Expired Series 7.... Do I have to take the 56?

So if I have an expired series 7, basically I didn't do the continuing education because I'm at a CBOE firm... Do I have to take the 56?

 

Apply for a waiver. I am in the same boat.... applied last week.... still haven't heard back. In the meantime I am studying my butt off... just in case.

 

If you didn't do the continuing education, you probably won't get the waiver. it's all about big brother watching you and collecting their fees.

 

so if you fail this sucker, how long do you have to wait until you can retest?

 

30 days after the first fail

60 after the second

180 after the third

the hard part is that there is no STC guide and the 59 pg outline is WAY too daunting. ask your complaince dept if they are putting together a study guide for their traders... ours is.

 

This is true.

 

I don't understand why you didn't do the continuing ed for the series 7. I'm at a CBOE firm and have a 7 and I always do the continuing ed. Why would you let your 7 lapse?

 

T3TG..
How much is T3 charging for their study material for the #56 test ?

Is that exclusive for their trader's Only? What's the scoop?

 

You can do the regulatory ce's, BUT if you haven't been with a member firm for two years, "FINE-YA" says you have to take the test over again if you want to again work for a member firm.

Doing the ce's would certainly help however, if your S7 were to lapse due to the two year rule in terms of waivers. (Would help show you are serious, giving you a "voice" over others who didn't do the ce's.)

 

If you don't pass this 56 test by Aug 12 your account will be Suspended.

For some traders .. Waiver ? Big maybe?

That is what is going to hurt everyone with deadline. No Trading ..

On top of that $ 195.00 Test Fee. Each time you take it.