Investment Bankers Get 5-Hour, 175 Question FINRA Test

head in hands frustrated fail mad laid off banker investment banking

Beginning in November, investment bankers will be required to pass a new FINRA test.

According to the regulatory authority, the “Series 79” examination “qualifies an individual to advise on or facilitate debt or equity offerings through a private placement or public offering or to advise or facilitate mergers or acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations or business combination transactions.”

There’s a big content outline here if you’re curious (scroll down to “Limited Representative – Investment Banking (Series 79)”) and if you want details on exemptions, check out this article.

It’s a five hour test with 175 multiple choice questions. But we think it could probably have just one question: “Can you distinguish between right and wrong?”

Based on Wall Street’s recent shenanigans, any answer is acceptable. And it would probably still take an investment banker five hours to complete.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.