I passed

Discussion in 'Prop Firms' started by MoneyMatthew, Jun 21, 2012.

  1. whats the renewal fee?
    and if i leave the firm, does it expire?
    and if so, would i need to take the exam again if i were to join a firm later on?
    thanks
     
    #21     Jul 24, 2012
  2. Not sure about the renewal fee. The 56 lasts for two years since the day you pass.

    If you leave a firm, they will "U5" you which means you are free to join a firm later on, and go through the "U4" process again, without having to take the exam, as long as the license is active.
     
    #22     Jul 25, 2012
  3. jb3398

    jb3398

    The fact that you passed is your first step to financial independence. It means you can short most stocks, get awesome leverage and if you blow your account, you wont need $25K to PDT.
     
    #23     Aug 20, 2014
  4. jb3398

    jb3398

    EVO your right however with a license, you can trade with min capital and have great leverage.
     
    #24     Aug 20, 2014
    Alpha Trader likes this.
  5. aaverett

    aaverett

    #25     Aug 20, 2014
  6. howq does this compare to CFA level 2?
     
    #26     Aug 20, 2014
  7. rockn

    rockn

    I took it Saturday and failed with a 62. Kind of sucks, but I obviously didn't prepare enough. I actually saw this thread Thursday evening and started doing a lot of practice exam questions and studying but wasn't enough. I had taken the series 6 before and passed that pretty easily. I had used the CBOE materials which was good. Planning on getting the Passperfect, and just study!
     
    #27     Aug 24, 2014
  8. jb3398

    jb3398

    How long did you study for?
     
    #28     Aug 24, 2014
  9. rockn

    rockn

    I had ordered the course in June. I didn't track it, but I listened to the recorded sessions and read thru the materials. Now that I'm thinking about it, all total, less than 40 hrs, more like 30 if that, but that's a guess.
     
    #29     Aug 24, 2014
  10. jb3398

    jb3398

    What recorded sessions?

    If you can provide me with a link to recorded sessions it would be greatly appreciated.

    I am studying now for the series 56. I'm trying to give it at least 3 months of heavy studying before testing.
     
    #30     Aug 25, 2014