What is the difference between Series 6 and Series 7 license?
Table of Contents
What is the difference between Series 6 and Series 7 license?
What is the difference between the Series 6 and Series 7 license? A Series 6 license is more restrictive in terms of what you can sell compared to a Series 7 license, which permits you to sell most securities except commodities futures, real estate, and life insurance.
What does a Series 7 license do?
The Series 7 license or general securities representative (GS) license allows the holder to sell almost all individual securities, including common and preferred stocks, call and put options, bonds, and other fixed income. Excluded from the list: commodities futures, real estate, and life insurance.
What does Series 6 allow you to do?
With a Series 6 license, you are able to sell mutual funds, variable annuities, variable life insurance, unit investment trusts (UITs), and municipal fund securities. The Series 6 is often seen as the ideal companion license for those in the insurance industry.
What is the difference between Series 7 and Series 7 top off?
Although these exams have many topics in common, one of the major differences between them is that the Series 7 Top-Off delves deeper into each content area. Additionally, some subjects are tested on the Series 7 Top-Off Exam, but not on the SIE. These include taxation, rules of good delivery, and short sale rules.
How much money can you make with a Series 7 license?
General Securities Representative – (FINRA Series 7) Jobs by Salary
| Job Title | Range | Average |
|---|---|---|
| Registered Client Associate | Range:$43k – $71k | Average:$53,644 |
| Certified Financial Planner (CFP) | Range:$50k – $125k | Average:$71,599 |
| Financial Planner | Range:$43k – $100k | Average:$63,358 |
| Compliance Officer | Range:$51k – $106k | Average:$75,631 |
How many pass the Series 7 on the first try?
On average, the pass rate for the Series 7 exam is around 65\%. Comparatively, about 86\% of candidates pass the Series 63 on their first attempt.
How long is Series 7 GOOD FOR?
two years
The Series 7 license is good for the entire period that you work for a FINRA-member firm or self-regulatory organization (SRO). It only expires if you are terminated or leave a firm and do not find employment within two years at another FINRA-member firm or SRO.
Is series 6 or 7 harder?
Of the two, the Series 7 is the tougher but more comprehensive exam. It allows you to deal with almost any type of security, from stocks to bonds to investment trusts and funds, that a professional or retail investor would want.
Is the Series 6 license hard?
The Series 6 is a tough exam, especially for those who find it is their first introduction to the world of securities. In this article, we’ll give you six additional easy tips on how to approach the information and proven techniques for studying for and taking the test.