For those that have taken the Series 56

[kmgilroy89]

How well does this study guide reflect what's on the test?
http://www.prop-trading.com/finra-series-56-outline/

This looks like many of the facts that we need to know to pass the test. I like it, because it cuts out the filler in the CBOE and Pass Perfect which are hundreds of pages long. I don't know if it's exhaustive enough to get a 70 on the test though?

Thank you.

 

[ScalperJoe]

The list clearly contains a disclaimer:

"This outline is meant to compliment your reading material and not to be used as a supplement."

The outline seems fairly accurate, however I don't see how it's possible to simply study this outline and pass with a 70.

In other words, there's no way around putting in the time and effort to study from either the CBOE, Pass Perfect, or other materials.

 

[EvOTraderV2]

It seems like they have a more thorough review here: http://www.prop-trading.com/series-56-study-guide/

However, you should not rely on this. You will fail. Take the time and read the book & do the practice exams. Studying from an outline or someone else's notes makes your chances of failing much greater.

 

[Pulsarcapre]

Dude, the real test is significantly harder. I secured the practice materials through the CBOE - it comes with a cheat sheet and a 200 page booklet made up of 5 sections. There's also practice tests online.

I read the disclaimer about not all material being covered and the online tests being easier, but I was not prepared in the slightest for the actual test.

I was scoring 90-100 on the online tests, but they really don't cover all of the material and the actual test is difficultly worded and covers a lot of material that isn't in the booklets.

however, I scored a 72/100 and passed after an anxiety filled morning during which I actually prayed or tried to psycically intuit about 5 answers.

It's kind of a crap shoot, but if you master the practice materials and I mean really master them, you can pass the test. I'm living proof.

PM me if you want to chat about it.

 

[LEAPup]

Why aren't you guys taking the S7? There's plenty of material out there for this one.

 

[kmgilroy89]

I passed with a 79. Study the Pass Perfect and CBOE Review. I didn't do the practice exams, but did the questions are the end of the sections in Pass Perfect. Some firms want you to take the 56 so the 7 isn't always an option.

 

[torque]

Quote from Pulsarcapre:

Dude, the real test is significantly harder. I secured the practice materials through the CBOE - it comes with a cheat sheet and a 200 page booklet made up of 5 sections. There's also practice tests online.

I read the disclaimer about not all material being covered and the online tests being easier, but I was not prepared in the slightest for the actual test.

I was scoring 90-100 on the online tests, but they really don't cover all of the material and the actual test is difficultly worded and covers a lot of material that isn't in the booklets.

however, I scored a 72/100 and passed after an anxiety filled morning during which I actually prayed or tried to psycically intuit about 5 answers.

It's kind of a crap shoot, but if you master the practice materials and I mean really master them, you can pass the test. I'm living proof.

PM me if you want to chat about it.

CBOE study guides are definitely not sufficient. I think a lot of people failed the series 56 on their first attempt because they only relied on the CBOE guide. You want to use both that and passperfect and do all the full-length practice tests on passperfect.