Official Series 56 Training Manual Available From CBOE

Discussion in 'Prop Firms' started by EvOTrAdEr, Jul 26, 2011.

  1. Just got this email. I'm pre-ordering the book. it's $99 and you get the testbank with 50 question practice tests.

    The Options Institute is committed to providing quality market education to both individual and institutional option traders. With the introduction of the Series 56 license the Institute has been working diligently to create materials. The goal is to balance quality information with the deadline individuals are working with to pass the exam. Over the next couple of weeks we will be offering study aids in the form of a study guide, online practice testing system and series of webcasts.

    The study guide takes the outline that was given as guidance to prepare for the exam. The guide is very direct and to the point on definitions and rules that may appear on the exam. A first version of the study guide should be available for purchase the afternoon of Tuesday July 26 for $99.00. We will begin taking orders for the study guide on Monday July 25. Again the Institute is balancing the timely need for study materials with the deadline that test takers are working under. If based on feedback, there appears to be a need to update this material we will through addendums in the form of emailed files.

    The Option Institute has in place an online testing system. A test bank of 200 questions is being developed and this test bank will be randomly accessed to create unique 50 question online practice tests. As with the study guide, based on participant feedback, we plan to expand the number of questions in the test bank. Access to the testing system will be included with purchase of the study guide.

    Finally, we plan to offer a three part series of webcasts the week of August 8 to 12. The times and actual dates of the webcast series will be announced shortly, but the format will be three two hour webcasts that will directly address the outlined material. If the need arises, a fourth webcast may be offered to specifically answer any questions that come up over the course of study. The cost of the webcast series will be $199. This includes a copy of the study guide and access to the practice testing system. After purchasing the study guide, this may be applied to the webcast series.

    Also, the instructors that created the materials may be available to visit firms and offer sessions on taking the test and answer any questions that test takers may have. Please Debra Peters ( or 312-786-7395) at the Options Institute regarding this extra service or if you have any other questions regarding the materials.

    The Options Institute is approaching the Series 56 materials with a collaborative attitude. We feel the market participants that are required to take the Series 56 are essential to the liquidity and success of the option market place. Our ultimate goal is to help these participants pass this exam and get back to the business of providing liquidity to our market.

    Russell Rhoads, CFA


    CBOE - The Options Institute
  2. I ordered the manual and should be receiving it by friday hopefully. I'll let you guys know the deal on the topics. I already have the book from I'll compare them off once I get them. thanks.
  3. hey guys, check out i hear there study guide will be very extensive! ive been told itll be released Aug 1st for less than $100. the other site's study guide is only 150 pages BUT the outline alone was 60 pgs of it so that doesnt sound comprehensive to me
  4. DLP198


    I'm on the webpage and don't see anything about the Series 56 or study material. Can someone send me an exact link or tell me where to look? Thanks.
  5. DLP198


    The study guide is available, but there is no info about it on the CBOE will need to call them and they will FedEx it ASAP for $99....1-877-THE-CBOE
  6. EvoTraDer.......have you had time to compare the exam books from cboe and any input appreciated.
  7. I got the CBOE book yesterday and I definitely think the CBOE book is the way to go. I got the email last night from CBOE that the 200 sample questions were online. I have the books from both and from the options institute. book was made using the outline, however, the options institute book is catered directly to the test. for $99 with the sample tests, I'd go with the CBOE book. I've read about 30% of and about 10% of the options institute guide. I really prefer the options institute guide because the sections are drawn out more easily.

    I haven't taken the exam yet so I can't say which is best for the exam. My firm will be having a free 3-day seminar for registered members so I'm hoping to get more clarification then.
  8. ok great...thanks for the info. i know 5 traders that took the exam last week....4 passed without too much studying but barely...scored in low 70's for most...and 1 failed. so if the CBOE study materials are well layed out then its just a matter of putting in a good solid week of studying...i have applied for a waiver but since my S7 expired a few years ago i am not expecting to get waived so i am ordering the book monday and will schedule the exam by before aug 19th that way if i fail i still have time to get in the second try before 9/19. on another note, one of the principle's of the firm i trade with says there is talk of another extension...anyone hear anything similar?
  9. jd7419


    Anyone have info on possible extension? Person I spoke to at t3 said upwards of 10,000 traders could be effected by this test.
  10. DLP198


    I received my manual today. I'm looking at the exam outline and comparing it to the book. So on the outline, for example, Section has a full page of rules: BOX, CBOE, C2, CHX, etc. but the manual barely even mentions these, at least not specifically. Anyone have any thoughts on this??
    #10     Aug 1, 2011