Operations Professional Exam (Series 99) Practice Test
Build your confidence for Operations Professional Exam (Series 99). Practice the concepts, understand the answers, and strengthen your knowledge one question at a time.
Try a sample questionExam overview and details
The Operations Professional Exam (Series 99) is a specialized qualification administered by FINRA for professionals engaged in, or supervising, the operational functions of a broker-dealer. This 46-question exam assesses a candidate's knowledge of the rules, regulations, and best practices governing the back-office and middle-office functions critical to market integrity and client protection. It is designed for operations personnel, settlement clerks, margin specialists, and their supervisors who are not required to hold broader representative-level licenses but whose roles directly impact trade execution, clearance, settlement, account maintenance, and financial control. By passing the Series 99, individuals demonstrate a focused competency in the regulatory framework specific to operations, ensuring they can perform their duties in compliance with FINRA and SEC rules. Successfully completing this exam fulfills the regulatory requirement for these designated operational roles and signifies a professional commitment to operational excellence and regulatory adherence.
Sample Questions
Choose an answer and explore the explanation to see how practice works.
The margin desk reviews a fully paid lending program collateral report shows collateral below required levels after a market move. What should operations do?
An operations employee observes a customer says she never received confirmations for trades she did not authorize. Which issue should operations escalate?
Operations is reviewing a foreign individual opens a brokerage account and gives a foreign address, passport, and non-U.S. tax status certification. Which review is still required?
The cashiering desk is handling a residual dividend posts to a transferred account after the full ACATS movement completed. What should operations do?
Trade support reviews an employee splits profits and losses in a customer's account after informal approval from the customer. Which response should operations take?
Career Opportunities & Salary
Exam insights and study advice
In the real world, operational failures are a primary source of financial loss, regulatory fines, and reputational damage for firms. A deep, tested understanding of the rules covered in the Series 99 directly translates to reducing settlement fails, ensuring accurate client account records, properly handling customer assets, and maintaining accurate books and records. This exam matters because it equips professionals with the knowledge to build robust operational controls that protect the firm, the markets, and, ultimately, the investing public. It moves operations from a purely administrative function to a recognized, regulated pillar of a firm's compliance infrastructure.
Recommended
These are the backgrounds the certifying body suggests. Check the vendor's own page for anything it formally requires.