The financial industry is heavily regulated, and candidates interested in working in the industry must perform well on certain financial exams to obtain positions. Positions requiring financial exams include Certified Financial Planner (CFP), Certified Public Accountant (CPA), and Certified Government Financial Manager (CGFM). Other financial-industry positions requiring tests are in the securities industry. Candidates take the National Commodities Futures Examination (Series 3 Exam) to be officially registered with the National Futures Association, and the General Securities Registered Representative Examination (Series 7 Exam) to demonstrate knowledge of rules and regulations of the securities industry. The North American Securities Administrators Association (NASAA) administers the Uniform Investment Adviser Law Examination (Series 65 Exam) to candidates who plan to pursue careers as investment adviser representatives, and the Uniform Combined State Law Examination (Series 66 Exam) to those who are working to become licensed as agents or investment advisers.
Financial examination candidates should prepare for these difficult tests by engaging in test-preparation activities, including review and practice. Candidates will be required to demonstrate the application of concepts and the understanding of complex regulations that are integral to the industry. Potential financial-industry personnel should be prepared to show reasoning, deduction, and inference skills to be successful on any of these financial examinations.
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