The series 7 alone lasts six hours so you should take a few full length practice exams to improve your stamina. Finra series industry essentials the sie is a core requirement to obtaining a series 6 7 79 or 99 license.
You must take both the finra sie exam plus pass the applicable series exam now referred to as top off exams for the 6 7 79 or 99 to earn that specific license.
How long does it take to get a series 7 license. Register for the series 6 exam. The series 24 is the securities license entitling the holder to supervise and manage branch activities. An approved financial services company or self regulated organization sro must sponsor you to take the series 7 exam.
With your series 7 license and series 63 65 or 66 license you are now fully licensed to work with securities. The financial industry regulatory authority finra administers the series 7 license. You cannot work as a broker without one.
Enroll for the series 6 license exam on finra you will need to create an account with finra. You can t just cram for the test at the last minute and expect to pass. Study for the series 7 exam.
Anyone tangentially involved in the buying selling recommending or dealing of securities may be required to take the series 7. Passing finra exams like the series 7 and series 66 is a bit like running a marathon according to e financial careers. The series 63 65 and 66 licenses do not expire as long as you continue to be employed and a member of finra.
You will need to complete continuing education periodically to keep your series 7 license up to date. Before taking the series 24 exam a candidate must pass a prerequisite exam the. Most candidates also choose to take the sie before they take the series 7 but you can take it first if you prefer and the sie afterwards.
If you work in the financial services or banking industries you will not be able to hold management or advisory positions that require you to make decisions based on certain securities products until you get your series 7 license. The licensing exam is not exactly a walk in the park. The fee for registration is 100 and the registration period lasts for one hundred twenty 120 days.
Once you secure your sponsorship you can take the top off exam for the series 7 license. After you have gained sponsorship by a finra member you are ready to register to take your exam. The series 63 license known as the uniform securities agent license is required by each state and authorizes licensees to transact business within the state.
All series 6 and series 7 licensees. A series 7 license allows you to place trades on behalf of your brokerage clients. Once you become a licensed broker you do not have to take the exam again.
In practice the series 7 is taken by a far broader group of finance professionals. The series 7 has been traditionally thought of by finance newbies as a stockbroker exam. How long to study for how to get your finra license.