Securities Licensing Test Flashcards
6 cards from real Investment practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Securities Licensing Test flashcards as text
Which FINRA license is required to sell securities such as stocks and bonds to retail clients?
Answer: Series 7
The Series 7 (General Securities Representative) license authorizes holders to sell a broad range of securities including stocks and bonds.
The Series 63 license is required by most US states and covers which area?
Answer: State securities law (Blue Sky Laws)
The Series 63 (Uniform Securities Agent State Law Examination) tests knowledge of state securities regulations known as Blue Sky Laws.
A registered investment adviser representative must hold which license to charge fees for investment advice?
Answer: Series 65
The Series 65 (Uniform Investment Adviser Law Examination) is required to act as an investment adviser representative and charge fees for advice.
Which self-regulatory organization administers most US securities licensing exams?
Answer: FINRA
FINRA (Financial Industry Regulatory Authority) administers the majority of securities licensing exams in the United States.
What is the minimum passing score for most FINRA licensing exams?
Answer: 70%
Most FINRA licensing exams require a minimum score of 72%, though the exact threshold can vary by exam.
How long is the cooling-off period before retaking a FINRA exam after a third failed attempt?
Answer: 180 days
After a third failed attempt at a FINRA exam, candidates must wait 180 days before they can retake the exam.