Ultimate Guide to Passing the Series 99 Exam: Tips, Topics & Resources
The Series 99 exam, officially known as the Operations Professional Exam is a crucial certification for individuals working in back-office operations roles in the U.S. financial industry. If you’re pursuing a career in financial services and aiming to support critical brokerage and dealer operations, earning the Series 99 is a vital step in establishing your expertise and regulatory compliance.
In this blog, we’ll break down everything you need to know about the Series 99 exam — including its structure, eligibility, content areas, study tips, and how to prepare using practice tests and study materials.
What is the Series 99 Exam?
The Series 99 exam is administered by FINRA (Financial Industry Regulatory Authority) and is designed for professionals who perform operations functions at broker-dealer firms. These roles involve supporting the infrastructure and processes that allow for effective trading, clearing, settlement, and record-keeping.
The Series 99 is typically required for individuals working in operations, customer account management, and account maintenance, rather than direct sales or trading roles.
Upon passing the Series 99 exam, individuals are qualified to operate in a regulated capacity under FINRA rules, helping to ensure that financial firms comply with securities laws and operate with transparency and accountability.
Who Needs the Series 99 Certification?
You should take the Series 99 if:
- You work in the operations or back-office department of a broker-dealer.
- Your duties involve handling customer accounts, trade confirmation, settlement, compliance support, or processing financial transactions.
- You’re not engaged in sales, trading, or investment banking but still play a critical part in the functioning of a financial firm.
Note: To become fully registered, you must also pass the Securities Industry Essentials (SIE) exam, which is a co-requisite.
Eligibility Requirements
To sit for the Series 99 exam:
- You must be sponsored by a FINRA-member firm.
- You must also either pass or have already passed the SIE exam.
There are no formal educational requirements (like a college degree), but a background in finance or business is certainly beneficial.
Series 99 Exam Structure
The Series 99 exam:
- Contains 50 scored multiple-choice questions, plus 5 unscored pretest questions (which are randomly placed).
- Must be completed within 90 minutes.
- Requires a passing score of 68%.
Exam Content Breakdown:
The Series 99 focuses on two key functions:
Function 1 – Knowledge Associated with the Broker-Dealer Operations (35 questions – 70%)
This includes:
- Basic industry terminology and regulations
- Customer onboarding and maintenance
- Order processing and settlement
- Anti-Money Laundering (AML)
- Account reconciliation
- Custody of securities and funds
Function 2 – Professional Conduct and Ethical Standards (15 questions – 30%)
This covers:
- FINRA rules and compliance
- Business conduct and ethical practices
- Handling of confidential customer data
- Escalation and error reporting procedures
The exam tests not only your understanding of operational practices but also your ability to apply rules and ethical judgment in real-world scenarios.
How to Prepare for the Series 99 Exam
- Understand the Content Outline
Download and study the FINRA Series 99 content outline to understand what topics are covered and how they are weighted.
- Use Reliable Study Guides
Invest in a Series 99 exam prep book or course from trusted providers. Look for materials that include:
- Key concept summaries
- Terminology flashcards
- Realistic practice questions
- Practice Tests Are Crucial
Take full-length Series 99 practice tests under timed conditions. This will help you:
- Get familiar with question formats
- Build your stamina for the 90-minute exam
- Identify weak areas that need more review
- Learn the Rules
Understanding FINRA regulations is critical. Make sure you are comfortable with key rules such as:
- SEC Rule 15c3-3 (Customer Protection)
- AML obligations
- Customer data privacy protocols
- Focus on Scenarios
The Series 99 doesn’t just test memorization. It includes scenario-based questions that require applying your knowledge to real-world operational situations.
Tips for Exam Day
- Arrive early at the test center or log in early if taking it remotely.
- Use your time wisely — don’t rush, but don’t spend too long on any one question.
- Use the review feature to flag questions you’re unsure about and return to them later.
- Trust your preparation — many successful candidates pass on the first try with consistent, focused study.
Benefits of Passing the Series 99
Industry Recognition – Demonstrates that you’re well-versed in operations and compliance.
Career Advancement – Qualifies you for regulatory compliance roles and senior operations positions.
Regulatory Requirement – Often required by employers for operational roles in FINRA-member firms.
Foundation for Further Certifications – Sets the stage for pursuing other FINRA licenses, depending on your career goals.
Why Use PracticeTestSoftware or ExamsEmpire for Series 99?
If you’re looking for a head start, platforms like PracticeTestSoftware.com and ExamsEmpire.com offer:
- Verified and updated Series 99 practice dumps
- Simulated exam software
- Instant PDF downloads
- Affordable pricing and guaranteed quality
They are excellent resources for reinforcing your knowledge and getting comfortable with the exam format.
The Series 99 exam is an essential credential for those working in the operational heart of the financial services industry. While it may not be as well-known as the Series 7 or Series 63, it plays a vital role in ensuring broker-dealers run smoothly, securely, and within regulatory boundaries.
With the right preparation strategy, practice tests, and high-quality study materials, passing the Series 99 is entirely within reach. Equip yourself with the right tools, and you’ll be on your way to becoming a certified Operations Professional.