FINRA

First complete Series 79 practice exam available now!

Solomon Exam Prep has published the first complete 175 question practice exam for the FINRA Series 79 Limited Investment Banking Representative Exam. Continue reading

Solomon Exam Prep has published the first complete 175 question practice exam for the FINRA Series 79 Limited Investment Banking Representative Exam. Questions follow the format, proportion and four major content areas of the actual exam and were written by an experienced investment banker, practicing attorney and former hedge fund compliance director.

Series 79 Investment Banking Representative Classes

Recently we spoke to someone at FINRA about the new five-hour, 175 question Series 79 Investment Banking Representative exam, and while FINRA still Continue reading

Recently we spoke to someone at FINRA about the new five-hour, 175 question Series 79 Investment Banking Representative exam, and while FINRA still won’t divulge what a passing score for the exam is, their representative did tell us that a passing score on the Series 79 is in the “low seventies” like their other exams. This score “will fluctuate over time.” We have been told by someone who took the Series 79 exam and who has been in compliance for decades that it is “not an easy exam.”

If your firm has not created a Series 79 training program, contact Solomon Exam Prep to sign up for our exclusive Series 79 Investment Banking Representative licensing exam program offering live/interactive online classes, a Series 79 training book and a state-of-the-art practice question Series 79 exam simulator.

With decades of teaching experience and thousands of happy customers, our Wharton, University of Chicago, Yale and Harvard-educated staff will help your firm get Series 79 candidates licensed and on their way to making your firm money!

Contact Sara DeFilippi at 503-968-6777 for more information.

NASAA and FINRA raise the bar for the Series 65 and Series 66 Exams

Effective January 1, 2010, the NASAA and FINRA will raise the passing grade for the Series 65, Uniform Investment Adviser Law Examination, from 68.5% to Continue reading

Effective January 1, 2010, the NASAA and FINRA will raise the passing grade for the Series 65, Uniform Investment Adviser Law Examination, from 68.5% to 72% and for the Series 66, Uniform Combined State Law Examination, from 71% to 75%.

For more information see
NASAA Website

Series 79 Birthday!

According to FINRA: “Effective November 2, 2009, amendments to NASD Rules 1022 and 1032 require individuals whose activities are limited to Continue reading

November 2 is just around the corner.

According to FINRA: “Effective November 2, 2009, amendments to NASD Rules 1022 and 1032 require individuals whose activities are limited to investment banking and principals who supervise such activities to pass the new Limited Representative – Investment Banking Qualification Examination (Series 79 Exam). Individuals who are registered as a General Securities Representative (Series 7) and engage in the member firm’s investment banking business as described in NASD Rule 1032(i) may “opt in” to the new registration category.”

It’s interesting to note that at this time, FINRA has not announced what a passing score will be. “The passing score for the examination is the minimum number of test questions that a candidate has to answer correctly in order to pass the examination. The Committee, using a standard setting procedure, establishes the passing score for the examination. The passing score is an absolute standard and it is independent of the performance of candidates taking the examination. Since multiple forms of the examination will be administered, the passing score will fluctuate moderately from examination to examination.”

If your firm has not created a Series 79 training program, what can you do to get the new Investment Banking Representative registration?

As per FINRA Regulatory Notice 09-41: “during the six-month transition period (November 2, 2009 – May 3, 2010), new Investment Banking Representative candidates who are in the process of qualifying for the new Investment Banking Representative registration category can take either the Series 79, the Series 7 or a Series 7-equivalent exam. A candidate who takes and passes the Series 7 Exam or Series 7- equivalent exam could then opt in to the Investment Banking Representative registration.

“Series 7 equivalent exams” and registrations are the Limited Representative—Corporate Securities (Series 62), the United Kingdom (Series 17) or Canada (Series 37/38) Modules of the Series 7.