Series 14 – Compliance Officer Exam
The Series 14 exam — the Compliance Officer Qualification Exam (CR) — assesses the competency of an entry-level principal to perform their job as a compliance officer.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a compliance officer, including expertise in compliance processes and reporting requirements.
COVID-19 Guidance on FINRA-Administered Exams
FINRA and Prometric take the health and well-being of our community as a top priority. In response to the recent guidance from the US Centers for Disease Control and Prevention (CDC) related to the growing concerns about the Coronavirus (COVID-19), Prometric is closing its testing centers in the United States and Canada for a period of 30 days, starting March 18, 2020. Candidates who have an existing appointment will receive an email from Prometric with instructions on how to reschedule their appointment to a future date; rescheduling fees will not be applied. To change an existing appointment scheduled over 30 days (April 16 or later) or to schedule a new appointment, please access the Prometric website.
Additionally, FINRA is aware of the challenges that COVID-19 is presenting for our candidates who want to take exams. FINRA will extend all enrollment windows that are currently open and scheduled to expire by the end of May. Each FINRA-administered exam enrollment end date will be extended through the same end date of May 31, 2020.
Please visit FINRA’s COVID-19 / Coronavirus page for complete updates and guidance.
The Series 14 Content Outline provides a comprehensive guide to the range of compliance, regulatory and supervision topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the nine major job functions and knowledge areas of a compliance officer the table below lists the allocation of exam items for each major job function:
|Major Job Functions||Number of Exam Items|
|(F1) Regulatory Agencies||3|
|(F2) Markets and Operations||20|
|(F3) Broker-Dealer Operations||10|
|(F4) Credit Regulation/Capital Requirements||7|
|(F5) General Supervision||20|
|(F6) Investment Banking||15|
|(F8) Sales Practice – Customer/Employee Accounts||16|
|(F9) Sales Practice – Solicitations||10|
Candidates must be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization (SRO) member firm to be eligible to take FINRA principal-level qualification exams. For more information on registration requirements, refer to FINRA Rule 1210.
The Series 14 does not have a corequisite exam.
For more information on the registration process, see Register a New Candidate.
Covered supervisory activities include regulatory compliance over:
- Day-to-day activities of the firm