Series 9
Series 9 - General Securities Sales Supervisor Qualification Exam (Part 2: Options)
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ExploreAbout this exam
The Series 9 is one half of FINRA's General Securities Sales Supervisor qualification - the limited-principal credential that lets a branch manager supervise sales activities rather than the firm's broader investment banking, trading, or financial-responsibility functions. It is taken alongside the Series 10, and both are corequisite with the SIE and the Series 7: a candidate must pass all four before the General Securities Sales Supervisor registration is approved. Candidates must be associated with and sponsored by a FINRA member firm or another applicable SRO member firm to sit for FINRA principal-level exams.
The Series 9 portion of the published content outline is organized into four major job functions and 55 exam items. Supervising the opening and maintenance of customer options accounts carries 18 items; supervising sales practices and general options trading activities carries 19; supervising options communications carries 5; and supervising associated persons and personnel management activities carries 13. That distribution is the only weighting FINRA publishes for this part, and it is a good budgeting tool: the two trading- and account-focused functions account for roughly two-thirds of the items.
Preparation should pair the content outline's function list with practice on account approval, options strategy suitability, communications review, and supervisory recordkeeping. FINRA does not publish a passing score, exam duration, or fee on the pages summarized here, so treat any specific figure you see elsewhere as unverified.
What you'll study
About Series 9 preparation
How many questions are on the Series 9?
FINRA's content outline allocates 55 exam items to the Series 9 portion: 18 on opening and maintaining customer options accounts, 19 on sales practices and general options trading activities, 5 on options communications, and 13 on associated persons and personnel management. The Series 10 is a separate 145-item exam.
Do I need other exams before or alongside the Series 9?
Yes. The Series 9 and 10 have corequisite requirements: you must pass the SIE and the Series 7 to hold the General Securities Sales Supervisor registration. All of the pieces must come together - passing the Series 9 alone does not produce a registration.
Can I take the Series 9 and Series 10 on the same day?
It is your choice. FINRA states candidates may take the two exams on the same day or on different days, and may choose which to take first. The registration is not approved until both are passed, so scheduling is a personal logistics decision rather than a rule.
How long do I have to pass both exams?
If both exams are not passed within two years of one another, the exam taken and passed is invalidated. That makes the two-year window the real deadline to plan around, especially if you space the Series 9 and Series 10 several months apart.
What happens if I fail - how soon can I retake?
Currently the waiting period is 30 days after a first or second unsuccessful attempt and 180 days after a third. Effective January 19, 2027 those periods drop to 15 days and 60 days. Requests to shorten a waiting period before that date will not be processed.
Does the Series 9 let me act as a registered options principal?
No. The Series 9 and 10 qualify a branch manager to supervise sales activities only. Broader oversight of the member's options business, including trading, advertising, and compliance, requires the Registered Options Principal Exam (Series 4). Municipal securities oversight similarly requires the Series 53.
How is this different from the Series 24?
The Series 24 is a general securities principal qualification covering all areas of the business, including underwriting, trading, market making, and financial responsibility. The Series 9 and 10 are limited principal exams focused on sales supervision - but unlike the Series 24, they do cover municipal securities and options.
Do I need a sponsor to register?
Yes. Candidates must be associated with and sponsored by a FINRA member firm or another applicable self-regulatory organization member firm to be eligible for FINRA principal-level qualification exams. You cannot self-register for the Series 9 the way you can for the SIE.
What is the most efficient study order?
Follow the item counts. The accounts function (18 items) and the sales practices and trading function (19 items) together dominate the exam, so build those first, then layer in the 13-item personnel management function and finish with the 5-item communications function.
Is there a published passing score or time limit?
FINRA's Series 9 and 10 pages summarized here do not state a passing score, exam duration, or fee. Those details come from the exam appointment and candidate materials, so confirm them through FINRA before you schedule rather than relying on secondhand numbers.