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Series 4 Test BreakdownIf you're a registered representative who's employed by a brokerage firm, and enjoy and do well at options trading, you should definitely consider taking the Series 4 Registered Options Principal Licensing Exam. Taking and passing the Series 4 test, which is administered by the Financial Industry Regulatory Authority, will qualify you to oversee and supervise options trading and traders at your firm, and to monitor the amounts and obligations deriving from your brokerage firm‘s options trading. Every options trade must be approved by a Registered Options Principal (ROP), who acts as a go between for the client and the firm handling the actual trade on the exchange. To take the Series 4 exam you must first have passed the Series 7 exam, and you must be sponsored by a brokerage firm in order to sit for the test. Of course, since you've already got your Series 7 license, you'll be familiar with basic options trading knowledge, but you'll need a much higher level of familiarity with options trading to pass the Series 4-the test covers some of the same material on your previous test, but much more in depth. In addition, you'll need an in depth understanding of foreign currency and equity options trading, non-equity options trading, debt equities options trading, spread and straddles, using options to hedge. You'll also be tested on supervisory obligations, and complying with FINRA rules and regulations, and those of the Options Clearing Corporation. The Series 4 test cost $80 to take, and can be taken at various test centers around the country on weekdays and Saturdays. You'll be given three hours to answer 125 multiple choice questions, and you'll need to answer at least 70% of the questions correctly to pass. You're not allowed to bring a calculator; if you need one it will be provided. Click Here for
Series Test Breakdown
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