For more information on registration requirements, refer to FINRA Rule 1210. You are allowed 6 hours, broken down into 2 parts (3 hours each), for completion. The Series 7 exam is one of two exams that registered representatives of broker-dealers must pass to sell and trade most securities as a financial services professional.The exam mainly covers information about investments, their suitability for different investors, record-keeping and asset transfers. There is also an exam fee that is commonly covered by the sponsoring firm. To take the Series 7 exam, you must be sponsored by a FINRA member firm or a self-regulatory organization (SRO). Candidates must be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization (SRO) member firm to be eligible to take FINRA representative-level qualification exams. The SIEexam is a corequisite to the Series 7 exam. One of the requirements provided by FINRA for Series 7 exam candidates is that they must be sponsored by a member firm. The sponsoring firm must file Form U4 – i.e., Uniform Application for Security Industry Registration – for a candidate to be enrolled for the Series 7 exam. Before you can register for the Series 7, you must pass the SIE Exam. The sponsoring firm is also required to cover the Series 7 exam fee. Both the SIE and the Series 7 exam are corequisites, … FINRA’s detailed eligibility requirements, which vary depending on your job description, can be found in the FINRA Manual, Rule 1220(b)(2). Candidates must pass both the Series 7 exam and the SIE exam to obtain the General Securities registration. While not required to apply for a job in the financial services industry, it will certainly set you apart from other applicants. The Series 7 test includes a multiple choice exam. Firms apply for candidates to take the exam by filing a Uniform Application for Security Industry Registration or Transfer (Form U4). In certain circumstances, associates of non-FINRA firms, or individuals who aren’t affiliated … The Series 7 exam, like most others related to the financial industry, is administered by the Financial Industry Regulatory Authority, or FINRA. For more information on the registration process, see Registe… The FINRA ® Series revised 7, General Securities Representative Qualification Exam, is required of individuals soliciting the purchase or sale of corporate, municipal and U.S. government securities, options, direct participation programs, investment company products, and variable contracts. To sell securities anywhere in the US, you must also pass the Series 6 or Series 7. Individuals who want to enter the securities industry to sell any type of securities must take the Series 7 examination—formally known as the General Securities Representative Examination. Before you can take the Series 7 exam, you must find an FINRA member firm to take you on as a trainee and sponsor your application. Series 63: Most states require this license for anyone who wants to sell securities within the state. You do not need to be employed as a financial advisor, insurance agent, or any other position that works with securities to take the SIE. Individuals who pass the Series 7 examination are eligible to register to trade all securities products, including corporate securities, municipal fund securities, options, direct participation programs, …
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