Best FINRA Series 87 Study Guides for Exam Prep

The FINRA Series 87 exam is known for being particularly challenging, with a significant number of candidates not passing on their first attempt. This is partly because the exam tests a thorough understanding of a research analyst’s job functions. To avoid becoming part of the statistics, it’s essential to use comprehensive study materials and maintain a consistent study schedule.

I have found several excellent prep packages that can help you master the required knowledge and improve your chances of passing. These resources include detailed study guides and practice exams that will prepare you to tackle the test with confidence.

Key Takeaways

• Several comprehensive study guides are available for the Series 87 exam.
• It’s essential to have a consistent study schedule to master the topics.
• High-quality prep packages improve your chances of passing the exam.

#1 Securities Training Corporation Study Guide for Series 87

The Securities Training Corporation (STC) offers a robust FINRA Series 87 study guide known for its detailed content and interactive learning tools. Designed to cater to various learning styles, STC’s guide aims to provide a comprehensive review of the exam material, including both theoretical knowledge and practical applications.

Course Overview

STC’s Series 87 study guide includes:

• In-Depth Content Coverage: This guide provides detailed explanations on key topics such as research methodology, financial analysis, and regulatory aspects, ensuring that every aspect of the exam is covered in detail.
• Practice Questions and Exams: Numerous practice questions that simulate the actual exam environment. Includes full-length practice exams to test your knowledge and timing under real exam conditions.
• Interactive Tools: Access to online resources like webinars, interactive forums, and additional practice materials that enhance learning through engagement and discussion.
• Structured Study Plan: A well-organized study plan that breaks down the material into manageable sections, helping you stay on track and cover all necessary topics systematically.

Course Features

• Comprehensive Content: Extensive coverage of all exam topics with in-depth explanations and examples.
• Interactive Learning: Includes online webinars, forums, and additional materials to support interactive learning.
• Extensive Practice: Numerous practice questions and full-length exams to prepare you thoroughly for the actual test.
• Organized Study Plan: A structured plan to guide your study sessions effectively.

Pros

• Thorough Coverage: The STC guide provides exhaustive material on every exam topic. This depth ensures that you gain a comprehensive understanding, which is critical for passing the exam and applying knowledge in professional settings. The extensive coverage also helps build a solid foundation for your career as a research analyst.
• High-Quality Practice Questions: The practice questions closely resemble those on the actual exam, allowing you to familiarize yourself with the format and difficulty. Detailed explanations for each question reinforce learning and clarify any misunderstandings, enhancing your problem-solving skills.
• Interactive Learning Tools: Online webinars and forums create a dynamic learning environment. Engaging with these resources allows for discussion with peers and instructors, which can deepen your understanding and provide different perspectives on complex topics.
• Structured Study Plan: The guide’s study plan helps organize your study time efficiently, breaking down material into manageable sections. This systematic approach ensures thorough coverage of all topics and helps maintain a consistent study routine.

Cons

• Cost: STC’s study materials are among the pricier options. While the cost may reflect the quality and comprehensiveness of the material, it’s important to evaluate whether the investment fits your budget.
• Extensive Content: The depth of the material can be overwhelming, particularly if you’re new to the subject. This may require a significant time commitment, so it’s important to allocate sufficient time for study.
• Rigidity of Study Plan: The structured plan might not cater to all learning styles. Some candidates may find the approach less flexible, which could impact the overall learning experience.

#2 Mometrix FINRA Series 87 Study Guide

Mometrix is renowned for its straightforward and user-friendly approach to test preparation. Their Series 87 study guide is designed to simplify complex concepts and provide practical strategies to help candidates pass the exam with confidence.

Course Overview

Mometrix’s Series 87 study guide includes:

• Clear Explanations: This course breaks down complex topics into simpler, more digestible sections. This approach is beneficial for candidates who struggle with intricate material.
• Practice Questions and Answers: Features a variety of practice questions with detailed explanations to help you understand the reasoning behind each answer.
• Study Tips and Strategies: Offers practical advice on effective study techniques and test-taking strategies to optimize your preparation.
• Review Sections: Provides summaries and key points to reinforce important concepts and facilitate quick reviews.

Course Features

• Simplified Content: Easy-to-understand explanations of complex topics.
• Detailed Practice Questions: Range of questions with thorough answer explanations.
• Effective Study Tips: Practical advice for study and test-taking.
• Concise Review Summaries: Quick reviews to reinforce key points.

Pros

• Clarity and Simplicity: The guide’s focus on breaking down complex concepts into simpler explanations makes it accessible and user-friendly. This clarity is particularly helpful for those who struggle with intricate material, making it easier to understand and retain information.
• Effective Practice: The practice questions are well-designed and come with detailed explanations, which help students understand the logic behind each answer. This helps improve problem-solving skills and enhances overall exam readiness.
• Useful Study Tips: The guide includes practical advice on study techniques and test-taking strategies. These tips are valuable for developing effective study habits and approaching the exam with confidence.
• Concise Summaries: The review sections provide quick summaries of key points, which are useful for reinforcing knowledge and preparing efficiently. This allows for focused review sessions, helping candidates solidify their understanding of essential concepts.

Cons

• Limited Depth: The guide may not cover all exam topics in the depth required for thorough preparation. While it simplifies material, candidates seeking a more detailed review might need additional resources.
• Higher Cost: Mometrix’s study guide can be relatively expensive. The clarity and practical advice provided might justify the cost, but it’s important to weigh it against your budget.
• Not Ideal for Advanced Learners: Advanced learners might find the simplified content less beneficial. Those with a solid grasp of the basics may require more advanced resources for comprehensive preparation.

#3 Knopman Marks FINRA Series 87 Study Guide

Knopman Marks is known for its practical approach to exam preparation. Their FINRA Series 87 study guide focuses on providing practical insights and effective exam strategies. It is tailored for candidates who want to understand how theoretical knowledge applies in real-world scenarios.

Course Overview

Knopman Marks’ Series 87 study guide features:

• Practical Insights: The course emphasizes real-world applications and examples to help candidates understand how the material is used in professional settings.
• Exam Strategies: Provides techniques and strategies for tackling the exam effectively, including time management and question handling tips.
• Comprehensive Material: Offers a thorough review of all exam topics, ensuring that candidates have a complete understanding of the material.
• Practice Exams: This course includes full-length practice exams that simulate actual test conditions. These allow candidates to assess their readiness and familiarize themselves with the exam format.

Course Features

• Real-World Focus: Practical examples and applications of theoretical concepts.
• Strategic Approach: Techniques for improving exam performance.
• Comprehensive Coverage: Detailed review of all exam topics.
• Full-Length Practice Exams: Simulated test conditions for practice.

Pros

• Practical Application: The guide’s focus on real-world examples helps candidates see how theoretical concepts are applied in practice. This practical approach is valuable for those looking to use their knowledge in professional roles after passing the exam.
• Effective Exam Strategies: The guide provides useful techniques for managing time and handling questions effectively. These strategies help candidates develop a clear plan for approaching the test and improving their performance.
• Comprehensive Review: Detailed coverage of all exam topics ensures that candidates are well-prepared for every aspect of the test. This thorough review helps build confidence and ensures readiness.
• Simulated Practice: Full-length practice exams allow candidates to gauge their readiness and become familiar with the exam format. This practice helps reduce exam-day anxiety and improve performance.

Cons

• Higher Cost: Knopman Marks materials are relatively expensive. The practical focus and comprehensive coverage might justify the cost, but it’s important to consider whether it fits your budget.
• Content Density: The practical focus might make the content appear dense. Candidates may need to balance this with additional resources to ensure they cover all theoretical aspects thoroughly.
• Focus on Application: The emphasis on practical examples might not fully address theoretical aspects. Candidates needing a more detailed theoretical review may need supplementary materials.

#4 Serdemy Series 87 Free Study Guide

Serdemy offers a free Series 87 study guide, providing a cost-effective option for candidates looking to prepare for the exam without financial commitment. Despite being free, the guide offers a solid foundation for exam preparation, covering essential topics and providing practice questions.

Course Overview

Serdemy’s free Series 87 study guide includes:

• Basic Content Coverage: The course focuses on fundamental topics and key concepts necessary for the exam. It provides a good starting point for candidates new to the material.
• Practice Questions: Offers a selection of practice questions to help candidates assess their understanding and readiness.
• Study Tips: Includes general advice on study techniques and exam preparation, which can be useful for developing effective study habits.

Course Features

• Cost-Free: Available at no cost, making it an accessible option for all candidates.
• Fundamental Coverage: Covers basic exam topics and key concepts.
• Practice Questions: Includes practice questions for self-assessment.
• General Study Tips: Provides useful advice on study techniques.

Pros

• No Cost: The free nature of the guide makes it accessible to all candidates, regardless of budget. This is particularly beneficial for those who need to prepare without incurring additional expenses.
• Good Foundation: The guide provides a solid foundation for understanding basic exam topics and concepts. It’s a useful starting point for candidates who are new to the material and need an introductory review.
• Practice Opportunities: The inclusion of practice questions helps candidates gauge their understanding and identify areas that need improvement. This self-assessment is valuable for tracking progress.
• Useful Study Tips: The general study tips offered in the guide can help candidates develop effective study habits and prepare more efficiently. This advice is beneficial for structuring study sessions and improving overall preparation.

Cons

• Limited Depth: The guide’s coverage is basic and may not provide the depth required for comprehensive exam preparation. Candidates who need a more detailed review might find the material lacking.
• Lack of Advanced Resources: The free guide does not include advanced resources such as practice exams or interactive tools. Candidates seeking a more extensive and interactive preparation experience may need to look for additional resources.
• Basic Study Tips: While the study tips are helpful, they are general and might not be tailored to the specific needs of the Series 87 exam. For effective preparation, more targeted advice and strategies might be needed.

Choosing the Right Study Guide

• STC Study Guide: This is the best choice for comprehensive content and interactive learning tools. It is ideal for candidates seeking an in-depth and structured approach.
• Mometrix Study Guide: Ideal for clear explanations and practical study tips. Suitable for those who prefer straightforward material and effective study strategies.
• Knopman Marks Study Guide: Great for practical application and effective exam strategies. Excellent for candidates looking to understand real-world applications and exam techniques.
• Serdemy Free Study Guide: Useful for a basic foundation at no cost. A good starting point for those on a tight budget who need fundamental preparation.

When picking a study guide for the Series 87 exam, think about your personal learning style, budget, and the level of detail you need. Each guide has its own strengths and can be a valuable part of your study plan. Combining a well-suited study guide with a consistent study routine will boost your chances of passing the Series 87 exam and advancing your career in the financial industry.

Series 87 FAQs

Do I Need Sponsorship to Take the FINRA Series 87 Exam?

No, you can’t take the Series 87 exam if you’re not sponsored. You need a FINRA-member broker/dealer to sponsor you to sit for the test.

How Many Practice Questions Should I Do Before Taking the Series 87 Exam?

Experts say you should complete over 450 practice questions before taking the FINRA Series 87 exam. This practice will help you get used to the format and difficulty of the real test.

How Much Time Should I Spend Preparing for the Series 87 Exam?

If you’re working full-time, plan to spend 3-5 weeks studying for the Series 87 exam. This should give you enough time to go through all the study materials and complete the recommended number of practice questions.

Are “Sell-Side” Equity Analysts Required to Pass the Series 87 Exam?

Yes, “sell-side” equity analysts must pass the Series 87 exam. The qualification and registration requirements under Rule 1220(b)(6) apply to both “buy-side” and “sell-side” analysts. So, passing this exam is necessary to work as a research analyst in any professional role.

For more details on study materials and exam preparation, visit Knopman Marks Financial Training or learn about various prep packages from STCUSA.

Frequently Asked Questions

Recommended Resources for Passing the Series 87 Exam

Top candidates often recommend using a combination of study guides, practice exams, and review courses. One well-regarded resource is the Knopman Marks Series 87 Exam Prep packages which include practice exams and instructor support.

Study Hours Needed for the Series 87 Exam

On average, most candidates dedicate around 100-120 hours to prepare for the Series 87 exam. Consistent daily study can help spread out the workload and improve retention.

Most Effective Study Materials for the Series 87 Exam

Many candidates find a combination of textbooks, online courses, and practice exams effective. The content outlines provided by FINRA are particularly useful for understanding the structure and topics that will be covered.

Availability of Free Study Guides or Practice Exams

Free study guides and sample questions can be found online, though they may not be as comprehensive as paid resources. Websites like Knopman Marks sometimes offer free trials or sample materials to help candidates get started.

Historical Pass Rate for the Series 87 Exam

The pass rate for the Series 87 exam tends to vary, but it often hovers around 70-75%. This suggests that while the exam is challenging, a disciplined study approach can significantly improve one’s chances of passing.

Comprehensive Study Guides for the Series 87 Exam

For comprehensive coverage, candidates often lean towards study guides offered by well-known financial training institutions. Books and courses from providers like Knopman Marks are frequently recommended for their detailed content and realistic practice questions.