The Number One Reason People Fail Securities Exams
March 1, 2020 | Last updated: March 2, 2020
By: Jeffrey Van Blarcom
Can I just take the practice questions and pass the exam?
NO! it is amazing how many times we hear people asking this question. Even worse, is how many times we hear that someone has failed the exam because all they did was take practice questions or maybe just “skimmed” through the book. Just taking practice questions will NOT prepare you well enough to pass any FINRA, NASAA or NFA exam. There are no shortcuts to reading the book and putting in the required time to prepare for the exam. It does not matter how long you have been in the business or how well educated you are. You are not using the knowledge required on the exam in your REAL Life! Additionally, Firm rules are often very different from the rules and regulations being tested. Firms often have rules in place that are far stricter than the minimum level required by FINRA or NASAA. Many exams require you to have a complete understanding of material you have never used and will never use.
A Recent Case Study:
John was one student who has been a proprietary trader at a large hedge fund for years. He has been extremely successful financially and has been “on the street “ for the better part of two decades. His firm was now requiring him to get licensed as part of a new compliance initiative. Figuring that his knowledge of the markets would get him through the exam, John purchased a test bank of questions and took practice tests over and over until he thought he was ready to pass the exam. Two days after taking his test John called in shell shocked having gotten a 60 on his test. His ego was obviously still wounded by his performance. He now realized that his success in the industry and on the trading desk was not enough to get him passed the exam. He ordered the textbook and video classes and spent 3 weeks reading the textbook and watching the video class instruction after the market closed and on weekends. After his 30 day waiting period was over he retook the exam and passed with an 84.
There are two aspects to passing any FINRA, NASAA or NFA exam.
1) You must have a full and complete understanding of the knowledge being tested
2) You must be able to apply the knowledge on the test in the way the test wants you to apply the knowledge
The Wiley Exam Review textbooks written by The Securities Institute are designed to provide you with the knowledge required by the exam. The Wiley textbooks are packed with test tips, sample questions and all the must know information you need to pass your exam
Our video class instruction provides you with additional detail and shows you how the information is going to be presented on your exam.
The exam prep software is designed to help you practice applying the knowledge you have acquired, NOT to provide you with a complete understanding of the material. Our exam prep software allows you to take practice tests anytime, anywhere using any PC, Mac, Phone or Tablet. You can create your own randomized quizzes and select the topics, number of questions, and how and when answers are revealed to you, to match your learning style, randomized finals let you know when you are ready to take the test.
In short, do not waste your time trying to pass an exam by just doing the practice tests. You will be rescheduling your exam 30 days later.
Pass your exam guaranteed or your money back with our green light guarantee.
Good luck on your exam!
The Securities Institute of America
For more than 25 years we’ve helped students pass over 250,000 exams and we’ve done so with industry leading pass rates!