Q:

No. According to the Financial Industry Regulatory Authority (FINRA), (formerly the National Association of Securities Dealers), you can convert your Series 7 license into a Series 6 license if your registration is still active. If at a later time you would again like to be registered with a Series 7 license, all you need is your firm's permission. You cannot convert from a Series 7 to a 6 license and vice versa if you have not been registered with a member firm for more than two years. In this case you would need to rewrite your Series 7 examination to re-qualify as a general securities registered representative.

To read more about the Series 7, see Solving Mixed Options Problems On The Series 7.

A:

RELATED FAQS

  1. Q: Do I need to take the Series 6 examination after I have already successfully completed ...

    No. According to the National Association of Securities Dealers (NASD) you can convert your Series 7 license into a Series ...
  2. If I have passed the Series 7 exam, do I need to write the 6 and 63 exams as well?

    Not always. According to the Financial Industry Regulatory Authority (FINRA), (formerly National Association of Securities ...
  3. I completed the Series 6, do I have to complete the entire Series 7?

    After having written the Series 6 examination, there would be significant overlap with the Series 7 in areas such as mutual ...
  4. Do financial advisors have to be licensed?

    Understand why all financial advisors have to be licensed, and identify the specific licenses you must obtain to carry out ...
  5. Do financial advisors need to pass the Series 7 exam?

    Learn about the various securities licensing exams, such as the Series 7 exam, and which licenses are required for financial ...
  6. What are the differences between the Series 6 exam and the Series 7 exam?

    Learn about the regulatory exams needed to become a limited or registered representative and the main differences between ...
RELATED TERMS
  1. Series 7

    A general securities registered representative license administered ...
  2. Series 4

    A securities license entitling the holder to supervise options ...
  3. Series 72

    An exam administered by the Financial Industry Regulatory Authority ...
  4. Series 63

    A securities license entitling the holder to solicit orders for ...
  5. Series 11 License - Assistant Representative - Order Processing

    A securities license, administered by the Financial Industry ...
  6. Series 9/10

    A securities license entitling the holder to supervise branch ...
Hot Definitions
  1. Federal Direct Loan Program

    A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct ...
  2. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  3. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  4. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  5. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  6. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
Trading Center