Finra to update adviser exams

Finra yesterday began surveying registered representatives and principals about their job functions as a first step in updating qualification exams.
JUN 28, 2011
Finra yesterday began surveying registered representatives and principals about their job functions. The information will be used to update qualification exams for the Series 6, 16, 24 and 26 licenses. Examinations are developed and updated to cover “critical functions qualified individuals perform,” the Financial Industry Regulatory Authority Inc. said in a notice posted on its website this week. “Finra encourages survey recipients to participate to help ensure that examination content accurately reflects the jobs they perform,” the notice said. The Series 16 is for supervisory analysts, the 24 is the general securities principal exam, the 26 qualifies principals for mutual fund and variable annuity sales, and the Series 6 is for representatives who sell funds and variable annuities. Finra is sending surveys to individuals who maintain these registrations. An update of the widely used Series 7, which qualifies people to sell any type of security, is already under way, according to said Nancy Condon, a Finra spokeswoman.

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