Is there any benefit anymore for passing the NASD test. Why would a sucessful trader want to pass this test? If he like the sofa instead of the corporate box. What's the margin power ratio after the test? Is this better leverage? With all the new regulation or tougher penalty for violation for insider trading and so on... Is there any benefit left to being a member of the exchange? Is it easier just being a trader rather than a profession?
There is no right answer to this question. Depends on what you want to do. I have been registered off and on for 18 years. Sometimes I needed the license, and sometimes I could not trade with it by regulation. But the knowledge that comes with it is always useful. Furthermore, I recommend that anyone who wants to trade for a living (professionally or not) should understand the study material for the series 3, whether they ever intend to take the test or not.