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Series 10: New Content Study Outline and Qualification Exam

Posted By: William R. James, Senior Securities Editor
Date: February 8, 2016

 

FINRA has created a new Series 10 Content Outline that will go into effect March 7. It is a significant departure from the current outline in that the test will be organized by job functions that are performed by a General Securities Sales Supervisor.

FINRA continuously updates rules to reflect the current state of the industry, but overall supervisory rules remain largely unchanged from year to year. Much of your current knowledge will remain useful.

The newest iteration of the Content Outline calls for a reorganization of materials and a move toward making the questions pointed more toward specific tasks of a General Securities Sales Supervisor to reflect the day-to-day activities associated with the job. In other words, the test is going to get more practical and true to life. As we have seen in other principal-level exams where that has already taken hold, this could be good news for those who prefer a more hands-on approach to supervisory questions. The Series 10 is a supervisory management exam. It is not like the Series 7. This exam will challenge your ability to find not the only solution, but the best solution to difficult situations.

Number of Items by Job Function (Effective March 7)
 

FunctionFINRA Major Function TitleQuestions
1Supervise Associated Persons and Personnel Management Activities28
2Supervise the Opening and Maintenance of Customer Accounts49
3Supervise Sales Practices and General Trading Activities52
4Supervise Communications with the Public16

Each of these functions is covered in the current edition of your Series 10 LEM, but labeled and weighted to suit the current Content Outline. We are now working to provide you with an updated product to match the revision coming in March.

Fortunately, many aspects of the exam remain the same. The passing score remains 70%, a Series 7 license remains a prerequisite for the exam, and lastly, the number of questions and time to take the test remains the same. Check back from time to time, as we will keep you apprised of any further developments.

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