Series 4

Registered Options Principal

The Series 4 exam qualifies candidates to supervise options trading activities at broker-dealer firms. As a Registered Options Principal (ROP), you are responsible for approving options accounts, supervising trading and sales activities, ensuring compliance with exchange and OCC rules, and overseeing margin and position limit compliance. This principal-level exam requires a representative-level registration as a prerequisite.

Overall Progress 0%

Chapters

1

Options Account Supervision

Account approval process, suitability requirements, ODD delivery, and account types

30 min read
2

Options Trading Supervision

Order handling, execution quality, strategy review, and record retention

30 min read
3

Exercise & Assignment

Exercise procedures, assignment process, settlement, and delivery obligations

30 min read
4

Position & Exercise Limits

Position limits, exercise limits, reporting requirements, and aggregation rules

30 min read
5

Options Margin

Margin requirements for covered and uncovered positions, spreads, and CBOE/OCC rules

35 min read
6

Options Regulations

OCC rules, exchange rules, communications, advertising, and regulatory compliance

30 min read