What is the 'Series 14'

The Series 14 is an exam and certification for professionals seeking to become licensed compliance officers for member firms. Anyone who seeks employment as a head compliance officer or who will be managing more than 10 compliance officers in the United States must complete the exam. The Series 14 is more formally known as the Compliance Official Qualification Examination (CO).

Breaking Down 'Series 14'

The Series 14, according to the Financial Industry Regulatory Authority (FINRA), which administers the test, "assesses the competency of an entry-level compliance official candidate to perform his or her job as a compliance officer. The exam measures the degree to which each candidate, who will supervise 10 or more people engaged in compliance activities or are responsible for the overall day-to-day compliance activities of the firm, possesses the knowledge needed to perform the job responsibilities." The Series 14 was created by NYSE Regulation. Its purpose is to "codify, clarify and give specificity to compliance obligations."

Series 14 Topics and Responsibilities

Series 14 Exam topics include the various industry regulatory agencies, the supervision of sales and customer accounts, the operation of both primary and secondary trading markets, and financial responsibilities for FINRA and NYSE-member firms.

The Series 14 is a comprehensive and difficult exam along the lines of the Series 7 for general securities brokers. Compliance officers are responsible for making sure that firms are obeying the regulations that keep customer accounts safe, employees in good standing with regulatory authorities, and otherwise following the rules that keep the doors to the business open.

Series 14 Exam Structure

The exam consists of 110 scored questions divided into nine categories. Three hours is provided for its completion. A score of 70% or better is required for passing. The Series 14 has no prerequisite exam and costs $350. For more, see FINRA's Series 14 - Compliance Official Exam (CO) informational page.

  • Section 1: Regulatory Agencies (3 questions)
  • Section 2: Markets and Operations (20 questions)
  • Section 3: Broker-Dealer Operations (10 questions)
  • Section 4: Credit Regulation/Capital Requirements (7 questions)
  • Section 5: General Supervision (20 questions)
  • Section 6: Investment Banking (15 questions)
  • Section 7: Registration (9 questions)
  • Section 8: Sales Practice-Customer/Employee Accounts (16 questions)
  • Section 9: Sales Practice-Solicitations (10 questions)

For more, see FINRA's Series 14/Compliance Official Qualification Examination content outline, which elaborates on the test sections and provides sample questions.

RELATED TERMS
  1. Series 66

    The Series 66 is an exam and license that is meant to qualify ...
  2. Series 27

    The Series 27 is a securities license entitling the holder to ...
  3. Series 28

    The Series 28 is an exam for professionals seeking become licensed ...
  4. Series 11

    The Series 11 is a securities license that allows holders to ...
  5. Series 72

    The Series 72 is a FINRA licensing exam for individuals who want ...
  6. Series 62

    The Series 62 certification provides registered representatives ...
Related Articles
  1. Financial Advisor

    Sell-Side Analysts Need Series 86/87 Exams

    Though these tests are not particularly difficult or comprehensive, passing them is mandatory to work as a sell-side analyst.
  2. Personal Finance

    How to Get a Job in Compliance

    What it takes to become a compliance officer, why the field is so diverse, the job's function in general and within the finance industry in particular.
  3. Personal Finance

    CFA Vs. Series 7: Which is Easier

    Find out which is exam is easier: The Chartered Financial Analyst (CFA) exam, or the Series 7 securities exam for registered representatives.
  4. Financial Advisor

    Series 24 Exam Prep: Stock Exchanges

    Before you take the series 24, you need to understand exchanges, listing requirements and much more.
  5. Personal Finance

    What To Expect On The CFA Level II Exam

    This article will help you understand the nuances of the CFA Level II exam.
  6. Financial Advisor

    Succeeding At The Series 63 Exam

    Your career as a securities agent begins with this test. We'll show you how to score high.
  7. Personal Finance

    The Securities Industry Essentials Exam (SIE)

    The Securities Industry Essentials Exam (SIE) is a new exam being introduced by FINRA to replace parts of the Series 6, Series 7, Series 22, Series 55 (57), Series 79, Series 82, Series 86/87, ...
  8. Personal Finance

    Common interview questions for compliance officers

    Prepare to ace your compliance officer interview. Learn how to answer some commonly asked interview questions and what you need to know to come out ahead.
  9. Personal Finance

    Becoming A Chartered Market Technician

    The CMT certification involves three tough exams. Find out what you need to do in order to pass.
  10. Financial Advisor

    6 Proven Tips For Series 6 Success

    These techniques can help you pass this test without the added stress.
RELATED FAQS
  1. What Major is Required to take the Series 7 Examination?

    Find out what educational requirements are needed for the Series 7 exam. Learn about the new Securities Industry Essentials ... Read Answer >>
  2. What is the difference between Series 9/10 and Series 24 qualification exams?

    Both are the exams that must be completed by a principal before he or she can supervise certain sales activities, but one ... Read Answer >>
Trading Center