Private Securities Offerings Representative Exam (Series 82) Exam Guide
At a glance
- Questions
- 50
- Time limit
- 1h 30m
- Passing score
- 70%
- Exam fee
- $100
- Governing body
- FINRA
The Series 82 exam qualifies candidates to work as a private securities offerings representative, covering the sale and support of privately placed securities. It is administered by FINRA and is typically taken by registered representatives at broker-dealers who solicit or process private placement business.
Overview
The Series 82 blueprint is organized into four functional areas, each weighted by the number of scored questions FINRA allocates to it:
- Seeks business for the broker-dealer from customers and potential customers — 25 questions
- Opens accounts after obtaining and evaluating a customer's financial profile and investment objectives — 9 questions
- Provides customers with investment information, makes recommendations, transfers assets, and maintains records — 13 questions
- Obtains and verifies purchase instructions and agreements and processes, completes, and confirms transactions — 3 questions
The heavy weighting on business development reflects the exam's focus on how representatives identify and qualify prospects for private offerings.
Cost and registration
The Series 82 exam fee is $100. Candidates should confirm current pricing and any firm-sponsorship arrangements against FINRA's official fee schedule before scheduling.
Exam format
The exam contains 50 scored multiple-choice questions administered over 1 hour and 30 minutes, with a passing score of 70%. The Series 82 has a corequisite: candidates must also pass the SIE exam, since passing the SIE alone does not qualify anyone for registration with a FINRA member firm.
Frequently asked questions
How many questions are on the Series 82 exam?
The Series 82 exam consists of 50 scored multiple-choice questions administered by FINRA.
How long is the Series 82 exam and what is the passing score?
Candidates get 1 hour and 30 minutes to complete the exam, and a score of 70% or higher is required to pass.
How much does the Series 82 exam cost?
The Series 82 exam fee is $100, paid when the exam is scheduled through FINRA.
Do I need to take another exam alongside the Series 82?
Yes, the SIE exam is a corequisite, meaning a candidate must pass both the Series 82 and the SIE to become registered; passing the SIE alone does not qualify anyone for registration with a FINRA member firm.
Who needs to take the Series 82 exam?
The Series 82 assesses whether an entry-level registered representative is competent to perform the job of a private securities offerings representative, which is required before soliciting private placements at a member firm.
What does the Series 82 exam actually test?
It is organized into content sections covering how a representative seeks private securities business, opens customer accounts, provides investment information and recommendations, and processes transactions, with the business-development section carrying the most weight.
Sources
- 1.Series 82 - Private Securities Offerings Representative Exam | FINRA.org — FINRA (accessed Aug 9, 2026)
- 2.Qualification Exams | FINRA.org — FINRA (accessed Aug 9, 2026)
- 3.Securities Industry Essentials (SIE) Exam | FINRA.org — FINRA (accessed Aug 9, 2026)
- 4.Enroll for a FINRA Exam — FINRA
- 5.FINRA Exam Scheduling (Prometric) — Prometric
Official sources
Every exam fact on this page traces to a primary document published by the body that administers the exam.
- Series 82 - Private Securities Offerings Representative Exam | FINRA.orgFINRAfinra.org
- Securities Industry Essentials (SIE) Exam | FINRA.orgFINRAfinra.org
- Qualification Exams | FINRA.orgFINRAfinra.org
Last verified against the official exam content outline: