Amana Learning Center Securities		Securities and Exchange Commission Municipal Securities Rulemaking Board Financial Industry Regulatory Authority ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA GUAM HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Amana Menu

Securities   The Financial Industry Regulatory Authority (FINRA) in conjunction with other self-regulatory organizations administer the "Series" license examinations. After test preparation, the license candidate must submit either a U-4 or U-10 form to FINRA and schedule to sit for the license exam with either Pearson or Prometric. Registered Representative - Persons associated with a member, including assistant officers other than principals, who are engaged in the investment banking or securities business for the member including the functions of supervision, solicitation, or conduct of business in securities or who are engaged in the training of persons associated with a member for any of these functions, are designated as representatives. Registered representative licenses are Series 3, 6, 7, 11, 22, 30, 31, 52, 63, 65, 66, 82. Registered Principal - Persons associated with a member who are actively engaged in the management of the member's investment banking or securities business, including supervision, solicitation, conduct of business, or the training of persons associated with a member for any of these functions are designated as principals. Such persons include sole proprietors, officers, partners, managers of offices of supervisory jurisdiction, and directors of corporations. Registered principal licenses are Series 4, 9, 10, 24, 26, 27, 28, 39, 53.         Series 3 Series 24 Series 53   Series 4 Series 26 Series 62   Series 6 Series 27 Series 63   Series 7 Series 28 Series 65   Series 9 Series 30 Series 66   Series 10 Series 31 Series 82   Series 11 Series 39     Series 22 Series 52                 Series 3 - Commodity Futures Merchant The National Futures Association administers the Series 3 exam. The National Commodity Futures Examination contains 120 true/false and multiple choice questions. Two and one-half hours is allotted for completion of the examination. A minimum score of 70% on each of the two sections of the examination is required for passing.            Series 4 - Registered Options Principal 125 multiple choice questions; 3 hours testing time. This examination is required of an individual who will function as a registered options principal, compliance registered options principal, or senior registered options principal. The Series 4 tests the individual's knowledge of options trading, exchange rules, and regulations applicable to the trading of options contracts, as well as the rules of the Options Clearing Corporation.           Series 6 - Investment Company Products 100 multiple choice questions; 2 hours and 15 minutes testing time. This examination qualifies an individual who will function as a limited representative for the solicitation, purchase, and/or sale of redeemable securities of companies registered pursuant to the Investment Company Act of 1940; securities of closed-end companies registered pursuant to the Investment Company Act of 1940 during the period of original distribution only; and variable contracts and insurance premium funding programs and other contracts issued by an insurance company.           Series 7 - Registered Representative 250 multiple choice questions - administered in two parts of 125 questions each; 3 hours testing time for each part. This registration qualifies a candidate for the solicitation, purchase, and/or sale of all securities products, including corporate securities, municipal securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts.           General Securities Sales Supervisor - Series 9 & 10 200 multiple choice questions. The testing time is 1 hour and 30 minutes for the Series 9, which contains 55 options questions. Four (4) hours are allowed for the Series 10, which has 145 questions covering FINRA, New York Stock Exchange, Municipal Securities Rule Board, and Securities and Exchange Commission rules. This registration is appropriate for individuals required to register as principals to supervise sales activities in corporate, municipal, and options securities, investment company products, variable contracts, and direct participation programs. In addition to branch office managers, regional and national sales managers may also register in this capacity.           Series 11 - Order Processing 50 multiple choice questions; 60 minutes testing time. This examination is designed for persons associated with a member who accept unsolicited customer orders for submission for execution by a member. They cannot accept orders for municipal securities or direct participation programs.           Series 22 - Direct Participation Investments 100 multiple choice questions; 2 hours and 15 minutes testing time. See the description of the products covered by this registration under the Series 39 description.           Series 24 - General Securities Principal 150 multiple choice questions; 3 hours and 30 minutes testing time. This examination qualifies individuals required to register as general securities principals in order to manage or supervise the member's investment banking or securities business for corporate securities, direct participation programs, and investment company products/variable contracts. The Series 24 does not qualify an individual to function as a:            Registered Options Principal General Securities Sales Supervisor for Options and Municipal Securities Municipal Securities Principal Municipal Fund Securities Principal Financial and Operations Principal Introducing Broker/Dealer Financial and Operations Principal           Series 26 - Investment Company Products 110 multiple choice questions; 2 hours and 30 minutes testing time. This examination qualifies an individual who will function as a principal for the solicitation, purchase, and/or sale of redeemable securities of companies registered pursuant to the Investment Company Act of 1940; securities of closed-end companies registered pursuant to the Investment Company Act of 1940 during the period of original distribution only; and variable contracts and insurance premium funding programs and other contracts issued by an insurance company.           Series 27 - Financial Operations 145 multiple choice questions; 3 hours and 30 minutes testing time. The Series 27 is designed to test a candidate's knowledge and understanding of financial responsibility rules and recordkeeping requirements.           Series 28 - Introducing Broker 95 multiple choice questions; 2 hours testing time. This examination is required for the individual responsible for the recordkeeping requirements of introducing firms that do not carry customer accounts or hold customer funds or securities.           Series 30 - Branch Manager 50 multiple choice questions; 60 minutes testing time. This examination is required by the National Futures Association.           Series 31 - Futures Managed Funds 45 multiple choice questions; 60 minutes testing time. This examination is required by the National Futures Association.           Series 39 - Direct Participation Programs 100 multiple choice questions; 2 hours and 15 minutes testing time. This qualifies an individual who will function as a principal for the solicitation, purchase, and/or sale of programs that provide for flow-through tax consequences, such as oil and gas programs, real estate programs, and S corporation offerings.           Series 52 - Municipal Securities 100 multiple choice questions; 3 hours testing time. In addition to municipal securities, municipal fund securities (e.g., 529 College Savings Plans, Local Government Investment Pools (LGIPs)) and municipal markets, this examination covers U.S. government, federal agency, and other financial instruments, economic activity, government policy, the behavior of interest rates, and applicable federal securities laws and regulations.           Series 53 - Municipal Securities Principal 100 multiple choice questions; 3 hours testing time. This examination is designed to test a candidate's knowledge of the rules and statutory provisions applicable to a municipal securities broker or dealer and to the supervision of the activities of municipal securities representatives.  This exam also enables the principal to supervise municipal fund securities (e.g., 529 College Savings Plans, Local Government Investment Pools (LGIPs)).           Series 62 - Corporate Securities 115 multiple choice questions; 2 hours and 30 minutes testing time. This examination qualifies an individual as a representative for the sale of public offerings and/or private placements of corporate stocks, corporate bonds, rights, warrants, real estate investment trusts, collateralized mortgage obligations, and securities of closed-end companies registered pursuant to the Investment Company Act of 1940, repos and certificates of accrual on corporate securities; securities traders; mergers and acquisitions; venture capital; corporate financing; ETFs, and hedge funds.           Series 63 - Uniform Securities Agent 60 multiple choice questions; 1 hour and 15 minutes testing time.  The Series 63 is designed to qualify candidates as securities agents. The examination covers the principles of state securities regulation reflected in the Uniform Securities Act.           Series 65 - Investment Adviser 130 multiple choice questions; 3 hours testing time.  The Series 65 is designed to qualify candidates as investment adviser representatives.           Series 66 - Uniform Combined State Law 100 multiple choice questions; 2 hours and 30 minutes testing time.  The Series 66 is designed to qualify candidates as both securities agents and investment adviser representatives.  The Series 7 is a corequisite exam that needs to be successfully completed in addition to the Series 66 exam before a candidate can register with a state.           Series 82 - Private Securities Offerings 100 multiple choice questions; 2 hours and 30 minutes testing time. This examination qualifies an individual for the sale of private placement securities as part of a primary offering.