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Series 82 FAQ — Common Questions & Quick Answers

Answers to common questions about the FINRA Series 82 exam: eligibility and sponsorship, SIE corequisite, format/timing, scoring, retakes, scope, and how to study.

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Policies can change—confirm critical details with FINRA and your firm before scheduling.

Quick facts

  • Scored items: 50
  • Unscored pretest items: 5
  • Time: 90 minutes
  • Passing score: 70
  • Cost: $60
  • Corequisite: SIE
  • Sponsorship: required

Frequently asked questions

Do I need firm sponsorship for Series 82?

Yes. Series 82 is a representative-level qualification exam and generally requires association with a FINRA member firm (or other applicable SRO member firm).

Do I need to pass SIE too?

Yes. Series 82 is paired with the SIE as a corequisite. You must pass both to obtain the Private Securities Offerings Representative registration.

What does Series 82 cover?

Series 82 focuses on private offerings and the workflow around them, including:

  • communications and marketing materials controls
  • private offering types and exemptions (high level)
  • investor qualification concepts (accredited investor and QIB, as applicable)
  • required documentation (PPM, subscription agreements, questionnaires)
  • suitability/best interest mindset for recommendations
  • processing, confirmations, recordkeeping, and complaint handling

Series 82 vs Series 79: what’s the difference?

At a high level:

  • Series 82 focuses on private securities offerings activities and the private placement workflow.
  • Series 79 is the investment banking representative exam (broader transaction scope, including M&A and public offerings).

Your firm’s registration team should confirm the correct path for your role.

How is the exam scored?

Series 82 uses a passing score of 70. FINRA also includes unscored pretest items mixed into your exam that do not affect your result.

What’s the best way to allocate study time?

Put most of your time into F1 (50%): offering types/exemptions, investor qualification logic, marketing/communications rules, due diligence and distribution workflow. Then lock in points with F2/F3 on documentation, profile/suitability logic, and required disclosures.

What is the retake policy?

FINRA retake waiting periods can depend on attempt count and exam type. Verify current rules with FINRA at scheduling time.

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