Read the results of Solomon Exam Prep’s latest poll on the topic of cryptocurrency regulation – and learn which license you’d need for either outcome. Continue reading
With the regulatory status of Bitcoin and other cryptocurrencies still up in the air, a recent Solomon LinkedIn poll found that 60% of Solomon customers think cryptocurrencies should be treated as commodities, while 40% said they thought cryptocurrencies should be regulated as securities.
Thus far the SEC has avoided clearly stating that cryptocurrencies are securities. To do so, the SEC would likely have to show that cryptocurrencies meet the “Howey Test,” which says that securities must have four characteristics. According to this test, a security involves (1) an investment of money that (2) involves a common enterprise (3) in which the investors expect to make a profit, and (4) the profits will be derived from the efforts of someone other than the investor.
If the SEC, Congress, or the courts declare that cryptocurrencies meet the Howey Test and are therefore securities, Solomon’s got you covered with the Series 7 General Securities Representative Exam Guide. This FINRA license allows you to engage in “the solicitation, purchase and/or sale of all securities products.”
If cryptocurrencies don’t meet the Howey Test, they could be regulated as commodities. These are goods such as wheat, gold, and pork bellies. Why might cryptocurrencies fit in with these others? Because commodities are all highly standardized so that they can be freely bought and sold on exchanges without worrying about differences in quality—every ounce of gold is pretty much like every other ounce of gold. Likewise, every Bitcoin is like every other Bitcoin.
Watch the latest Solomon Exam Prep video for a complete look at the Solomon learning system and what it offers students and firms. Continue reading
Solomon Exam Prep has helped thousands of financial professionals pass their FINRA, NASAA, MSRB, and NFA licensing exams. Watch the video for a complete look at the Solomon learning system and what it offers students and firms.
To explore Solomon Exam Prep study materials for 21 different securities licensing exams, including the SIE and the Series 3, 6, 7, 14, 22, 24, 26, 27, 28, 50, 51, 52, 53, 54, 63, 65, 66, 79, 82, and 99, visit the Solomon website.
For those planning to sit for the National Commodity Futures Exam, or Series 3, FINRA is now offering candidates the option to take the exam online via Prometric’s ProProctor platform. Continue reading
For those planning to sit for the National Commodity Futures Exam, or Series 3, FINRA is now offering candidates the option to take the exam online via Prometric’s ProProctor platform.
Since mid-2020, FINRA has offered online delivery of certain securities exams via the ProProctor remote service, allowing you to choose where and when to take your exam.
The ProProctor platform features an easy-to-use interface and 24/7 proctor support for a smooth test-taking experience. But it’s a good idea to be aware of the technical and security requirements before sitting for your exam remotely.
In addition to the Series 3 and other NFA exams, these exams can be taken online: the Securities Industry Essentials (SIE), Series 6, Series 7, Series 63, Series 65, and Series 66 exams.
When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator? But life got in the way of your dream? Continue reading
“When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator?”
“But life got in the way of your dream?”
Good news! Solomon Exam Prep has just published study materials for the Series 3 – NFA National Commodities Futures Examination. A Series 3 license qualifies individuals to solicit customers, customer orders or customer funds on behalf of a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator. It also qualifies persons to supervise these individuals.
Solomon Exam Prep’s materials are thorough, covering every topic on the NFA outline. Chapters include:
1. Trading in Commodity Futures
2. Trading in Interest Rate Futures
3. Foreign Exchange Futures, Stock Futures, and Futures Spreads
4. Simple Options and the Futures Market
5. Hedging with Multiple Options
6. Futures Price and Market Analysis
7. Registration, Regulation and Disciplinary Procedures
With the Series 3 registration, you can offer investments in commodity and security futures. If you want to be a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity pool operator, commodity trading advisor, or leverage transaction merchant, the Series 3 is for you!
Solomon Exam Prep is known for easy-to-understand exam study guides, available in both digital and hard copy format. Solomon Exam Prep also offers an industry-leading online exam simulator! With unlimited chapter quizzes and practice exams and an original question bank of over 1,200 questions, there’s nothing better to study with. Get the exam study guide and online exam simulator together in Solomon Exam Prep’s Essentials package for 10% off!
With Solomon Exam Prep’s study materials, you can rocket into a bright future with futures!