representative with a Series 7 license who wants to work investment banking should earn the Series 79 license. It only expires if Frequently Asked Questions About the FINRA Series 79 Exam. So you should expect it to be challenging; however, with dedicated and focused preparation, it is possible. If you earn this license, you will most likely work in an investment firm or bank. We’re with you every step of the way, from the time you purchase until the time you pass our trusted experts are here to answer all of your questions! In fact, you need to be employed by a sponsoring FINRA-member firm before you can sit for We asked several accomplished securities pros what they wish they knew before they earned their license and started their career, and what they thought all aspiring securities professionals should know. plan to focus investment banking as registered representatives. Fortunately, Pricing of securities in debt and equity offerings, Managing the allocation and stabilization activities of offerings, Transactions involving business combinations, which might include rendering solvency and fairness opinions. Investopedia uses cookies to provide you with a great user experience. Generally, testers will need Series 79 registration even if they already have the Series 7. Candidates need to answer 73% of the questions correctly for a passing score., A tutorial on the exam is provided prior to taking it. FINRA is the governing body that ensures that anyone who sells securities products is qualified and tested. This depends on the activities being performed. Analysis of trends in the market, specific industry sectors, individual companies, and the capital structure and valuation metrics of comparable companies, Due diligence by identification of information that is required to be disclosed in public or private offering documents Public offerings, Sell-side and buy-side transactions associated with mergers and acquisitions, tender offers, and closing. however. FINRA. This section also goes into communicating with various departments and clients, using metrics and ratios, and analyzing trends to evaluate what you have found in the firm and sector data. program partnerships, collateralized mortgage obligations, and more. B2B Website Developed by SmartSites, In this article we are going to review everything you …, In this article we are going to review a significant …, For more than 25 years we’ve helped students pass over 250,000 exams and we’ve done so with, How to Ace Equity Securities on the SIE exam. After a job analysis was conducted, a committee of investment bankers agreed on the major duties, job functions, and tasks associated with those working in investment banking. scheduling your exam session as far in advance as possible to secure your desired Series 79 exam date. Earning a Series 79 license involves four key steps: As part of implementing the Securities Industry Essentials (SIE) exam, However, Series 7 license holders usually earn their Series 79 licenses if they Privacy Policy | Terms of Service. There are no education requirements to sit for the Series 79 exam, although most candidates have a college degree in a finance-related field, and many choose to complete a Series 79 exam prep package before sitting for the exam. the Series 79 exam. There are also 10 additional, unidentified and unscored pretest questions that do not contribute to your score that are randomly distributed throughout the exam. Should I take the series 7 or the Series 79 exam? This includes forms (such as the prospectus), rules, and required financial statements. Debt or equity activities that might require a series 79 include: Some responsibilities that a Series 79 might be required for under this category can include: Series 79 registration may not be required for limited involvement in investment banking activities. The offers that appear in this table are from partnerships from which Investopedia receives compensation. So, after you enroll in the exam, you schedule an appointment with Prometric, and choose an available exam date within that 120-day period. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. The Series 24 is an exam and license entitling the holder to supervise and manage branch activities at a broker-dealer. The questions are detailed with a heavy emphasis Candidates are given 150 minutes to complete the exam. Mergers and Acquisitions and Restructuring, Series 79 – Investment Banking Representative Exam, SEC Approves Rule Change Creating New Limited Representative – Investment Banker Registration Category and Series 79 Investment Banking Exam, Series 24 – General Securities Principal Exam, 1230. Activities that could require the Series 79 include: • Advising on marketing plan prepared by sales team, • Contributing to information used in marketing materials, • Pricing of securities in debt and equity offerings, • Corporation reorganization or divestitures, • Managing the allocation and stabilization activities of offerings, • Mergers and acquisitions and financial restructuring, • Transactions involving business combinations including rendering solvency and fairness opinions. For example, you might need to know what will be in proxy statements Form 14A or Form 4s for beneficial ownership of directors. A FINRA-member firm or SRO must sponsor you to take the Series 79 exam. Like all other securities qualification exams, the Series 79 exam is administered by computer at a Prometric testing center. These include white papers, government data, original reporting, and interviews with industry experts. This depends on the activities being performed. The General Securities Representative (Series 7) examination covers a broad range of industry activities such as retail customer solicitation and sales, trading, etc. This is one of the only cases where the Series 79 can be used as a prerequisite instead of the Series 7. Requirements for eligibility include taking the appropriate qualification examination. Before 2009, the better-known exam, the Series 7, was required. Finally, this section tests your understanding of due diligence activities, such as the regulatory requirement for the buy and sell sides. What is the passing rate for the Series 79 exam? You should take the Series 79 top-off exam if you want to be licensed to sell investment banking products. We hope that this article has helped you determine which registration is required. that investment bankers seldom, if ever, engage in. For a complete guide to exemptions, look at FINRA Rule 1230.. What is the difference between the FINRA Series 79 and Series 7 license? The 10 additional questions are scattered throughout at random. Contact Us Phone: 877-218-1776 Email:, 2020 © Securities CE, All Rights Reserved. Candidates must be sponsored by a FINRA member to take the exam. It depends. Our site will be unavailable for 5 hours starting on Monday, November 16th from 10:00pm and ending at 3:00am CT on Tuesday, November 17th for maintenance. Accessed May 2, 2020. For more than 25 years we’ve helped students pass over 250,000 exams and we’ve done so with  industry leading pass rates! most firms that hire or train you will have a mandatory Series 79 licensing program included in their training package. The exam is made up of 75 multiple choice questions and is completed on a personal computer. Accessed May 2, 2020. Pass Your FINRA Exam Guaranteed Or Your Money Back With Our Greenlight Guarantee. The degree of Series 79 exam difficulty, therefore, is quite high. Read on to get all the information you need to Passing the Series 79 exam is required for applicants for entry-level jobs as investment banking representatives. "1220. The Series 7 is an exam and license that entitles the holder to sell all types of securities with the exception of commodities and futures. debt or equity securities offerings through a private placement or a public offering and mergers and acquisitions. FINRA restructured their examination programs. Candidates must apply their knowledge to specific scenarios related to the three investment banking functions identified as critical by FINRA. How do you know if your investment industry job duties or the duties of one of your reps require a Series 7 license, Series 79 license or both?