The investment banking analyst class of 2023 kicks off another year of new hires. At investment banks around the country new faces will show up for work this summer. With graduation at most major universities in the rearview mirror, final exams will be substituted for FINRA exams.
First in line was the SIE exam, but next up often comes the more difficult Series 79 Exam. In today’s post we discuss what you need to know.
Investment Banking Analyst Class of 2023…Know What to Study
When it comes to the Series 79 Exam, the first thing we recommend is prioritization. Like most standardized exams, you need to learn to study for the exam. Think about understanding the material at a deeper level, later.
The general breakdown for this exam is: about 60% non-analytical (definitions, rules, regulations, etc.) and about 40% analytical (formulas, accounting, financial ratios, etc.). Among the analytical questions that you will be expected to know, the math is relatively benign.
That said, at Professional Exam Tutoring, through our experience we estimate that you should expect to see somewhere between 5 and 15 math questions on the exam.
Aside from the math, within the analytical section, challenges lurk. In fact, most students that reach out to us after a bad experience on their own, report that section as the culprit for their failed exam.
How to Overcome Analysis Questions
When it comes to the Series 79 analytical questions, practice is your best bet. For the most part, Knopman Marks is also your best bet.
We estimate that about 75% of our students use Knopman Marks study material. Of the remainder, probably 20% use STC, then everyone else uses a mix of others.
A very large proportion of investment banks use the Knopman Marks curriculum as their go-to study material. As tutors, we find that their material predictably measures when a student is ready to take the exam. The best measurement we’ve found is a practice score on an overall custom-made practice exam of somewhere between 82% and 85% on a consistent basis.
Some things however, we advise you to ignore. For instance, Knopman makes some statistical claims about passing the exam that tend to be confusing for students. This statistic is fairly vague, and can be difficult to interpret. Therefore, just aim for the highest score possible – somewhere in that made 80% range or higher if you can – and press on.
Overall, we wish all the best to this new investment banking analyst class of 2023. Just make sure you study, even when you want to enjoy your new social life with an income! That income can quickly be taken from you if you end up with too many failed Series 79 Exams. If you need any help, you know where to find us. Good luck!