Series 63

AAA

DEFINITION of 'Series 63'

A securities license entitling the holder to solicit orders for any type of security in a particular state. Securities agents must acquire the Series 63 license, in addition to a Series 7 or Series 6 license, in order to sell securities. To obtain a Series 63 license, the applicant must pass an exam to demonstrate knowledge of state securities acts and related rules and regulations, as well as knowledge of ethical practices and fiduciary obligations.

INVESTOPEDIA EXPLAINS 'Series 63'

The Series 63 exam was developed by the North American Securities Administrators Association (NASAA) and is also called the "Uniform Securities Agent State Law Examination." It is administered by the Financial Industry Regulatory Authority (FINRA) and mainly covers state laws and regulations. Test-takers also need to be familiar with the Uniform Securities Act and the NASAA's Statements of Policy and Model Rules. The exam has 65 questions, of which 60 are scored and at least 43 must be answered correctly for the applicant to pass.

RELATED TERMS
  1. Series 62

    An exam administered by the Financial Industry Regulatory Authority ...
  2. Series 30

    A securities license entitling the holder to become a futures ...
  3. Series 31

    A securities license entitling the holder to sell managed futures ...
  4. Series 6

    A securities license entitling the holder to register as a limited ...
  5. Series 65

    A securities license required by most U.S. states for individuals ...
  6. Series 7

    A general securities registered representative license administered ...
Related Articles
  1. Broker Or Trader: Which Career Is Right ...
    Options & Futures

    Broker Or Trader: Which Career Is Right ...

  2. Breaking Down Financial Securities Licenses
    Professionals

    Breaking Down Financial Securities Licenses

  3. Succeeding At The Series 63 Exam
    Professionals

    Succeeding At The Series 63 Exam

  4. Becoming A Financial Analyst
    Professionals

    Becoming A Financial Analyst

Hot Definitions
  1. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  4. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  5. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  6. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
Trading Center