According to the U.S. Securities and Exchange Commission (SEC), individuals wishing to work in the financial and securities industry must take the Securities Representative Examinations, in order to obtain appropriate licensing and credibility. The tests, administered by the Financial Industry Regulatory Authority (FINRA), are intended to cushion prospective public investors; by ensuring that General Securities Representatives are competent to perform their work.
Admittedly, these comprehensive assessments are not easy and require months of preparation, and sponsorship from active stockbrokers or dealers in the market. Nonetheless, securities license exam training enables one to practice and prepare for the tests beforehand. Generally, there are about 25 licensing examinations available for prospective financial services advisors in the US, depending on the exact fields they may wish to engage in. Some of the advantages of early preparation for these tests include:
One of the advantages of training for securities exams is that it creates familiarity. Candidates get a feel of the real examinations, which are usually intense five to six hour sessions consisting of hundreds of multiple-choice questions. Therefore, it is imperative for institutions that offer securities license exams training, to give students adequate exam preparation materials. These include easy-to-understand study materials and sample tests, for both online and actual students taking part in the course. Experience has shown that students who take the sample securities test repeatedly are more likely to succeed than those who do not.
As mentioned before, there are over twenty securities-related fields that candidates may choose from. For instance, the Series 3: National Commodities Futures Examination prepares one to sell future contracts and options. The Series 7: General Securities License Examination prepares individuals to solicit and sell various corporate, municipal, and government securities, to prospective investors. Generally, most tests must incorporate the basics of each field, in order to measure candidates’ suitability and experience. Securities license exams training encompasses the fundamentals of these financial fields, to give candidates confidence before the main exams.
Pre-examination anxiety stems from two main factors: lack of sufficient preparation and natural anxiety. Natural anxiety before a critical test such as the securities license examination, which can determine ones career direction, is understandable. This kind of anxiety usually ends logically, once the candidate relaxes and begins taking the test. However, the former anxiety has no remedy, since the candidate is responsible for lack of preparation. In order to tackle such anxiety, individuals wishing to take securities license examinations should adequately prepare for the test. The best way to do this is by enrolling for securities license exams training at an appropriate institution.
FINRA security licensing tests are mostly conducted digitally. The organization requires prospective financial representatives to seat for the exams at various accredited centers across the country. Once candidates finish the test, they receive their scores immediately. It is imperative to develop a strategy for managing the limited time available for completing the multiple-choice questions. This will provide ample time for rechecking, and substantiating that the answers given are correct. Thus, candidates should preferably register for securities license exam training, in order to develop timing strategies for answering questions accurately, and glancing over the test to make any corrections.
Success or failure in examinations heavily depends on ones attitude prior to the big day. First-rate preparation for securities licensing tests raises candidates’ confidence levels, giving them a positive outlook towards the exam. Lack of preparation on the other hand is recipe for tension and disaster during examination day.
Overall, the importance of thorough preparation for security licenses exams cannot be overstated. The results can determine the direction of one’s career in future. Therefore, it is critical for prospective candidates to register for securities license exam training. The coursework produces the six benefits outlined above, to ensure successful completion of examinations and consequent licensing by the government agency.