What is a FINRA Series 7 license?
What is a Series 7 license? Known as the General Securities Registered Representative license, this license allows you to sell a broad range of securities. … Those who get this license are officially listed as registered representatives by FINRA, but are more commonly referred to as stockbrokers.
What FINRA licenses do I need?
Here’s a rundown of the most common FINRA and NASAA securities licenses: Series 6: If you want to sell mutual funds, variable annuities, and other investment packages, you’ll need this license. … Series 3: If you want to sell commodity futures contracts, you need the Series 3 license, also administered by FINRA.
What is a Series 62 license?
A Series 62 Corporate Securities Limited Representative license qualifies individuals to sell public offerings and/or private placements of corporate stocks, corporate bonds, rights, warrants, REITs, CMOs, and securities of closed-end companies, repos and certificates of accrual on corporate securities; securities …
What are the different FINRA licenses?
FINRA Representative-level Exams
|Series 57 – Securities Trader Representative Exam||1 hour and 45 minutes||50|
|Series 79 – Investment Banking Representative Exam||2 hours and 30 minutes||75|
|Series 82 – Private Securities Offerings Representative Exam||1 hour and 30 minutes||50|
Is Series 7 harder than Sie?
The Series 7 Goes Deeper
The Series 7 exam is essentially a much more difficult SIE exam. It has 125 questions (plus 10 extra that don’t count toward your score) vs 75 for the SIE exam. A key difference in the SIE vs Series 7 is that the content goes much deeper for the Series 7.
Is CFA harder than Series 7?
In short, the Series 7 license is substantially easier to obtain than the Chartered Financial Analyst (CFA) certification. The Series 7 takes only a fraction of the time to prepare for compared to the CFA exams. The material in the Series 7 is not nearly as difficult or extensive.
How much does it cost to get a Series 7 license?
How Much Does It Cost to Take the Series 7 Exam? The exam fee for the Series 7 is $245. Often the fee is covered by your sponsoring FINRA member firm – be sure to check with your sponsor.
What licenses do you need to manage people’s money?
The only universal license requirement for a hedge fund manager is an ordinary business license. Because hedge fund managers are not regulated as brokers, they do not usually need the Series 7 license unless they engage in trading on behalf of customers.
How do I keep FINRA license active?
Keep your registered representative license by maintaining an affiliation with a broker dealer. The optimal way to do this is to affiliate with a firm that can hold both your investment advisory license and your broker dealer license.
What is a Series 65 license required for?
The Series 65 license, known as the Uniform Investment Adviser Law Examination, qualifies individuals to provide investing and general financial advice to clients. Passing the Series 65 exam qualifies individuals as Investment Advisor Representatives (IARs).
What are the Series 7 and 63 licenses?
Description. A Series 7 license allows financial agents or representatives to sell securities. A Series 63 license allows these professionals to sell securities in a specific state. All financial professionals interested in selling securities are required to pass the Series 7 exam.