If yes please share your method of studying and what material did you use. I failed twice and need to change my method of studying.
I guess all traders and Proprietary traders with capital contribution. From 2017 all financial engineering students who'll work with algorithmic trading.
1- How many hours did you study? 2-Did you take online practice exams or just the ones in the book at the end of each chapter? 3- Have you ever traded before or are you new to the markets?
1. Good 50-70 hours I'd say (since march) 2. Out of 1000 practice questions I did 1700. 3. Stocks and options. Profitable since last year. But exam is not about trading. It had only 4-5 questions related to options. Rest was all regulation questions. Online practice tests questions were nowhere near the real exam.
I disagree about the test questions. I took the 57 last May and there were probably 25 questions I knew the answer to just from trading since the 90's (got 90+ on the trading/order sections) It was the back office and regulatory nonsense that I had trouble with (got 60's and 70's on those sections). Added up to a 79 so all good lol. Use Knopman Marks material. Their online tests were vital to helping me pass.
I did use Knopman. I'm doing well on knopman online tests (I think I did it too much and by now memorized the answers) I ordered materials from another source - Securities Institute of America, published by Wiley. How it will help me. Exam is really no joke. BD gave me last try to take it. Did you just read the whole textbook?
One thing ive noticed with all these financial license tests, is if you just keep repeating the questions over and over at the end of the chapters, you will notice a pattern of certain concepts they really want you to know, they will ask you the same question in like 10 different ways, and when you see that you know its something they definitely want you knowing. Generally speaking the question on the test at the end ends up just being a remix of the ones they repeated over and over in the text book, maybe stated a little differently. I just studied by doing the questions online over and over and over until i had them all practically memorised. Ended up getting an 89 on the S7 like that and only opened my book about 2 weeks before the exam, but i had traded for 5 years before i wrote it so i knew alot of it.
You can't study this material over the course of two months and then take the test IMO. I studied for a week. Complete immersion, 8-10hours a day Friday to Friday and took the test on Saturday. Maybe that is just what worked for me, but I hadn't taken an exam in almost 2 decades so I figured I wouldn't retain much from weeks of studying a couple of hours a day.