Your Essential Guide to the Series 63 License

Welcome to our comprehensive guide on the Series 63 license, an essential credential for financial services professionals aiming to work in the securities industry.

What is the Series 63?

The Series 63 (Uniform Securities Agent State Law Examination) license is a prerequisite exam for individuals who want to pursue a career in the financial services industry.. In order to obtain a Series 63 license, candidates must prepare for and pass the Series 63 exam. This exam is maintained by the North American Securities Administrators Association (NASAA) and administered by the Financial Industry Regulatory Authority (FINRA).

What Can I Do With a Series 63 License?

A Series 63 License is a prerequisite exam that allows candidates in the securities industry to sell as agents of broker-dealer investment products such as stocks, mutual funds, variable annuities, and unit investment trusts.

What States Require a Series 63 License?

In the majority of U.S. states, becoming a registered representative necessitates passing the Series 63 exam. This test encompasses the fundamentals of state securities regulations and rules that prohibit dishonest or unethical practices.

However, the states of Colorado, Florida, Louisiana, Maryland, along with the District of Columbia and Puerto Rico, do not mandate the Series 63 exam for this purpose.

How to Get a Series 63 License

To obtain a Series 63 license, you must pass the Series 63 exam (formally known as the Uniform Securities Agent State Law Examination). Candidates are given 1 hour and 15 minutes to complete the exam, and they must correctly answer at least 43 of the 60 scored questions to pass.

About the Series 63 Exam

The Series 63 examination consists of 65 multiple-choice questions. Of these questions, 60 will count towards an applicant’s final score while the remaining five are included for pretesting purposes. The exam covers eight main topics:

• Regulation of Broker-Dealers
• Regulation of Broker-Dealer Agents
• Ethical Practices and Obligations
• Communication with Customers and Prospects
• Regulation of Securities and Issuers
• Regulation of Investment Advisers
• Regulation of Investment Adviser Representatives
• Remedies and Administrative Provisions

The cost of the Series 63 exam is $147.

View the NASAA Series 63 exam content outline here.

Series 63 Exam Preparation

Investing in comprehensive Series 63 exam prep resources, like a study guide, flash cards, a tip sheet, and practice exams, can make a big difference in your success on the exam.

ExamFX offers training based on the exam’s content outline. It is designed to reinforce your understanding and retention of key concepts and regulations. We are committed to making sure that you’re well-prepared to pass on exam day.

Learn more about our Series 63 exam prep training course package here.