The Series 6 is
a securities license entitling the holder to register as a company's representative and sell certain types of mutual funds, variable annuities, and insurance
. Holders of the Series 6 license are not authorized to sell corporate or municipal securities, direct participation programs, and options.
What is the difference between a Series 6 and Series 7 license?
The Series 6 license allows a registered representative to sell only a specific type of investment products, whereas the Series 7
license allows the rep to sell a wider variety of securities
.
How hard is the Series 6 exam?
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 does a Series 6 license cost?
This exam is administered by the Financial Industry Regulatory Authority (FINRA, previously known as the NASD). In order to take the exam, an individual must be sponsored by a member firm of either FINRA or a self-regulatory organization (SRO). The cost of the exam is
$40.00
.
What is the difference between a Series 6 and 63 license?
Like the Series 6 license, the Series 63 license was developed by the NASAA. However, the goal of this license is to help states approve candidates to operate as securities representatives within their own boundaries. Thus, while the Series 6 license exam covers federal regulations,
the Series 63 covers state issues
.
What is the hardest series exam?
The Series 7 exam
is by far the longest and most difficult of all the securities exams. It lasts for 225 minutes and covers all aspects of stock and bond quotes and trading; put and call options; spreads and straddles; ethics; margin, and other account holder requirements; and other pertinent regulations.
Can anyone take the Series 6 exam?
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).
How long is Series 6 good for?
After you pass the Series 6 exam, you have exactly
two years
to complete the continuing education requirement. You must then complete certain continuing education requirements every three years until you end your registration. Most of these continuing education classes may be completed online.
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.
What is harder Sie or Series 6?
Make sure you understand how to align fund objectives with the investment objectives of customers. Don't expect a math test, but be ready for about five questions that require you to compute a numeric answer. Some candidates think the SIE Exam is
harder than the Series 6
because it covers such a broad range of topics.
What jobs can I get with a Series 6 license?
- FINRA Licensed Client Service Reps (Series 6, 7) Northern Trust Corp. – …
- Financial Advisor. …
- Financial Services Representative. …
- Registered Representative. …
- Customer Service- Finra Series 6 License. …
- Brokerage Associate. …
- Registered Customer Service Representative. …
- Relationship Manager – Government.
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 |
|---|
Is Series 7 harder than Sie?
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.
Do I need Series 6 If I have Series 7?
You might not need the Series 6 if
you have a Series 7 license and you don't plan to sell life insurance. If you have a Series 3 license and decide to stop selling commodity futures in favor of mutual funds, you'll need to earn the Series 6.
What is the Series 63 pass rate?
The Series 63 pass rate was
98.36%
, and the Series 66—one of the most difficult exams—had a pass rate of 88.46%. The firm's overall pass rate across all exams was 99%.
Do you need a Series 6 to sell life insurance?
If you want to sell
variable annuities or mutual funds
, you will need a Series 6 and 63. If you simply want to offer fixed annuities and life insurance products for guaranteed income or asset protection needs, you will only need a life insurance license in the states you intend to do business.
