NASD Continuing Ed and Series 7

Discussion in 'Prop Firms' started by axehawk, Dec 24, 2002.

  1. axehawk


    Has anyone been through the NASD continuing education process? How was it and what's involved?


  2. rs7


    Yup, just did it for the second time recently. (I think it is now required every 2 years or so. You get a pretty good lead time in notification of a "window" in which to comply).

    Hardest part is remembering to bring a picture ID:)

    I got there, and the gal noticed my license had expired. But seeing that I had a dynamite smile for her, and also they take a thumbprint, she let me slide.

    There is nothing to prepare for. They ask questions. When you get one wrong, they basically tell you the answer and let you retake the question.

    So, as soon as you get the hang of what it is about, you start clicking away. At which point, you get a message to slow down and read the questions.

    It is IMPOSSIBLE not to pass. Unless you fall asleep. There is some kind of time limit. But something like 2 hours to do a 20 minute routine.

    Don't give it any thought at all. It is not a test. It is exactly what it is called...."continuing education". Meaning we continue to not know the answers or care. We just continue to go through the motions to stay licensed.

    Material similar to series 63 (as far as I remember...I haven't taken the 63 since 1984, so maybe that has changed). Nothing like the 7 which you need to actually understand stuff, or the 55 which is the world's biggest waste of time, and nobody really needs to understand any of it. At least not us. That is what we pay commissions for. So someone in operations can know when we get screwed by a market maker or ECN. Like they can do anything about it. (I was once saved though. Sold 500 yahoo at 48 instead of 148 on Instinet. If it was not during regular market hours....ouch, 50K error. Instead the trade was busted, and I sold it later for a higher price. 14 years of trading, and one error went my way).

    I would ordinarily wish you good luck. But you won't need it. So instead I will wish you very happy holidays.

    Peace Axe,
  3. cashonly

    cashonly Bright Trading, LLC

    Are you referring to the CE101?

    If so, bring your No Doz, because it's BORING!!! The toughest part was staying awake, the rest was easy.
  4. axehawk


    So let me get this straight. I don't have re-study for any exam nor do I have to purchase any expensive study materials? Sounds great!

    Thanks RS7 and Cash.

  5. axehawk


    Yes, (I think). It wouldn't be the 201 (Supervisory program.)
  6. count one one thousand, two one thounsand, three one thousand..and click. like the previous post, nothing to study for and if you get an answer wrong, it tells you the right answer. just click away.