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

Discussion in 'Prop Firms' started by GHJK, Jul 7, 2011.

  1. GHJK


    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?
  2. T3TG


    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.

  3. 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.
  4. GHJK


    so if you fail this sucker, how long do you have to wait until you can retest?
  5. T3TG


    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.

  6. LEAPup


    This is true.
  7. Maverick74


    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?
  8. 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?
  9. LEAPup


    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.)
  10. 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.
    #10     Jul 7, 2011