This practice exam book with four 50-question exams will help candidates pass the Direct Participation Programs Representative Qualification Examination (Series 22). It features material on each function covered on the Series 22 exam, including 1) Seeks Business for the Broker-Dealer from Customers and Potential Customers, 2) Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives, 3) Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records, and 4) Obtains and Verifies Customers’ Purchase Instructions and Agreements; Processes, Completes and Confirms Transactions. After each practice exam the answers are shown with explanations. The answers also show what section of the syllabus the question is from and lists the FIRNA rules and SEC and IRS regulations that were the source of information in the question. Philip Martin McCaulay has sold over 20,000 study guides in fields such as pensions, investments, finance, real estate, and math, including over 4,000 study guides and practice exam books for the Series 6, Series 7, Series 57, Series 63, Series 65, Series 66, and SIE exams since he first started writing them in 2008, most of which were top 100 best sellers in the professional test guides category. He is an actuary with a degree in Mathematics from Indiana University. He is a Fellow of the Society of Actuaries (FSA) and an Enrolled Actuary (EA). He has over 40 years of experience as an actuarial consultant on pension funds. His investment experience includes assessing investment vehicles for providing retirement benefits, reviewing Statements of Investment Policy, identifying sources of investment risk, measuring investment performance relevant to given benchmarks, evaluating how cash flow requirements impact setting investment strategy, applying strategies for asset/liability management, estimating long-term rates of return for investment portfolios, and providing advice and analysis to pension plan sponsors regarding the mitigation of investment risks.