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.
Is Series 6 or 7 harder?
The Series 6 and the Series
7
are two of the most popular of what FINRA calls its qualification exams. … Of the two, the Series 7 is the tougher but more comprehensive exam.
What products can you sell with Series 6?
With Series 6, an individual can purchase or sell certain types of mutual funds,
variable life insurance, municipal fund securities, variable annuities, and unit investment trusts
.
Can you sell closed end funds with a Series 6?
Simply put, a person who wishes to become a registered representative (RR) and sell mutual funds, unit investment trusts (UITs), variable annuities, or variable life insurance must pass the Series 6 exam.
A Series 6 RR cannot sell closed-end funds except at their IPO (a prospectus offering)
.
What can I sell with a Series 7?
The Series 7 license or general securities representative (GS) license allows the holder to sell
almost all individual securities, including common and preferred stocks, call and put options, bonds, and other fixed income
. Excluded from the list: commodities futures, real estate, and life insurance.
Is the Series 6 exam hard?
The Series 6
is a tough exam
, especially for those who find it is their first introduction to the world of securities. In this article, we’ll give you six additional easy tips on how to approach the information and proven techniques for studying for and taking the test.
How much money can I make with a Series 6 license?
|
Job Title Range Average
|
Retirement Plan Specialist Range:$39k – $91k Average:
$53,875
|
Bank Manager Range:$51k – $80k Average:$62,937
|
Client Relationship Manager Range:$45k – $105k Average:$71,469
|
Relationship Banker Range:$31k – $49k Average:$40,260
|
Can I take the 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.
How much does a Series 6 license cost?
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.
Is getting your Series 7 worth it?
Typically, the Series 7
is the better choice
if you’re interested in selling individual securities either now or in the future. Plus, once the Series 7 is completed, no additional exam is required.
What happens if you fail the Series 6?
Candidates who do not pass the top-off exam must wait 30 days before taking it again. However, if you fail it
three times in succession
, you must wait 180 days. Your firm will also have to sponsor you again for each retake, and you will also have to pay the full fee each time.
Can I sell mutual funds with a Series 65?
Having a Series 65 license allows an adviser to offer fee-based investment advice, but, by itself,
does not permit the sale of securities
. The exam was developed by the North American Securities Administrators Association (NASAA) and is administered by the Financial Industry Regulatory Authority (FINRA).
How do I pass the Series 6 exam?
-
Skip tough questions and come back to them.
-
The test generally begins and ends with easier questions; therefore, the more difficult questions are found in the middle. …
-
Don’t second guess yourself.
-
Read each question completely, and then carefully consider each of the answers.
-
Don’t rush.
How long is Series 7 GOOD FOR?
The Series 7 license is good for
the entire period that you work for a FINRA-member firm or self-regulatory organization
(SRO). It only expires if you are terminated or leave a firm and do not find employment within two years at another FINRA-member firm or SRO.
Can I get my Series 7 without a sponsor?
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. … You may sit for the exams in place of series 7 on general securities.
Is Series 7 harder than Sie?
The Series 7 Goes Deeper
The Series 7 exam
is essentially a much more difficult SIE exam
. It has 125 questions (plus 10 extra that don’t count toward your score) vs 75 for the SIE exam. A key difference in the SIE vs Series 7 is that the content goes much deeper for the Series 7.
