Series 56 - LOL Thread
- Thread starter ksmetana
- Start date
If you have an expired 7 and take continuing education, they may also give you a waiver. I think it's on a case-by-case basis.
So-
This test. I absolutely POURED through the study material from the PassPerfect book and the CBOE material, making sure to take every passperfect practice test until I remembered every answer and read the book or 5 times taking meticulous notes over the course of the past 3 months or so. I was intimately familiar with every detail of outlined in the book and the cboe material. I went into this test feeling like I could not have prepared more.
About 5 questions had anything to do with what I had studied, and the other 100 needed to be answered by taking some serious guesses. The material I studied built a 'foundation' but really was not directly linked to anything asked much at all. By the time I was 90% through with the test I felt like I would be doing just as well if I clicked answers without reading any questions.
My advice: Study A LOT. Seriously. This test has barely anything to do with the study material, but it's the best you're going to be able to do. IMO this test is absolutely outrageous and designed to be a prohibitive barrier and nothing more, quizzing people on extraneous knowledge that does not parallel with the daily rigors of their career and highly insufficient preparation material. It might take a few tries to pass, no matter how well prepared you are. A big part of passing, for most, will definitely be sheer luck.
Oh by the way, if I come off as sounding bitter because I failed, I did not. I passed
!
This test. I absolutely POURED through the study material from the PassPerfect book and the CBOE material, making sure to take every passperfect practice test until I remembered every answer and read the book or 5 times taking meticulous notes over the course of the past 3 months or so. I was intimately familiar with every detail of outlined in the book and the cboe material. I went into this test feeling like I could not have prepared more.
About 5 questions had anything to do with what I had studied, and the other 100 needed to be answered by taking some serious guesses. The material I studied built a 'foundation' but really was not directly linked to anything asked much at all. By the time I was 90% through with the test I felt like I would be doing just as well if I clicked answers without reading any questions.
My advice: Study A LOT. Seriously. This test has barely anything to do with the study material, but it's the best you're going to be able to do. IMO this test is absolutely outrageous and designed to be a prohibitive barrier and nothing more, quizzing people on extraneous knowledge that does not parallel with the daily rigors of their career and highly insufficient preparation material. It might take a few tries to pass, no matter how well prepared you are. A big part of passing, for most, will definitely be sheer luck.
Oh by the way, if I come off as sounding bitter because I failed, I did not. I passed
!Quote from miamihorror:
So-
This test. I absolutely POURED through the study material from the PassPerfect book and the CBOE material, making sure to take every passperfect practice test until I remembered every answer and read the book or 5 times taking meticulous notes over the course of the past 3 months or so. I was intimately familiar with every detail of outlined in the book and the cboe material. I went into this test feeling like I could not have prepared more.
About 5 questions had anything to do with what I had studied, and the other 100 needed to be answered by taking some serious guesses. The material I studied built a 'foundation' but really was not directly linked to anything asked much at all. By the time I was 90% through with the test I felt like I would be doing just as well if I clicked answers without reading any questions.
My advice: Study A LOT. Seriously. This test has barely anything to do with the study material, but it's the best you're going to be able to do. IMO this test is absolutely outrageous and designed to be a prohibitive barrier and nothing more, quizzing people on extraneous knowledge that does not parallel with the daily rigors of their career and highly insufficient preparation material. It might take a few tries to pass, no matter how well prepared you are. A big part of passing, for most, will definitely be sheer luck.
Oh by the way, if I come off as sounding bitter because I failed, I did not. I passed
Just a comment, after speaking with several who have taken both the 56 and the 7. The 7 has much better study guides than the 56 I'm told, and you end up with something that could transition into another job in the field.... and they waive the 56 for the 7, at least for now. So (even if you're not considering Bright for a CBSX firm), you might want to just take the darn 7... and, remember guys, it's just a test... every stockbroker passed it, how hard can it really be, LOL.
(just trying to lighten this up a bit, some of you seem to be traumatized by the silly thing, LOL)....
Anyway, just my 2 cents...
Don
I agree, I wanted to, but what I was told is that the firm is not able to sponsor for the series 7. Also, the traders I have spoken with who have had their series 7 elapse were not waived and needed to take the 56, even those with some serious experience.