Series 7 and 63 Exam Details

Series 7 Exam Details

The FINRA® Series revised 7, General Securities Representative Qualification Exam, is required of individuals soliciting the purchase or sale of corporate, municipal and U.S. government securities, options, direct participation programs, investment company products, and variable contracts.

 

Exam Restructuring

On October 1, 2018, FINRA restructured the Series 7 exam. New candidates are required to pass the Securities Industry Essential (SIE) exam along with a Series 7 exam to obtain the General Securities Representative Qualification registration. Kaplan has study materials available for the SIE exam as well as the Series 7 exam

 

SIE Exam

125 multiple-choice questions

3 hours, 45 minutes

Outline of Topics Covered

  • Seeks business for the broker-dealer from customers and potential customers
  • Opens accounts after obtaining and evaluating customers’ financial profile and investment objectives
  • Provides customers with information about investments, makes suitable recommendations, transfers assets, and maintains appropriate records
  • Obtains and verifies customers’ purchase and sales instructions; processes, completes, and confirms transactions

 

Additional Details

For more exam details, including fees and passing score, please visit FINRA.

 

Series 63 Exam Details

The NASAA Series 63, Uniform Securities State Law Exam is required of individuals soliciting the purchase or sale of securities within a state. The exam may be required in addition to other exams.

 

None

60 multiple-choice questions

1 hour, 15 minutes

Outline of Topics Covered

  • State Securities Acts and related rules and regulations
  • Ethical practices and fiduciary obligations

 

Additional Details

For more exam details, including fees and passing score, please visit FINRA.

 

Best Practices Guide

Kaplan has prepared a Best Practices Guide to help you pass the first time! This guide includes recommended study hours, how to use your study materials effectively, and test-taking tips. Access the guide and other free materials here.

 

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We outlined the steps you need to take to earn the Series 7 and 63 licenses. Get started by learning more about how to get your Series 7 qualification.

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