Series 82 – Private Securities Offerings Representative Exam
The Series 82 exam — the Private Securities Offerings Representative Exam — assesses the competency of an entry-level registered representative to perform their job as a private securities offerings representative.
The Series 82 exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a private securities offerings representative, including solicitation and sale of private placement securities products as part of a primary offering.
Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 82 exam to obtain the Private Securities Offerings Representative registration. For more information about the SIE and Series 82 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(9).
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. The outline is comprised of the four major job functions of a private securities offerings representative. The table below lists the allocation of exam items for each major job function.
|Major Job Functions||Number of Exam Items|
|(F1) Seeks Business for the Broker-dealer from Customers and Potential Customers||25|
|(F2) Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives||9|
|(F3) Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records||13|
|(F4) Obtains and Verifies Customers’ Purchase Instructions and Agreements; Processes, Completes and Confirms Transactions||3|
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 representative-level qualification exams. For more information on registration requirements, refer to FINRA Rule 1210.
The SIE exam is a corequisite to the Series 82 exam. Candidates must pass both the Series 82 exam and the SIE exam to obtain the Private Securities Offerings registration.
For more information on the registration process, see Register a New Candidate.
A candidate who passes the Series 82 exam is qualified for the solicitation and sale of private placement securities products as part of a primary offering.