“Series 79,” as it is known, refers to the “Series 79” refers to an examination taken by financial professionals who want be investment bankers. The test, conducted through the Financial Industry Regulatory Authority (FINRA) is a test that tests the competence of those who wish to be employed in the field of investment banking. It is a way of ensuring that authorized representatives possess the expertise and expertise required to function as investment bankers , by conducting tests in a variety of key areas. Anyone who wants to sit for the test need to be sponsored by an FINRA member company.
Understanding Series 79
The Financial Industry Regulatory Authority is an independent organization which supervises brokerage firms, broker-dealers and investment bankers within the United States. To be certified by the agency professional financial advisors must take certain tests that test their knowledge as well as their skills and expertise in specific activities related to securities. When they pass the exam, they are certified in the field of specialization. 1
One of the examinations provided through FINRA can be found in one of the exams offered by FINRA is Series 79 exam or the Investment Banking Representative Exam. It tests the degree of skills, knowledge and ethical background that the candidates possess for investments banking roles that include mergers and acquisitions (M&A), buyouts as well as the financial transformation. 2
The test is designed to be taken by authorized representatives who have financial skills that are more specific than people who sit for the exam, the Series 7 test and is specifically designed for stockbrokers. It is a restructured exam for stockbrokers. Series 79 exam was restructured in October of 2018. It’s now a prerequisite alongside an exam called the Securities Industry Essentials (SIE) exam–both of which must be cleared in order to obtain an Series 79 license.
Series 79 Focus
The test consists of 75 multiple choice questions. Each question offers four options. There are 10 unscored questions that are posed throughout the exam but aren’t labeled. The exam is split and the questions are divided according to the following:
Prerequisites to Series 79
There is no prerequisite for taking an exam for the exam, although candidates must be able to pass the SIE exam, which is a prerequisite. 4 Candidates are, however, required to be sponsored by an FINRA or self-regulatory association member company before they are able to pass the test. A fee of $245 cost is required in order to take the test. 2
Series 79 Permitted Activities
As previously mentioned in the previous paragraph, as mentioned above, the exam tests individuals in the areas of knowledge and expertise required to operate in the investment banking sector. If they are able to pass the Series 79 and become licensed are able to engage in the following tasks:
- Equity and debt offerings include private placements and public offerings
- Acquisitions and mergers
- Tenders offers
- Financial restructurings
- Asset sales
- Dissolutions and other forms of corporate restructuring
- Business combination transactions 2.
Series 79 Questions Topics
There are several various prep courses and resources available to candidates who require some direction before they take the test. Here is a list of subjects covered by the test.
As previously mentioned This topic deals with the gathering, analysis, and analysis of data. Topics covered include trend and company analysis, securities offerings and M&A activities. The participants are also tested by analyzing investor as well as shareholder data and financing opportunities for companies, and an examination of the due diligence procedure. 5
This test tests the candidate’s understanding of issues related with the underwriting process and financing for new projects, in addition to various types of securities registration and offerings. Candidates may be required to answer questions regarding filing conditions, underwriting agreements, underwriting commitments, and details concerning financing agreements (record the registration, billing, and closing transactions). 6
The final section of the test is to test knowledge about M&A tender offers and restructuring financial transactions. Candidates are likely to be tested on their understanding about selling-side M&A transactions (set to be completed through marketing as well as marketing and finalization) as well as buy-side transactions as well as the regulations regarding tender offers, as well as claims in bankruptcy. 7
Series 79 Exam Details
The test is closed book. Candidates are not permitted to bring any study materials while taking the test. 4 It is possible to take the test in a test center near you or even proctored online. 8 Exam centers offer scratch paper, four-function calculators and pens, as well as noise-canceling headphones as well as tissues (if necessary). 9 If you choose to take the online option have to go through an inspection process and sign-on requirements. They are provided with an online calculator and a virtual notepad for the test.
Series 79 FAQs
Does this the Series 79 Harder Than the SIE Exam?
This exam is generally thought to be more challenging as compared to Securities Industry Essentials (SIE) test. The SIE exam is typically completed first, and in that sense, is considered an introduction for the exam, which examines candidates on concepts at a the more advanced and advanced levels.
What does having the Series 79 License Allow You to do?
People who take the test and receive the Series 79 license work in the investment banking industry as bankers or analysts. They are licensed to provide advice to clients, assist in facilitating equity and debt offerings, be involved with mergers and acquisitions, submit tender offers, manage asset sales and financial restructuring and corporate restructuring.
What is the series 79 Test for the Top Off Exam?
The Series 79 top-off exam tests those who wish to be authorized to market securities from investment banks. It’s part of the process to earn an Series 79 license.
How Long Will It Take to Prepare to pass the Series 79 Exam?
The amount of time required to prepare to pass preparation for the exam depends on the student. It can take anywhere between 60 to 100 hours in order to prepare for the test. Candidates who are interested can purchase a set of preparation materials at a cost.
Does this the Series 79 Exam Computer-Based?
You have to take the exam on a computer, in the same way you would take any other securities examination.
When is the best time to take the Series 79 Exam?
The test can be taken within 120 days from the date that you sign up. It is necessary to make an appointment at the time that is available within that 120-day time frame following the completion of the enrollment.
What is the passing score in Series 79 Exam? Series 79 Exam?
It is essential to score at minimum 73% if wish to be able to pass this exam.
What is the time I have to Wait To Retake the Series 79 Exam if I fail?
It is required to wait for 30 days before being able to take your Series 79 exam if you fail. The waiting period can be increased to 180 days in the event that the test fails three times succession. Your employer must provide a new sponsor before sitting down to take a retake. Also, you are required to pay the full amount for every attempt you make to sit for the test.