Series 9 FAQ — Common Questions & Quick Answers

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

Quick facts

• Scored items: 55
• Unscored pretest items: 5
• Time: 1 hour 30 minutes
• Passing score: 70
• Cost: $130
• Corequisites: SIE + Series 7
• Sponsorship: required

Frequently asked questions

Do I need firm sponsorship for Series 9?

Yes. Series 9 is a FINRA qualification exam and generally requires association with a FINRA member firm (or other applicable SRO member firm).

How does Series 9 relate to Series 10?

Series 9 is Part 2 of the Series 9/10 qualification (options-focused). Series 10 is Part 1 (general securities sales supervision). To obtain the registration, you generally must pass both parts within FINRA’s required time window.

FINRA also notes that if both exams are not passed within two years of one another, the exam taken and passed will be invalidated.

Does Series 9 make me an options principal?

No. Series 9/10 is a limited principal qualification for sales supervision. If your role requires broader options principal authority, FINRA’s options principal path (e.g., Series 4) is separate—use FINRA guidance and your firm’s registration team as the source of truth.

What does Series 9 cover?

Series 9 tests supervision across four areas:

• approving options accounts and ensuring required disclosures/documents are delivered
• supervising options sales practices, trading activity, limits, complaints, and errors
• supervising options communications (retail, correspondence, institutional)
• maintaining product and market knowledge needed to supervise options activity

How should I allocate study time?

Use the blueprint weights:

• F2 (34.5%) + F1 (32.7%) are most of the exam: daily supervision + account approvals and margin.
• F4 (23.6%) is core options knowledge (strategies, P/L, breakevens, market mechanics).
• F3 (9.1%) is fewer points, but they can be “clean points” if you know the communications categories and content standards.

What’s the biggest exam trap?

Approving or permitting options activity that skips a required control:

• approving uncovered writing without required documentation/equity controls
• allowing a strategy that doesn’t fit the customer profile or approval level
• missing position/exercise limit and large position monitoring expectations
• relying on disclaimers to fix misleading options communications

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.