Beware: New Series 55 format!

Discussion in 'Prop Firms' started by Croesus, Aug 2, 2002.

  1. Croesus


    Beware that a new format for the Series 55 exam went into effect YESTERDAY, August 1st, 2002, which lengthens the exam from 90 to 105 questions (5 experimental) and that the breakdown of the exam has changed to:

    Nasdaq and OTC Markets 45%
    Nasdaq Automated Execution and Trading Systems 9%
    Trade Reporting Requirements 18%
    General Industry Standards 28%

    Well, I discovered the "new and improved" exam by surprise this morning, when I failed it by 1 freakin' question. Yup, a 69%. I wasn't aware of the chenges in the exam, and if I was I probably would've passed it. Also, DO NOT study from a PassPerfect book. Get STC, PassPerfect didn't live up to its name in this case. So, does this mean I have to wait a month before taking it again?? What if I somehow fail the 2nd time?? Anyone? I'd appreciate some help/advice here.
  2. axehawk


    Thanks for the heads up. Have these companies updated their study material yet?
  3. MarkHyman

    MarkHyman Advanced Futures

    You have to wait 1 month before you can get another window
    for the exam.
  4. I just passed my series 7 and the 55 test materials are on their way to the crib. The materials i received were from stc. I was just wondering how much time should i study for the series 55. i studied the 7 material for about a month. Stc booklets were pretty good besides the fact that i had no f-ing clue on some of the questions. Thanks for the heads up on the change in the 55 test (probably another pointless test, but knowledge is invaluable so they say). thanx in advance and good luck next month.

  5. I wanted to revise this thread in case any of you are currently studying for the Series 55. I just took the test, and I passed it (74), but just barely. The test was surprisingly difficult. I assumed I was well prepared because I was consistently scoring in the mid 80s, and even a 94, on the practice exams. The real test is much harder. Study hard! You don't want to take this test more than once.

    Good Luck
  6. MarkHyman

    MarkHyman Advanced Futures

    I agree!

    Do not take this test lighty.

    More people have had trouble with the 55 than any of the other

    Study and Good Luck.
  7. rs7


    I thought the 55 was tough only because it is senseless. I took it the first time after just reading the material. Got a 60 or so.

    Then the second time I just did all the practice questions. Didn't understand shinola. But I got an 85.

    The series 7 makes sense. The knowledge you need to pass it makes some sense. The 55 is totally useless in the real world, and it just consists of ridiculous questions with answers like :

    A: 30 seconds
    B: 20 seconds
    C: 11 minutes
    D: 20 minutes

    When the real answer is
    E: who gives a shit?!

    It is all memorization. Don't bother trying to understand it. Our operations gal, who actually does the stuff on the test failed it the first time.

    I got a 90 on the series 7 studying in the car on the drive from Palm Beach to Orlando (about 3 hours)
    I got a 100 on the series 3 with about 1 hour of studying.
    I got a 90+ on the 63 with about 4 minutes of studying.

    The 55 is a killer. MEMORIZE the questions. Period.
  8. Vulva


    That's bull. You need at least 2 weeks to pass the 7. Any less is pure ridiculous (unless you already know the material...then you wouldn't have to study in the first place, right?)

    You're fooling no one with your attempt to "show off" how "smart" you are.
  9. Although I agree 3 hrs is probably BS...I watched my roommate study for two days the most 12 hrs. and pass with a 82. Just because you cant do it....doesn't mean its not possible.
  10. I only studied the Bonds and Options part for about a day.....never studied and the test date came up and I thought I would cram....I did not want to go take the test but my wife forced was the greatest pleasure when I passed with a 70!!!!

    I will actually study for the 55, it seems to have a little value compared to the 7.
    #10     Sep 14, 2002