferring their principal exams.

With the ending of the grace period, municipal principals must pass their principal exams by December 27th in order to continue functioning as principals.

A similar grace period for Municipal Advisor Principals (Series 54) ended late last year. Read Solomon’s August 2, 2021 blog post to learn more.

Solomon Exam Prep has helped hundreds pass MSRB exams, including the Series 51 and Series 53. Explore Solomon’s innovative exam prep materials by clicking the link below.

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Sexual Harassment IAR CE Course Now Available

Solomon has added another Ethics and Professional Responsibility course for Investment Adviser Representatives to complete their annual IAR CE requirement. Continue reading

Solomon Exam Prep has just added a new course to its Investment Adviser Representative Continuing Education course library. The course, “Sexual Harassment: Creating a Safe Work Environment,” has been approved by NASAA and earns credit towards the new CE requirement for investment adviser representatives (IARs).

“The Sexual Harassment: Creating a Safe Work Environment course was created in direct response to requests from Solomon investment adviser customers. Solomon is pleased to be able to meet the demand for this important CE topic.”
Jeremy Solomon
Solomon Exam Prep President & Co-founder

About the Course

Employers are responsible for creating work environments where employees are safe and free from sexual harassment. Employees must also understand what sexual harassment is so that they can recognize and prevent it.

This course defines sexual harassment and provides examples that will help you learn to recognize it in the workplace. You’ll learn about the history and legal foundation of modern sexual harassment law. This includes a discussion of power dynamics and the role of gender identity. The course then introduces you to both traditional and alternative approaches to handling workplace harassment. Finally, you’ll learn about IAR disclosure requirements regarding sexual harassment and get tips for safely navigating the digital workplace.

By the end of the course, you’ll be able to do the following:
  • Define sexual harassment, recognize the two most common forms of sexual harassment, and be able to identify a variety of unacceptable workplace behaviors
  • Describe how power dynamics can be involved in sexual harassment
  • Identify different sexual harassment prevention techniques
  • Identify methods that have been shown to improve worker satisfaction regarding sexual harassment issues
  • Know the disclosure obligations of IARs with respect to sexual harassment and sexual assault
  • Identify several ways to make digital workplaces safer for all workers

The Solomon Sexual Harassment CE course is worth one credit for the Ethics and Professional Responsibility category and falls within the Ethics sub-category. IARs must complete six credits of Ethics and Professional Responsibility courses each year, with three of these being Ethics courses. The other six of the 12 required IAR CE credits must be in the Products and Practices category.

About Solomon IAR CE courses

Solomon’s online IAR CE courses are self-paced and accessible on any internet-enabled device. Each course consists of short reading passages followed by quick assessments of 2–4 questions each. This read-and-quiz format facilitates learning and retention.

All Solomon IAR CE courses earn credit towards the Products and Practices, or the Ethics and Professional Responsibility, categories required by NASAA. Once you begin a course, you have up to 365 days to complete it. When you finish a course, Solomon reports completion to FINRA, NASAA’s vendor for program tracking.

What is the IAR CE requirement?

Investment Adviser Representatives registered in a jurisdiction that has adopted and implemented the NASAA model rule must do annual continuing education. To fulfill the IAR CE requirement, IARs must complete 12 credits of continuing education each calendar year.

To learn more about the IAR CE requirement, visit the Solomon IAR CE FAQs page. Explore Solomon’s entire IAR CE course library – purchase individual courses or a membership to the whole library and complete all your IAR CE in one place.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Washington DC Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Washington DC must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Washington, DC is the most recent jurisdiction to adopt NASAA’s new investment adviser representative continuing education  (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in the District of Columbia on January 1, 2023. Kentucky, Michigan, Oklahoma, and Wisconsin will also begin implementing the requirement in 2023. 

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, and Rhode Island have begun the process to adopt the IAR CE requirement. If these states finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Oklahoma Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Oklahoma must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Oklahoma is the most recent state to adopt NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in Oklahoma on January 1, 2023. Kentucky, Michigan, and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, Rhode Island, and Washington D.C. have begun the process to adopt the IAR CE requirement. If these jurisdictions finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.