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    License Exams

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    collegetradingexchange
    This document discusses licensing exams required for brokerage jobs, including the Series 7 and Series 3 exams. It provides details on the purpose of each exam, format, costs, topics covered, and how to prepare. It also briefly outlines what brokerage jobs entail, such as cold calling and incentivizing clients to trade frequently rather than focusing on performance. Those interested in learning more can contact the email provided.

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    Attribution Non-Commercial (BY-NC)
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    License Exams

    Uploaded by

    collegetradingexchange
    55 views8 pages
    This document discusses licensing exams required for brokerage jobs, including the Series 7 and Series 3 exams. It provides details on the purpose of each exam, format, costs, topics covered, and how to prepare. It also briefly outlines what brokerage jobs entail, such as cold calling and incentivizing clients to trade frequently rather than focusing on performance. Those interested in learning more can contact the email provided.

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    This document discusses licensing exams required for brokerage jobs, including the Series 7 and Series 3 exams. It provides details on the purpose of each exam, format, costs, topics covered, and how to prepare. It also briefly outlines what brokerage jobs entail, such as cold calling and incentivizing clients to trade frequently rather than focusing on performance. Those interested in learning more can contact the email provided.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    55 views8 pages

    License Exams

    Uploaded by

    collegetradingexchange
    This document discusses licensing exams required for brokerage jobs, including the Series 7 and Series 3 exams. It provides details on the purpose of each exam, format, costs, topics covered, and how to prepare. It also briefly outlines what brokerage jobs entail, such as cold calling and incentivizing clients to trade frequently rather than focusing on performance. Those interested in learning more can contact the email provided.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 8

    THE TRADING PITT

    NOVEMBER 16TH, 2010


    LICENSE EXAMS

    • Why do you need them?


    • Sponsored by FINRA which is the successor of NASD
    • If you want a brokerage job you need the proper licenses
    • Over 25+ exams exist at the moment
    • Recently added Series 79 for Investment Bankers
    • An attempt to show that representatives are “competent”
    SERIES 7

    • Needed to legally provide advice to clients (i.e. being a


    Registered Representative)
    • 6 Hours Exam
    • 260 Multiple Choice Questions
    • You must pass over a 70% on each part.
    • Costs $250 to take and can be scheduled at any time at a Testing
    Center
    • Questions include how to give “proper advice”, how to keep
    records, process trades.
    • More on the requirements
    • Need to be sponsored by a broker dealer
    SERIES 3 EXAM (FUTURES)

    • Needed to become an Associated Person, Introducing Brokers,


    of Futures Commission Merchant
    • Involved with Futures or Forex
    • Questions included 30% on Regulations
    • 70% are about how Futures Work, how to hedge, basic price
    analysis, options.
    • I have this license and if you would like more information
    specifically about this test send me an email at
    [email protected]
    • EXCELLENT way to learn futures very fast
    HOW TO PREPARE

    • Get a study guide from Securities Training Corporation


    http://www.stcusa.com/
    • With CD’s
    • The study guide is one of the only ways you can really find
    out what is on the test
    • Some questions from CD’s were word for word on the test.
    • Takes about a month of semi-hard studying (2-3 hours a day)
    to be prepared.
    • Series 7 more than the 3
    • The more familiar you are with trading and financial products
    the easier it
    TAKING THE TEST

    • Prometrics or Pearson VUE are two centers


    • Computer Based
    • Very Serious
    • Not allowed to leave or you forfeit the exam
    • Taking tests along side Doctor’s, Lawyers, etc..
    • Instant Feedback
    BROKERAGE JOBS

    • Do you like cold calling?


    • Incentives?
    • Landing the big client
    • Trading Job sometimes with out the control and the payout
    • Best sales people make the most money
    • All about asset under management not about performance
    • Your goal is to get your client to trade and if they make money even
    better.
    • Not to make your client money
    • http://
    www.hulu.com/watch/15503/wall-street-warriors-up-on-futures#s-p2-s
    o-i0
    • There are good brokers out there.
    QUESTIONS

    • Send us an email at [email protected]


    • Interest in Private Equity Conference?
    • University Venture Fund sponsored at the end of January.
    • More information will be sent out in the email.

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