For people looking become stockbrokers, they must pass the Series 7. This license allows you to trade stocks, bonds and other registered securities for customers. Individuals cannot trade stocks unless they are Series 7 licensed.

Once you are a registered stockbroker, your license can be transferred to any brokerage firm.

Most brokers work on commission after they get their series 7. The successful stockbrokers are not the ones who got a high grade on their exam. The successful ones are the people who show a dedication to gather clients and assets. This is what will earn you the most money going forward.

The series 7 is the test that needs to be passed to become a broker with a FINRA firm.

The Series 7 is a 250 question exam that when passed, licenses you to act as a Registered Representative. Persons who receive this license are allowed to sell most securities. These securities would include: Stock, Bonds, Options, Mutual Funds and Annuities. The license itself is active while you are practicing it. Practicing with a Series 7 means that you are either employed or affiliated with a member firm. If you leave the business, your license will still remain active for 2 years after your last day with the firm. If you do not re-enter the business within 2 years, your license will expire. You would then have to re-take the exam again.

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