Series 6 License
The Series 6 license is a limited-investment securities license that allows its holders to sell “packaged” investment products such as mutual funds, variable annuities, and unit investment trusts (UITs). It is specifically tailored for insurance professionals who want to sell these types of products. Insurance agents who sell variable investment products are required to have a Series 6 license.
Key Facts
- The Series 6 license is a limited-investment securities license.
- It is specifically tailored for insurance professionals who want to sell “packaged” investment products such as mutual funds, variable annuities, and unit investment trusts (UITs).
- Insurance agents who sell variable investment products are required to have a Series 6 license.
- The Series 6 exam covers information regarding packaged investments, securities regulations, and ethics.
- Principals who supervise representatives holding a Series 6 license must also obtain the Series 26 license.
Series 63 License:
- The Series 63 license, also known as the Uniform Securities Agent license, is required by each state where licensees conduct business.
- It is a national test and does not vary by state.
- The Series 63 exam focuses on ethical practices and fiduciary obligations.
- All Series 6 and Series 7 licensees must carry a Series 63 license.
- Some states do not require a Series 63 license in addition to a Series 6 license to sell securities.
The Series 6 exam is 90 minutes long and covers information regarding packaged investments, securities regulations, and ethics. Principals who supervise representatives holding a Series 6 license must also obtain the Series 26 license.
Series 63 License
The Series 63 license, also known as the Uniform Securities Agent license, is required by each state where licensees conduct business. It is a national test and does not vary by state. The Series 63 exam focuses on ethical practices and fiduciary obligations. All Series 6 and Series 7 licensees must carry a Series 63 license.
Some states do not require a Series 63 license in addition to a Series 6 license to sell securities. These states include Colorado, Florida, Louisiana, Maryland, New Jersey, Ohio, Vermont, and the District of Columbia.
Sources
- StateRequirement: What are Series 6 and 63 Securities Licenses?
- Investopedia: What Are Financial Securities Licenses?
- ABTrainingCenter: Series 6 & 63 Licensing Requirements
FAQs
What is a Series 6 license?
The Series 6 license is a limited-investment securities license that allows its holders to sell “packaged” investment products such as mutual funds, variable annuities, and unit investment trusts (UITs). It is specifically tailored for insurance professionals who want to sell these types of products.
What is a Series 63 license?
The Series 63 license, also known as the Uniform Securities Agent license, is required by each state where licensees conduct business. It is a national test and does not vary by state. The Series 63 exam focuses on ethical practices and fiduciary obligations.
Do I need both a Series 6 and Series 63 license?
Yes, all Series 6 licensees must also have a Series 63 license. However, some states do not require a Series 63 license in addition to a Series 6 license to sell securities. These states include Colorado, Florida, Louisiana, Maryland, New Jersey, Ohio, Vermont, and the District of Columbia.
What is the difference between a Series 6 and Series 7 license?
The Series 6 license is a limited-investment securities license that allows its holders to sell “packaged” investment products. The Series 7 license is a general securities representative license that allows its holders to sell all types of securities, including stocks, bonds, and options.
What are the requirements for obtaining a Series 6 license?
To obtain a Series 6 license, you must:
- Be at least 18 years old
- Have a high school diploma or equivalent
- Pass the Series 6 exam
- Be sponsored by a FINRA member firm
What are the requirements for obtaining a Series 63 license?
To obtain a Series 63 license, you must:
- Be at least 18 years old
- Have a high school diploma or equivalent
- Pass the Series 63 exam
- Be sponsored by a FINRA member firm
How long does it take to get a Series 6 or Series 63 license?
The time it takes to get a Series 6 or Series 63 license varies depending on how much time you have to study and how well you prepare for the exam. However, most people can expect to spend several months studying for the exam.
How much does it cost to get a Series 6 or Series 63 license?
The cost of getting a Series 6 or Series 63 license varies depending on the state in which you are applying for the license. However, you can expect to pay around $200-$300 for the exam and $50-$100 for the application fee.