About the Series 9/10 Exam
What are the topics covered on the Series 9/10 Exam?
The Series 9 and 10 exam is designed to determine whether an individual meets the FINRA's qualification standards for a general securities sales supervisor.
The Series 9 exam consists of 55 scored questions and is broken down into the following sections:
- Federal Regulations (4%)
- General Supervision (23%)
- Sales Supervision (25%)
- Origination and Syndication (23%)
- Trading (10%)
- Operations (15%)
The Series 10 exam consists of 145 scored questions and is broken down into the following sections:
- Supervise Associated Persons and Personnel Management Activities (20%)
- Supervise the Opening and Maintenance of Customer Accounts (33%)
- Supervise Sales Practices and General Trading Activities (36%)
- Supervise Communications with the Public (11%)
See below for more detailed breakdown or visit FINRA.
Series 9
Function 1: Supervise the Opening and Maintenance of Customer Options Accounts
- Reviewing new account documentation to determine if approval is appropriate
- Reviewing recommended customer options trading activities to determine if strategies meet applicable standards
- Reviewing margin accounts to confirm proper handling and timely adherence to margin requirements
Function 2: Supervise Sales Practices and General Options Trading Activities
- Identifying and reviewing customer complaints and take appropriate actions
- Overseeing the correction of options trade errors
- Reviewing daily trade activity for completeness of records or exceptions
- Monitoring the general operational process of options trades
Function 3: Supervise Options Communications
- Reviewing options retail communications and determining appropriate approval
- Reviewing incoming and outgoing options correspondence including approval where required
- Reviewing options institutional communication and determining appropriate approval
Function 4: Supervise Associated Persons and Personnel Management Activities
- Maintaining marketplace and associated product and regulatory knowledge
Series 10
Function 1: Supervise Associate Persons and Personnel Management Activities
- Verifying the qualifications of newly hired associated persons
- Reviewing and maintaining associated persons' registrations and disclosures
- Supervising associated persons and taking corrective actions as appropriate
- Maintaining marketplace and associated product and regulatory knowledge
- Conducting branch office inspections and managing the delegation of duties
Function 2: Supervise the Opening and Maintenance of Customer Accounts
- Reviewing new account documentation to determine if approval meets applicable standards
- Reviewing customer account transactions, distributions and account transfer for appropriateness
- Reviewing margin accounts to confirm proper handling and timely adherence to margin requirements
- Overseeing administrative maintenance of customers' accounts
Function 3: Supervise Sales Practices and General Trading Activities
- Identifying and reviewing customer complaints and taking appropriate actions
- Overseeing the correction of trade errors
- Reviewing daily trade activity for completeness of records or exceptions
- Reviewing trading activity in employees' internal and external accounts
- Supervising sales practices of products
Function 4: Supervise Communications with the Public
- Overseeing telemarketing practices
- Reviewing retail communications and determining appropriate approval
- Reviewing incoming and outgoing correspondence including approval where required
- Reviewing institutional communication and determining appropriate approval