If nothing else, the coronavirus pandemic demonstrated the critical importance of the finance industry. Savings, investments, and professional financial advice can make a tremendous difference in the event of hardships, like reduced schedules at work, layoffs, or unemployment.
Join the ranks of financial professionals and do what you can to help — now and during a typical year. One of the best paths to take is by taking the Series 63 Exam. What is it, and how does it lay the foundation for a strong financial career?
The Series 63 Exam: What Is It?
The exam is a series of questions put together by the North American Securities Administrators Association (NASAA). It is called the Series 63 exam or the Uniform Securities State Law Examination and entitles would-be professionals, like a financial adviser or a broker dealer, “to solicit orders for any type of security in a particular state,” Investopedia reveals.
What To Expect When Taking the Exam
Learn more about the process from enrolling to take the exam, the exam format, and how to utilize the exam to become fully licensed.
- To enroll in the exam, visit the Financial Industry Regulatory Authority website at finra.org, and click the link to book the appropriate exam. You can choose to take the exam remotely (with the appropriate accommodations) or at a local testing center.
- Currently, the Series 63 Exam consists of 60 questions. Those who enroll to complete the exam will have an hour and 15 minutes to take the exam. The format or questions on the exam may change from time to time to reflect the new tax code. To pass the 60-question exam, you must answer at least 43 questions correctly.
- To become fully licensed, candidates must earn a sponsorship through the FINRA, pass the Series 6 or Series 7 exam, and then pass the Series 63 Exam.
Getting a Job
Passing the exam and becoming fully licensed opens up a world of possibilities. A license enables candidates to work as a broker dealer, a financial advisor, or an insurance agent. Demand for these workers remains high. There are as many as 17,000 investment agencies all across the U.S., and 3,500 people working as broker dealers.
Financial savvy and financial management are of utmost importance. Take the Series 63 Exam to break into and fully explore all options in the finance industry.