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I have been offered a position of Supervisory Analyst and the prerequisite is that I clear the NASD Series 16 Exam.I have decent trading and equity research experience which makes me eligible to do this, but any idea of how tough/easy the exam is and how the process works?Please pour in your inputs. Thanks !

All series exams are easy. There are lots of rules, etc like section 134 (a), b, etc. It would be in some ways like the ethics section of CFA, if you have taken. There are some standard study books (I shall look it up and tell you the name). There are many questions, which are repeated as in the test bank. Passing score is 70. Don't underestimate it though because you need score high 80s at home, so that you make sure you pass the exam. I spent 3 weeks for series 7, which is the most comprehensive exam (includes several series exams in one sitting). I literally spent 48 hours on series 66, with 4 hours sleep and 3 hours eating, etc. That was enough.

Cryptic.Thanks for giving a fair idea about it. I would be really thankful if you could point out some good reference books & question banks like you have mentioned. Million thanks.

I used the study material of STC http://www.stcusa.com/Content/Securitie ... nsing.aspx It looks like they do offer the study material for series 16, scroll all the way down.

Hi,Series 16 has two parts : Part I is the Regulatory Part & Part II being the Quant Part. While Part II is relatively easy esp. for someone with a research background, Part 1 is the tricky part. Also, I donot think that Part I is easy. I also have a research background but have failed to clear Part 1. First of all pass percentage is high (72%) that leaves you with very little room for error. There are no question banks available for this exam and no training institute apart from STCUSA. The questions are quite tricky.. sometimes you get caught up between two options both of which look correct. I would advise that the exam should not be taken casually at least part 1. Please email me if you have further queries.

While preparing for Series 7 exam I used iPhone Apps and this Series 7 exam preparation program. They provide very helpful study materials.