Free FINRA Series 79 (Investment Banking Representative) Practice Questions
The entire FINRA Series 79 question bank is free: 1,126 practice questions covering financial modeling and valuation, comparable company and precedent transaction analysis, discounted cash flow, due diligence, underwriting and registration of securities, mergers and acquisitions, tender offers, and financial restructuring. From FreeFellow, where 'free' is in the brand name. Public samples need no signup. The full original question bank is free with an account, subject to usage limits.
1,126 questions3 topics2026 syllabus
Built by Jeffrey Ting, FSA, CFA, who passed thirteen of the hardest finance exams on the first attempt. The full question bank and worked solutions are free forever.
Instant readiness score in about 6 minutes. No signup to start.
Sample Questions
Question 1
Easy
Under the Securities Act, Rule 425 addresses which aspect of a business combination?
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Correct Answer: B
Solution
B is correct. Rule 425 governs the filing of prospectuses and written communications made in connection with a business combination, allowing parties to make permitted Rule 165/Rule 135 communications provided each is filed with the SEC on the date of first use. It is a communications-filing rule, not a registration, proxy, or timing rule.
Question 2
Medium
Which statement best describes how a flip-in shareholder rights plan (poison pill) operates as a takeover defense?
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Correct Answer: B
Solution
B is correct. A flip-in poison pill is triggered when a hostile acquirer accumulates shares beyond a specified threshold (often 10% to 20%). Upon triggering, all shareholders except the acquirer gain the right to purchase additional shares at a steep discount. The resulting issuance massively dilutes the acquirer's ownership stake and economic interest, making the takeover prohibitively expensive and forcing the bidder to negotiate with the board.
Question 3
Hard
A distribution participant in a firm commitment IPO of an actively traded Nasdaq stock wants to support the secondary market on pricing day. Considering Regulation M, which action is permissible?
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Correct Answer: B
Solution
B is correct. Under Regulation M Rule 104, a stabilizing bid is permitted only at a price no higher than the offering price (and no higher than the highest independent bid). Such bids are the single sanctioned form of price support; they prevent a decline but may not be used to raise the price.
What Series 79 candidates are saying
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Free practice questions, worked solutions, and written lessons.
The full original question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your Series 79 prep are free forever. Full access requires a free account and is subject to usage limits. No trial period, no credit card. Become a Fellow ($79/qtr) only if you want mock exams, flashcards, analytics, and a personalized study plan.
What's Free, and What Fellow Unlocks
The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Full access requires a free account and is subject to usage limits. Fellow adds mock exams, flashcards, analytics, and a personalized study plan.
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1,126 practice questions with detailed solutions
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking based on practice history
No paywalls on original questions · no trial period · no credit card
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$39 / mo · $79 / qtr per track · $199 / yr as Fellow Plus
Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
Personalized study plan that adapts to your exam date
Series 79 uses continuous testing: candidates schedule on demand at a test center rather than waiting for a fixed sitting window. Confirm scheduling details and fees directly with FINRA before registering.
Frequently Asked Questions
How many free Series 79 practice questions does FreeFellow have?
FreeFellow currently offers 1126 free Series 79 practice questions across 3 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What Series 79 topics are covered?
The questions cover 3 topics: Collection, Analysis and Evaluation of Data, Underwriting, Offerings and Registration of Securities, Mergers and Acquisitions, Tender Offers and Financial Restructuring. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
How many questions are on the Series 79 exam, and how long is it?
The Series 79 delivers 80 multiple-choice questions, of which 75 are scored and 5 are unscored pretest items that do not count toward your result (FINRA). Testing time is 2 hours 30 minutes. FreeFellow's Series 79 practice questions follow this format, and the free mixed practice draws from the full bank.
What is a passing score on the Series 79?
Series 79 is graded at 73 (FINRA). FreeFellow's readiness score estimates where you sit against that bar from your own practice history, and it is free.
Is FreeFellow really free for Series 79 prep, or is there a catch?
The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free. The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Timed mock exams, spaced-repetition flashcards, AI grading on supported exams (5 attempts a day), performance analytics, and a personalized study plan. Practice and grading usage limits apply.
What does the $79 Fellow tier unlock for Series 79?
Fellow is $39 per month or $79 per quarter, per exam family (USD). Fellow Plus is $49 per month, $99 per quarter, or $199 per year, per exam family (USD). Every annual plan is Fellow Plus. Fellow adds timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else (questions, solutions, lessons) stays free.
How does FreeFellow compare to Kaplan, Knopman, or Securities Training on price?
The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free. The original question bank, worked solutions, and written lessons stay free forever. Fellow is $39 per month or $79 per quarter, per exam family (USD). See https://freefellow.org/pricing for package prices and coverage.
How should I use FreeFellow to study for Series 79?
Start with topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. If you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
Do I need employer sponsorship to take the Series 79?
No. The SIE (Securities Industry Essentials) does not require employer sponsorship. You can register directly through FINRA and take it at a Prometric testing center (FINRA).
About FreeFellow
Jeffrey Ting
FSA, CFA · Founder
FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who has passed thirteen of the hardest exams in finance, all on his first attempt. He paid four-figure prep fees along the way.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 40 exams with more than 45,000 original practice questions.
01
Cost shouldn't decide who gets in.
A CFA charter, a CPA license, an actuarial credential. Each opens a real career, but prep fees add to the cost of getting there. FreeFellow keeps its original question bank and written lessons free so you can study even if a paid course is out of reach.
02
Free should mean free.
The original question bank, the worked solutions, the topic lessons, mixed practice, and your readiness score stay free, forever. Full access needs a free account, and practice usage limits apply. Fellow adds AI grading on supported exams, spaced-repetition flashcards, full-length mock exams, analytics, and a study plan that adapts to your progress.
All 1,126 Series 79 questions, worked solutions, and lessons are free. The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free.
