Preparatory Course Series 14 Compliance Officer Exam (FINRA)
Series 14 – Compliance Officer Exam
The Series 14 exam — the Compliance Officer Qualification Exam (CR) — assesses the competency of an entry-level principal to perform their job as a compliance officer.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a compliance officer, including expertise in compliance processes and reporting requirements.
Permitted Activities
Covered supervisory activities include regulatory compliance over:
- Day-to-day activities of the firm
Information is based on contents from https://www.finra.org/registration-exams-ce/qualification-exams/series14
Regulatory Agencies
1
Disciplinary Capabilities and Procedures
Markets and Operations
1
Sales, Trading Practices & Surveillance
Broker-Dealer Operations
1
Record keeping
2
Reporting Requirements
Credit Regulation/Capital Requirements
1
Capital Requirements
2
Credit Regulation
General Supervision
1
Soft Dollar Arrangements
2
Joint Regulatory Sales Practice Sweep Report
Investment Banking
1
The underwriting Process, Mergers and Acquisitions, and other Corporate Restructuring
2
Fixed Price Offerings
3
Tender Offers
4
Control and Restricted Securities
5
Private Placements
6
Limited Offerings
Registration
1
Registration of personnel
2
Registration Forms (Personnel and Broker-Dealer) – Understanding of the use of and proper filing requirements
Sales Practice – Customer/Employee Accounts
1
Customer Complaints–Reports, maintains records and participates in the preparation of responses
Sales Practice – Solicitations
1
Definition and approval of public communications
2
Regulation of telephone solicitations (“cold calling”)
Rules & Regulations
1
FINRA rules
2
NYSE rules
3
SEC rules
4
USA PATRIOT Act of 2001
5
Treasury Department’s Office of Foreign Assets Control (OFAC) Rules
6
Bank Secrecy Act
7
Penny Stock Reform Act of 1990
8
Suspicious activity monitoring
Sample exam questions
1
Closed Stem Format
2
Incomplete Sentence Format
3
“EXCEPT” Format
Candidates must be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization (SRO) member firm to be eligible to take FINRA principal-level qualification exams. For more information on registration requirements, refer to FINRA Rule 1210.
The Series 14 does not have a corequisite exam.
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