FINRA Series 63 License
What is a FINRA Series 63 License?
The Series 63, also known as the Uniform Securities Agent State Law Examination, is a requisite qualification exam for those intending to engage in securities trade within most United States jurisdictions.
Administered by the Financial Industry Regulatory Authority (FINRA), it assesses a candidate’s knowledge of state securities regulations and ethics. Its emphasis is on the legal aspects of securities sales, as opposed to investment details.
To qualify for the Series 63 exam, candidates must be sponsored by a FINRA member firm or a Self-Regulatory Organization (SRO). The exam covers topics like regulatory framework, ethical practices, and fiduciary responsibilities.
It consists of 60 multiple-choice questions which must be completed in 75 minutes.
| Series 63 Examination | Details |
|---|---|
| Exam Name | Uniform Securities Agent State Law Examination |
| Administered By | FINRA |
| Number of Questions | 60 |
| Time Allotted | 75 minutes |
| Passing Score | Typically 70% |
| Format | Multiple-choice |
Passing the Series 63 is mandatory to acquire a license for trading securities. It is vital for professionals looking to operate in various states, with the exception of a few that do not require the Series 63.
Achieving a passing score demonstrates a foundational understanding of state laws regulating the securities industry and solidifies our commitment to upholding high ethical standards.