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What are Series 7 Exam Requirements?
The Financial Industry National Regulatory Authority (FINRA (formerly NASD))
Series 7 exam requirements
are similar to the usual requirements of generally the licensing test that one must pass in order to become a stockbroker. In order to take the exam, one must first obtain "sponsorship"/employment from a FINRA or exchange member firm. In addition, one must submit a set of fingerprints and undergo a basic background check. Typically to register with a firm and consequently the exam you have to complete a U-4 application. On this application you must disclose such things as prior work history, criminal background (if any), etc.
Series 6 Test Information
Series 6 Test Overview
Exam administration:
The Series 6 test
is multiple choice and is given on computer
Number of questions: 100 questions
Passing score required: 70%
Pre-requisites: You have to be sponsored by a broker/dealer to schedule to sit for the exam through FINRA (Previously the National Association of Securities Dealers (NASD))
Exam Fee: $75. Exam location: See FINRA site.
Exam dates: The Series 6 exam is administered Monday through Friday
Common Series 6 Exam Candidate Questions:
Who Takes the Series 6 Exam?
The Series 6 exam is taken by an individual who wants the ability to sell Mutual Funds in the primary market and variable insurance products (including variable annuities). The Series 6 exam is generally taken by licensed insurance agents whose company is requiring they obtain their Series 6 license to market variable insurance products.
Important Series 7 Exam Information: How to Pass the Series 7 Exam?
The Financial Industry National Regulatory Authority (FINRA (formerly NASD)) Series 7 exam is generally the licensing test that one must pass in order to become a stockbroker. In order
to pass the Series 7 exam
, one must first obtain "sponsorship"/employment from a FINRA or exchange member firm. In addition, one must submit a set of fingerprints and undergo a basic background check. Typically to register with a firm and consequently the exam you have to complete a U-4 application. On this application you must disclose such things as prior work history, criminal background (if any), etc.
52 Hour Insurance Course in California.
There is also a beginning and continuing professional education requirement for insurance licenses. For example, California requires
52 hour insurance course
, i.e. 52 hours of prelicense education before qualifying to take the life insurance exam. During the first four years, licensees must take at least 25 CPE hours per year. Thereafter, the CPE requirement is 15 hours annually in a course approved in advance by the California insurance department.
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