Series 87

No. This is an independent study resource written for candidates preparing on their own. It is not affiliated with, endorsed by, or sponsored by FINRA. Registration, scheduling, fees and scoring are handled solely by FINRA, so treat everything here as study support and verify all exam logistics directly with FINRA before you book a seat.

Available information lists multiple choice as the format. FINRA sets the item count, time allowance, and scoring for its qualification exams and publishes those details on its Registration, Exams & CE pages, so check the official exam page rather than relying on secondhand summaries, which frequently carry outdated numbers.

Those specifics are not published in the source material used for this page, so they are intentionally left unstated rather than guessed. Exam blueprints are revised periodically and older figures circulate widely online. Confirm the current item count and time allowance on FINRA's qualification exams section before you build a pacing plan.

FINRA establishes the passing standard for each qualification exam and does not publish a simple percentage figure here. Do not plan around a rumor you read in a forum. Check FINRA's exam page or ask your firm's registration team for the current passing requirement, and aim to be comfortably above any minimum rather than at the edge.

Retake rules, waiting periods and any associated conditions are set by FINRA, not by prep providers, and the specifics are outside the source material for this page. Ask your firm's registration or licensing contact, or consult FINRA's exam page, before assuming how soon a second attempt is possible.

FINRA qualification exams are generally tied to registration through a FINRA member firm, and industry professionals handle registration, records and compliance tasks through systems such as the FinPro Gateway. Confirm your eligibility and filing requirements with your firm's registration team before scheduling anything.

Start with research report content and standards, because disclosure placement, rating definitions and report elements reappear in every other section. Move next to conflicts of interest and prohibited conduct, then communications and public appearances, and finish with supervision and recordkeeping. Saving supervision for last lets you consolidate the rules you have already learned.

Memorizing labels instead of applying standards. The exam rewards judgment in realistic situations: an analyst helping draft marketing material, a rating change discussed before publication, a media appearance, a quiet period question. Practice explaining why an action is permitted or prohibited, not just naming the rule that sounds closest.

Rules and guidance change. Go to FINRA's Rules & Guidance section - the FINRA Manual, Notices, Guidance and Frequently Asked Questions - for authoritative and current text. Read the primary rule language for each topic you study rather than relying on an outline that may predate a revision.

No official preparation hours are published, so set your own schedule based on how familiar you already are with FINRA rules. A workable approach is short, frequent sessions that pair rule reading with practice questions, followed by a review of every missed item until you can explain the reasoning without notes.