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 an NASD firm.