Interview Resources

Wealth Management Interview Questions 

50+ Top Interview Questions and Answers in 2023 | The Muse 

Note: Wealth management internship interviews usually weigh more heavily on behavioral questions due to the emphasis on client relationships

Test Preparation

Asset / Wealth Management usually requires the passing of several securities exams by FINRA. Below you will find a brief description of these tests a link to practice questions and a link to the official website of the test.

Securities Industry Essentials (SIE) Exam:

1. • The Securities Industry Essentials (SIE) exam is an introductory-level exam introduced by FINRA in 2018. It assesses a candidate's knowledge of fundamental securities industry concepts, including regulatory agencies, types of products and their risks, market structure, and prohibited practices.

   • Passing the SIE exam is a prerequisite for individuals who want to work in the securities industry and must subsequently take additional qualification exams, such as the Series 6, Series 7, or Series 79, depending on their specific roles.

   • The SIE exam consists of 75 multiple-choice questions, and candidates have 105 minutes to complete it. It is designed to provide a foundational understanding of the securities industry for entry-level professionals.

   • Securities Industry Essentials® (SIE®) Exam | FINRA.org 

   • Practice Test for the Securities Industry Essentials Exam (SIE) | FINRA.org 

Series 66 - Uniform Combined State Law Exam:

1. • The Series 66 exam, also known as the Uniform Combined State Law Examination, is designed to qualify individuals as both securities agents and investment advisor representatives. It combines the content of the Series 63 and Series 65 exams.

   • The Series 66 exam covers topics such as investment strategies, portfolio management, regulatory requirements, and ethical considerations. It assesses a candidate's ability to provide investment advice and handle client accounts within the framework of state and federal securities laws.

   • Passing the Series 66 exam, along with the Series 7 exam, fulfills the regulatory requirements for individuals who want to work as investment advisor representatives and securities agents.

   • The Series 66 exam consists of 100 multiple-choice questions, and candidates have 150 minutes to complete it.

   • Series 66 – Uniform Combined State Law Exam | FINRA.org 

   • Free Series 66 Exam (Practice Test) | Updated 2024 (mometrix.com) 

Series 7 - General Securities Representative Exam:

1. • The Series 7 exam, also known as the General Securities Representative Exam, is a comprehensive test of a candidate's knowledge of securities industry rules, regulations, and practices. It assesses the competency of entry-level general securities representatives to perform their job as registered representatives.

   • The Series 7 exam covers a broad range of topics, including equity and debt securities, options, mutual funds, investment banking, and regulatory requirements. It is one of the most widely recognized exams for individuals who want to work in the securities industry.

   • Passing the Series 7 exam is a prerequisite for most other securities licensing exams and is often required for individuals who want to work as stockbrokers, investment advisors, or in other roles within the financial services industry.

   • The Series 7 exam consists of 125 multiple-choice questions, and candidates have 225 minutes to complete it.

   • Series 7 – General Securities Representative Exam | FINRA.org 

   • Free Series 7 Practice Exam (2024) with explanations | Practice Questions for the Series 7 Exam | Achievable 

The CFP - Certified Financial Planner Exam

• The CFP, also known as the Certified Financial Planner Exam, is a comprehensive test to determine if the taker is in the upper echelon of financial planners. The test is not required by any agencies but is seen as a sign of legitimacy within the worlds of wealth management and financial advising.

• The test covers a variety of topics ranging from ethics to insurance. The test itself takes six hours and includes 175 questions. All questions are multiple-choice, some are standalone others are from case studies. The CFP is known as the gold standard for financial planners.

• About the CFP Exam | CFP Board 

• CFP Practice Test - Certified Financial Planner Practice Test - 2024 Updated (tests.com) 

The CFA - Chartered Financial Analyst Exam

• The CFA, also known as the Chartered Financial Analyst exam, is a three-part exam covering topics ranging from economics to ethics.

• Study time for the test can range from person to person but it is widely believed that 300 hours of study will put you in a good position. Each part of the exam is taken separately and covers different topics. Becoming a CFA by passing the third exam can take 3-5 years.

• The CFA demonstrates that the individual holds exceptional knowledge about a wide range of financial topics. Becoming a CFA can boost your resume for almost any financial career, but is especially common in wealth management or financial advising.

• Exam Information, Dates and Fees (cfainstitute.org) 

• Free CFA Practice Questions [2023] | 500+ Questions | Test-Guide 

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