Series 9/10

Definition

The Series 9/10 is a licensing examination administered by the Financial Industry Regulatory Authority (FINRA). The exam certifies a professional to supervise a firm’s sales activities in corporate, municipal and options securities, investment company products, variable contracts, and direct participation programs. It’s essentially an approval for individuals to oversee branch activities and the professional’s capability to manage a brokerage firm.

Phonetic

The phonetics of the keyword “Series 9/10” would be expressed as: /’sIəriːz naɪn/ten/.

Key Takeaways

Sure, I’d be happy to help with that, but I’m going to need more specific information about what you’re asking. The terms “Series 9/10” could refer to various things, from an exam for financial professionals in the US to a model of some sort of device. If you could provide more context, I’d be glad to provide the main takeaways you’re looking for.

Importance

The Series 9/10 license is a crucial certification for professionals in the financial industry, particularly those in managerial or supervisory roles. It is granted by the Financial Industry Regulatory Authority (FINRA) and authorizes individuals to supervise sales activities in a firm for a range of investment products, including stocks, bonds, and funds. Holding a Series 9/10 license demonstrates advanced competency in sales practice rules, regulatory guidelines, and managerial responsibilities, providing validation of a candidate’s expertise in the industry. Thus, it significantly increases a person’s credibility and attractiveness to employers in the financial services field, often leading to enhanced career opportunities and potential for increased salary.

Explanation

The Series 9/10 is an exam that individuals must pass if they want to supervise sales activities at a general securities-oriented branch office. The Financial Industry Regulatory Authority (FINRA) administers the exam, which is for securities traders and personnel conducting business in direct support of securities business activities. It’s purpose is to assess whether an individual has the knowledge needed to perform critical functions of a general securities sales supervisor, including overseeing sales practices and compliance.The Series 9/10 exam is segmented into two parts – the Series 9 section focuses on options, whereas the Series 10 covers regulations and rules in the securities industry. Both sections primarily focus on responsibilities that include overseeing order and trade processing, maintaining customer accounts, trade practices and maintaining records. This examination process is critical in ensuring that branch managers are well-versed in their roles, helping to maintain transparency and integrity within the financial industry.

Examples

The Series 9/10 are securities licenses that the Financial Industry Regulatory Authority (FINRA) grants to financial professionals to oversee sales activities at a general securities-oriented branch office. Here are three real-world examples related to Series 9/10: 1. An Examinations Supervisor at a brokerage firm: Someone in this position is usually required to have Series 9/10 licenses. It allows them to supervise sales activities, hire personnel, oversee record-keeping processes, and ensure compliance with securities regulations at their branch office. 2. A Branch Manager at an investment banking firm: The Series 9/10 license qualifies a person to manage all the operations in one branch of a firm, oversee customer complaints, and regularly review customer accounts for suitability. 3. A hiring qualification for a Financial Services firm: If a financial services firm is hiring for a position that involves supervising sales activities in options, municipal securities, investment company products, and government securities, the job posting might indicate that a Series 9/10 license is either required or preferred. Having this license signals to employers that the individual has an advanced understanding of securities regulations and sales supervision.

Frequently Asked Questions(FAQ)

What is 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. It is conducted by the Financial Industry Regulatory Authority (FINRA).

What constitutes the Series 9 and Series 10 examinations?

The Series 9 exam, the General Securities Sales Supervisor Examination (Options Module), assesses one’s knowledge of securities industry rules and regulations concerning options. The Series 10 exam, the General Securities Sales Supervisor Examination (General Module), assesses one’s knowledge of securities industry rules and certain statutory provisions.

Who typically takes the Series 9/10 exam?

The Series 9/10 exam is typically taken by finance professionals who wish to become a general securities sales supervisor in a registered broker-dealer firm.

What is the structure of the Series 9/10 exam?

The Series 9/10 exam consists of two sections, the Series 9 and the Series 10. The Series 9 has 55 questions and lasts 1.5 hours. The Series 10 consists of 145 questions and lasts 4 hours.

What topics are covered in the Series 9/10 exam?

The Series 9 concentrates mostly on exchange-listed and OTC equity options, along with options accounts, sales supervision, and conduct rules relevant to options trading. The Series 10 mostly encompasses topics such as regulatory administration, financial responsibility rules, general securities rules and regulations, sales practices, SEC and FINRA rules, and more.

Can Series 9/10 licenses be maintained from the Continuing Education program?

Yes, licensed professionals must complete FINRA’s Continuing Education program to maintain their licenses. This includes a Regulatory Element to be completed after two years of registration and every three years thereafter, as well as a Firm Element, which is determined by the employer organization.

What prerequisites are needed before taking the Series 9/10 exam?

Before one can sit for the Series 9/10 exam, they must pass the Series 7 General Securities Representative Qualification Exam.

What is the passing score for the Series 9/10 exam?

The passing score for the Series 9 exam is 70%, and for the Series 10 exam, it is 70% as well.

Related Finance Terms

General Securities Sales Supervisor
FINRA (Financial Industry Regulatory Authority)
Securities Industry Essentials Exam (SIE)
Investment Banking
Equity Trading

Table of Contents