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).
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 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 Suitable 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.