Series 79 Practice Test 2026 — Free Series 79 Exam Prep Questions
The Series 79 qualifies Investment Banking Representatives who advise on or facilitate debt and equity offerings, private placements, mergers and acquisitions, tender offers and restructurings, and is taken together with the SIE. Our practice questions follow FINRA's three Series 79 functions, with worked valuation, accretion/dilution and underwriting-spread calculations alongside the Securities Act, Exchange Act and FINRA rules bankers apply on deals.
Yorkton Partners has taken substantial steps toward a cash tender offer for Nash Medical but has not announced it. An associate at Yorkton's financial adviser tells a college friend, who buys Nash shares two weeks before the announcement. The friend has no tie to either company, and the associate received nothing for the tip. Which statement is accurate?
Series 79 format, scoring & key facts
Computer-based at Prometric test centers, with a tutorial before the exam. Online (remote-proctored) delivery of the Series 79 is available only to candidates with an approved accommodation. The test center provides a four-function calculator and an erasable note board; the exam is closed book.
| Questions | 80 total: 75 scored and 5 unscored pretest items, four answer choices each |
|---|---|
| Time | 2 hours 30 minutes |
| Passing score | 73 |
| Cost | $395 |
| Functions | Data collection, analysis and evaluation 49% (37), Underwriting and registration 27% (20), M&As, tender offers and restructuring 24% (18) |
| Calculator | Four-function calculator and note board provided at the test center; closed book |
| Eligibility | Firm sponsorship required; SIE is a corequisite |
| Valid for | Lapses after 2 years without registration |
| Testing | Prometric test center (online only with an approved accommodation) |
Facts last verified Oct 26, 2026. Source: www.finra.org/registration-exams-ce/qualification-exams/series79. Always confirm details with FINRA before your exam.
When can you take the Series 79?
The Series 79 is offered year-round at Prometric test centers, within the 120-day enrollment window opened by your sponsoring firm.
Plan backwards from your exam date
What the Series 79 covers
Every PrepBanq Series 79 test mirrors the official domain weights.
Domain distribution
% of the exam| Content domain | Weight | ≈ Questions on exam | Our practice questions |
|---|---|---|---|
Collection, Analysis and Evaluation of Data | 49% | ~37 | 74 questions → |
Underwriting/New Financing Transactions, Types of Offerings and Registration of Securities | 27% | ~20 | 40 questions → |
Mergers and Acquisitions (M&As), Tender Offers and Financial Restructuring Transactions | 24% | ~18 | 36 questions → |
How to register for the Series 79
- 1Join a sponsoring firmA FINRA member firm must associate with you and enroll you for the Series 79, which opens a 120-day window to test.
- 2Pass the SIEThe SIE is a corequisite: you need both exams to register as an Investment Banking Representative.
- 3Schedule with PrometricBook a test-center appointment within your enrollment window. Changing it within 10 business days costs part or all of the $395 fee.
- 4Test and registerAnswer 80 items in 2 hours 30 minutes. Once you have passed both the SIE and the Series 79, your firm completes your registration.
Eligibility
You must be associated with and sponsored by a FINRA member firm (or another applicable SRO member firm). To register as an Investment Banking Representative you must pass both the Series 79 and the Securities Industry Essentials (SIE) exam, its corequisite.
Retake policy
You wait 30 days after a first or second failed attempt, and 180 days after a third failure within two years. From January 19, 2027 these drop to 15 days and 60 days (FINRA Regulatory Notice 26-18). Waiting periods apply only to the exam you failed.
Credential renewal
The qualification lapses if you are not registered with a firm for 2 years (FINRA Rule 1210.08). The SIE has its own 4-year window.
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Series 79 FAQ
How many questions are on the Series 79?
The Series 79 has 80 questions (75 of them scored) and you have 2 hours 30 minutes to finish. Question types: Multiple choice with four answer choices each. 75 scored items plus 5 unidentified, unscored pretest items placed randomly through the exam. There is no penalty for guessing..
How long is the Series 79 exam?
Testing time for the Series 79 is 2 hours 30 minutes.
What is the passing score for the Series 79?
Series 79 passing standard: 73. Score range: Scores are equated to a common scale; 73 is the passing score.
How much does the Series 79 cost?
The Series 79 registration fee is $395. Check the official site for current fees before you register.
What is on the Series 79?
The Series 79 covers Collection, Analysis and Evaluation of Data (about 49%), Underwriting/New Financing Transactions, Types of Offerings and Registration of Securities (about 27%), Mergers and Acquisitions (M&As), Tender Offers and Financial Restructuring Transactions (about 24%).
Who administers the Series 79?
The FINRA Series 79 — Investment Banking Representative Exam is administered by FINRA. Delivery: Computer-based at Prometric test centers, with a tutorial before the exam. Online (remote-proctored) delivery of the Series 79 is available only to candidates with an approved accommodation. The test center provides a four-function calculator and an erasable note board; the exam is closed book..
Can you retake the Series 79?
You wait 30 days after a first or second failed attempt, and 180 days after a third failure within two years. From January 19, 2027 these drop to 15 days and 60 days (FINRA Regulatory Notice 26-18). Waiting periods apply only to the exam you failed.
Is there a free Series 79 practice test?
Yes. PrepBanq has 15 free Series 79 practice tests with 150 exam-style questions in the real Series 79 formats, and every answer is explained. No credit card is needed.
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