A breakdown of the nuts and bolts of the Series 56 Exam.

If you already have an active Series 7 license you will be waived from having to take the Series 56 Exam. You will need to fill out the following link below, however you must first be registered with a FINRA or CBOE-CBSX broker-dealer as it asks for your CRD#. Your compliance officer will be able to provide you with this number once you are registered with the firm.

If your Series 7 license expired chances your going to have to take the Series 56 exam. Some traders were lucky enough to have their 7 reinstated when the 56 first came out, but this no longer seems to be the case as the CBOE/FINRA has become very strict with this. 

https://www.cboe.org/examwaiver/


Proprietary Traders Qualification Examination Content Outline
Price: $200
Proprietary Trader Examination - (Series 56) (CBOE) - 100 multiple choice questions; 2 ½ hours testing time. This examination qualifies an individual to conduct business as a proprietary trader with certain exchanges. These exchanges include the Chicago Board Options Exchange (CBOE), C2, The International Stock Exchange (ISE), and the National Stock Exchange (NSX).FINRA does not recognize this exam under its registration rules.
    
https://www.cboe.org/examwaiver/Series56ContentOutline.pdf


Current Series 56 Study Material Available

CBOE: Stock Exchange
Price: $99  
The Options Institute has prepared a Study Guide for the Series 56 exam. This Study Guide is now available by contacting Laura Johnson at 312-786-7818 or johnsonl@cboe.com. The cost of the material is $99 per person and includes the Study Guide and access to sample exam questions available through The Options Institute's online exam system. Discounts will be given based on the number of individuals for which a Firm is requesting the materials.

TheSeries56.com
Manual: $149  Exams: $49 
STUDY MANUAL This 170 page study manual produced by our market educators takes you step by step through the 5 essential sections covered by the Series 56 Exam. Purchase of this product includes a soft cover and web version as well as the 160 question practice test.TEST QUESTIONS 160 question practice test with explanations available only in web access.

PassPerfect 
Manual and Practice Exams: $150
The Self Study program covers: Equity Securities, Options, Strategies, Trading Markets, Trading Practices, Trading Systems, Five simulated Final Exams with detailed explanations complete the program. (over 400 pages, with over 600 simulated examination questions with detailed explanations)  

Good luck and any questions feel free to reach out. 

I live in NYC and am selling the Pass Perfect book and 4 practice exams it comes with for $75.00. I also have TheSeries56.com book I will sell for $50. This is half the it costs from their websites. Send me a message with your contact details to arrange a meet up.

Mike, thanks for the study notes i passed the Series 56 on Friday!! 2nd time was a charm :) Will be back in the trade room on Monday.

Hi Mike, where do you post your notes about the series 56?? I'm going to take it this month. First time 65% fail...hope I can pass it second round..thank you!