Series 11 License - Assistant Representative - Order Processing


DEFINITION of 'Series 11 License - Assistant Representative - Order Processing'

A securities license, administered by the Financial Industry Regulatory Authority (FINRA), for sales assistants who can accept unsolicited securities orders for customers, but cannot accept orders for municipal securities or direct participation programs. The FINRA qualification examination for the Series 11 license is called Assistant Representative – Order Processing (AR), and there is no prerequisite for taking the exam. FINRA is involved in most aspects of the securities business, including registering and educating industry participants, examining securities firms, writing and enforcing rules, informing and educating the investing public and administering a dispute resolution forum for registered firms and investors.

BREAKING DOWN 'Series 11 License - Assistant Representative - Order Processing'

Administered by the Financial Industry Regulatory Authority (FINRA), the Series 11 exam covers beginner topics such as types of securities, options basics, rules and regulations. The exam includes 50 multiple choice questions in a 60 minute testing time. Other FINRA administered qualification examinations include Series 3 – National Commodity Futures (CR); Series 7 – General Securities Representative (GS) and Series 63 – Uniform Securities Agent State Law. Anyone who is associated with a member firm that is affiliated with the securities business of the firm must be registered with the FINRA. This includes partners, officers, directors, branch managers, department supervisors and salespersons.

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