Taking the Series 99 Exam
The Series 99 exam is presented in multiple-choice format on a touch-screen computer known as the PROCTOR system. No computer skills are required and candidates will find that the test screen works in the same way as an ordinary ATM machine. Each test is made up of 100 questions that are randomly chosen from a test bank of several thousand questions. The test has a time limit of two hours and 30 minutes, which is designed to provide enough time for all candidates to complete the exam. Each Series 99 exam will comprise questions that focus on the following areas:
Basic Knowledge Associated with the Securities Industry 32 Questions Basic knowledge Associated with Broker Dealer Operations 48 Questions
Professional Conduct and Ethical Considerations 20 Questions
|Exam Length||100 Questions|
|Time Limit||2 1/2 hours|
How to prepare for the Series 99 Exam
For most candidates, the combination of reading the textbook and taking practice questions proves to be sufficient to successfully complete the exam. It is recommended that the individual spend at least 50 to 60 hours preparing for the exam by reading the textbook, underlining key points, and answering as many practice questions as possible. We recommend that a student schedule their exam no more than one week after finishing their Series 99 preparation.
What type of positions may a Series 99 registered operations professional hold?
A Series 99 registered operations professional may act in the capacity of a covered person and may perform a variety of covered operation functions for a broker dealer.
What score is required to pass the exam?
A score of 68% or higher is needed to pass the Series 99 exam.
Are there any prerequisites for the Series 99?
There are no prerequisites for the series 99 exam.
How do I schedule an exam?
Ask your firm’s compliance department to schedule the exam for you or for a list of test centers in your area. You must be sponsored by a Financial Industry Regulatory Authority (FINRA) member firm, prior to making an appointment. The Series 99 exam may be taken any day that the exam center is open.
What must I take to the exam center?
A picture ID is required. All other materials will be provided, including a calculator and scratch paper.
How soon will I receive results of the exam?
The exam will be graded as soon as you answer your final question and hit the "Submit for Grading" button. It will take only a few minutes to get your results. Your grade will appear on the computer screen and you will be given a paper copy from the exam center.
· Read the full question before answering
· Identify what the question is asking
· Identify key words and phrases
· Watch out for hedge clauses, such as except and not
· Eliminate wrong answers
· Identify synonymous terms
· Be wary of changing answers
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