Feel free to offer some comments. I hear that this exam can really be a "bitch". Is this true, compared to the series 7?
I scored 85% the first time on 55 exam. why you need a 55 exam doing day trading. 55 exam is only the people working on the trading desk in a broker to customer relationship. I know some prop firms required 55 just to weed out the unwanted "wanna-be-day traders". just have to read the materials and more importantly do the questions in the back of the materials over 3 times. Then, you should ace the exam. good luck testing....
Im taking the 55 this afternoon--sponsored by worldco.... I read and took the tests in the STC book and I was getting in the upper 60's the first time i took them. The problem is there are only 4 tests. Now when I went back to look at them I was remembering the answers. So.... I went on Dearborn's website and paid the $75 for their online test simulator. I took one of their practice tests and got a 62!!! There were many questions on their test about things I swear are not in the STC book (very nitpicky details). I have been studying like mad for since then (2 days a go) and I dont seem to be getting much better. I am pretty woried but it seems I am missing the questions because of very technical details---can anyone tell me if the STC or Dearborn tests are harder or easier than the real test?? I studied for the 7 for 3 1/2 weeks and got an 86 the first time. I was mor confident going in though because I was getting mid 70's in the STC book. Hopefully if im in the mid 60's Ill still pass???? thanks for any help!
I am almost positive this is not the case. You MUST have the 55 to trade OTC. I know for a fact that some traders at one firm, who have made at least one million dollars per year cannot trade OTC because they have not taken the 55 (and for whatever reason, choose not to). They cannot trade pre and post market NYSE stocks, because technically they are then trading Over The Counter.