Common questions about FINRA Series 162, including how it fits inside Series 16, what Part II tests, the CFA Level I exemption note, and practical study strategy.
Confirm qualification, enrollment, and policy details directly with FINRA before scheduling.
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Series 162 is Part II of the FINRA Series 16 Supervisory Analyst qualification. It is the report-review and analytical-basis half of the qualification.
No. Series 162 is only Part II. It should be understood as one half of the overall Series 16 path.
It tests whether the supervisory analyst can review the report for data accuracy, calculation consistency, source quality, and whether a reasonable basis exists for the analyst’s conclusions.
It is testing whether you can challenge unsupported reasoning. The stronger answer usually identifies where the report’s conclusion outruns its factual or analytical support.
The reasonable-basis function deserves the most time because it carries 68% of the exam.
As of April 14, 2026, FINRA states that a candidate who has passed CFA Level I may be exempt from Part II (Series 162). Confirm the live FINRA wording before relying on that in your own path.
Switch once you can tell quickly whether the problem is factual accuracy, calculation consistency, or unsupported analysis. That split is the fastest way to clean up misses.