The Series 9/10 exam is a test that securities industry professionals must pass in order to sell and trade securities. The exam is administered by the Financial Industry Regulatory Authority (FINRA), and is sometimes referred to as the General Securities Registered Representative Examination or simply the Series 9. The exams measure the degree to which test-takers have the knowledge and understanding necessary to work in the securities industry, including the approval of customer transactions, understanding of investment products and the ability to assess a customer's financial needs. Have questions about the Series 9/10 Exam? Click here. The Series 9/10 is mandatory for all individuals who are interested in working with securities. In general, this includes individuals working in a variety of positions such as financial advisors, registered representatives, investment bankers and more. Individuals who want to become registered representatives must first take and pass the Series 9. Then, they must meet state-specific requirements – such as taking a pre-licensing course – before they can take and pass the Series 10 to sell or trade in debt securities. After passing both exams, candidates must also complete a registration process, which includes passing a criminal background check. However, not everyone is eligible to take the exam or work with securities. In order to be eligible for either of these, an individual must meet certain state and federal requirements such as: Some individuals who hold certain positions in the securities industry may be exempt from taking the Series 9/10. For example, FINRA Rule 2111(a)(3) exempts certain registered representatives who are also licensed insurance agents. The Series 9/10 Exam consists of 215 questions in four major areas; 60 questions for the Series 9 and 155 questions for the Series 10. The candidates have 90 minutes to finish the Series 9 and 4 hours to finish the Series 10. The topics covered in the Series 10 are: The topics covered in the Series 9 are: Here are a few examples of questions that could appear on the Series 9/10 Exam: In 2024, the cost of taking the Series 9/10 Exam is $405. This price includes a $295 fee for the Series 10 and a $110 fee for the Series 9. To pass the Series 9/10, candidates must correctly answer at least 70 percent of the questions. Candidates are required to correctly answer at least 42 of 60 questions of the Series 9. To pass the Series 10, candidates must correctly answer at least 108 of 155 questions. FINRA reports that most results are available online within 24 hours. To be sure results are posted in a timely manner, FINRA recommends that candidates take advantage of the test taker portal as soon as they finish the exam. The Series 9 and 10 exams are meant to assess the competency of General Securities Sales Supervisors in the following fields: The Series 9/10 is an important exam for individuals who work in the securities industry. The content of the exam is designed to test the knowledge and skills necessary to supervise various activities related to customer accounts and sales practices. If you are planning to take either the Series 9 or 10, it is important to do so as soon as possible. Both exams have a mandatory exam expiry policy. For example, candidates must complete all four exams within five years of passing the first one and every second year thereafter – otherwise an exam retake fee must be paid.Who Must Take the Series 9/10?
Eligibility
Content of the Exam
Sample Questions on the Series 9/10
Cost of Taking the Exam
Passing Score
How Long Does It Take To Receive Results?
Permitted Activities
Final Thoughts
Series 9/10 FAQs
The Series 9/10 is an exam administered by FINRA that tests an individual's knowledge and skills related to supervising customer accounts and sales activities in the securities industry.
All individuals who wish to become registered representatives must take the Series 9/10.
To pass either exam candidates must answer at least 70% of the questions correctly. Candidates are required to correctly answer at least 42 of 60 questions of the Series 9. To pass the Series 10, candidates must correctly answer at least 108 of 155 questions.
Most results are available online within 24 hours but candidates should check the FINRA website for the most up-to-date information.
The Series 9/10 exams cover topics that test an individual's knowledge and skills related to supervising customer accounts and sales activities in the securities industry. Questions on topics such as the issuing of securities, options trading, margin accounts, penny stocks, rights issues, etc. are included on the exam.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
