In the U.S., the median size of an IPO deal is worth an impressive $108 million. But if you’re eager to purchase, sell, or solicit corporate securities, you’ll need to join the ranks of the finest broker dealers in Atlanta. And in order to do that, you’ll need to take and pass your broker dealer exam and become a certified broker dealer. While you’ll also need to secure a sponsorship from an SRO or member firm, you’ll want to devote just as much focus and determination to passing all required FINRA licensing exams.
With that in mind, here are just three tips that will help you get the most you can out of your studying process and ace your broker dealer exam.
- Start Early: You might have become accustomed to cramming for a test in high school or college, but that’s simply not a feasible option when taking a broker dealer exam. You’ll need to give yourself plenty of time to absorb the information, review it thoroughly, and commit it to memory. For most people, it can take anywhere from 100 to 150 hours or more of studying time to feel truly prepared going into their broker dealer exam. Don’t assume this is a process you can rush. Even if you have a solid grasp on the material, you should plan to study over a longer period of time. That way, you’ll be able to recall all you’ve learned later on even after you pass the test.
- Think Beyond Formulas: It’s easy to get caught up in memorizing certain securities formulas, especially if you’re preparing for the Series 7 exam. But keep in mind that these tests are looking for more than your ability to recall a mathematic formula. In fact, most of the questions included relate to concepts you need to put into theoretical action. In other words, if you focus only on the formulas, you’ll be missing the bigger picture — and you may not be able to apply your knowledge in a practical way. While that doesn’t mean you should forget about pertinent formulas entirely, it does mean you need to study in a more holistic way.
- Take Practice Exams: When studying for your broker dealer exam, remember that you have resources at your disposal. Although you won’t know exactly what’s going to be included on the test, you can get a pretty good idea of what to expect by taking some practice exams. These are even more helpful than practice questions, as they emulate the style and difficulty of what you may see on your actual exam. These are also updated regularly to reflect new regulations, which can be highly beneficial. Since you can receive detailed feedback on the practice exams you take, you’ll get constructive criticism on what you still need to work on. The better your score on practice exams, the more likely it will be that you’ll pass the real test when the time comes.
Of course, passing your exam is just one aspect of obtaining your investment banking license. You’ll also need a broker dealer sponsorship — and we’re here to help. For more information on the Series 79/92 Sponsorships offered by Bridge Capital Associates, please contact our firm today.