What does a Series 7 allow you to do?

What does a Series 7 allow you to do?

The Series 7 license or general securities representative (GS) license allows the holder to sell almost all individual securities, including common and preferred stocks, call and put options, bonds, and other fixed income. Excluded from the list: commodities futures, real estate, and life insurance.

Is a registered rep a financial advisor?

Registered representatives may be employed as brokers, financial advisors, or portfolio managers. Registered representatives must pass licensing tests and are regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC).

Who must be registered with FINRA?

You must be registered with FINRA if you’re engaged in the securities business of your firm, which includes salespersons, branch managers, department supervisors, partners, officers and directors. You are required to pass qualification exams to demonstrate competence in your particular securities activities.

How do I find registered investment advisors?

You can find an investment adviser by searching the U.S. Security and Exchange Commission’s Investment Adviser Public Disclosure database. The Financial Industry Regulatory Authority also maintains a searchable database called BrokerCheck.

How long is the Series 7 GOOD FOR?

two years
The Series 7 license is good for the entire period that you work for a FINRA-member firm or self-regulatory organization (SRO). It only expires if you are terminated or leave a firm and do not find employment within two years at another FINRA-member firm or SRO.

Where can I get a series 7 financial advisor license?

The Financial Industry Regulatory Authority (FINRA)administers this test, and most employers in the financial services industry require their employees obtain the Series 7 license. If you want a find a financial advisor who has a Series 7 certification, check out our free financial advisor matching tool.

How to take the series 7 securities representative exam?

Series 7 – General Securities Representative Exam 1 Content Outline. The Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. 2 Eligibility. 3 Permitted Activities. 4 Key Questions. …

What do you need to know about series 7?

The Series 7 exam — the General Securities Representative Qualification Examination (GS) — assesses the competency of an entry-level registered representative to perform their job as a general securities representative.

How can I take the FINRA series 7 exam?

To take the Series 7 exam, you must be sponsored by a FINRA member firm or a self-regulatory organization (SRO). Firms apply for candidates to take the exam by filing a Uniform Application for Security Industry Registration or Transfer (Form U4). There is also an exam fee that is commonly covered by the sponsoring firm.

Series 7 – General Securities Representative Exam 1 Content Outline. The Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. 2 Eligibility. 3 Permitted Activities. 4 Key Questions.

Do you have to take series 7 to get NASAA license?

Much of the material is covered on the Series 7 exam as well, as many of the advisors who sit for this exam are not, and may never become, Series 7 licensed and therefore need exposure to the investment material covered therein. Series 66. This Series 66 is the newest exam offered by NASAA.

Can a ria hold a series 7 credential?

The active Series 7 and 66 combination is generally recognized as an acceptable alternative to the Series 65. Challenges with the Series 7 for RIAs. In some ways, the Series 7 credential is incompatible with the fiduciary relationship required of RIAs. An RIA is bound by law to put the client’s needs first.

The Series 7 exam — the General Securities Representative Qualification Examination (GS) — assesses the competency of an entry-level registered representative to perform their job as a general securities representative.