Company Sponsorship

• Stock trader training begins with working for a Financial Industry Regulation Authority (FINRA) company. Each brokerage has different training programs, but most require you to attend classes, seminars and prepare for the Series 7 Exam or General Securities Registered Representative Exam while working. You are eligible to sit for the exam after working for a FINRA-registered brokerage four months. The company will sponsor you to sit for the Series 7. You cannot sit for this exam without a sponsor.
  
  

Series 7 Exam

• All securities broker/dealers must pass the Series 7 Exam. This exam has a six-hour time limit and contains 250 questions. The exam covers topics such as client interaction, making appropriate investment recommendations, the proper handling of account transactions and account management. Other topics covered in the exam include equities, debt instruments, packaged securities, derivatives, options, retirement plans and estate taxes. Those sitting for the exam must also know how various securities markets are organized and how they function.
  
  

Series 63 Exam

• The Series 63 is the Uniform Securities Agent State Law Exam. The exam covers individual states' securities laws. The Series 63 has 65 multiple choice questions that candidates must complete in one hour and 15 minutes. The exam covers securities laws, rules and regulations as they pertain to the individual state in which the candidate plans to practice. Candidates must receive a score of 72 percent or higher to pass the Series 63.
  
  

Series 65 Exam

• The Series 65 is the Uniform Investment Advisor Law Exam. All stock traders giving clients investment advice must pass the Series 65 with a 72 percent or higher score. The exam has a three-hour time limit with 140 questions about basic economic concepts, retirement planning, suitable investment strategies, securities, bonds, laws, regulations and ethical business practices. If a brokerage requires both the Series 63 and 65, employees can take the Series 66 Exam, a combination exam of the Series 63 and 65.
  
  

Series 66 Exam

• The Series 66 is the Uniform Combined State Law Exam. It is a combination of the Series 63 and 65 exams. This exam has a 2 1/2-hour time limit with 140 multiple-choice questions covering economic concepts, different types of investment instruments, laws, regulations, retirement planning, ethical business practices, portfolio management and suitable investment strategies. The passing score is 75 percent or higher.