Series 82 - Private Securities Offerings Representative Exam (PR)

The Series 82 exam—the Private Securities Offerings Representative Exam (PR)—assesses the competency of an entry-level representative to perform his or her job as a private securities offerings representative. The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a private securities offering representative, including the sale of private placement securities as part of a primary offering.

The exam consists of 100 test questions. Candidates have two hours and 30 minutes to complete the exam. The passing score is 70 percent.

Please see NASD Rule 1032(h) Private Securities Offerings Representative for more information.

Content Outline


The Series 82 - Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. It includes sample questions to acquaint a candidate with the types of multiple-choice questions on the exam.

The outline consists of four sections :

  • Section 1 — Characteristics of Corporate Securities
  • Section 2 — Regulation of the Market for Registered and Unregistered Securities
  • Section 3 — Analyzing Corporate Securities and Investment Planning
  • Section 4 — Handling Customer Accounts and Industry Regulations

Download: Series 82 - Content Outline

Eligibility


The Series 82 does not have a prerequisite exam. Please see Register a New Candidate for more information on the registration process.

Permitted Activities


Covered activities and products include the solicitation and sale of private placement securities as part of a primary offering.

Taking the Exam


The table below lists the allocation of questions for each topical section in the Series 82 exam.

Sections Number of Questions
Section 1 — Characteristics of Corporate Securities 13
Section 2 — Regulation of the Market for Registered and Unregistered Activities 45
Section 3 — Analyzing Corporate Securities and Investment Planning 16
Section 4 — Handling Customer Accounts and Industry Regulations 26
TOTAL 100

Using Reference Materials


The test administrator will provide whiteboard/dry erase marker and basic electronic calculators to the candidates, which must be returned to the test center administrator at the end of the testing session. Some test questions involve calculations. Only the provided calculators may be used during the examination.

The examination may contain questions that require the use of exhibits (e.g., charts, graphs, tables). If so, the questions will indicate when to refer to an exhibit.

Candidates are not permitted to bring any reference materials to testing sessions. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA administered examinations.

To learn more about logistics and protocols for your exam day, please see On The Day of Your Exam.