Series 22 — Direct Participation Programs Representative Exam

The FINRA Direct Participation Programs Representative Exam (Series 22) qualifies you to solicit and sell interests in Direct Participation Programs or DPPs, such as real estate, oil and gas, equipment leasing, BDCs, agricultural, and like-kind exchanges. To take the Series 22 exam, you must be employed and sponsored by a FINRA member firm. You must also pass the co-requisite Securities Industry Essentials (SIE) exam to obtain the Series 22 license. Read more Series 22 FAQs.

Solomon Exam Prep’s innovative study system has helped thousands pass their securities exams. Explore Solomon’s Series 22 study materials below and get started on your path to becoming a Direct Participation Programs Representative!

QUICK LOOK:

  • RECOMMENDED STUDY TIME: 60 hours
  • EXAM LENGTH: 55 questions
  • EXAM TIME: 1 hour & 30 minutes
  • PASSING SCORE: 70%
  • TAKING EXAM: Testing is done via Prometric
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ONLINE STUDY GUIDE

The Solomon Series 22 Study Guide, written in clear easy-to-understand language, contains the information you need to know to pass your exam. Comprehensive and continually updated, the Solomon Series 22 Study Guide has helped thousands pass their exam. The Study Guide contains charts, graphs and practice questions, as well as a glossary of key terms.


The Solomon Series 22 Study Guide, written in clear easy-to-understand language, contains the information you need to know to pass your exam. Comprehensive and continually updated, the Solomon Series 22 Study Guide has helped thousands pass their exam. The Study Guide contains charts, graphs and practice questions, as well as a glossary of key terms.

The Study Guide is available in your online Solomon account (this digital guide requires Internet connection and is not downloadable). If you would like a physical book, a hard copy upgrade is available (shipping & handling will apply) that contains the same content as the online edition in your Solomon account.

To view a sample click herePlease note: This is a pdf sample from the hard copy edition. If you want this look, you must purchase the hard copy upgrade.

Exam Simulator
EXAM SIMULATOR

Designed to work with the Solomon Series 22 Study Guide, the Solomon Series 22 Exam Simulator offers over 1,000 questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you’ve learned. 


Designed to work with the Solomon Series 22 Study Guide, the Solomon Series 22 Exam Simulator offers over 1,000 questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you’ve learned.

The 180-day subscription to the Solomon Series 22 Exam Simulator offers:

• Over 1,000 original Series 22 practice questions with robust rationales which clearly explain why a specific answer is correct.

• Questions updated continually to keep up with regulatory and industry changes

• Self-assessment tools that helps you identify areas that require more study.  

• An unlimited number of 10-question quizzes based on Series 22 exam topics

• An unlimited number of 55-question untimed practice exams with immediate answer feedback

• An unlimited number of 55-question timed practice exams

Exam simulator subscriptions are limited to one individual.

Sample a FREE demo of our Series 22 Online Exam Simulator here !
WHAT CUSTOMERS SAY ABOUT SOLOMON'S DIRECT PARTICIPATION PROGRAMS REPRESENTATIVE EXAM

Recently passed the FINRA Series 22 Exam. Though the exam is short, the material is obscure and not what you deal with every day in the industry. Solomon did a great job of putting together material and providing a deep understanding. After about 6 weeks of studying and taking 2 practice exams a day, I passed the exam on the first try! Thanks for putting together a robust training product.

Eric Stroehle, Steelwater Wealth Management. Oakville, CT

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Refine your Exam Simulator practice with detailed exam results. Solomon reports analyze which topics you’re strong in and which require more study so that you can focus your attention on the subjects that need your attention the most.
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"The Ask the Professor and live chat features were excellent!"

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STUDY SCHEDULES
Interactive online study schedules help you master the exam study material with maximum efficiency. Choose a study schedule based on your timeline and expected exam date. You can edit, delete, and check off completed items or create custom items. You’ll find detailed instructions for what to do every step of the way.
INTERACTIVE REVIEW
This Exam Simulator feature makes it easy to review the questions you’ve gotten wrong on quizzes and exams. The interactive review is untimed, ungraded and you receive immediate feedback on your answers.
FREQUENTLY ASKED QUESTIONS ABOUT THE SERIES 22
  • What does the Series 22 qualify me to do?

    The Series 22 Direct Participation Programs Limited Representative Exam (DR) qualifies individuals to become an entry-level registered representative as a direct participation programs representative. Individuals who pass the Series 22 may solicit and sell interests in DPPs (including real estate, oil and gas, equipment leasing, BDCs, agricultural, like-kind exchanges, etc).

  • What topics does the Series 22 exam test?

    The exam tests your knowledge of the four major job functions of a direct participation program representative:

    • Seeks Business for the Broker-dealer from Customers and Potential Customers (17 questions)
    • Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives (4 questions)
    • Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records (27 questions)
    • Obtains and Verifies Customers’ Purchase Instructions and Agreements; Processes, Completes and Confirms Transactions (2 questions)


  • Are there any prerequisites for the Series 22?

    The Securities Industry Essentials (SIE) exam is “corequisite” with the Series 22 exam, which means that you must pass both the SIE exam and the Series 22 exam to obtain the Direct Participation Programs Representative registration.

    If you need to take the SIE exam, check out Solomon Exam Prep SIE study materials.

  • What is a direct participation program (DPP)?

    A DPP is a special label that regulators give to businesses that:

    • Are set up as one of several types of entities that feature pass-through taxation (limited partnerships, for example);
    • Have mostly passive investors, which are investors that aren't actively involved in managing the business (the limited partners in a limited partnership, for example); and
    • Do not have any of their securities trading on a securities exchange.

    DPPs are most common in the real estate and oil & gas industries. Status as a DPP means that a business is subject to rules designed to protect DPP investors.

SERIES 22 PRODUCT SAMPLES

STUDY GUIDE

Guide Sample

EXAM SIMULATOR

Number of Questions10
Time DurationUntimed
Answer Feedback
Instant validation and rationale
Percentage required to pass70%
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