FINRA Series 99 Exam Guide: Operations Professional

Use this Series 99 exam guide when you are preparing for the Operations Professional path. Series 99 is narrower than a product-selling or principal exam: it focuses on how broker-dealer operations functions protect customer assets, move funds and securities correctly, maintain records, and escalate operational exceptions before they become customer-protection or supervisory problems.

Series 99 exam snapshot

How to use this guide

The educational chapter sequence follows the official FINRA exam functions, with one chapter on broker-dealer operations workflow and one chapter on professional conduct, privacy, complaint escalation, and supervision. That structure matters because the exam is organized by operations duties, not by product families.

Use the chapter pages when you need to learn or rebuild the material. Use the cheat sheet when the operations concepts are already familiar and you want a faster recall pass.

What to study first

Start with the broker-dealer operations workflow. The exam is mostly about what happens to accounts, funds, securities, records, confirmations, margin, transfers, and regulatory reports after the customer or trade enters the system.

Then add the conduct layer. Privacy, complaint escalation, supervision, and ethical controls are easier to remember when they are attached to the operational process they are protecting.

Practice this exam

Use this free guide for review, then Start Series 99 Practice on Finance Prep for timed questions, topic drills, and detailed explanations.

In this section

• Series 99 Broker-Dealer Operations Guide
  Review account workflow, cashiering, custody, reporting, margin, settlement, confirmations, financial controls, and records tested on Series 99.
  • Account Opening and Maintenance
    Understand account types, registrations, CIP, KYC, approvals, disclosures, and maintenance controls tested on Series 99.
  • Cashiering and Account Transfers
    Learn fund-movement methods, account-transfer workflow, check handling, and prohibited cashiering practices tested on Series 99.
  • Custody and Control of Securities
    Review safekeeping, segregation, good delivery, DRS, restricted legends, and securities handling controls tested on Series 99.
  • Trade Reporting and Corrections
    Understand reporting systems, corrections, error accounts, and prohibited trading-related practices tested on Series 99.
  • Margin and Securities Lending
    Study margin basics, stock loan, locating and borrowing securities, and day-trading controls tested on Series 99.
  • Settlement
    Learn trade comparison, CNS, buy-ins, DK notices, close-outs, and settlement workflow tested on Series 99.
  • Account Statements and Confirmations
    Review statement content, confirmations, tax reporting, and prohibited document-handling practices tested on Series 99.
  • Financial Requirements and Reports
    Understand FINOP responsibilities, FOCUS reporting, general ledger controls, and net capital concepts tested on Series 99.
  • Books and Records
    Review reconciliations, posting timelines, retention, and prohibited recordkeeping practices tested on Series 99.
• Series 99 Professional Conduct and Ethics Guide
  Study communications, privacy, complaint escalation, and supervisory controls tested in the second Series 99 function.
  • Relationships and Dealings
    Understand communications, vendor due diligence, and dealing standards with customers, vendors, and associated persons tested on Series 99.
  • Customer Privacy
    Review privacy, confidentiality, OBO and NOBO status, Red Flags, and customer-information controls tested on Series 99.
  • Complaint Escalation and Red Flags
    Learn complaint recognition, escalation, written-complaint records, reporting triggers, and identity-verification red flags tested on Series 99.
  • Supervision and Control
    Review segregation of duties, information barriers, WSPs, supervisory controls, and business continuity obligations tested on Series 99.
• Series 99 Study Plan for Operations Professional Candidates
  A practical Series 99 study plan for FINRA Operations Professional candidates, with exam facts, weighted reading order, eligible-registration exception checks, miss-review method, and final review plan.
• Series 99 Cheat Sheet: Operations Professional Exam
  High-yield Series 99 cheat sheet for the FINRA Operations Professional exam: exam facts, account onboarding, cashiering, transfers, custody and control, margin, settlement, confirmations, financial controls, records, privacy, escalation, and supervision.
• Series 99 FAQ: Operations Professional Exam Questions
  Series 99 FAQ for the FINRA Operations Professional exam, including exam format, passing score, SIE corequisite, eligible-registration exceptions, sponsorship, and study strategy.
• Series 99 Resources: Official FINRA Links for the Operations Professional Exam
  Official Series 99 resources for the FINRA Operations Professional exam, including exam facts, content outline, SIE corequisite, eligible-registration exceptions, scoring, registration logistics, and study checkpoints.