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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Enrolled: 35 students
Duration: 100 hours
Lectures: 30
Video: 9 hours
Level: Advanced

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