Series 7 stockbroker license

Series 7

The Series 7 license, known as the General Securities Registered Representative license, allows you to sell a broader range of securities. A holder is allowed to sell corporate stocks and bonds, municipal bonds, mutual funds, variable annuities, options, direct participation program DPP partnerships, and packaged securities i.

The Series 7 is a more comprehensive license than the Series 6, and is generally preferred by banks and broker dealers for new recruits coming directly into the financial services industry.

Series 7 Exam, Series 24, 6, 63, 65, 66 License

Those who get this license are officially listed as registered representatives by FINRA, but are more commonly referred to as stockbrokers. The process for obtaining your Series 7 license is different today than it will be when FINRA implements the new Securities Industry Essentials SIE exam in early This article provides the process now, as well as the likely process in the future with the SIE exam.

To get your Series 7 license, you must be sponsored by a FINRA member firm or a self-regulatory organization SRO. Like the Series 6, sponsoring firms apply for candidates to take the exam by filing a Uniform Application for Security Industry Registration or Transfer Form U4.

There is an exam fee that is typically covered by the sponsoring firm.

The exam consists of questions and is given in two 3-hour segments. The exam covers the five main job functions of a Series 7 representative:.

The SIE exam will cover topics like fundamentals, regulatory agencies and their functions, product knowledge, and acceptable and unacceptable practices. In the future state, a candidate will no longer have to be sponsored by a member firm or self-regulatory organization SRO to take the SIE exam. After passing the SIE exam, candidates will need to be sponsored by a member firm or self-regulatory organization SRO.

Once a candidate has passed the SIE exam and is sponsored, they can then take the top-off exam for the Series 7 license.

Candidates will have a four-year window in which to take and pass any of the representative level top-off exams after passing the SIE exam. The Series 7 top-off exam will likely be shorter than it is currently; FINRA has indicated they are planning to reduce the number of questions asked on the Series 7 exam from to The exam details are still being finalized, but we will continue to update this article as we gain more information.

Ready to start your Series 7 licensing exam prep? Learn more about our live and online study options and to purchase a Series 7 exam prep package on our website.

The common content will be tested in the new Securities Industry Essentials SIE exam. Download this free guide to learn more about how the new securities licensing process will work, the rationale for the change, proposed SIE exam content, and how it could change hiring and recruiting practices. Online Form - KFE Sidebar Lead Gen.

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Financial Planning Career Resources. Home Kaplan Financial Education Career Corner Securities Career Resources How to Get Your Series 7 License.

How to Get Your Series 7 License How to Get Your Series 7 License. Kaplan Financial Education Date: How to Get the Series 7 License Current State To get your Series 7 license, you must be sponsored by a FINRA member firm or a self-regulatory organization SRO. The exam covers the five main job functions of a Series 7 representative: Kaplan Test Prep Kaplan Financial UK.