Series 9/10
Series 9/10 refers to a two-part securities exam and license entitling the holder to supervise sales activities at a general securities-oriented branch office. Before taking the Series 9/10 Exams, also known as the General Securities Sales Supervisor Qualification Exams, a candidate must have a Series 7 license.The Series 9/10 covers topics such as the supervision of options and general securities sales and trading practices in primary and secondary markets. The Series 9/10 exams are administered by the Financial Industry Regulatory Authority (FINRA) and were formerly known as the Series 8 Exam. As the name would suggest, the exam is broken into two parts; the Series 9 is the shorter and covers options sales and trading, as well as regulation and administration. Series 10 represents a deeper dive into a similar but broader range of topics and requirements.
Series 9/10
Definition
The Series 9/10 is a two-part securities exam and license that authorizes the holder to supervise sales activities at a securities firm's main office. Before taking the Series 9/10 exams (also known as the General Securities Sales Supervisor Qualification Exams), candidates must hold a Series 7 license. The Series 9/10 covers topics including the supervision of options and general securities sales and trading practices in both primary and secondary markets.
Origin
The Series 9/10 exams are administered by the Financial Industry Regulatory Authority (FINRA). Previously known as the Series 8 exam, the Series 9/10 was developed to address the increasing complexity of financial markets and the need for more rigorous exams to ensure supervisors have the necessary knowledge and skills to oversee securities sales and trading activities.
Categories and Characteristics
The Series 9/10 exams are divided into two parts: Part 9 and Part 10. Part 9 is shorter and focuses on the supervision of options sales and trading, as well as regulatory and managerial aspects. Part 10 delves deeper into similar but broader topics and requirements, including general securities sales and trading practices in both primary and secondary markets.
Specific Cases
Case 1: A sales supervisor at a securities firm needs to oversee their team's options trading activities. After passing the Series 9 exam, they have the necessary knowledge and skills to effectively manage and supervise these activities, ensuring compliance with regulatory requirements.
Case 2: Another sales supervisor, after passing the Series 10 exam, is able to comprehensively oversee all securities sales and trading activities in both primary and secondary markets at their firm. This includes everything from new stock issuances to secondary market trading, ensuring all operations comply with FINRA regulations.
Common Questions
Question 1: Do I need to pass the Series 7 exam before taking the Series 9/10 exams?
Answer: Yes, candidates must hold a Series 7 license before taking the Series 9/10 exams.
Question 2: How difficult are the Series 9/10 exams?
Answer: The exams are quite challenging and require candidates to have a solid understanding of securities knowledge and practical experience. It is recommended that candidates thoroughly prepare and familiarize themselves with the exam syllabus and relevant regulations.
