EXAM PASS

Series 24 Exam Question

2012-01-16T08:47:00.000-08:00

Here is a great series 24 exam question regarding electronic communications between departments at FINRA member firms.

Regarding electronic communications between a firm's research department and non-research departments all of the following are true except:

A) Pre- approval of FINRA is required
B) Pre-approval by the principal is required for certain public communications
C) Copies of the electronic communications must sent to the firm's legal department
D) Copies of the electronic communications must be sent to the firm's compliance department

A) Both the NYSE and FINRA rules require that electronic communications between the research and non-research departments be copied to the firm's legal and compliance departments. Additionally, the principal is required to pre-approve all sales literature (eg: a research report). FINRA does not approve internal communications, advertising or sales literature.

take some free series 24 exam questions on our site at:

http://www.securitiesce.com/web/pages/series24/index.php

Series 7 Exam Question

2012-01-10T17:49:00.000-08:00

While there are not a large number of margin questions on the series 7 exam, students must be able to answer them correctly to help ensure passing the exam. Here is a typical series 7 margin question:

An investor has an open margin account with $48,000 in market value and a debit balance of $10,000. His minimum equity at this level is:

(A) $24,000

(B) $12,000

(C) $13,333

(D) $10,000

(B) To find the minimum equity given a long market value, simply multiply the market value by .25 in this case $48,000 X. 25 = $12,000. Therefore the customer must have at least $12,000 in equity to hold a position with a long market value of $48,000. This investor has $38,000 in equity.

Take some free series 7 exam questions on our site at:

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Series 7 Exam Tip

2011-12-17T09:42:00.000-08:00

Collateralized debt obligations or CDOs are securities backed by pools of underlying debt instruments. Similar to collateralized mortgage obligations or CMOs, CDOs represent an interest in the underlying pool of of securities and can be back by such things as a pool of auto loans or credit card debt portfolios. As the owners of the automobiles and holders of credit cards with an outstanding balance make payments, the payments flow into the underlying pool and are then distributed on a predetermined basis to the holders of the CDOS. CDOs are generally to sophisticated for individual investors and are more appropriate for institutional investors such as hedge funds and other large investors who can understand the risks associated with the underlying portfolios. Take some free series 7 exam questions on our site at:

http://www.securitiesce.com/web/pages/series7/index.php

Series 7 Exam Question

2011-12-12T21:50:00.000-08:00

We have been asked a number of questions lately regarding so called "dark pools". Dark pools are alternative trading venues or systems where large institutions can execute orders anonymously without divulging to the general market the fact that the institution is buying or selling the security in question. These systems have allowed the institutions to purchase or sell securities without impacting the market price for the security as a result of the market watching the institution's orders being entered in a traditional market place such as the NASDAQ or the NYSE. Regulation ATS has required many of these alternative trading systems to register as broker dealers or ECNs.

Take some free series 7 exam questions on our site at:

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10% off All Securities Exam Prep Products for Cyber Monday

2011-11-28T07:42:00.001-08:00

Get 10% off All Securities Exam Prep Products for Cyber Monday by calling The Securities Institute at:
877 218 1776. 24 Hours Only !!!!!!!!

New Series 7 Exam

2011-11-07T10:30:00.000-08:00

The new series 7 exam is effective today 11/7/11. Series 7 exam candidates will now be required to correctly answer 180 of the 250 exam questions for an over all score of 72%. The Securities Institute has updated our series 7 textbook, series 7 exam questions, and series 7 video to reflect the new series 7 exam.

Take some free series 7 exam questions on our site at:

http://www.securitiesce.com/web/pages/series7/index.php

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Series 7 Exam Topic

2011-10-28T11:47:00.000-07:00

Business Continuity and Disaster Recovery Plan

One of the regulations developed as a result of the attack on 9/11 is the requirement for FINRA member firms to develop and maintain plans and back up facilities to ensure that the firm can meet its obligations to its customers and counterparties in the event that its main facilities are damaged, destroyed or are inaccessible. The plan must provide for alternative means of communication as well as data backup. The Plan must be approved by a senior member of the firm’s management team and must provide plans to ensure customers have access to their funds. The plan must be provided to FINRA upon request and must identify two members of senior management as emergency contacts, one of which must be a registered principal with the firm.

Take some free series 7 exam questions on our site at;

http://www.securitiesce.com/web/pages/series7/index.php

Series 4 Exam - Weekly Options

2011-10-22T07:36:00.000-07:00

The CBOE has introduced weekly options designed to provide investors with the ability to speculate on the direction of a stock or index based on the release of pending news such as an earnings release or an announcement from the Federal Reserve board relating to an interest rate decision. Weekly options will also allow investors who are long or short to hedge their positions for only the period of time that includes the pending news release. As such the investor will be able to buy the hedge at a much lower premium due to the extremely short time frame of the option. Weekly options are listed on Thursday and expire the following Friday. New weeklys are listed each week however no new weeklys are listed that would expire during the expiration week for standard options (the third Friday of each month)

Take some Free Series 4 exam Questions on our site at :

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Single stock circuit breakers

2011-10-07T10:38:00.000-07:00

U.S. stock exchange that lists a stock is required to issue a trading “pause” in a stock if the stock price moves up or down by 10% or more in a five-minute period. The same pause will be in effect on all other U.S. stock and stock option markets, and the single-stock futures market, resulting in a uniform halt. After five minutes, the exchange that issued the pause may extend it if there are still significant imbalances between orders to buy and sell shares of the affected stock. After a ten-minute pause, other exchanges are free to resume trading in the stock and once that occurs, trading may resume in the over-the-counter markets.

To avoid potential disruption to market openings and closings (which already have special procedures designed to maintain fair and orderly markets), the individual stock circuit-breakers are in effect from 9:45 a.m. Eastern Time until 3:35 p.m. Eastern Time. They do not apply to after-hours trading. On days when the markets close early, the individual stock circuit breakers are in effect until 25 minutes before the close of the markets, for example, until 1:35 p.m. if the markets are closing at 2:00 p.m.

take some free series 55 exam questions on our site at:

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The Securities Institute of America Introduces Dynamic Online Testing & Social Learning

2011-09-13T18:00:00.000-07:00

The Securities Institute introduces new online exam software with customizable test criteria, social peer to peer learning in live online study groups, and real time tracking and reporting for managers and training directors.

Exam Customization

Students can select topics, areas of focus, and number of questions for their practice tests
Options include questions not previously seen or questions previously answered incorrectly
Students can choose how answers are revealed

Social Learning

Students who are preparing for their securities licensing exams using our online exam prep software can join live study groups while taking practice questions to discuss exam topics, exam questions, and test taking strategies Live 24 x 7
Students can also get live help directly from an instructor when available

Test, Track & Interact

Students may take practice exams using any PC, MAC, iPhone, iPad, Blackberry or Android device
Managers and Training Directors can interact live online with their agents and can schedule, manage, and lead live group study sessions
Managers and Training Directors can view real time dynamic reports on their agents’ progress

The Securities Institute of America is extremely pleased to introduce the next generation of world class exam prep software for securities industry professionals who need to complete their securities pre-licensing exams. Our new online exam prep software is the most advanced and dynamic online exam prep product offered in the market today. Students preparing for exams can create fully randomized tests by selecting the topics, number of questions, as well as how and when answers are revealed. The software has many additional levels of customization to allow students to further refine their testing options and area of focus. Once the students are confident in their knowledge of the material, they may move on to fully randomized final exams created by our software system. This is a huge improvement upon the static online exams currently available. No other exam prep solution offers such dynamic customization, and no other software will provide you with this level of exam preparation.

For over 15 years, The Securities Institute has been the leading developer of exam training technology for the securities industry. We are committed to providing the most updated material available, and are continually developing new and innovative ways to meet our students' exam preparation needs. Visit us today at http://www.securitiesce.com/, or give us a call at 877-218-1776.

Series 7 Exam Passing Score to Increase to 72%

2011-09-08T10:17:00.000-07:00

The Securities Institute has received notice from FINRA that effective 11/7/11 the passing score for the series 7 exam will be increased to 72% from 70%. The exam topics and focus of the questions will be altered as follows:

Seeks Business for the Broker-Dealer through Customers and Potential Customers

Exam weight 27%

Number of Questions 68

Evaluates Customers’ Other Security Holdings, Financial Situation and Needs, Financial Status, Tax Status, and Investment Objectives

Exam weight 11%

Number of Questions 27

Opens Accounts, Transfers Assets, and Maintains Appropriate Account Records

Exam weight 11%

Number of Questions 27

Provides Customers with Information on Investments and Makes Suitable Recommendations

Exam weight2 8%

Number of Questions 70

Obtains and Verifies Customer’s Purchase and Sales Instructions, Enters Orders, and Follows Up

Exam weight 23%

Number of Questions 58

TOTAL 100% 250 questions

While we are not expecting a large change in the material being testing we do encourage people who are planning on taking the test to take it prior to the change as a higher passing score will make the exam harder to pass.

Take some free series 7 exam questions on our site at http://www.securitiesce.com/

FINRA'S New Fees For Changing or Canceling a Securities Exam

2011-08-19T10:50:00.001-07:00

FINRA has published the following fees for test takers who change or cancel their exams between 3- 10 days of their test date:

Series 3 Exam
National Commodity Futures (CR)
Fee $52.50

Series 4 Exam
Registered Options Principal (OP)
Fee $45.00

Series 6 Exam
Investment Company Products/Variable Contracts Representative (IR)

Fee $42.50

Series 7 Exam
General Securities Representative (GS)

Fee $132.50

Series 9 Exam
General Securities Sales Supervisor Options Module (SU)

Fee $35.00

Series 10 Exam
General Securities Sales Supervisor General Module (SU)

Fee $55.00

Series 11 Exam
Assistant Representative-Order Processing (AR)

Fee $35.00

Series 14 Exam
Compliance Officer (NYSE-CO)

Fee $160.00

Series 16 Exam
Supervisory Analyst (NYSE-SA) [one or two parts depending on NYSE requirements]

Fee $52.50

Series 17 Exam
Limited Registered Representative (IE)

Fee $35.00

Series 22 Exam
Direct Participation Programs Representative (DR)

Fee $42.50

Series 23 Exam
General Securities Principal Sales Supervisor Module (GP)

Fee $42.50

Series 24 Exam
General Securities Principal (GP)

Fee $52.50

Series 26 Exam
Investment Company Products/Variable Contracts (IP)

Fee $42.50

Series 27 Exam
Financial and Operations Principal (FN)

Fee $52.50

Series 28 Exam
Introducing Broker/Dealer Financial and Operations Principal (FI)

Fee $42.50

Series 30 Exam
Branch Managers Examination - Futures

Fee $35.00

Series 31 Exam
Futures Managed Funds Examination

Fee $35.00

Series 32 Exam
Limited Futures Exam-Regulations

Fee $35.00

Series 34 Exam
Retail Off-Exchange Forex Examination

Fee $35.00

Series 37 Exam
Canada Module of S7 (CD) [Options Required]

Fee $80.00

Series 38 Exam
Canada Module of S7 (CN) [No Options Required]

Fee $80.00

Series 55 Exam
Limited Representative-Equity Trader Examination (ET)

Fee $47.50

Series 56 Exam
Proprietary Trader Examination (PT)

Fee $40.00

Series 62 Exam
Corporate Securities Limited Representative (CS)

Fee $40.00

Series 63 Exam
Uniform Securities Agent State Law Exam (AG)

Fee $48.00

Series 65 Exam
NASAA-Investment Advisors Law Exam (RA)

Fee $67.50

Series 66 Exa
NASAA-Uniform Combined State Law Exam (AG and/or RA)

Fee $64.00

Series 72 Exam
Government Securities Representative (RG)

Fee $47.50

Series 79 Exam
Limited Representative - Investment Banking (IB)

Fee$132.50

Series 82 Exam
Limited Representative-Private Securities Offerings (PR)

Fee $40.00

Series 86 Exam
Research Analyst (RS) Part I Analysis Module

Fee $80.00

Series 65 Exam Concept

2011-08-15T11:47:00.000-07:00

Here is an example of how to calculate the future value of a sum of money invested today at a specified rate of return. It is helpful when planing for a future expense such as retirement or college expenses.

The formula is as follows:
T
FV = PV (1 + R)

FV = Future Value
PV = Present Value
R = Interest rate
T = The number of compounding periods for which the money will be invested

Example:

FV = ?
PV = $1,000
R = 5%
T = 5 years compounded annually
5
FV = $1,000 (1 +.05)
FV = $1,000 (1.276)

FV = $1,276

10
FV = $1,000 (1 +.025)
FV = $1,000 (1.28)

FV = $1,280

Should I take The Series 65 or Series 66 Exam ?

2011-08-05T10:49:00.000-07:00

Many students wrestle with this question. The series 66 combines both the series 63 and series 65 registration. However, the passing score for the series 66 is 75% while the passing score for the series 65 is 72%. If you already have your series 63 registration the series 65 is definitely the way to go. Additionally if you live in a state that does not require the series 63 the series 65 is again the way to go. Keep in mind that the series 7 is the co requisite for the series 66. That is you can not conduct any business after passing the series 66 without passing the series 7 as well. Take some free series 65 test questions on our site at:

http://www.securitiesce.com/web/pages/series65/index.php

SIPC Changes Coverage For Cash Held In Brokerage Accounts

2011-08-01T07:36:00.000-07:00

SIPC has increased the amount of coverage for cash held in brokerage accounts from $100,000 to $250,000. Overall SIPC coverage remains unchanged at $500,000 per separate customer.

Series 6, Series 7, Series 24, and Series 62 test takers should be aware of the change to coverage.

Take some free exam questions on our site at: www.securitiesce.com

FINRA Considers Changes to Fees and Window To Cancel Exams and CE

2011-07-26T10:10:00.000-07:00

Proposed Rule Change Regarding Cancellation or Rescheduling Fees for Qualification Examinations and Continuing Education Sessions

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend Section 4(c) of Schedule A to the FINRA By-Laws to address cancellation/rescheduling fees for qualification examinations and continuing education sessions. Specifically, the proposed rule change would (1) establish a fee for individuals who cancel or reschedule a qualification examination or Regulatory Element Continuing Education (“Regulatory Element”) session three to ten business days prior to the appointment date, and (2) add a reference to the fee for individuals who fail to timely appear for a scheduled Regulatory Element session or who cancel or reschedule such a session within two business days prior to the appointment date.

Visit The Securities Institute online at: www.securitiesce.com

Series 7 Exam Update

2011-07-21T08:04:00.000-07:00

Series 7 Test takers should be aware that trades must now be reported to the tape within 30 seconds. This is a change from the previous requirement of 90 seconds.Take some free series 7 questions on our site at:

http://www.securitiesce.com/web/pages/series7/index.php

Series 7 Exam Update

2011-07-20T09:15:00.000-07:00

Series 7 Test takers should be aware that trades must now be reported to the tape within 30 seconds. This is a change from the previous requirement of 90 seconds.

Take some free series 7 questions on our site at:

http://www.securitiesce.com/web/pages/series7/index.php

Series 7 Exam - Series 7 Exam Question

2011-06-24T11:16:00.000-07:00

Here is a great option question for the series 7 exam.

A US importer is buying $10,000,000 worth of goods from a Japanese manufacturer. The payment will be made 6 months from now in Japanese Yen. To hedge themselves the US importer would do which of the following ?

A) Buy puts on the US dollar
B) Buy calls on the US dollar
C) Buy Puts on the Japanese Yen
D) Buy Calls on the Japanese Yen

Take some Free series 7 questions on our site at:

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D) US importers will always buy calls on the foreign currency to hedge themselves. The Dollar based answer is always wrong. There are no options trading on the US dollar in the US.

Series 4 Exam - Series 4 Exam Training

2011-01-10T11:47:00.000-08:00

The Securities Institute of America is extremely pleased to introduce a world class training solution for securities industry professionals who need to complete the Series 4 exam to qualify as a Registered Options Principal. The Securities Institute is committed to providing the most updated material available. We continuously update our products and are constantly working on developing new and innovative ways to meet our students' exam preparation needs.

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Comprehensive Series 4 Perfect Bound Textbook
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Series 65 Exam Training Series 65 Exam Topic

2010-07-19T13:10:00.000-07:00

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that establishes legal and operational guidelines for private pension and employee benefit plans. Not all decisions directly involving a plan, even when made by a fiduciary, are subject to ERISA’s fiduciary rules. These decisions are business judgment type decisions and are commonly called “settlor” functions. This caveat is sometimes referred to as the “business decision” exception to ERISA’s fiduciary rules. Under this concept, even though the employer is the plan sponsor and administrator, it will not be considered as acting in a fiduciary capacity when creating, amending or terminating a plan. Among the decisions which would be considered settlor functions are:

Choosing the type of plan, or options in the plan;
Amending a plan, including changing or eliminating plan options;
Requiring employee contributions or changing the level of employee contributions;
Terminating a plan, or part of a plan, including terminating or amending as part of a bankruptcy process.

take some free series 65 exam questons on our site at:

http://www.securitiesce.com/web/pages/series65/index.php

Free Series 66 Audio Book – Free Series 66 Exam Prep

2010-04-19T18:45:00.000-07:00

The Securities Institute of America is extremely pleased to introduce a new world class solution for securities industry professionals who need to complete the series 66 exam. Our new Series 66 Audio Books are truly an amazing leaning tool. Students listen to studio quality audio books from any Ipod or computer with Itunes. And best of all it is Free with our complete self study solutions. To learn more visit our website at:

http://www.securitiesce.com/web/pages/series66/index.php

Free Series 65 Audio Book – Free Series 65 Exam Prep

2010-04-19T18:42:00.000-07:00

The Securities Institute of America is extremely pleased to introduce a new world class solution for securities industry professionals who need to complete the series 65 exam. Our new Series 65 Audio Books are truly an amazing leaning tool. Students listen to studio quality audio books from any Ipod or computer with Itunes. And best of all it is Free with our complete self study solutions. To learn more visit our website at:

http://www.securitiesce.com/web/pages/series65/index.php

Free Series 63 Audio Book – Free Series 63 Exam Prep

2010-04-19T18:39:00.000-07:00

The Securities Institute of America is extremely pleased to introduce a new world class solution for securities industry professionals who need to complete the series 63 exam. Our new Series 63 Audio Books are truly an amazing leaning tool. Students listen to studio quality audio books from any Ipod or computer with Itunes. And best of all it is Free with our complete self study solutions. To learn more visit our website at:

http://www.securitiesce.com/web/pages/series63/index.php

Free Series 26 Audio Book – Free Series 26 Exam Prep

2010-04-19T18:36:00.000-07:00

The Securities Institute of America is extremely pleased to introduce a new world class solution for securities industry professionals who need to complete the series 26 exam. Our new Series 26 Audio Books are truly an amazing leaning tool. Students listen to studio quality audio books from any Ipod or computer with Itunes. And best of all it is Free with our complete self study solutions. To learn more visit our website at:
http://www.securitiesce.com/web/pages/series26/index.php