What does Series 63 allow you to do?
What does Series 63 allow you to do?
The Series 63 license, also known as the Uniform Securities Agent license, enables you to sell securities in a particular state. The Series 63 license is good for the entire period that you work for a FINRA-member firm or self-regulatory organization (SRO).
What is the pass rate for the Series 63?
98.36%
The Series 63 pass rate was 98.36%, and the Series 66—one of the most difficult exams—had a pass rate of 88.46%. The firm’s overall pass rate across all exams was 99%.
What does the Series 63 exam cover?
The Series 63 exam covers the principles of state securities regulations and rules prohibiting dishonest or unethical practices. Some 45% of the questions pertain to regulations, 10% to administrative provisions, 20% to customer communication, and 25% to ethical practices and business obligations.
Who needs the Series 63?
Who needs a Series 63 license? Securities industry professionals seeking to transact securities business (make an offer or sell securities) with residents in most states as a broker-dealer agent are required to pass the Uniform Securities Agent State Law Exam, more commonly known as the Series 63 exam.
How hard is it to get Series 7 and 63?
Though it may seem a bit daunting, especially if you have no industry experience, the Series 7 is, in fact, a medium difficulty exam. On average, the pass rate for the Series 7 exam is around 65%. Comparatively, about 86% of candidates pass the Series 63 on their first attempt.
Is the 63 exam hard?
While some users emphasized that the Series 63 exam was not difficult, many stressed the need to study and work through a few practice exams. While there is a no official pass / fail rate released, a previous study suggested that around 14% of candidates fail the exam on their first attempt.
What can I do with a series 63 license?
What jobs can I get with a Series 63 license? If you have earned the Series 6 license and the Series 63 license, you can be a financial adviser or insurance agent who also sells mutual funds and works at a brokerage, investment firm, bank, or insurance company.
What is the series 63 state law exam?
The Series 63, Uniform Securities Agent State Law Examination, is the state law test for broker-dealer representatives. It is a North American Securities Administrators Association (NASAA) exam administered by FINRA.
Do you need a series 6 license to sell life insurance?
Since the majority of life insurance products are grouped with securities, the Series 6 license is required for all insurance sales professionals throughout the United States who wish to sell those types of policies. FINRA is the primary licensing body for securities sales professionals, but it is not the only administrative body in the industry.
How long is the series 6 securities license?
The Series 6 test includes a 100-question, multiple choice exam. You are allowed 135 minutes for completion. Series 63: Most states require this license for anyone who wants to sell securities within the state.
Do you have to pass series 6 exam to get Series 63 license?
In order to use your Series 6 license in your state, you must pass the state’s version of the Series 63 license exam. If you move from one state to another, you must take your new state’s Series 63 exam to begin working in the securities or insurance industries in that state. What Is the Difference Between a Series 6 and a Series 7 License?
What can I do with a series 63 securities agent license?
The Series 63, Uniform Securities Agent, is a license for broker-dealer representatives. The Series 65 license, Uniform Investment Adviser, is for investment adviser representatives, which is anyone who works for an investment advisory company and provides investment-related advice for a fee.
Since the majority of life insurance products are grouped with securities, the Series 6 license is required for all insurance sales professionals throughout the United States who wish to sell those types of policies. FINRA is the primary licensing body for securities sales professionals, but it is not the only administrative body in the industry.
Do you need a sponsorship for Series 63?
Although you can earn the Series 63 license without sponsorship or any prerequisites, we suggest you approach the process in the following order: Take and pass the SIE exam. Secure a sponsorship from a FINRA-member firm, and register for the Series 7 exam, Series 6 exam, or both.