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What is the Series 63?

In order to solicit orders for any type of security, a broker or representative must pass the Series 63 examination, in addition to the Series 6 or Series 7.

These tests are administered by FINRA, the financial services industry self-regulatory organization (SRO), and serve as licensing requirements for financial services representatives and management in the field.

The 6 and 7 deal with product and industry knowledge and theory, while the 63 covers state-specific laws and rules, along with an understanding of ethical and fiduciary responsibility. The Series 63 takes only 75 minutes, with 65 multiple choice questions.

An individual must be employed by a FINRA member firm to take the examination.

What is a Broker-Dealer?
What is the Series 7?

Keywords: regulations, self-regulatory organization (SRO), securities licensing, Series 7,