Series 79 Exam Preparation
Become a certified Investment Banking Representative with Study Alpha Academy's comprehensive training program. Master financial analysis, M&A, capital raising, and regulatory compliance to advance your investment banking career.
Enroll NowAbout the Series 79 Exam
What is the Series 79 Exam?
The Series 79 – Investment Banking Representative Exam, conducted by FINRA, is a qualification exam designed to assess the competency of entry-level professionals who wish to work in investment banking. The exam tests a candidate's ability to perform critical IB functions such as analyzing financial data, advising on debt/equity securities offerings, executing mergers and acquisitions (M&A), and supporting financial restructuring transactions.
Important Update
Effective Oct 27, 2025: FINRA has reduced the number of unscored (pretest) questions from 10 to 5 on the SIE, Series 7, and Series 79 exams. The exam duration remains the same.
Registration Requirements
To obtain the Investment Banking Representative registration, candidates must pass:
- SIE – Securities Industry Essentials Exam
- Series 79 Exam
Passing both exams shows that the candidate has the required foundation and advanced investment banking knowledge needed to work as a licensed investment banking representative.
Exam Details
Exam Syllabus & Structure
Three Major Job Functions
The Series 79 exam evaluates a candidate's ability to perform the core functions of an investment banking representative. The exam is divided into three major job functions:
F1: Collection, Analysis & Evaluation of Data
37 questions covering financial statement analysis, valuation techniques, industry analysis, due diligence, and deal preparation.
F2: Underwriting & New Financing Transactions
20 questions covering securities offerings, registration requirements, underwriting processes, and investor communications.
F3: M&A, Tender Offers & Financial Restructuring
18 questions covering M&A execution, deal structuring, fairness opinions, tender offers, and financial restructuring.
Detailed Syllabus Topics
F1: Data Collection & Analysis
- Financial Statement Analysis
- Valuation Techniques (DCF, Comps)
- Industry and Market Analysis
- Due Diligence Activities
- Deal Preparation Work
F2: Underwriting & Financing
- Types of Securities Offerings
- Registration & Regulatory Requirements
- Underwriting Process
- Due Diligence & Documentation
- Investor Communications Rules
F3: M&A & Restructuring
- M&A Execution
- Deal Structuring
- Fairness Opinions
- Tender Offers
- Financial Restructuring
Our Preparation Features
Live Interactive Classes
Instructor-led, real-time sessions teaching the full Series 79 syllabus with emphasis on application and deal mechanics.
Recorded Classes
Complete, searchable video library of every live session for unlimited revision and flexible learning.
1-to-1 Mentorship
Individual coaching sessions tailored to each student's weak areas, exam strategy, or career planning.
Performance Tracking
Data-driven tracking system with weekly tests and analytics to measure learning progress.
Latest Exam Pattern
Course content continuously updated to match current FINRA exam blueprint and regulatory changes.
Exam-Oriented Materials
Concise, high-yield notes, formula sheets, and practice sets designed for efficient exam preparation.
Study Materials Included
Complete Theory Notes
Detailed, well-structured notes covering the entire Series 79 syllabus.
Practice Sheets
Chapter-wise practice questions with detailed solutions and explanations.
Formula Sheets
Quick revision material with key formulas, definitions, and high-yield concepts.
Career Options After Certification
Investment Banking Analyst
Support deal origination and execution, create pitchbooks, prepare financial models, and run valuation analyses for M&A and capital raising transactions.
M&A Analyst
Focused on buy-side and sell-side M&A: target screening, building accretion/dilution models, synergy estimation, and transaction structuring.
Capital Markets Analyst
Support equity capital markets (ECM) or debt capital markets (DCM) teams in structuring and executing public offerings and debt issuances.
Corporate Finance Specialist
Work inside corporates on budgeting, strategic projects, capital structure optimization, and evaluation of financing options.
Private Equity Analyst
Assist with sourcing deals, due diligence, financial modeling, portfolio monitoring, and exit planning for private equity funds.
Transaction Advisory Associate
Provide strategic and financial advisory to clients including valuation, financial due diligence, and transaction support.