Series 23

AAA

DEFINITION of 'Series 23'

An exam offered by the Financial Industry Regulatory Authority (FINRA) for financial professionals seeking to become general securities principals or sales supervisors. The Series 23 can only be taken once the Series 9/10 exams have been passed. The exam consists of 100 multiple-choice questions on the investment banking process (primary and secondary markets), market-making and trading activities at the firm level, managing office staff, and current FINRA regulations.

A score of 70% or better is required for passing.

INVESTOPEDIA EXPLAINS 'Series 23'

The Series 23 can be bypassed by taking the Series 24 exam, which is more comprehensive and includes information presented on the 9/10 exams.

A general securities principal has the authority to manage mutual funds, variable annuities and other pooled asset vehicles within FINRA and SEC-authorized firms. Sales supervisors can manage sales and brokerage staff, or work as general partners for a firm. Professionals taking this exam have typically been working in the industry for several years, and are looking to become mutual fund managers or office managers.

RELATED TERMS
  1. Series 9/10

    A securities license entitling the holder to supervise branch ...
  2. Series 7

    A general securities registered representative license administered ...
  3. Investment Banker

    An individual who works in a financial institution that is in ...
  4. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected ...
  5. Financial Industry Regulatory Authority ...

    A regulatory body created after the merger of the National Association ...
  6. Advanced Diploma In Insurance

    A qualification earned by insurance professionals and conferred ...
RELATED FAQS
  1. How does FINRA differ from the SEC?

    With all the financial organizations out there, knowing what they all do can be as complicated as knowing where to invest. ... Read Full Answer >>
  2. What are the best mutual funds for investing in the electronics sector?

    Within the technology sector, the electronics industry continues to experience growth as the technology that supports producing ... Read Full Answer >>
  3. How do I learn technical skills for trading commodities?

    Many resources are available for those seeking to learn to trade commodities, also known as futures, directly from the major ... Read Full Answer >>
  4. What are the differences between the Series 6 exam and the Series 7 exam?

    The Financial Industry Regulatory Authority (FINRA) offers a variety of licenses that must be obtained before conducting ... Read Full Answer >>
  5. How do waivers, reimbursements and recoupments affect a fund's expense ratio?

    Waivers, reimbursements and recoupments can initially serve to keep a fund's expense ratio lower than it would be otherwise. ... Read Full Answer >>
  6. 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 Full Answer >>
Related Articles
  1. Options & Futures

    Broker Or Trader: Which Career Is Right For You?

    A day in the life of a broker or trader is an exciting and varied one. Find out how to decide between these two financial professions.
  2. Professionals

    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.
  3. Professionals

    Investigating The Securities Police

    Learn about the history of FINRA and how this organization protects investors.
  4. Personal Finance

    6 World Class Universities In New York City

    A starter guide to six of the many world-class, respected and highly rated universities and colleges in New York City.
  5. Professionals

    Target Date Funds: More Popular, Cheaper Than Ever

    How target date funds can help investors weather volatility when it comes to saving for retirement.
  6. Personal Finance

    A Guide to Financial Education for Doctors

    Doctors need to choose the educational option which best fits his or her time, schedule and learning preference. Here's a guide.
  7. Mutual Funds & ETFs

    Pros & Cons Of Bond Funds Vs. Bond ETFs

    Understanding the pros and cons of bond funds and bond ETFs will help you choose the instrument that is best for building your diversified bond portfolio.
  8. Mutual Funds & ETFs

    How Janus Capital Makes Money

    Before investing in Janus, it is prudent to understand how it makes money and what costs detract from shareholder wealth.
  9. Personal Finance

    Masters Degree Vs. Work Experience: Which One Is More Valuable?

    Some argue that a master's degree only worsens student's financial situations, but future earnings data shows there can be a real financial benefit.
  10. Trading Strategies

    How Useful Is the CFA For A Day Trading Career?

    We take a look at how useful the Chartered Financial Analyst certification is for those wanting to start a career in day trading.

You May Also Like

Hot Definitions
  1. Capital Stock

    The common and preferred stock a company is authorized to issue, according to their corporate charter. Capital stock represents ...
  2. Unearned Revenue

    When an individual or company receives money for a service or product that has yet to be fulfilled. Unearned revenue can ...
  3. Trailing Twelve Months - TTM

    The timeframe of the past 12 months used for reporting financial figures. A company's trailing 12 months is a representation ...
  4. Subordinated Debt

    A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known ...
  5. International Financial Reporting Standards - IFRS

    A set of international accounting standards stating how particular types of transactions and other events should be reported ...
  6. Geometric Mean

    The average of a set of products, the calculation of which is commonly used to determine the performance results of an investment ...
Trading Center