FSA Exams for stock broker

[irfan]

Hi,
I am new in this blog. Could you plz guide me how many FSA exams I have to pass to get a job as junior stock broker. I have masters in Financial Markets with Information Systems.

Kind Regards,
Irfan

 

[jvm]

fsa unit 1 and 3

 

[jvm]

sorry 1 and 2,,,,3=derivs

 

[PualoP]

Also, in the post MiFid era you have to do Unit 8 Investment & Risk if you are to work with retail clients.

Happy studying !!

 

[jvm]

yeah..... its fudging ard

 

[smellybelly]

1) how easy are these exams?

2) where do u take these fsa 1/2/3 exams?

3) I am 22 years old and have "1" year left of uni... if i were to drop out, lets say, and do these independent exams, would firms still employ me with just the certifications of having passed the fsa courses?

4) how much are these courses to take?

5) how long do you have to wait? wot would be the procedures?

***EDIT: I AM WITHIN THE UK***

thanks for all the help on this 1!!

 

[esscubed]

dude, you have the internet...

 

[munchiedude]

1) how easy are these exams?

2) where do u take these fsa 1/2/3 exams?

3) I am 22 years old and have "1" year left of uni... if i were to drop out, lets say, and do these independent exams, would firms still employ me with just the certifications of having passed the fsa courses?

4) how much are these courses to take?

5) how long do you have to wait? wot would be the procedures?

***EDIT: I AM WITHIN THE UK***

thanks for all the help on this 1!!

hi smellybelly, i am currently a stockbroker and can offer some advice for you to help you on your way

firstly, the exams that you will need to take depends on your specific role, eg, will you only be advising on cash equities? or cfds and derivatives as well?

there is a change in the regulatory environment thats requires investment advisors to achieve an investment advice diploma. this change is under the retail distribution review (RDR). google it if you wish to know more.

typically, you will need 3 exams(multiple choice).
these are unit 1- regulations, unit 2 - securities and unit 8 - investment risk if you are trading cash equities only. you will also need derivatives if you are planning to offer cfds.

the ans to your questions are:

2) check out www.cisi.org for all course related details. you can self study or pay a course provider like 7city or bpp if you need extra help. if you are planning to be a junior broker, your firm may sponsor and support you with course fees, exam fees so do enquire first. usually, books ordered directly from cisi are around £100/unit and the exams are £160 per sitting.

3) i personally would suggest not dropping out of uni as a degree can and will help you, particularly with larger banks/firms. altho smaller companies may employ u without.

4)the cost is outlined above but 7city and bpp charge more and the cost depends on what u need, i.e. classes, online material etc.

5)u dont have to wait, you just pay and study. simples. altho if you fail a particular unit for i believe 3-4 times, then you will have to wait 6 months before doing it again.

hope that helps!

 

[munchiedude]

i thought the OP was smelly belly, the same for irfan