FINRA Series Examination Tips

Tackle the FINRA Series exam strategically.

With years of experience, we formulate this examination guide for you to prepare the FINRA exams efficiently.

Introduction

Even if you are a finance newbie or not, for your career, it is very important for you to pass the FINRA examinations. Taking FINRA examination needs strong stamina. For example, the examination duration of series 7 is 3 hours and 45 minutes with 125 questions. For series 3, there are 120 questions to be answered in 2 and a half hour. Therefore, not only you need to be able to focus for a long period of time, you have to be quick in answering the questions.

Below are the tips to excel in FINRA examination:

 

1.

Beware of outdated study materials

FINRA issues new regulations and updates frequently. This also impacts the FINRA examination content. If you use your friends’ study material few years ago, it is highly possible that you will make wrong answers in the examination as the information provided by your friends is dated. Therefore, you have to be very conscious while picking study materials by looking at their last update date.

 

2.

This is an examination on ethics

The answers of the Multiple Choice Questions could be quite confusing for you to choose. There is a tip to guide you to choose the correct answer. As FINRA is an examination aims to test the ethnics of the practitioners in the field who looks for the best interest of clients, the most ethical answer is the most likely the correct answer.

 

3.

Their question could be misleading

FINRA examinations tend to use double negation in their question setting. For example, “not excluded” and “all statement are false except”. You need to be very alert while picking the correct answer.

 

4.

How long should I take to prepare for the FINRA examination

It is advisable to spend around 100 hours to prepare for the examination. With around 60 hours on study materials, 40 hours should be spent on the practice tests. Especially for series 7 which focuses much on memorization, more study time is expected.

 

5.

Practical but not technical

In last generation of FINRA examination, technical knowledge was highly focused. However, it is not the case for the current FINRA examination. Current examination puts more focus on the practical issue. It is because FINRA finds it more important to train up candidates in dealing with daily client’s financial needs than loading candidates with impractical technical knowledge.

 

6.

Train up yourself mentally and physically

It is not an easy task to handle both your full-time job and FINRA examination at the same time. To prepare yourself for this examination, you need to have a good sleeping cycle and regular exercises. Both of them can reduce stress and anxiety which you will encounter during the whole examination preparation period.

 

7.

Be familiar with the Examination format

As I said before, different series examinations have different examination format, duration and number of questions. You should be familiar with all this information so that you can arrange your time effectively in answering all the questions.

 

8.

Special accommodations service

Do you know that FINRA can provide candidate with special accommodation service. This service, once approved, will offer you additional examination administration time and separated testing rooms. Application details can be referred to the FINRA accommodations page and the approval process normally takes 3 business days.

 

9.

Credibility of the information in study group and forum

We know that most candidates rely on the information of online study group and forum for seeking answers to their questions related to FINRA examination. As you may know, FINRA does not issue official study material but just study guide. If you are asking about details of certain FINRA examination syllabuses, the answers from these online study groups and forums could be doubtful as their source of information is unknown. Worse still, you cannot cross-check these information with the official documents. Therefore, we do not recommend candidates to rely on information from online study group and forum.

 

10.

I am running out of time to prepare for the examination. Should I choose the study guide or the practice quizzes?

If you are asking whether practice quizzes or study guide to be more important, it will be a very difficult question as both are very significant to your success in the examination. As we advised in the previous paragraphs, candidates are recommended to spend 100 hours to prepare for the examination. If you are really running out of time, we would recommend you to spend more time on practice quizzes than study guide. It is because reading study guide is comparatively more time consuming compared with doing practice quizzes.

Conclusion

FINRA series exam is an old exam, majority of the exam format and questions has been covered in the past. Study smart and efficiently by leveraging the right study materials. If you enjoyed reading this free guide, share it to your colleagues and friends so that they know you are thinking about them!

About the writer

Deborah H. Watson
Exam Content Reviewer
Deborah used to works in a global financial institutions. She is now a team leader in FINRATestBank exam content review team, constantly reviewing test bank and study materials content.

Get an account for free and commence test bank

Sign Up
Fields with (*) are required
or
Account Info
A password will be e-mailed to you.
Subscribe to receive our periodic series exam tips
 

Please check your spam folder if you have not receive the password in one minute.

Got a question in mind?

Our 24 x 7 support is just an email away.
Stay Connected

FINRATESTBANK