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Firms that dont require series 56 exam
- Thread starter pbylina
- Start date
Quote from dealmaker:
they require S-7...
I've taken the series 7 and 56 in the past 6 months and it's not as tough as it looks. Read through the material once and then take the practice exams over and over until you are scoring 85-90% on them.
If you cant even put in the effort to study for a test how the hell will you do in the market. These tests are a cake walk compared to trading. Goodluck, hope your not the typical hobbyist that walks through many of these prop firms nowadays.
Quote from Shanb:
I've taken the series 7 and 56 in the past 6 months and it's not as tough as it looks. Read through the material once and then take the practice exams over and over until you are scoring 85-90% on them.
If you cant even put in the effort to study for a test how the hell will you do in the market. These tests are a cake walk compared to trading. Goodluck, hope your not the typical hobbyist that walks through many of these prop firms nowadays.
Why did you take both? I am not aware of any firm requiring both.
Quote from dealmaker:
Why did you take both? I am not aware of any firm requiring both.
The 56 was just instituted about 6 months ago, the firm I was trading at the time required it. I recently moved firms and they require the 7. The 7 is more useful and you will likely need it somewhere along the line if you work in the industry.
Op, I wish you the best in trading, but if you're not disciplined enough to sit down, and study for a 100 question exam, I question if you are disciplined enough to trade real money with leverage.
No slam meant. Just want to assure you that without discipline, you'll be separated from your money in no time flat.
No slam meant. Just want to assure you that without discipline, you'll be separated from your money in no time flat.
WTS Boston created their own manual, everything you study from that manual WILL BE on that test. Pass rate is 90%. How do I know? Let's just say I know a guy on the inside. ;-)
Quote from earlybirdstango:
WTS Boston created their own manual, everything you study from that manual WILL BE on that test. Pass rate is 90%. How do I know? Let's just say I know a guy on the inside. ;-)
The 56 was a nightmare to take in the first couple months it was put out. No one knew what the hell would be on the thing and the study guides were lousy for the most part. The newer study guides are alot more helpful and if one studies you should have no problem passing it!
Quote from pbylina:
What firms dont require series 56 exam?
You can search these boards for the offshore firms that don't require the exam, and know the risks vs. joining a U.S. based registered firm.
What the op said is true, the exam study guides were incomplete and it required a lot of guesswork in taking the test in the beginning.
Even if it takes a few attempts, you will pass if you are willing to put in the time and effort to study.
See this thread for more info:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=225634