Thinking about becoming a licensed broker? There are a few steps you need to take in order to effectively establish yourself in the industry. And by a few steps, we mean a series of necessary exams that you must worry about! Here at Finalis, we have got you covered.
There are plenty of securities licensing exams out there. As a result, it can be confusing to know which one you should take given your line of business. Here’s a rundown of the most common FINRA qualification exams for people looking to establish and grow an M&A brokerage, investment bank, or placement agency.
SECURITIES INDUSTRY ESSENTIALS (SIE) EXAM: The Securities Industry Essentials exam tests your knowledge of basic securities industry information that includes fundamental concepts such as the structure of the securities industry markets and regulatory agencies and their functions.
SERIES 7 EXAM: The Series 7 exam is for General Securities Representatives, which is essentially an “entry-level exam” that often serves as a prerequisite for other FINRA exams. Once you pass the Series 7 exam, you’ll be able to sell different types of financial products.
SERIES 63 EXAM: The Series 63 exam, also known as the Uniform Securities State Law Examination is a North American Securities Administrators Association (NASAA) exam administered by FINRA. The examination is intended to provide a basis for state securities administrators to determine an applicant’s knowledge and understanding of state law and regulations. This securities license entitles the holder to register in any state.
SERIES 79 EXAM: The Series 79 Exam, or Investment Banking Representative Exam, measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of an investment banking representative, including advising on or facilitating debt or equity securities offerings through a private placement or a public offering and mergers and acquisitions.
Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 79 exam to obtain the Investment Banking Representative registration.
Series 82 EXAM: The Series 82 exam, or Private Securities Offerings Representative Exam, measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a private securities offerings representative, including solicitation and sale of private placement securities products as part of a primary offering.
Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 82 exam to obtain the Private Securities Offerings Representative registration.
Feeling ready to tackle your next exam?
Feel free to contact us to schedule an appointment for advice on a FINRA examination of your choosing.
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