Series 7 license
Administered by FINRA and known as the general securities representative license, the Series 7 license authorizes you to sell virtually any type of individual security, such as preferred stocks, options, bonds, and other individual fixed income investments—plus all forms of packaged products.
What is a securities license required for?
What Are Securities Licenses? Securities licenses are needed by anyone who wants to market and sell investments. The specific type of license depends on what type of investments the person wants to sell, how they expect to get paid, and what level of service they want to be able to provide to their customers.
Is it hard to get a securities license?
Becoming securities licensed is a demanding process that includes a selection of a broker-dealer, passing the required securities and insurance exams, and a personal background check. Once the initial requirements have been satisfied, then the real work of building up a business from scratch begins.
What are all of the securities licenses?
United States
- SIE – Securities Industry Essentials Exam*
- Series 00 – General Securities Principal Exam (Discontinued)
- Series 1 – Registered Representative Exam (Discontinued)
- Series 2 – Non-Member General Securities Exam (Discontinued)
- Series 3 – National Commodities Futures Exam*
- Series 5 – Interest Rate Options Exams.
How much does it cost to get a securities license?
FINRA Representative-level Exams
| Duration | Cost | |
|---|---|---|
| Series 7 – General Securities Representative Exam | 3 hours and 45 minutes | $245 |
| Series 22 – Direct Participation Programs Limited Representative Exam | 1 hour and 30 minutes | $40 |
| Series 57 – Securities Trader Representative Exam | 1 hour and 45 minutes | $60 |
How long is CSC exam?
2 Hours
EXAM WEIGHTINGS (weightings are approximate)
| EXAM INFORMATION | |
|---|---|
| Exam Format | Proctored (remote or in person at a test centre) |
| Exam Duration | 2 Hours |
| Question Format | Multiple Choice |
| Questions Per Exam | 100 |
Is series 6 or 7 harder?
Of the two, the Series 7 is the tougher but more comprehensive exam. It allows you to deal with almost any type of security, from stocks to bonds to investment trusts and funds, that a professional or retail investor would want.
Is the Series 7 exam hard?
Is the Series 7 Exam Difficult? Clocking in at 125 questions to be answered in three hours and 45 minutes, the Series 7 exam is considered the most difficult of all the securities licensing exams. The minimum passing score is 72, which may not seem that difficult.
Do you need a securities sales license to do business?
Sales professionals need a securities sales license to do business because the vast majority of insurance/financial products are packaged with securities. The Series 6 Securities Sales License is known more formally by FINRA as the Limited-Investment Securities License. It covers groups of securities that are sold together as a single unit.
Can you sell individual company securities with a series 6 license?
If you only have a Series 6 license, then you cannot sell individual company securities or options. You are not licensed to take stock orders from customers, and you are not allowed to trade options. These products fall under the Series 7 and other licenses and are generally not associated with insurance products.
The Series 6 exam costs $40; the Series 7 costs $245; the Series 63 costs $135; the Series 65 costs $175; and the Series 66 costs $165. 7 There are also other fees associated with getting a license, such as the cost of a study course to prepare for the exam. What Jobs Can You Get With a Securities License?
Where can I find a list of securities licenses?
These are the most common securities licenses. You can find a more comprehensive list at the FINRA and NASAA websites. Keep in mind that to earn some of these licenses, like the Series 6 and Series 7, you will need to be sponsored by or work for a broker-dealer.
