About Stockbroker Training Courses
While training courses are not required to prepare for the exams that must be taken to become a stockbroker (registered representative), they are useful in gaining knowledge that will be found in the examination.
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FINRA
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FINRA (Financial Industry Regulatory Authority) oversees brokerage firms and their representatives and issues several license types which govern the activities a representative can conduct. A prospective representative must be employed by a member firm to be sponsored to sit for the exam.
Testing Preparation
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Coursework for testing for securities licenses is available in classroom settings, online or as on-the-job training, with the latter method typically following a curriculum designed and provided by the employer.
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Cost
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The cost of test-preparation programs ranges from less than $250 for online self-paced study materials to more than $500 for a lecture environment, which is often completed in seven to 14 days.
Types
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The Series 6 exam (Investment Company Products/Variable Contracts Representative), the Series 7 (General Securities Representative) and in most states, the Series 63 (Uniform Securities Agent State Law Exam) are required for associated members of investment firms.
Testing
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A score of 70 percent or greater is required to pass each exam. FINRA training courses are designed to provide the knowledge and understanding to successfully complete the exams.
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