What Is a Series 6 & 7 License?


Securities brokers must be licensed by the Financial Industry Regulatory Authority to sell and discuss securities. The Series 6 and 7 licenses are two such licenses granted by the regulatory authority. While they both allow brokers to sell securities, the Series 7 license allows brokers to sell a wider range of products. To get either license you must be affiliated with a Financial Industry Regulatory Authority member firm and pass an exam.

Series 6 -- The Limited License

  • The Series 6 exam -- known formally as the "Investment Company and Variable Contracts Products Representative Qualifications Examination" -- consists of 100 multiple choice questions. The exam lasts 2 hours and 15 minutes. The Series 6 exam only covers two types of securities: mutual funds and variable contract products.

Expanding to Series 7

  • The Series 7 exam is a longer exam, covering all securities including stocks, bonds, mutual funds and private placements. It is also referred to as the "General Securities Representative Qualification Examination." Because the exam covers more material, it is significantly longer. It consists of two sections, each with 125 multiple choice questions and each section lasts three hours.

Significance and Fees

  • With a Series 6 license you are permitted to sell mutual funds and variable contract products to clients. As of 2014, the fee to write the Series 6 exam is $95. With a Series 7 license you are permitted to sell all securities to clients. The fee for the Series 7 exam is $290 as of 2014. You are permitted to rewrite either exam if you fail.

Related Searches


  • Photo Credit pablocalvog/iStock/Getty Images
Promoted By Zergnet


You May Also Like

  • What Is Series 7?

    The Series 7 is perhaps the most common individual license in the investment industry. The formal name for this license is the...

  • What Is a Series 66 License?

    The Series 66 License is a license granted to those who pass a national-level examination conducted by the North American Securities Administrators...

  • What Are the Series 6 & 63 Licenses?

    The Series 6 and Series 63 licenses are documents granting the holder permission to engage in certain securities transactions such as selling...

  • What Is a Series 7 or Series 63 License?

    The Financial Industry Regulatory Authority (FINRA) requires financial professionals who sell securities products to obtain a Series 7 license. Some states also...

  • How to Obtain a Series 7 License

    The Financial Industry Regulatory Authority (FINRA) administers the Series 7 license. If you work in the financial services or banking industries you...

  • How to Get a Series 7 and 66 License

    Just about anyone can sell cars, furniture or appliances, but if you want to sell stocks and bonds you'll need a special...

  • What Is a Series 7 Brokers License?

    A Series 7 broker is a stock broker. The financial services industry requires a prospective broker be sponsored by a stock brokerage...

  • FINRA Requirements to Maintain a Series 7 License

    The Financial Industry Regulatory Authority, or FINRA, requirements for maintaining a Series 7 license ensure that individuals stay abreast of changes in...

  • FINRA License Requirements

    The Financial Industry Regulatory Authority (FINRA) polices the securities industry and intends to prevent brokers from taking advantage of investors. The government...

Related Searches

Check It Out

3 Day-to-Night Outfits for the Work Week

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!