The Series 4 exam—the Registered Options Principal Qualification Examination (OP)—assesses the competency of an entry-level options principal candidate to perform his or her 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.
The exam consists of 125 scored questions and an additional 10 unscored pretest questions. Candidates are given three hours and 15 minutes to complete the exam. The passing score is 72 percent.
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