Series 82 case studies
Series 82 · Put your knowledge to work in context.
The Series 82 – Private Securities Offerings Representative Exam is a FINRA qualification exam that assesses the competency of an entry-level registered representative to perform the job of a private securities offerings representative. A candidate who passes it is qualified for the solicitation and sale of private placement securities products as part of a primary offering. The Series 82 case studies are 5 cases and about 2,860 words.
1The Seminar List, the Vendor List, and a 506(b) Offering
You are a private placements representative at a mid-size broker-dealer. An issuer client is raising $8 million under Rule 506(b) using a deck your principal approved.
640 words, about 3 min2A 506(c) Verification Package That Does Not Verify
Your firm is placing a 30 million Rule 506(c) offering with a 250,000 minimum. A prospective investor, Dr.
578 words, about 3 min3The 74-Year-Old Client Who Wants 44% in One Drilling Program
Customer Margaret, 74, retired, has 900,000 in liquid net worth and 60,000 a year from a pension plus Social Security. She has been your customer for six years with a moderate risk profile.
570 words, about 3 min4Gifting Restricted Units and Stripping the Legend
A customer holds $150,000 of units in a private, non-traded REIT bought 11 months ago through your firm. The unit certificate carries a restricted legend, and the operating agreement requires issuer consent plus an opinion of counsel for any transfer.
562 words, about 3 min5The Wire Instruction That Changed at 11:40 A.M.
An LLC customer has signed subscription documents for a $500,000 private placement closing today at 3:00 p.m. you receive an email from the member's address directing that the wire go to a new bank account in another state because 'our old account is frozen.' The email domain is one character off from the one on file, the signature block has no phone number, and the subscription agreement is signed by a different member than the one who normally signs.
510 words, about 3 min