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