Series 55

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The Equity Trader Qualification Examination, or Series 55, qualifies an individual to trade equity and convertible debt securities on a principal or agency basis.

To register as an equity trader, an individual must first be qualified as a corporate securities limited representative (Series 62) or as a general securities registered representative (Series 7).

The Series 55 is a 3-hour, 100 multiple-choice question exam categorized as follows:

Category	Questions	% of Exam
Nasdaq and Over-The-Counter Markets	45	45%
Nasdaq Automated Execution and Trading Systems	9	9%
Trade Reporting Requirements	18	18%
General Industry Standards	28	28%

To pass the Series 55, a 70% is required (70 out of 100 questions must be answered correctly).

Series 55 Exam Fee: $80
(Effective January 1, 2005)