Q:

Unfortunately, the answer is "No." The Financial Industry Regulatory Authority or FINRA, (formerly the National Association of Securities Dealers (NASD)), requires an individual to be sponsored by a member firm, a self-regulatory organization (SRO), or an exchange in order to write the Series 7 exam.

The Series 7 exam allows a finance professional to demonstrate his or her competence in all areas of trading, except for commodities and futures. It is the first step of the registration process set forth by FINRA. In order to schedule an exam, the member firm that sponsors you must file the Uniform Application for Securities Industry Registration or Transfer (Form U-4) with FINRA. Click here for the most recent PDF version of Form U-4, and here for instructions on how to complete the form.

For Form U-4 to be completed to the liking of FINRA, the sponsoring firm must act as an Appropriate Signatory. Therefore, if an individual attempted to file this form without the signature of a sponsoring firm, the application would be rejected and monies paid toward registration might not be refunded.

This may lead you to wonder, how do you get sponsored? Click here for more information on obtaining sponsorship for an exam.

A:

MORE FAQS

  1. Is it possible to take the Series 6 exam without being sponsored?

  2. Do I need to be a U.S. resident to take the Series 63 exam as an individual?

  3. Do I need to be sponsored or employed by a member firm in order to write the Series 66 exam?

  4. What are the differences between the Series 6 exam and the Series 7 exam?

  5. What major is required to take the Series 7 examination?

  6. What does passing the Series 6 enable me to do?

  7. How do I receive sponsorship from a member firm in order to write a Series 7 exam?

  8. I have passed the Series 63 and FINRA Series 7, but would like to become licensed as an investment advisor. Should I take the Series 65 or Series 66?

  9. I am not currently employed at a member firm, but I have independently written the Series 63 exam. How do I keep this status valid?

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

  11. If I have passed the Series 7 exam, do I need to write the 6 and 63 exams as well?

  12. Do I have to successfully complete the Series 7 exam before I can register for the Series 63 exam?

  13. I passed my Series 7 exam, but I terminated employment at my sponsoring firm before I received my license. Is my exam still valid?

  14. What are my options if I fail my Series 63 exam?

  15. I decided not to take the Series 63 exam. Can I get a refund?

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