What certification series does one need to be a bond broker?

By Chizoba Morah AAA
A:

One major requirement before one can become a bond broker is to pass the General Securities Representative Exam, commonly called the Series 7 exam. Series 7 is an exam that allows brokers to engage in the purchase and sale of securities. Before the exam can be taken, the candidate in question has to be sponsored by a broker/dealer firm. This requirement makes it necessary for anyone who desires to be a broker to first seek internship or employment with a brokerage firm. The General Securities Representative Exam, which is offered by the Financial Industry Regulatory Authority (FINRA), is a 260-question exam that lasts for 6 hours. The exam is broken into two parts and can be taken at a variety of testing centers. The exam has a passing mark of 70% and above.

The next step after taking the exam is to find out if your state requires an additional exam. Most states require brokers to take the Uniform Securities Agent State Law Examination, commonly known as Series 63. As the name suggests, the exam deals with the laws and regulations of the state that govern financial securities.

To learn more about both Series 7 and Series 63 exams, read Series 7 – Getting Started and Succeeding at the Series 63 Exam.

This question was answered by Chizoba Morah.

RELATED FAQS

  1. What country spends the most on education?

    Learn about the amounts that various developed nations spend on educating their young people compared to education spending ...
  2. Who benefits the most from prepaid expenses?

    Learn who benefits most when expenses are prepaid. Individuals and businesses often make payments, such as rent or insurance, ...
  3. What's the difference between a financial advisor and a financial planner?

    Seeking professional advice from a financial advisor may involve asking for financial help from a certified financial planner, ...
  4. Who is eligible to take out federal student loans?

    Fill out the Free Application for Federal Student Aid every year to determine eligibility for federal aid, including student ...
RELATED TERMS
  1. Associate In Reinsurance (ARe)

    A designation earned by insurance professionals looking for reinsurance ...
  2. Associate In Surplus Lines Insurance (ASLI)

    A designation earned by insurance professionals involved with ...
  3. Financial Conduct Authority (UK) - FCA

    The regulator of the financial services industry in the United ...
  4. Corporate Financing Committee

    A regulatory group that reviews documentation that is submitted ...
  5. Credit Business Fellow - CBF

    A designation for achievers who have proven knowledge in intermediate ...
  6. Credit Business Associate - CBA

    A designation awarded to those who show mastery in financial ...

You May Also Like

Related Articles
  1. Professionals

    Should You Add A Securities License ...

Trading Center