Free Series 86/87 – Research Analyst Exam Questions and Answers
Series 86/87 – Research Analyst Exam is part of FINRA qualification examinations from the Financial Industry Regulatory Authority. FINRA administers the qualification examinations for the US securities industry, including exams it delivers on behalf of other bodies — the Series 63, 65 and 66 are NASAA exams sat through the same system. Passing scores are set per exam rather than shared across the programme.
The first 10 questions on this page are free to read, answers included — no account and no card. A plan opens the rest of the bank, the full timed practice test and your weak-topic reporting.
Last updated: September 12, 2026
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Question #1
A research analyst predicts that consumer spending will increase due to better job reports. How might this affect stocks in the retail sector?
Please select an optionIncorrectCorrect answer: C
Increased consumer spending typically leads to higher sales and profits for retail companies, boosting their stock prices.
Was this answer correct?Question #2
A publicly traded company just announced a significant acquisition. What should an analyst consider when evaluating the impact on stock price?
Please select an optionIncorrectCorrect answer: B
Analysts must consider how the market perceives acquisitions, as positive sentiment can drive stock prices up or down.
Was this answer correct?Question #3
An analyst notices a high P/E ratio in a tech company compared to its peers. What could this indicate?
Please select an optionIncorrectCorrect answer: D
A high P/E ratio often reflects high growth expectations among investors, though it can also indicate overvaluation.
Was this answer correct?Question #4
How should an analyst react to a sudden surge in stock volume on a previously low-volume stock?
Please select an optionIncorrectCorrect answer: C
A surge in volume can imply either new interest or negative news; analysts should investigate the cause for clarity.
Was this answer correct?Question #5
A biotech firm reports trial results that are below expectations. What is a possible immediate effect on the stock?
Please select an optionIncorrectCorrect answer: B
Negative trial results typically lead to a decline in the stock price, as they can affect future revenue projections.
Was this answer correct?Question #6
An analyst uses discounted cash flow analysis to value a company. What is the primary input used in this calculation?
Please select an optionIncorrectCorrect answer: A
The growth rate of expected future cash flows is a critical input in the discounted cash flow analysis.
Was this answer correct?Question #7
If a company has a high debt-to-equity ratio, what risk does this pose?
Please select an optionIncorrectCorrect answer: B
A high debt-to-equity ratio indicates more leverage, which increases financial risk, especially in volatile markets.
Was this answer correct?Question #8
During an earnings call, a company's CEO expresses optimism about upcoming product launches. What should an analyst consider next?
Please select an optionIncorrectCorrect answer: A
Analysts should evaluate how competitors might react to new product launches and the potential market impact.
Was this answer correct?Question #9
A company recently reported a massive revenue increase but also higher costs. What should an analyst prioritize in their report?
Please select an optionIncorrectCorrect answer: C
Analyzing cost management is crucial as it affects profitability despite revenue growth.
Was this answer correct?Question #10
A firm's stock plummets after acquiring a rival. What might be a reason for this?
Please select an optionIncorrectCorrect answer: A
If the merger fails to show synergy or compatible cultures, investors may react negatively, leading to a stock decline.
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FAQ
Learn More: https://www.finra.org/registration-exams-ce/qualification-exams
- Q1: What is the Series 86/87 – Research Analyst Exam exam?
- A: Series 86/87 – Research Analyst Exam is a FINRA certification exam. Judging by the questions in our bank, it concentrates on stock, analyst, analysts, research and ratio.
- Q2: What topics does the Series 86/87 – Research Analyst Exam exam cover?
- A: Questions in our Series 86/87 – Research Analyst Exam bank cluster around stock, analyst, analysts, research, ratio, suggest, firm and increases. Working through the full set is the quickest way to find which of these you are weakest on.
- Q3: How should I prepare for Series 86/87 – Research Analyst Exam?
- A: Work through the Series 86/87 – Research Analyst Exam practice questions here, checking your answer on each one, then sit the practice test to rehearse the exam under timed conditions before the real thing.
- Q4: Are these real Series 86/87 – Research Analyst Exam exam questions?
- A: They are drawn from officially released past questions and from community members who have sat Series 86/87 – Research Analyst Exam. Answers are verified and updated weekly.
- Q5: Where do I register for the Series 86/87 – Research Analyst Exam exam?
- A: Register through FINRA directly at https://www.finra.org/registration-exams-ce/qualification-exams. Exampractice is not affiliated with FINRA and does not administer the exam.
- Q6: Is there a free Series 86/87 – Research Analyst Exam sample?
- A: Yes. Every Series 86/87 – Research Analyst Exam page shows a free sample of real questions. Upgrading opens the full bank and the practice test.
- Q7: What are FINRA Certification Exams?
- A: FINRA (Financial Industry Regulatory Authority) Certification Exams validate your expertise in the financial services industry. These exams assess your knowledge of securities regulations, investment products, ethics, and best practices for financial professionals. They are necessary for obtaining various licenses required to work in different roles within the financial industry.
- Q8: Why should I pursue FINRA Certification?
- A: FINRA Certification enhances your professional credibility, showcasing your understanding of securities laws and regulations. This can lead to better job opportunities, higher salaries, and career advancement in the financial services industry.
- Q9: What are the benefits of FINRA Certification?
- A: Benefits include recognition as a certified financial professional, compliance with industry regulations, improved job performance, access to exclusive resources, and staying current with the latest financial industry standards and practices.
- Q10: Who should take FINRA Certification Exams?
- A: Financial advisors, brokers, investment bankers, compliance officers, and anyone involved in the trading, advising, or managing of securities and investments should consider these certifications to validate their expertise and advance their careers.
- Q11: What types of FINRA Certification Exams are available?
- A: FINRA offers various certification exams, including:
- Q12: How do I prepare for FINRA Certification Exams?
- A: Preparation can include official FINRA study materials, preparatory courses, practice exams, online tutorials, and hands-on experience in the financial industry.
- Q13: Where can I take FINRA Certification Exams?
- A: FINRA Certification Exams can be taken at authorized testing centers nationwide, providing flexibility to fit your schedule and location.
- Q14: How do FINRA Certifications impact my career?
- A: FINRA Certifications significantly boost your career by demonstrating your expertise to employers, making you a more competitive candidate for advanced roles and promotions in the financial services industry.
- Q15: Are there any prerequisites for FINRA Certification Exams?
- A: Some exams may have prerequisites, such as sponsorship by a FINRA member firm or prior completion of other specific exams. Check the specific requirements for each certification path on the FINRA website.
- Q16: How often do I need to recertify for FINRA Certifications?
- A: FINRA Certifications typically require continuing education and periodic renewal to ensure that certified professionals stay updated with the latest financial industry regulations and practices.