A:

If you fail your first attempt at the Series 6 exam, your sponsor can submit an amendment to reopen a window in which you can write the exam again. This window will not open until 30 days after your last exam attempt. At this point, your window will be open for 90 days.

There is no requirement for a sponsor firm to terminate your employment if you fail the exam. However, every time you rewrite the exam, you must pay the required $75 qualification examination fee. Your employer may require you to reimburse the fees paid to write the exam.

After three failed attempts, you must wait six months or 180 days before you can rewrite the exam for a fourth time. The six-month waiting period is appropriate since by that point you would have paid a total of approximately $225 in qualification exam fees, and the cumulative expense by the fourth time would be $300. The six-month requirement is intended to give an individual time to ensure that he or she is prepared for the fourth exam attempt. This process can continue indefinitely, because there is no limit as to the number of times you can attempt the Series 6 exam.

RELATED FAQS
  1. How many people fail the series 63 exam every year?

    How many stock brokers failed the Series 63 exam before they passed successfully? Here is what you need to know before taking ... Read Answer >>
  2. Do I have to successfully complete the Series 7 exam before I can register for the ...

    There are no prerequisites to register for the Series 63 exam. However, once you have registered for the exam, you must schedule ... Read Answer >>
  3. What certification series does one need to be a bond broker?

    One major requirement before one can become a bond broker is to pass the General Securities Representative Exam, commonly ... Read Answer >>
  4. Do I need to be sponsored or employed by a member firm in order to write the Series ...

    You do not need to be sponsored by a member firm in order to write the Series 66 exam. However, it is important to remember ... Read Answer >>
  5. What major is required to take the Series 7 examination?

    There are no prerequisite educational requirements for the Series 7 exam. However, keep in mind that you must be sponsored ... Read Answer >>
  6. If I failed the Series 66, does the waiting period apply if I want to take the Series ...

    Learn more about the NASAA exam waiting period requirements and the policies regarding retakes, the creation of test questions ... Read Answer >>
Related Articles
  1. Professionals

    Exam Details

    Basic information on the Series 6 exam
  2. Chapter 1: Broker Office Procedures

    The series 24 exam is one of the most challenging tests administered by FINRA. It is recommended that candidates spend at least 70 hours preparing for the exam . The series 24 material has been ...
  3. Professionals

    Introduction

    Series 62 - Section 1 - Equity Securities - Introduction
  4. Chapters 1-3

    The series 99 exam qualifies a person to perform covered functions in the operations department of their employing broker dealer. It is recommended that candidates spend at least 50 hours preparing ...
  5. Professionals

    Introduction To The Series 65 Exam

    The Series 65 is required in many states in order to be a fee-based advisor. Find out what it is and whether you need it.
  6. Professionals

    Series 6 Exam Prep: What Is A Security?

    Before you take the series 6, you need to understand what a security is as defined by the exam.
  7. Term

    What is the Series 66?

    The Series 66 exam is one of two tests required to register as both a securities agent and an investment advisor.
  8. Professionals

    Introduction

    FINRA/NASAA Series 63: Section 6 Interviews. See this section for advice and candidate interviews.
  9. Professionals

    Pass Your CFA Exams on the First Try

    Become one of the elite who pass these exams by using these simple study methods.
  10. Professionals

    Introduction

    Series 6 Section 1 Exam Details, introduction
RELATED TERMS
  1. Series 34

    An exam required for individuals seeking to engage in off-exchange ...
  2. Series 66

    An exam administered by the Financial Industry Regulatory Authority ...
  3. Series 86/87

    An exam administered by the Financial Industry Regulatory Authority ...
  4. Series 23

    An exam offered by the Financial Industry Regulatory Authority ...
  5. Series 26

    A securities license entitling the holder to register as a limited ...
  6. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude ...

You May Also Like

Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center