The Series 4 exam — the Registered Options Principal Qualification Exam (OP) — assesses the competency of an entry-level principal to perform their job as a registered options principal.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a registered options principal, including the rules and statutory provisions applicable to the supervisory management of a firm’s options personnel, accounts and trading, as well as exchange rules and regulations applicable to the trading of options contracts.
Content Outline
The Series 4 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required.
The outline is composed of the six major job functions of an options principal. The table below lists the allocation of exam items for each major job function:
| Major Job Functions | Number of Exam Items |
|---|---|
| (F1) Supervise the Opening of New Options Accounts | 21 |
| (F2) Supervise Options Account Activities | 25 |
| (F3) Supervise General Options Trading | 30 |
| (F4) Supervise Options Communications | 9 |
| (F5) Implement Practices and Adhere to Regulatory Requirements | 12 |
| (F6) Supervise Associated Persons and Personnel Management Activities | 28 |
| TOTAL | 125 |
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