New FINRA exams almost always raise concerns for candidates that must pass them.  The recently released Series 57 is no different, but in just a few minutes we can give you some expert guidance that has generated outstanding first time pass rates since the exam was launched in early 2016.

What is the Series 57 Exam?

So just what is the Series 57?  It is the Securities Trader Qualification Exam, developed by FINRA to assess the competency of entry-level Securities Traders. Securities Trader Principals are also required to pass this exam. It replaces the more narrowly defined Series 55 Equity Trader Examination that FINRA previously required for traders.

The Series 57 is composed of 135 questions (125 scored, 10 unscored) that must be completed in 3 hours and 45 minutes.  Use the Knopman Marks Series 57 At a Glance Study Guide to put yourself in the best possible position to pass the first time.  If you follow its tips, you will streamline the study process and find yourself ready to earn your passing score of 70% (or more) in about 75 minutes.

Step-by-step Plan to Pass the Series 57

Series 57 Exam Instructor Tips:

  1. The Series 57 is a new exam that does not have any pre-requisites, therefore the test will cover content that is trading-specific as well as securities industry rules, regulations and general concepts such as investment suitability, recommendations, and product characteristics. Time spent studying these more general topics is well spent.
  2. The exam’s focus has shifted towards more conceptual and high-level understanding of the trading rules and regulations.  Therefore, it is more important to understand the general purpose and principals of the trading rules as opposed to test questions on very granular details of these rules. For example, it is more important to understand the general concepts and standard application of Limit-Up, Limit-Down as opposed to the all the various potential trading bands, timing variations and such.
  3. The Series 57 will cover a significant number of options topics, including suitability, position names, and rules and regulations, do not underestimate the options concepts.

We are here to help!

Success on any Series exam requires significant commitment and effort. But with Knopman Marks as your guide, you will experience an efficient and highly effective study path with expert help available any time you need it. Remember, we are fully dedicated to helping you achieve success.  Contact us at [email protected] for support at any time.

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Written by Marcia Larson
Marcia Larson is Vice President, Faculty, at Knopman Marks Financial Training, New York, NY. She has extensive experience in financial licensing and regulatory training, having authored, developed and presented courseware for numerous securities and insurance exam preparation and continuing education and compliance programs. Before joining Knopman Marks, Marcia was Director of Annuity Products and Business Development at CUNA Mutual Group, where she developed and marketed industry-leading annuity products and retirement solutions and implemented distribution relationships. She was previously VP, Securities Products for Kaplan Financial, managing securities training products and subsequently, international training and businesses development. Marcia has trained thousands of financial industry exam candidates throughout their careers, and also college students as an adjunct professor. Marcia was a summa cum laude graduate of Wartburg College with degrees in Business Administration and Piano Performance. Marcia also holds the designations of Chartered Financial Consultant® (ChFC®), Chartered Life Underwriter (CLU®), Certified Employee Benefit Specialist (CEBS), and Fellow Life Management Institute™ (FLMI®). She currently teaches the SIE, Series 6, 7, 24, 50, 52, 63, 65, and 66 exams.