Candidates must be sponsored by a member of FINRA or a self-regulatory organization (SRO) to take the exam. There is no prerequisite for the exam, but the Securities Industry Essentials (SIE) exam is a corequisite for Series 6. Before Oct. 2018, the exam was 100 questions and didn’t have the SIE corequisite.
How long does it take to get a FINRA Series 6 license?
1 hour and 30 minutes
FINRA Representative-level Exams
| Duration | Cost | |
|---|---|---|
| Series 6 – Investment Company and Variable Contracts Products Representative Exam | 1 hour and 30 minutes | $40 |
| Series 7 – General Securities Representative Exam | 3 hours and 45 minutes | $245 |
| Series 22 – Direct Participation Programs Limited Representative Exam | 1 hour and 30 minutes | $40 |
How much does it cost to get Series 6 license?
First, they have to pay to take the Series 6 exam. The exam costs $40. Before they become registered with the Financial Industry Regulatory Authority (FINRA), they’ll also have to pass the Securities Industry Essentials exam, which costs $60.
How hard is it to get Series 6 license?
The Financial Industry Regulatory Authority (FINRA) recently reported a 59% pass rate for first-time exam takers. This demonstrates the difficulty of the exam and supports the need for adequate preparation. If you do not pass the Series 6 exam, you will have to wait 30 days before you are eligible to take it again.
Can I take Series 6 without a sponsor?
You must be sponsored by a member of FINRA (formerly NASD) or a Self-Regulatory Organization. You will not be able to sit for the Series 6 exam without a sponsor. The Series 6 test includes a 50-question, multiple choice exam.
What can I do with my Series 6 license?
With a Series 6 license, you are able to sell mutual funds, variable annuities, variable life insurance, unit investment trusts (UITs), and municipal fund securities. The Series 6 is often seen as the ideal companion license for those in the insurance industry.
Can I take the Series 6 without a sponsor?
Should I take Series 6 or 63 first?
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.
Is Series 6 or 7 harder?
Of the two, the Series 7 is the tougher but more comprehensive exam. It allows you to deal with almost any type of security, from stocks to bonds to investment trusts and funds, that a professional or retail investor would want.
Who can sponsor a Series 6 exam?
FINRA member
To take the Series 6 exam, you must be sponsored by a FINRA member firm or a self-regulatory organization (SRO). Firms apply for candidates to take the exam by filing a Uniform Application for Security Industry Registration or Transfer (Form U4).
Can you take Series 7 without a sponsor?
FINRA and Broker-Dealer Exams SIE and Series 63 exams do not require any sponsoring program. Series 7, 79, and 82 require a FINRA exam sponsorship before you can take the test.
What jobs require a series 6?
The Series 6 is a license sought buy professionals in the financial services industry. Common jobs utilizing the Series 6 license include financial advisors, retirement plan specialists, investment advisors and private bankers.
How long is the series 6 license good for?
If you end your job, your employer will automatically terminate your registration and Series 6 license. As long as you re-register with a new company within two years, your license will remain valid. If you decide not to register with a new company within those two years, FINRA may ask you to re-take the Series 6 exam.
How to pass series 6?
To take the Series 6 exam , you must be sponsored by a FINRA member firm. The firm files a Form U4 application on your behalf through FINRA’s Central Registration Depository (CRD). Candidates must pass the co-requisite Securities Industry Essentials (SIE) exam in addition to the Series 6 to obtain the Series 6 license.
How do I get sponsored for Series 6 registration?
Before registering to take the Series 6 Exam, one must be sponsored by a FINRA member firm. The firm applies for candidates to take the examination by filing a Uniform Application for Securities Industry Registration or Transfer (Form U4). The firm will also pay the examination fee through FINRA’s Central Registration Depository (CRD).
