Series 22 (FINRA Series 22 — Direct Participation Programs Representative) — Free Online Mock Test
Series 22 · 100 Q in 150m. DPP/limited partnership offerings — products, taxation, evaluation, regulations & suitability for retail clients. Pass 70%. · Official language: English.
Series 22 exam at a glance
Series 22 full-length mock tests
Attempt 50 full-length Series 22 mock tests, each a distinct question set built on the real 60-question, 150-minute pattern — with instant scoring and section-wise analysis. The first 3 are free.
Series 22 key facts & eligibility
| Conducting body | Financial Industry Regulatory Authority (FINRA) |
|---|---|
| Official website | finra.org ↗ |
| Mode | The Direct Participation Programs (DPP) Limited Representative qualification (Series 22) — a representative-level exam qualifying you to solicit and sell direct participation programs such as limited partnerships in real estate, oil and gas, and equipment leasing. It is a computer-based test at a Prometric centre. |
| Frequency | On demand, year-round once your firm opens a testing window. |
| Scoring & marking | The Series 22 has 50 scored questions in 90 minutes, and you need 70% to pass. It covers seeking business from customers, opening accounts and evaluating customers’ financial profiles, providing DPP information and recommendations, and processing transactions. |
| Score validity | Valid while you remain registered; it lapses after a set period out of the industry unless maintained through continuing education. |
| Language | English. |
Who is eligible for Series 22?
You must be associated with and sponsored by a FINRA member firm, and the SIE is a co-requisite for the DPP registration.
Last verified July 2026 against FINRA — Series 22. Always confirm current details on the official website before you register.
Series 22 section breakdown
The Series 22 mock test on Wrexa Edge replicates the real exam's section structure — same names, same question count per section, same time limits. No inter-section breaks — the timer runs continuously.
-
Series 22 (60 Q)
Series 22 scoring & marking scheme
Strategy: Series 22 has no negative marking. Attempt every question — blank answers cost you potential marks but cannot pull your score down.
Scale: Series 22 (pass 700/1000).
How Series 22 is conducted
- Mode
- Test format
- Backtracking
- Mark for review
Series 22 time strategy
With 60 questions in 150 minutes, you have about 150 seconds per question on average. Successful candidates aim for the following pacing on each section:
- Series 22 (60 Q)
Wrexa Edge's analytics show your actual time-per-question after every mock so you can spot which sections you're losing time on.
Series 22 topics covered
Across the 50 Wrexa Edge variants of Series 22, the following topics appear most often (sample distribution from one variant):
Series 22 (60 Q)
- FINRA — Supervision · 5
- Series 79 — Rule 144 · 2
- Series 79 — Underwriting · 2
- Series 6 — Mutual Funds · 1
- Series 63 — USA · 1
- Series 63 — Definition · 1
- Series 63 — Howey Test · 1
- Series 63 — Agent · 1
Series 22 difficulty calibration
Advanced tier. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep.
Series 22 · 100 Q in 150m. DPP/limited partnership offerings — products, taxation, evaluation, regulations & suitability for retail clients. Pass 70%. · Official language: English.
Verified content — Wrexa Edge's Series 22 bank has been deeply curated with real exam-aligned content (estimated 100% syllabus coverage).
How Wrexa Edge prepares you for Series 22
- Real test-day interface
- 50 distinct variants
- Detailed analytics
- Spaced repetition (Notebook)
- Optional proctoring
- Free to start
Expert take: what Series 22 really tests
The Series 22 (Direct Participation Programs Limited Representative) is a representative-level exam — 50 scored questions in 90 minutes, needing 70% to pass — qualifying you to solicit and sell DPPs such as real-estate, oil-and-gas and equipment-leasing limited partnerships. The SIE is a co-requisite.
Preparation tips
- Learn DPP product structures and their tax/risk characteristics.
- Focus on customer suitability and disclosure for DPPs.
- Prepare the Series 22 together with the SIE co-requisite.
Common mistakes to avoid
- Overlooking the SIE co-requisite when planning.
- Underestimating DPP-specific suitability and disclosure rules.
Series 22 study plan
A phase-by-phase roadmap from your first concept to test-ready. Stretch or compress each phase to fit the time you have before your attempt.
- Direct participation programs and limited partnerships
- Real estate, oil & gas, equipment leasing
- SIE co-requisite study
- Customer financial profiles and suitability
- DPP recommendations and disclosures
- Processing transactions
- Full-length Series 22 practice exams
- Target 70%+ consistently
- Review DPP suitability rules
Where Series 22 can take you
A strong Series 22 result opens up these careers and higher-study paths:
- DPP representative
- Limited-partnership sales
- Firm-sponsored
- SIE co-requisite
Best books & official prep for Series 22
- Series 22 exam-prep (STC, Kaplan) — Various
- FINRA Series 22 content outline — FINRA
Official practice: Study the FINRA Series 22 content outline together with the SIE; focus on DPP products, customer suitability and transaction processing.
Previous-year papers: No past papers are released; use the content outline plus a prep provider’s question bank.
Frequently asked questions
- What is the Series 22 exam pattern?
- FINRA Series 22 — Direct Participation Programs Representative contains 60 questions across 1 section: Series 22 (60 Q). Total duration is 150 minutes (about 150 seconds per question).
- Does Series 22 have negative marking?
- No — Series 22 has no negative marking. Each correct answer is worth 1 mark, so attempt every question.
- How is Series 22 scored?
- Scaled score range: 100 to 1000. Series 22 (pass 700/1000).
- How can I practise Series 22 online for free?
- Wrexa Edge gives you 3 free full-length Series 22 mock tests — with instant scoring, detailed explanations and analytics — plus 47 more with Pro. Start practising in under a minute, no card required.
- What is the difficulty level of Series 22?
- Series 22 is rated Advanced difficulty on Wrexa Edge. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep. Series 22 · 100 Q in 150m. DPP/limited partnership offerings — products, taxation, evaluation, regulations & suitability for retail clients. Pass 70%. · Official language: English.
- How long is the Series 22 exam?
- Series 22 runs for 150 minutes total. On Wrexa Edge the timer is enforced exactly as on the real exam — including no inter-section breaks.
- What topics are covered in Series 22?
- Series 22 is split into: Series 22 (60 Q). Each section is timed and weighted separately. Series 22 · 100 Q in 150m. DPP/limited partnership offerings — products, taxation, evaluation, regulations & suitability for retail clients. Pass 70%. · Official language: English.
- What tools or aids are allowed during Series 22?
- No special tools are required. Note: real exam is proctored — Wrexa Edge mirrors this with a webcam-based proctoring flow you can enable.
- Is the Series 22 test adaptive?
- No — Series 22 is a fixed-form (linear) test. Every candidate sees the same number of questions per section.
- How many Series 22 mock tests does Wrexa Edge offer?
- Wrexa Edge generates 50 distinct Series 22 variants — each with different question content, not just shuffled options — the first 3 free for everyone and 47 more with Pro. That's 3000 unique practice questions in the real test-day interface.
- Is there a free Series 22 test series 2026?
- Yes. The Wrexa Edge Series 22 test series for 2026 gives you 3 free full-length mock tests (50 in total) plus subject-wise and topic-wise tests — instant scoring and detailed analysis, no card required.
- Are Series 22 previous year question–style papers included?
- Every Series 22 mock is modelled on the official exam pattern and the style of previous years' papers — the same 60-question structure, sections and marking — so your practice mirrors the real paper you'll sit.
- Which is the best free Series 22 mock test online?
- Wrexa Edge's Series 22 mock test replicates the real exam interface, timing and marking scheme, with instant score, section-wise analysis and 50 fresh variants — a strong free choice for 2026 preparation.
- Can I take the Series 22 mock test on mobile?
- Yes. Series 22 mock tests run in any browser on mobile, tablet or desktop — no app or download needed. Start on your phone and your progress and analytics sync when you sign in.
- What is the Series 22 syllabus?
- The Series 22 syllabus maps to its 1 section: Series 22 (60 Q). Wrexa Edge's mock tests cover the complete syllabus topic by topic — see the topics-covered breakdown above — so you practise every area at real exam difficulty.
- What is the eligibility for Series 22?
- You must be associated with and sponsored by a FINRA member firm, and the SIE is a co-requisite for the DPP registration. Wrexa Edge focuses on realistic Series 22 practice: 3 free full-length mocks in the exact exam pattern, ready whenever you are.
- When is the Series 22 exam and how should I prepare?
- Official Series 22 exam dates are announced by the conducting body for each cycle — check the latest notification for the current schedule. To be ready, follow a phased study plan and take full-length timed mocks; Wrexa Edge gives you 3 free Series 22 mocks with instant scoring so you can track your readiness week by week.
Related exams & practice tests
Candidates preparing for Series 22 also practise these on Wrexa Edge:
Browse more: All Finance & Professional exams → · All United States exams → · Full exam catalog →
Ready to ace Series 22?
Join thousands of candidates practising on Wrexa Edge. Free signup, 50 variants per exam, instant scoring.
Start practising free →