Those people, who wish to take up stock brokering or security trading as their careers, need to pass the series 643 test.
This examination is governed by the Financial Industry Regulatory Authority (FINRA) for the North American Securities Administrators Association (NASAA). Once you pass this test, you can trade securities in whichever state you wish. This test consists of 65 questions that need to be completed in no more than 75 minutes. All of them are in multiple choice format. As of January 2010, a minimum passing score of 72 % has been set. It is anything but necessary, that candidates must prepare exhaustively before they sit for this test. This article will focus on the main steps towards the series 63 test prep.
This generally will mean that all owners and associated persons of a Forex investment firm will need to provide proof to the NFA that they meet the minimum proficiency requirements.
Test Breakdown -The Series 27 covers several main topic areas, they include:
Balance sheet and net capital.This section will cover computing a firm's net capital, understanding the rules and minimums of keeping minimum net capital, and understanding the balance sheet. It will also test the candidate on the effects of loans and securities on net capital and its effect on the balance sheet. This is the area that covers the most math on the test.
There are five major test areas: (1) Forex definitions and terminology, (2) Forex concepts, (3) Forex regulations (basically all applicable NFA regulations), (4) Forex trading calculations, and (5) Forex trading risks. There are additional important items within these concept areas which Forex managers will need to be familiar with and study prior to taking the exam.
Customer Protection and Notification -This section of the exam will test you on notifications, delivery of securities, and activities in the accounts of the firm's customers.
As the exam date approaches nearer, many people start losing their confidence especially when they don't follow a meticulous study plan. A candidate needs to prepare a study plan much before the exam date and that study plan should aim at covering all the topics that are asked in the test.
Preparation for the exam will be similar to how applicants prepare for the Series 34 exam.
That is, applicants will want to read some sort of study guide and will want to drill practice questions. It is also a good idea to make flashcards for increased study opportunities.
This examination is governed by the Financial Industry Regulatory Authority (FINRA) for the North American Securities Administrators Association (NASAA). Once you pass this test, you can trade securities in whichever state you wish. This test consists of 65 questions that need to be completed in no more than 75 minutes. All of them are in multiple choice format. As of January 2010, a minimum passing score of 72 % has been set. It is anything but necessary, that candidates must prepare exhaustively before they sit for this test. This article will focus on the main steps towards the series 63 test prep.
This generally will mean that all owners and associated persons of a Forex investment firm will need to provide proof to the NFA that they meet the minimum proficiency requirements.
Test Breakdown -The Series 27 covers several main topic areas, they include:
Balance sheet and net capital.This section will cover computing a firm's net capital, understanding the rules and minimums of keeping minimum net capital, and understanding the balance sheet. It will also test the candidate on the effects of loans and securities on net capital and its effect on the balance sheet. This is the area that covers the most math on the test.
There are five major test areas: (1) Forex definitions and terminology, (2) Forex concepts, (3) Forex regulations (basically all applicable NFA regulations), (4) Forex trading calculations, and (5) Forex trading risks. There are additional important items within these concept areas which Forex managers will need to be familiar with and study prior to taking the exam.
Customer Protection and Notification -This section of the exam will test you on notifications, delivery of securities, and activities in the accounts of the firm's customers.
As the exam date approaches nearer, many people start losing their confidence especially when they don't follow a meticulous study plan. A candidate needs to prepare a study plan much before the exam date and that study plan should aim at covering all the topics that are asked in the test.
Preparation for the exam will be similar to how applicants prepare for the Series 34 exam.
That is, applicants will want to read some sort of study guide and will want to drill practice questions. It is also a good idea to make flashcards for increased study opportunities.
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You can visit here for more details: FINRA Series 27 Exam Guide and FINRA Series 28 Exam Guide