Series 56 - LOL Thread

I agree with coolhand. I had passperfect material,scored 85( at least )on every practice test. However i failed the test... :( 64%
Only 5-6 questions had relevance to passp study guide. Very dissapointed with PP. Maybe they good at other exams,but 56? It's a joke.
 
What is covered on this exam if not the study material? I keep reading that barely any (5 or so questions) of the study guide material is on the exam? So what do the other 95 questions cover? Anyone? Anyone? Bueller?
 
Uhh, I though the PassPerfect stuff was decent...

I used it and passed just fine.

I will say that most of the questions are tough. It is not an easy exam. Knowing trading systems (NMS), options, and prohibited practices is key. That's most of the material.

The passperfect stuff covered it all, but, I was suprised at the level of detailed knowledge required on the actual exam. My strategy was to learn everything just well enough, and it worked; but, the exam asks *very* detailed questions. To be safe you have to learn everything in the study guide well.
 
i have purchased the material from the cboe and i am not real happy with it. the booklet that they charge you 99.00 is very unclear on a lot of material. i purchased the pass perfect system and i have found that it really explains things much better than the other material. i have not taken the test yet, but am putting in a few hours a day studying. been doing this for a few weeks now. we will see
 
This doesn't make any sense.

Why would the study guides not thoroughly cover the material??

I am going to be incredibly frustrated when I study hard for this exam and fail, not because I didn't know the material, but because the material in the study guides DO NOT accurately reflect what is on the test.

Is this some sort of trick by the government to keep high frequency traders out of the market??

From what I am hearing, even the people that have studied hard for the test are only passing by sheer luck.

This can't be right...
 
I believe the test is set by the CBOE, so it is even more incredible that their own manual doesn't prepare test takers adequately for the test. I've heard that PassPerfect is better, but I am using an in-house training manual to cover these topics again and I'll take the test next Thursday - giving me a day to close out my positions if I fail. Got 67% on my first try - just need to get a few percentage points more.
 
(Broken record time, LOL).. Why not just take the Series 7, have a license of further value, about a 70% passing rate, excellent study materials..... and it supercedes the 56.... (unless I'm missing something)

No need to answer of course....

Don :)
 
Quote from Don Bright:

(Broken record time, LOL).. Why not just take the Series 7, have a license of further value, about a 70% passing rate, excellent study materials..... and it supercedes the 56.... (unless I'm missing something)

No need to answer of course....

Don :)
More...

Don,


You can't get sponsored for series 7 at these firms, this was already mentioned in this thread.
 
Quote from jd7419:

Don,


You can't get sponsored for series 7 at these firms, this was already mentioned in this thread.
More...

Not sure what you mean by "these firms" - you mean they don't qualify with FINRA? That doesn't make much sense (but, as I said, I may be missing something)...

edit: I see where someone said they couldn't sponsor for S7... I still am confused a bit, perhaps not broker dealers or something... anyway, I hope it works out for those who feel they need to stick with the 56.

Don
 
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