A:

Not always. According to the Financial Industry Regulatory Authority (FINRA), if your Series 7 is still active, you can temporarily convert your license into a Series 6 without writing the Series 6 examination. This is because the Series 7 exam is essentially the Series 6, 22, 42, 52, 62, 72, and 82 examinations all wrapped into one, so you have already studied Series 6 materials.

This is very helpful if your current job title restricts you from registering as a General Securities Representative. If you are able later on to register with a Series 7, all you need is your firm's permission to convert back to your Series 7 registration. Click here for more information.

However, you should know that, unlike the Series 6 exam, the Series 63 exam material does not cover the same ground as the Series 7 exam. It is a supplemental exam that mainly deals with the Uniform Securities Act and is administered by the North American Securities Administrators Association (NASAA). It is required by law in some states in America. Click here to see if you are required to write the Series 63 examination.

RELATED FAQS
  1. I have passed the Series 63 and FINRA Series 7, but would like to become licensed ...

    Becoming an investment adviser representative requires more examination than just taking the FINRA Series 63 exam. See what ... Read Answer >>
  2. Do I need to take the Series 6 examination after I have already successfully completed ...

    No. According to the Financial Industry Regulatory Authority (FINRA), you can convert your Series 7 license into a Series ... Read Answer >>
  3. 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 ... Read Answer >>
  4. 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 ... Read Answer >>
  5. 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 ... Read Answer >>
Related Articles
  1. Personal Finance

    The Series 79 Exam: What It Is And When You Need It

    If you're getting into the field of investment banking, you'll need to know all about the Series 79.
  2. Financial Advisor

    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.
  3. Financial Advisor

    Series 63, Series 65 Or Series 66?

    When joining the world of investment professionals, you must take the right exams.
  4. Financial Advisor

    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.
  5. Financial Advisor

    The Basics of Financial Securities Licenses

    The Financial Industry Regulatory Authority (FINRA) offers several licenses that correspond to specific businesses or investments.
  6. Financial Advisor

    Understanding Series 63

    Series 63 is a securities license that entitles the holder to sell securities in a particular state.
  7. Financial Advisor

    Breaking Down Financial Securities Licenses

    Find out which exam you need to begin your career as an investment professional.
  8. Financial Advisor

    Sell-Side Analysts Need Series 86/87 Exams

    Though these tests are not particularly difficult or comprehensive, passing them is mandatory to work as a sell-side analyst.
  9. Financial Advisor

    Series 7 Exam Prep: Options

    One of the most challenging topics in the series 7 exam is options. Find out what you need to know before you take the test.
  10. Personal Finance

    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.
RELATED TERMS
  1. Series 7

    A general securities registered representative license administered ...
  2. Series 63

    A securities license entitling the holder to solicit orders for ...
  3. Series 4

    A securities license entitling the holder to supervise options ...
  4. Series 24

    A securities license entitling the holder to supervise and manage ...
  5. Series 51

    An exam offered by the Financial Industry Regulatory Authority ...
  6. Series 65

    A securities license required by most U.S. states for individuals ...
Trading Center