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Series 79 practice test

2026-2027 exam practice page

6 practice questions

Answers and rationales included. Switch between Exam and Study modes.

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Series 79

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Question 1 Equity offerings - IPO process

Question 1: Equity offerings - IPO process

In a firm commitment underwriting of an initial public offering, the underwriter:

Question 2 Securities regulation - registration

Question 2: Securities regulation - registration

Under the Securities Act of 1933, the primary purpose of registering a public securities offering with the SEC is to:

Question 3 Mergers and acquisitions - deal types

Question 3: Mergers and acquisitions - deal types

In a stock-for-stock merger, the shareholders of the target company typically receive:

Question 4 Debt offerings - bond features

Question 4: Debt offerings - bond features

An indenture in a corporate debt offering is best described as:

Question 5 Valuation - M&A analysis

Question 5: Valuation - M&A analysis

In a merger analysis, a transaction is generally considered accretive to the acquirer's earnings per share when:

Question 6 Securities regulation - the prospectus

Question 6: Securities regulation - the prospectus

A preliminary prospectus circulated during the waiting period of a registered offering is commonly known as a:

Question 7 Equity offerings - secondary offerings

Question 7: Equity offerings - secondary offerings

In a secondary offering where existing shareholders sell their shares to the public, the proceeds from the sale generally go to:

Question 8 Debt offerings - credit ratings

Question 8: Debt offerings - credit ratings

A corporate bond rated below investment grade by major rating agencies is commonly referred to as a:

Question 9 M&A - takeover defenses

Question 9: M&A - takeover defenses

A poison pill is a corporate takeover defense that generally works by:

Question 10 Securities regulation - Regulation D

Question 10: Securities regulation - Regulation D

Regulation D under the Securities Act provides exemptions from registration for offerings that are best described as:

Question 11 Valuation - discounted cash flow

Question 11: Valuation - discounted cash flow

When building a discounted cash flow model in investment banking, unlevered free cash flow is typically discounted using the:

Question 12 Equity offerings - underwriting syndicate

Question 12: Equity offerings - underwriting syndicate

In an underwriting syndicate for a public offering, the lead underwriter, often called the bookrunner, is primarily responsible for:

Question 13 M&A - regulatory approval

Question 13: M&A - regulatory approval

Large mergers in the United States may require a pre-merger notification and waiting period under the:

Question 14 Debt offerings - pricing

Question 14: Debt offerings - pricing

When a corporation issues a bond at a coupon rate below the prevailing market yield for similar bonds, the bond will most likely be issued at:

Question 15 Securities regulation - conduct in offerings

Question 15: Securities regulation - conduct in offerings

During the quiet period before a registered offering, an issuer and its underwriters must be careful to avoid:

Question 16 Valuation - precedent transactions

Question 16: Valuation - precedent transactions

A precedent transactions analysis values a company by examining:

Question 17 Equity offerings - the greenshoe

Question 17: Equity offerings - the greenshoe

An over-allotment option, commonly called a greenshoe, allows underwriters to:

Question 18 M&A - synergies

Question 18: M&A - synergies

In merger analysis, cost synergies most commonly arise from:

Question 19 Securities regulation - insider trading

Question 19: Securities regulation - insider trading

An investment banking representative who learns of a confidential pending merger and buys the target's stock before the public announcement has most likely violated:

Question 20 Debt offerings - covenants

Question 20: Debt offerings - covenants

A negative covenant in a bond indenture is best described as a provision that:

Question 1 of 20

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About this practice test

What this 2026-2027 Series 79 Practice Test covers

Purchase access to the current 6-question practice bank, with exam mode, study mode, answers and rationales. The free sample is separate. Purchase includes the current bank only.

Practice material can include variations on the same concept. It is not an official exam or a guarantee of a passing score. Confirm important facts against current authoritative sources.

Work through up to 50 FINRA-style questions built around suitability, risk tolerance, and the wording patterns students usually miss on the first read.
Use answer-by-answer rationales to learn why the correct option wins and why weaker distractors fail in Financial exam situations.
Review 3 real-world analogies, topic article cards, and source checks after each question so recordkeeping and ethics feel easier to recognize under pressure.
Build timing, confidence, and recall with scenario-based practice that feels closer to the real Series 79 than a generic flashcard dump.

Prepare for the Series 79 with realistic FINRA practice questions, timed review, detailed rationales, and real-world analogies that make harder Financial concepts easier to remember.

This practice test is designed for students and professionals preparing for Series 79 who want stronger exam-day confidence, better explanation quality, and more useful answer review than a generic test bank.

Focus areas include suitability, risk tolerance, recordkeeping, ethics, along with scenario-based judgment, careful review of why distractors are less correct, and real-world analogies that help the key ideas stick.

What you will practice on this page

  • Work through up to 50 FINRA-style questions built around suitability, risk tolerance, and the wording patterns students usually miss on the first read.
  • Use answer-by-answer rationales to learn why the correct option wins and why weaker distractors fail in Financial exam situations.
  • Review 3 real-world analogies, topic article cards, and source checks after each question so recordkeeping and ethics feel easier to recognize under pressure.
  • Build timing, confidence, and recall with scenario-based practice that feels closer to the real Series 79 than a generic flashcard quiz.

How to use this exam to study smarter

  1. Start with the 20-question free sample to spot whether suitability or risk tolerance is slowing you down before you buy the full exam.
  2. After each block, review every rationale and the 3 real-world analogies, topic article cards, and source checks so the tested pattern behind recordkeeping becomes easier to remember.
  3. Retake the full Series 79 practice test in timed mode and focus on cleaner decision-making, not just memorizing the last answer.

Students often land on this page after searching for terms like Series 79 practice test, Series 79 practice questions, Series 79 free practice test, Series 79 study guide, FINRA Series 79 practice test, Series 79 suitability questions. That is why the free sample gives you 10 questions first and the full version goes deeper into the tested patterns.

Frequently asked questions

What does this purchase include?

Purchase access to the current 6-question practice bank, with exam mode, study mode, answers and rationales. The free sample is separate. Purchase includes the current bank only.

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After successful payment, sign in with your checkout account and open the exam from your account. You can use exam mode and study mode with answer rationales.

Is this an official exam or a passing-score guarantee?

No. This is independent practice material. Use current official exam objectives and authoritative references alongside it.

Question-linked study articles

Study articles that support Series 79 prep

These guides come from this exam's question topics. Use them after a missed question to review the concept, answer reasoning, distractors, and sources.

PracticeTestVault review illustration for m&a - synergies on Series 79

Question topic: M&A - synergies

Series 79 Review: M&A – synergies

September 26, 2026 2 min read

Review m&a - synergies for this Series 79 question with the key prompt clue, correct-answer reasoning, distractor checks, and sources to verify next.

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