SERIES 42

Series 42 is an examination under the Financial Industry Regulatory Authority (FINRA) to become licensed options representatives of brokers/dealers or principal that are member of FINRA. Series 42 was made to challenge the knowledge of test takers regarding the options terminology, customer account management, record-keeping, overall broker conduct, trading strategies,and settlement practices. The exam is composed of 50 questions to be accomplished within 1.5 hours with a passing grade of 70%.