When a client goes to a professional for advice with investments, he or she trusts that person to make sound recommendations on what to do with a significant portion of their future security. With so much riding on the line, it’s understandable that the Financial Industry Regulatory Authority (FINRA) requires a certain level of knowledge for all workers who serve in this capacity, and the Series 65 exam is how they’re tested. If you’re hoping to work in this field, proper preparation is an important factor in a passing score on the assessment. Here are a few tips to get the most out of your Series 65 study materials during the weeks before your test.
Learn the Format
The first thing you should do when preparing for any major examination is get familiar with the subject matter and format for the test. The FINRA Series 65, which is also known as the Uniform Investment Adviser Law Exam, consists of 140 questions on topics like risk analysis, economic concepts and financial reporting. Ten of the queries serve a pretest function, so a passing score requires a candidate to correctly answer a minimum of 94 out of the remaining 130. You’ll have a total of three hours to complete the assessment.
Take Practice Tests
While it’s important to prepare for this exam, practice assessments are a great way to see if your efforts have been effective. When you purchase Series 65 study materials from any company, be sure that it also includes sample examinations that you can take under the same conditions that you would face on the big day. Based on your performance on these sample tests, you can focus on specific areas that might be weak spots.
Work With Colleagues
Even though you have to take the test on your own, it’s perfectly acceptable to form a study group with your peers to prepare for the exam. Not only will your colleagues help you stay on task when the urge to procrastinate sets in, but you can also pick each other’s brains for techniques and mnemonic devices to help memorize information. If you have a coworker who has already passed the assessment, feel free to use him or her as a real-world resource.
Don’t Burn Yourself Out
As you prepare for the examination, be sure to take time out of your preparation schedule to unwind from your studies, and time spent at work doesn’t count as a diversion. While it’s important to prepare for the test, there is such thing as overdoing it to the point where you don’t retain any of the information. Whether you take a night off to watch a football game or you go out for a few beers with your study group members, a well-timed break can be a very good thing every now and then.
Sound Advice for Your Clients
If you budget enough time, and take advantage of your Series 65 study materials, you’ll have a much better chance of passing the test than you will if you simply cram during the week leading up to the assessment. With future customers placing faith in your educated judgment, you owe it to them to learn this information to the best of your ability.