What is Series 9/10?
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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 office. Before taking the Series 9/10 Exams, also known as the General Securities Sales Supervisor Qualification Exams, a candidate must have a Series 7 license.The Series 9/10 covers topics such as the supervision of options and general securities sales and trading practices in primary and secondary markets. The Series 9/10 exams are administered by the Financial Industry Regulatory Authority (FINRA) and were formerly known as the Series 8 Exam. As the name would suggest, the exam is broken into two parts; the Series 9 is the shorter and covers options sales and trading, as well as regulation and administration. Series 10 represents a deeper dive into a similar but broader range of topics and requirements.
Definition
The Series 9/10 is a two-part securities exam and license that authorizes holders to supervise sales activities at a securities firm's headquarters. It is also known as the General Securities Sales Supervisor Qualification Examination.
Origin
The Series 9/10 exam is administered by the Financial Industry Regulatory Authority (FINRA) and was originally known as the Series 8 exam. It evolved into its current form to better cover the supervision of options and general securities sales as financial markets became more complex.
Categories and Features
The Series 9/10 exam is divided into two parts: Series 9, which is shorter and focuses on the supervision and management of options sales and trading; and Series 10, which delves deeper into broader securities sales and trading practices. Candidates must first pass the Series 7 exam before taking the Series 9/10.
Case Studies
Case Study 1: An employee at a financial firm, after passing the Series 7 exam, pursued the Series 9/10 to qualify for a higher management position. Upon passing, they were responsible for overseeing the securities sales activities at the firm's headquarters. Case Study 2: A supervisor at another securities firm, after passing the Series 9/10, was able to more effectively manage the options trading team, ensuring compliance and efficient operations.
Common Issues
Common issues include the difficulty of the exam and preparation time. Candidates typically need several months to prepare, especially for the extensive content of Series 10. Another common misconception is that no further certification is needed after passing the Series 7, but Series 9/10 is necessary for higher supervisory authority.
