The FINRA Series 9 and Series 10 are two separate qualification exams for General Securities Sales Supervisor registration. Series 9 focuses on options sales supervision, while Series 10 covers general securities sales supervision. Candidates must satisfy the applicable sponsorship, examination and registration requirements before acting in this supervisory capacity.
Understanding how the exams differ can help you organize your Series 9 exam prep and Series 10 exam prep. Here’s what to know about eligibility, exam content and planning your studies.
Series 9 tests options-related supervisory responsibilities. Series 10 addresses broader sales-supervision responsibilities involving personnel, customer accounts, sales practices and public communications.
Both exams contribute to the same General Securities Sales Supervisor registration. Passing one alone does not complete the examination requirements for that category.
Source: FINRA Rule 1220(a)(10).
| Exam detail | Series 9 | Series 10 |
|---|---|---|
| Main focus | Options sales supervision | General securities sales supervision |
| Scored questions | 55 | 145 |
| Unscored pretest questions | 5 | 10 |
| Total questions | 60 | 155 |
| Question format | Multiple-choice | Multiple-choice |
| Testing time | 1 hour and 30 minutes | 4 hours |
| Passing score | 70% | 70% |
Unscored questions are not identified during testing. Answer every question; there is no penalty for guessing. FINRA uses an equating process to account for differences in difficulty between exam versions.
Source: FINRA Series 9/10 content outline.
Candidates need association with and sponsorship by a FINRA member firm or other applicable self-regulatory organization (SRO) member firm. FINRA identifies the SIE and Series 7 as corequisite examination requirements for holding General Securities Sales Supervisor registration.
Work with your sponsoring firm to confirm your eligibility, existing qualifications and exam enrollment. Your firm can help you identify what you need to complete before your registration becomes effective.
Sources: FINRA Series 9/10 eligibility and Rule 1220(a)(10).
General Securities Sales Supervisors oversee securities sales activities, including customer account approval, sales-personnel training and specified branch recordkeeping. The registration covers sales supervision across products such as corporate and municipal securities, investment company products, variable contracts, options, government securities and direct participation programs.
This is a limited principal registration. It does not authorize every supervisory function. For example, the rule excludes supervision of underwriting origination and structuring, market-making commitments, specified custody responsibilities and overall compliance with broker-dealer financial responsibility rules.
Source: FINRA Rule 1220(a)(10) and Supplementary Material .04.
Series 9 covers four options-related supervisory job functions:
| Job function | Scored questions | Approximate exam weight |
|---|---|---|
| Opening and maintaining customer options accounts | 18 | 33% |
| Sales practices and general options trading activities | 19 | 34% |
| Options communications | 5 | 9% |
| Associated persons and personnel management | 13 | 24% |
Use your Series 9 study guide to work through each function, then use practice questions to identify where you need additional review.
Series 10 covers four general securities sales-supervision job functions:
| Job function | Scored questions | Approximate exam weight |
|---|---|---|
| Associated persons and personnel management | 28 | 19% |
| Opening and maintaining customer accounts | 49 | 34% |
| Sales practices and general trading activities | 52 | 36% |
| Communications with the public | 16 | 11% |
Source for both tables: FINRA Series 9/10 exam overview. Percentages are rounded from scored-question counts.
A Series 10 study guide can help you organize this broader material. Allocate review time using both the exam weights and the topics you consistently miss.
Coordinate enrollment with your sponsoring firm, then schedule your appointments through Prometric within your open exam windows. FINRA generally provides a 120-day enrollment window for taking an exam.
The Series 9 and Series 10 may be taken in either order. You can schedule them on separate dates or, subject to appointment availability, on the same day. If you choose the same day, account for the combined testing time and ensure your appointments do not overlap.
Sources: FINRA exam scheduling and Series 9/10 content outline.
Review your confirmation emails and FINRA’s test-center instructions before your appointments. For local testing, plan to arrive 30 minutes early and bring the required unexpired identification with a matching name.
Plan separately for each exam while coordinating your overall timeline. Your Series 9 exam prep should address options supervision; your Series 10 exam prep should cover the broader supervisory functions.
Choose study materials that explain the concepts and provide opportunities to apply them. Practice results can guide your review, but they do not guarantee a passing outcome.
No. FINRA’s outline allows the exams to be taken in either order within the applicable enrollment period. Choose your sequence based on your preparation and appointment availability.
Plan to pass the exams within two years of each other. This is separate from the enrollment window for each appointment. Confirm the deadline attached to your passed exam with your sponsoring firm before scheduling the remaining exam.
Sources: FINRA qualification update and ExamFX Series 9 overview.
No. Candidates need sponsorship through an eligible member firm. Work with your firm to confirm the applicable qualifications and enrollment process.
Both exams require preparation in supervisory responsibilities. Your experience may make some material familiar, but you still need to apply relevant rules to unfamiliar scenarios. Use your practice performance and understanding of the full outline to guide your preparation.
Look for coverage of the current exam outline, clear explanations of supervisory concepts and practice questions with answer explanations. Consider how the guide works with your review schedule and other tools, such as progress tracking or video instruction.
ExamFX offers Series 9 and Series 10 preparation packages with study plans, practice question sets, exams and progress tracking. Online Course packages also include on-demand video lectures. Compare the features for each exam and choose the support that fits your preparation needs.
For help comparing options, contact ExamFX.