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SERIES 56 EXAM PRODUCTS

Note: All FINRA (NASD) exams are continually being updated.
You should take your exam within 120 days of ordering your study materials!


Series 56 Exam | Proprietary Traders

The Series 56 Proprietary Traders Qualification Examination is designed to test a candidate’s knowledge of applicable products, securities markets, trading and reporting practices, investment strategies, and anti-fraud provisions as applicable to the role of a proprietary trader.

2 1/2 hours -- U-4 Form test application -- $195.00 Test Fee

Section Description Points
1
Personnel, Business Conduct, Recordkeeping and Reporting Requirements
9
2
Markets, Market Participants, Exchanges, and Self Regulatory Organizations
8
3
Types and Characteristics of Securities and Investments
20
4
Trading Practices and Prohibited Acts
50
5
Display, Execution, and Trading Systems
13
 
Total Points
100

The five Chapters are divided into Key Sections followed with a Section Quiz. In addition there are Five 100 point final exams400+ pages with 600+ questions in all.   Each question has a detailed explanation.

There may be, in addition, SRO specific registration requirements that would need to be met before an individual may become fully registered as a proprietary trader.

An individual may request a waiver from the qualification examination. A waiver request must be submitted using CBOE's on-line Exam Waiver Request form which is available at https://www.cboe.org/examwaiver.


Series 56 Study Text

Series 56
Study Text

Series Exam Study Text
$150.00


The exam is weighted heavily towards options trading rules, but also includes equity trading rules.

The Pass Perfect Series #56 Study Program is designed to cover all items tested on the examination while making the most effective use of a candidates time.

The course is divided into 5 chapters:

  • Equity Securities
  • Options Strategies
  • Trading Markets
  • Trading Practices
  • Trading Systems

Each chapter is divided into Sections, followed by Section Examinations. In addition, there are five (5) 100 question simulated #56 Final Exams.

 

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