What firm doesn't look to make money by coms....Even working true prop ur paying an override to the firm, I think if you know it or not. Actually...I am asking what firms? Peace
sigh. I've had more licenses expire than I can recall. Lost count of how many times I've passed the 7. The 55 was by far the worst, but I hear the 56 is a b-eye-tee-see-ache. Anyway, I think it's important that you know how markets are supposed to be organized. Even if they aren't that way now, they were once, and it was what made them so strong. This is something the US perfected. It would be a pity to forget it.
Yes. I got an 85!! Wahooo!! It was a difficult exam. When I was done I was calculating what score I might get based on the number or questions I wasn't sure I got right. I was thinking I got closer to a 70, so I was sweating it before I got the results. Then I got the 85 and I was stoked. I must have done some good educated guessing on a number of the questions. I'm so glad that crap is done. It was such a pain in the ass.
Nice congrats. It looks like I'm gonna go that route. I was gonna do the offshore thing, but someone mentioned the tax situation sucks more. Looks like I will just study for this thing.
Hi guys. I will be taking the Series 56 exam mid July or 2nd to last week. What is the average breakdown of the test you guys encountered? I read some only encounter 10 options questions while PassPerfect stated 25%. Pass Perfect has the test structured as: equity 5%, options 25%, trading markets 15%, trading practices 40%, trading systems 15%. Any advice would be helpful. I have gone through this thread and it seems to be regulation heavy on the question. Can anybody confirm this who has recently taken it in 2013? Thanks.
Here is what my printout at the end of the test said: 1. Personnel, Business Conduct and Recordkeeping and Reporting Requirements. 9 Questions 2. Markets, Market Participants, Exchanges, and Self Regulatory Organizations. 8 Questions 3. Types and Characteristics of Securities and Investments. 20 Questions 4. Trading Practices and Prohibited Acts. 50 Questions 5. Display, Execution, and Trading Systems. 13 Questions I guess they name their categories a little differently, but the bulk of the test is regulations. I found the Practice Perfect tests to be the most helpful thing. I took the practice tests over and over and never moved onto the next test until I could get 90% or higher on the last one. Just make sure you LEARN the answers on the practice tests so you UNDERSTAND the questions and answers. Don't just memorize the answers because the real test will most likely have concepts worded in different manners and set in different scenarios. Study, study, study. Take it seriously because the test is not easy. If you fail you have to wait 30 days to take it again and I believe you have to pay to take it each time.
Thanks for advice. That breakdown is pretty odd but it is ok. I wanted to know the current test and how it is maybe skewed. Definitely focusing in on regs/markets/ and the rest. I am getting accustomed to studying and understanding the material rather than memorizing answers.