Series 39 study plan

Describe the principal DPP structures (limited partnership, LLC, real estate program, oil and gas program) and explain how each raises and deploys capital

Distinguish the roles, fiduciary duties, and liability exposure of general partners versus limited partners

Outline the federal registration pathway for a DPP offering from initial filing through closing and post-closing reporting

Define core offering terms: minimum and maximum offering amounts, escrow and impound conditions, subscription procedures, and breakpoints

Analyze the suitability analysis a representative must perform before recommending a DPP, including the customer-specific factors

Calculate and compare sales loads, sponsor compensation, and organizational expense allocations across program types

Interpret how escrow, impound, and minimum-offering conditions protect subscribers when an offering does not close

Explain how distributions, depletion, leverage, and tax benefits interact to shape an investor's economic outcome

Apply Securities Act and state blue-sky registration and exemption concepts to DPP offerings

Distinguish the rules governing roll-ups, resales, and limits on the secondary market for DPP interests

Summarize disclosure requirements for sponsor conflicts, prior performance, and compensation

Complete a timed 50-item F1 section without notes

Re-teach the two weakest F1 subtopics identified in the week 3 breakdown

Complete one full-length practice exam under exam-day timing conditions

Build a written error log categorizing misses as knowledge gaps, misreads, or rule confusion

Sketch the F2 topics that overlap with DPP sales practices so the transition week is planned

Apply FINRA rules on retail communications, correspondence, and advertising to DPP marketing materials, including approval and recordkeeping

Classify gifting, entertainment, and non-cash compensation practices against applicable limits

Design supervisory procedures for outside business activities and private securities transactions

Draft the approval workflow a firm should follow before a DPP piece is used with the public

Outline registration, qualification, and continuing education obligations for representatives and supervisors

Distinguish the disciplinary process, statutory disqualification triggers, and reporting obligations for regulatory events

Explain the arbitration and mediation forum, customer complaint handling, and the disclosure of complaints

Compare the roles of FINRA, the SEC, and state regulators in supervising a member firm

Identify which activities and business lines trigger financial responsibility obligations and which records support them

Work through a simplified net capital computation and identify the adjustments that most often change the result

Apply the concepts behind the customer protection reserve formula and segregation of customer assets

List required books and records, report filing deadlines, and early-warning notification obligations

Retake two full-length practice exams under timed conditions

Re-drill every item in the error log until each is answered correctly with a stated rationale

Re-allocate remaining study hours to the two lowest-scoring domains from the week 4 and week 8 exams

Write a final one-page rule-recall sheet for high-frequency numeric limits and deadlines