Securities Trader Qualification Examination Series 57 Practice Exams

This practice exam book with four 50-question exams will help candidates pass the Securities Trader Qualification Examination (Series 57). It features material on each function covered on the Series 57 exam, including Understanding General Trading Practices; Trading Specific Products; Handling Customer Orders; Reporting Trades to the Designated Reporting Facility; Creating, Retaining and Reporting Required Records of Orders and Transactions; and Clearance and Settlement. After each practice exam the answers are shown with explanations. The answers also show what section of the syllabus the question is from and lists the FIRNA rules and SEC regulations that were the source of information in the question.

The practice exams have questions on Achieving Market Making Status; Understanding Order Types; Market Access; Identifying and Handling Clearly Erroneous Transactions; Display, Execution and Trading Systems; Identifying and Avoiding Prohibited Activities; Disseminating Quotes and Trade Advertisements; Initial Public Offerings (IPOs), Secondary Offerings and Safe Harbor; Non-listed and Penny Stocks; Options Trading; Handling and Executing Short Sales; Meeting Obligations to Customers Regarding Orders; Identifying and Avoiding Prohibited Practices; Regulation NMS; Reporting Trades to the Designated Reporting Facility; Creating, Retaining and Reporting Required Records of Orders and Transactions; and Clearance and Settlement.

About the Author
Philip Martin McCaulay has sold over 20,000 study guides in fields such as pensions, investments, finance, real estate, and math, including over 4,000 study guides and practice exam books for the Series 6, Series 7, Series 63, Series 65, Series 66, and SIE exams since he first started writing them in 2008, most of which were top 100 best sellers in the professional test guides category. He is an actuary with a degree in Mathematics from Indiana University. He is a Fellow of the Society of Actuaries (FSA) and an Enrolled Actuary (EA). He has over 40 years of experience as an actuarial consultant on pension funds. His investment experience includes assessing investment vehicles for providing retirement benefits, reviewing Statements of Investment Policy, identifying sources of investment risk, measuring investment performance relevant to given benchmarks, evaluating how cash flow requirements impact setting investment strategy, applying strategies for asset/liability management, estimating long-term rates of return for investment portfolios adjusting for variance drain, and providing advice and analysis to pension plan sponsors regarding the mitigation of investment risks.