Series 87 (FINRA Series 87 — Research Analyst (Regulations)) — Free Online Mock Test

Series 87 exam at a glance

Series 87 full-length mock tests

Attempt 50 full-length Series 87 mock tests, each a distinct question set built on the real 50-question, 105-minute pattern — with instant scoring and section-wise analysis. The first 3 are free.

Series 87 key facts & eligibility

Who is eligible for Series 87?

Requires association with and sponsorship by a member firm, and the SIE is a co-requisite. The CFA/CMT exemption that applies to the Series 86 does not apply to the Series 87.

Last verified July 2026 against FINRA — Series 86 & 87. Always confirm current details on the official website before you register.

Series 87 section breakdown

The Series 87 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 87 Full Exam (50 Q)
  50 questions · 105 minutes · ~126 sec/question

Series 87 scoring & marking scheme

Strategy: Series 87 has no negative marking. Attempt every question — blank answers cost you potential marks but cannot pull your score down.

Scale: Series 87 (pass 74%).

How Series 87 is conducted

• Mode
  Proctored — Wrexa Edge mirrors this with a webcam-based proctoring flow (face detection, room scan, fullscreen lock, tab-switch detection).
• Test format
  Linear / fixed-form — every candidate sees the same number of questions per section.
• Backtracking
  Allowed — you can revisit and change answers within a section.
• Mark for review
  Available — flag tough questions and return to them before submitting the section.

Series 87 time strategy

With 50 questions in 105 minutes, you have about 126 seconds per question on average. Successful candidates aim for the following pacing on each section:

• Series 87 Full Exam (50 Q)
  Target ~126 sec/question. If a question takes more than 189 seconds, mark for review and move on.

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 87 topics covered

Across the 50 Wrexa Edge variants of Series 87, the following topics appear most often (sample distribution from one variant):

Series 87 Full Exam (50 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 87 difficulty calibration

Advanced tier. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep.

FINRA research analyst Part 2 — completes the Series 86/87 pair. 50 MCQ in 105 min covering regulatory framework, conflicts of interest, Rule 2241, disclosures, FINRA rules. 74% to pass. · Official language: English.

Verified content — Wrexa Edge's Series 87 bank has been deeply curated with real exam-aligned content (estimated 100% syllabus coverage).

How Wrexa Edge prepares you for Series 87

• Real test-day interface
  Our cert skin mirrors the actual Series 87 testing software — same timer, palette, tools, and navigation.
• 50 distinct variants
  2500 unique practice questions, each variant a fresh test — not just shuffled options.
• Detailed analytics
  Scaled score, section accuracy, topic-wise heatmap, time-per-question — see where to focus after every attempt.
• Spaced repetition (Notebook)
  Wrong answers and flagged questions flow into an SM-2 spaced-repetition deck so you actually retain what you learn.
• Optional proctoring
  Browser-based face-api detection (no install) — turn it on to simulate real Series 87 test-day conditions.
• Free to start
  No credit card. Sign up, pick a variant, and your first Series 87 mock starts in under a minute.

Expert take: what Series 87 really tests

The Series 87, from FINRA, is Part II (Regulations) of the Research Analyst Qualification Examination. It has 50 scored multiple-choice questions in 1 hour 45 minutes, with a passing score of 74%. The SIE is a co-requisite, firm sponsorship is required, and the CFA/CMT exemption that applies to the Series 86 does not apply here. Both the Series 86 and Series 87 are required to register as a research analyst.

Series 87 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.

Where Series 87 can take you

A strong Series 87 result opens up these careers and higher-study paths:

• Research Analyst (Regulations)
  Series 87 is Part II of the Research Analyst qualification.
• Both parts required
  Series 86 and 87 together qualify a research analyst.

Best books & official prep for Series 87

• Series 86/87 content outline — FINRA
  Official scope for the regulations part.
• Research Analyst (Series 87) exam prep — Various
  50 scored questions; pass 74%.

Official practice: Study the FINRA Series 87 content outline on research rules and regulations; the SIE is a co-requisite and the pass mark is 74%.

Previous-year papers: FINRA publishes the content outline; commercial providers supply practice questions.

Frequently asked questions

What is the Series 87 exam pattern?

FINRA Series 87 — Research Analyst (Regulations) contains 50 questions across 1 section: Series 87 Full Exam (50 Q). Total duration is 105 minutes (about 126 seconds per question).

Does Series 87 have negative marking?

No — Series 87 has no negative marking. Each correct answer is worth 1 mark, so attempt every question.

How is Series 87 scored?

Scaled score range: 100 to 1000. Series 87 (pass 74%).

How can I practise Series 87 online for free?

Wrexa Edge gives you 3 free full-length Series 87 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 87?

Series 87 is rated Advanced difficulty on Wrexa Edge. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep. FINRA research analyst Part 2 — completes the Series 86/87 pair. 50 MCQ in 105 min covering regulatory framework, conflicts of interest, Rule 2241, disclosures, FINRA rules. 74% to pass. · Official language: English.

How long is the Series 87 exam?

Series 87 runs for 105 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 87?

Series 87 is split into: Series 87 Full Exam (50 Q). Each section is timed and weighted separately. FINRA research analyst Part 2 — completes the Series 86/87 pair. 50 MCQ in 105 min covering regulatory framework, conflicts of interest, Rule 2241, disclosures, FINRA rules. 74% to pass. · Official language: English.

What tools or aids are allowed during Series 87?

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 87 test adaptive?

No — Series 87 is a fixed-form (linear) test. Every candidate sees the same number of questions per section.

How many Series 87 mock tests does Wrexa Edge offer?

Wrexa Edge generates 50 distinct Series 87 variants — each with different question content, not just shuffled options — the first 3 free for everyone and 47 more with Pro. That's 2500 unique practice questions in the real test-day interface.

Is there a free Series 87 test series 2026?

Yes. The Wrexa Edge Series 87 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 87 previous year question–style papers included?

Every Series 87 mock is modelled on the official exam pattern and the style of previous years' papers — the same 50-question structure, sections and marking — so your practice mirrors the real paper you'll sit.

Which is the best free Series 87 mock test online?

Wrexa Edge's Series 87 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 87 mock test on mobile?

Yes. Series 87 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 87 syllabus?

The Series 87 syllabus maps to its 1 section: Series 87 Full Exam (50 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 87?

Requires association with and sponsorship by a member firm, and the SIE is a co-requisite. The CFA/CMT exemption that applies to the Series 86 does not apply to the Series 87. Wrexa Edge focuses on realistic Series 87 practice: 3 free full-length mocks in the exact exam pattern, ready whenever you are.

When is the Series 87 exam and how should I prepare?

Official Series 87 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 87 mocks with instant scoring so you can track your readiness week by week.

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Ready to ace Series 87?

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