A:

After you have successfully completed your exam, you have two years to become registered or licensed to prevent your completion status from becoming invalid. Once you do obtain employment, the hiring firm must submit form U-4 to the Financial Industry Regulatory Authority or FINRA. A state fee must also be paid and a background check performed.
So long as you are registered (employed), your exam completion will not expire. However, if your employment with the firm is terminated (either by yourself or the firm), your registration with the state is also terminated. To prevent having to re-write the exam, which is necessary to change an expired status with the Central Registration Depository (CRD), you must, within two years, obtain employment with a firm that will register you with the state.

As a side note, the NASAA indicates that it is sometimes possible for the state to waive an expired exam status if the individual was working within the financial services industry in a position that did not require registration. Further information on waiver policies and guidelines can be found here.

RELATED FAQS
  1. I passed my Series 7 exam, but I terminated employment at my sponsoring firm before ...

    Yes. Your exam is valid for a period of two years. Under normal circumstances, in order to have you become licensed or registered, ... Read Answer >>
  2. Where do I get a certificate or other evidence of passing the Series 63 exam?

    Learn more about the use of Series 63 exam results and how passing information is provided to regulators and employers. Find ... Read Answer >>
  3. 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 >>
  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. Is it possible to take the Series 6 exam without being sponsored?

    Unfortunately, the answer to this question is "No." The Financial Industry Regulatory Authority or FINRA (previously the ... Read Answer >>
  6. If my employment with my current firm terminates relatively soon, do I have two years ...

    Yes. When your employment ends with the current firm, your registration with the Financial Industry Regulatory Authority ... Read Answer >>
Related Articles
  1. Managing Wealth

    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.
  2. Professionals

    Prepare For Your CFA Exams

    Find out how to get yourself ready for these lengthy and often daunting exams.
  3. Financial Advisor

    Should You Add A Securities License To Your Qualifications?

    Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it.
  4. Financial Advisor

    Understanding Series 6

    Upon successful completion of the Series 6, an individual will have the qualifications needed to sell open end mutual funds and variable annuities
  5. Financial Advisor

    CFA Vs. Series 7: Which is Easier

    Find out which is exam is easier: The Chartered Financial Analyst (CFA) exam, or the Series 7 securities exam for registered representatives.
  6. Investing

    How to Ace the CFA Level I Exam

    Prepare to ace the CFA Level 1 exam by studying systematically.
  7. Personal Finance

    Tips For Passing The Series 6 Exam

    Find out what you can do during the test to make sure you get a passing score.
  8. Personal Finance

    Pass Your CFA Exams on the First Try

    Become one of the elite who pass these exams by using these simple study methods.
  9. Investing

    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.
  10. Professionals

    Who Needs to Take the Series 65?

    Most states require individuals to pass the Series 65 exam in order to act as investment advisors.
RELATED TERMS
  1. Series 66

    An exam administered by the Financial Industry Regulatory Authority ...
  2. Series 7

    A general securities registered representative license administered ...
  3. Series 14

    An exam administered by the Financial Industry Regulatory Authority ...
  4. Series 24

    A securities license entitling the holder to supervise and manage ...
  5. Series 26

    A securities license entitling the holder to register as a limited ...
  6. Series 23

    An exam offered by the Financial Industry Regulatory Authority ...
Hot Definitions
  1. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  2. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  3. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  4. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
  5. Weighted Average Life - WAL

    The average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding. Once calculated, ...
  6. Real Rate Of Return

    The annual percentage return realized on an investment, which is adjusted for changes in prices due to inflation or other ...
Trading Center