How long series 7 exam

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Once confirmed, we'll send you your first lesson. Common jobs utilizing the Series 6 license include financial advisors, retirement plan specialists, investment advisors, and private bankers. Some candidates take the SIE and one of the other two tests on the same day. It is a multiple-choice exam, with items, and lasting 3 hours and 45 minutes. The passing grade for the Series 7 exam is 72 or higher. As with the Series 6, candidates must be affiliated with and have sponsorship from a FINRA member firm before registering for the Series 7 exam.

It includes four functions:. The Series 7 license allows financial advisors to engage in buying and selling virtually all securities-related investment products.

In addition to everything covered under the Series 6 exam, products include common and preferred stock , bonds, exchange-traded funds ETFs , real estate investment trusts REITs , and options. It is the examination required for stockbrokers and is a prerequisite for many other securities licenses. The only major types of securities or investments that Series 7 licensees are not authorized to sell are commodities futures , real estate , and life insurance.

Passing them is required to obtain a license to buy and sell certain types of investments for clients, as brokers, financial planners, investment managers, and other financial professionals commonly do.

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.

Just about all stockbrokers and money managers have the Series 7 license, as well as the Series 6. In contrast, the Series 6 is more limited. It mainly offers a license to deal in retail-investor-oriented products, like mutual funds and insurance annuities. It notably excludes individual equities, bonds, and ETFs—securities actively traded on financial exchanges, in other words.

Financial planners who sell products from investment management companies and insurance companies to individuals could probably get by with just passing the Series 6. Financial Industry Regulatory Authority. Finra Exams.

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