How To Earn A Securities License

How To Earn A Securities License

• Determine your desired license type. In other words, do I just want to sell mutual funds and annuities (covered by a Series 6 license) or do I want to sell stocks and bonds as well (covered by the Series 7 license)?
• Select a pre-licensing course format - seminar, webinar, online, or self-study - that best fits your needs. While a self-study course is cheaper and can be taken in your spare time from the comfort of your home or office, an instructor led seminar gives you the ability to listen to - and ask questions of - an experienced instructor
• Study the materials prior to taking your securities pre-licensing course exam
• Since practice exams are included with our securities pre-licensing courses, take as many practice tests as you can
• Study, then sit, for your exam

Determine Which Securities License You'll Need

• Series 6: If you want to sell mutual funds, variable annuities, and other investment packages, you'll need this license. Administered by FINRA and known as the limited-investment securities license, the Series 6 license enables you to sell what are known as packaged investment products. If you're an insurance agent who wants to sell variable products, you'll also need this license.
• Series 7: If you'd like to be a stockbroker, this is the license for you. Administered by FINRA and known as the general securities representative license, the Series 7 license authorizes you to sell virtually any type of individual security, such as stocks, bonds, options, and other individual fixed income investments - plus all forms of packaged products. Basically, this license enables you to sell everything except commodities futures, real estate, and life insurance.
• Series 3: If you want to sell commodity futures contracts, you need the Series 3 license, also administered by FINRA.
• Series 63: If you have a Series 6 license or a Series 7 license, and you want to do business as a stockbroker or sell mutual funds in any state, you need this license. Administered by NASAA, Series 63 is known as the Uniform Securities Agent license.
• Series 65: If you want to be a financial planner or advisor who works for an hourly fee rather than a commission, or you want to be a stockbroker or other financial representative who deals with managed-money accounts, you'll need this license. It's also administered by NASAA.
• Series 66: If you have a Series 7 license, you have already studied and learned a good portion of the Series 66 exam, so instead of earning Series 63 and Series 65 separately, you can choose to earn this license instead.
• Series 79: If you want to offer advice or facilitate debt or equity offerings (public or private), mergers or acquisitions, tender offers, final restructuring, asset sales, and divestitures or corporate reorganizations, you'll need this license.
• Series 99: If you plan to be a senior manager or a supervisor in operations or will have the authority to materially commit capital in various back office functions, you need this license.

Select A Securities Pre-Licensing Course Format That Best Fits Your Learning Style

• Seminar/Virtual
  The instructor-led seminar format generally means that you attend a classroom training at a specific date, time, and location either in-person or virutally.
  
  
  • Plusses:
    • Provides a structured learning environment
    • Requires attendance at a specific date and time
    • An instructor led seminar gives you the ability to listen to - and ask questions of - an experienced instructor
    • You get to hear - and learn from - the questions of other attendees
  • Minuses:
    • You move at the class's pace
    • Less flexibility in schedule - you must attend at a specific date and time
    • Costs slightly more than other training formats
• Live Webinar / OnDemand
  The Webinar / OnDemand format generally means that you attend the training at a specific date and time, but do so from your home or office computer and not at a specific location like a hotel.
  
  
  • Plusses:
    • No travel costs to attend class
    • Classes are recorded so you can re-watch at your convenience
    • You still get live interaction with your instructor
    • You can log into your class from any computer
  • Minuses:
    • Requires use of webcam or speakers/microphone to participate in live interaction
    • You must attend at a specific date and time
    • Costs are the same as a live classroom course
• Online
  The Online format generally means that you do your self-study training at your computer and at your own pace.
  
  
  • Plusses:
    • Very affordable training format
    • You can take the training anytime that's convenient for your schedule
    • You have access for five months to complete your training
    • Can be accessed from anywhere at any time
  • Minuses:
    • You lose the benefit of learning from an experience instructor
    • Requires you to set and stick to your own study schedule
• Self-Study
  The Seminar format generally means that you attend a classroom training at a specific date, time, and location.
  
  
  • Plusses:
    • Least expensive training format
    • Good for self-starters
    • Doesn't require internet connection to study
  • Minuses:
    • You lose the benefit of learning from a live experienced instructor
    • Not the best format if you typically need nudging to accomplish goals

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