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Series 14 Test BreakdownHave you considered taking the Series 14 exam? There are many positions in brokerage firms that aren't very glamorous, but nevertheless important. Persons holding these jobs may not discover the hot stock of the year, or appear regularly on the cable business channels, but without them the brokerage firms couldn't function, or even exist. One of these jobs is Compliance Officer. As you can imagine, there are a myriad of laws and regulations which brokerage firms must obey and be in full compliance with at all times, or risk being shut down. Compliance officers are the persons whose responsibility it is to see to it that all laws and regulations are followed.
Any person who's employed as the head compliance officer, or supervises 10 compliance officers, must pass the Financial Industry Regulatory Authority (FINRA) Compliance Officer Examination (Series 14). This test is given in most medium to large cities in America at different testing locations Monday through Saturday. It costs $300 to sit for the exam, which takes 3 hours to complete, and consists of 100 multiple choice questions. In order to receive a passing grade, a score of 70% or higher is required. Although at 100 questions it may not sound like a difficult test to pass, the questions aren't easy, and they assume that you've got a high level of knowledge and familiarity with the various and sundry regulations and regulatory agencies governing brokerage firms, and with all facets of a brokerage firm's business activities, such as managing customer accounts, sales activities, trading in both primary and secondary markets, and dealings with the Municipal Securities Rulemaking Board. Make no mistake-the Series 14 exam is quite challenging, and will require a high level of expertise to pass. Click Here for Series Test Breakdown
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