Series 57 Trader License
The series 57 is a 50 question multiple choice equity trader exam. THE TIME LENGTH OF THE TEST IS 105 MINUTES AND 70% is the passing grade to become licensed.
The Series 57 exam is used to test each person that they have the knowledge they need to execute the important tasks of a securities equity trader, including conducting trades in equity stock. This also includes preferred or convertible bonds into common stock that can be transacted on a registered securities exchange - proprietary trading.
Topics of the Exam Covered Include:
General Trading Practices
Order Types ie: Stop Orders, Limit Orders
Capital Market Access
Proper Customer Trading Transactions
Quotes and Trading Halts
Trade Volume Recognition and Advertisements
SEC Rules and Securities Acts - FINRA and Exchange Regulations
Equity and Debt Options Trading - Position Limits, Understanding Call and Put Option Risks
Maintaining Customers Records - Trading Transactions, Retaining and Record Keeping
Understanding Trade and Settlement Dates, and Handling Customer Confirmations
The Series 57 is the former Series 55 Exam - with certain changes implemented. All Training and Course material are designed with the current rules and regulations. Please contact us for more information on this licensing exam.
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