Series 79 Exam Prep Course

A free, comprehensive course covering everything on the FINRA Series 79 Investment Banking Representative Exam. Master financial analysis, valuation, underwriting, M&A transactions, and the regulatory framework of investment banking.

18
Lessons
918
Minutes

Ready to test your knowledge?

Practice Tests & Q-Bank

What's Included — Free

18 In-Depth Lessons Covers all 3 FINRA functions: financial analysis & valuation, underwriting & offerings, and M&A — mapped directly to the official content outline.
6 Step-by-Step Worked Examples Click-to-reveal math walkthroughs for Enterprise Value, WACC, leverage ratios, accretion/dilution, syndicate spreads, and cash conversion — each with an exam trap callout.
90+ Concept Checks 5+ embedded quiz questions per lesson testing EV calculations, DCF concepts, M&A structures, tender offer rules, and more — with detailed explanations.
4 Interactive Exercises Drag-to-rank sorters for priority of claims and SEC filings, plus scenario walkthroughs for IPO execution and hostile tender offer defense.
Exam-Tested Regulatory Detail SEC filing deadlines, Reg M rules, Section 11 liability, tender offer timing, 13D/G/F triggers — the specific facts the exam targets.
Exam Tips & Common Mistakes Callouts on frequently tested traps: Rule 2241 bright-line prohibition, EV/EBITDA vs P/E, bring-down due diligence, and more.
IB Valuation & Financial Analysis DCF, WACC, EV/EBITDA, LBO analysis, accretion/dilution, priority of claims — the quantitative core of the Series 79.
QBank-Linked Lessons Every lesson maps to your practice exam questions by sub-topic — finish a lesson and immediately practice what you just learned.

About the Series 79 Exam

The Series 79 (Investment Banking Representative Qualification Exam) is administered by FINRA for entry-level investment bankers. It requires the SIE exam as a co-requisite and firm sponsorship.

80 Questions
75 scored + 5 unscored
2 Hours 30 Min
Exam time limit
73% to Pass
Passing score
$395 Fee
FINRA exam fee

How to prepare:

  1. Learn the material — Work through this free course starting with Function 1 (Data Analysis & Valuation, 49% of exam), then Underwriting (27%) and M&A (24%).
  2. Master the calculations — Use our Series 79 Cheat Sheet to drill every testable formula, filing deadline, and rule number until they're automatic.
  3. Test your readiness — Take timed practice exams under real conditions. Aim for 80%+ consistently before scheduling your exam.
  4. Know the regulations cold — Reg M, Reg D, Rule 144/144A, Section 11, tender offer timing, and bankruptcy priority of claims appear heavily on the exam.

Section 1: Collection, Analysis and Evaluation of Data

49% of exam ~37 questions · 8 lessons

Master the underwriting process from registration to distribution — public offerings, syndicate mechanics, book building, stabilization, private placements, and registration exemptions. 27% of the Series 79 exam.

Public Offerings and Registration
50 min
The Underwriting Syndicate
50 min
Execution, Distribution and Stabilization
50 min
Post-Execution Activities and Record Keeping
18 min
Registration Exemptions and Private Placements
60 min

Understand the M&A process from both sell-side and buy-side perspectives — deal structuring, fairness opinions, tender offers, and bankruptcy proceedings. 24% of the Series 79 exam.

M&As: Sell-Side Transactions
62 min
M&As: Buy-Side Transactions
94 min
Fairness Opinions and Signing to Closing
58 min
Tender Offer Regulations
55 min
Financial Restructuring and Bankruptcy
55 min

Frequently Asked Questions

Is this Series 79 course really free?

Yes — all 18 lessons are free with no account required. The course covers all 3 FINRA functions with concept checks, exam tips, and in-depth regulatory detail. Practice exams are available separately for $2 each.

What makes this different from other Series 79 prep?

Most Series 79 prep costs $200–$500. This course is free, covers the full FINRA content outline, and each lesson links directly to practice exam questions by sub-topic so you can immediately test what you just learned.

Do I need to pass the SIE first?

The SIE is a co-requisite — you must pass both the SIE and Series 79 to obtain the Investment Banking Representative registration. You can take them in either order, but most candidates pass the SIE first.

Does this cover everything on the Series 79 exam?

Yes. The course covers all 3 FINRA functions: Collection, Analysis and Evaluation of Data (49%), Underwriting and Offerings (27%), and Mergers & Acquisitions (24%). Each lesson maps 1:1 to a sub-topic in the official content outline.

How hard is the Series 79 compared to the SIE?

Significantly harder. The Series 79 tests deep IB-specific knowledge: financial modeling concepts, valuation, deal structure, M&A process, and regulatory frameworks that go well beyond the SIE. Most candidates study 50–60 hours. The $395 exam fee and firm sponsorship requirement reflect the seriousness of this license.