Securities Licensing

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A Series 6 registration qualifies you to solicit, purchase, and/or sell the securities of companies registered under the Investment Companies Act of 1940, including mutual funds, closed-end companies, and variable contracts. Note that you can also sell these products with a Series 7.

A Series 7 registration qualifies you to solicit, purchase, and/or sell all securities products, including corporate and municipal securities, options, direct participation programs, mutual funds, and variable contracts.

A Series 24 registration qualifies you to manage or supervise a FINRA member's investment banking or securities business for corporate securities, rights, warrants, closed-end funds, money market funds, REITS, asset-backed securities, (corporate) mortgage-backed securities, mutual funds, variable annuities and variable life insurance, direct participation programs, securities traders, venture capital, mergers and acquisitions, and corporate financing. However, there are several positions that a Series 24 exam will not qualify you for, including supervising options and municipal securities. As a prerequisite to the Series 24 exam, you must pass the Series 7, 62, 79, or 82 exam.

The municipal fund securities limited principal Series 51 was created by the MSRB to license individuals who have primary responsibility for overseeing the municipal fund securities activities of a broker, dealer or municipal securities dealer.

A Series 63 registration qualifies you as a securities agent in a specific state. It covers the principles of state securities regulation, most notably the Uniform Securities Act.

A Series 65 registration qualifies you as an investment adviser representative, enabling you to provide investment advice to clients. A Series 66 license does the same; however, the Series 66 must be taken in conjunction with the Series 7 and is used by securities professionals who wish to be registered as both agents and IARs.

In conjunction with the FINRA Series 7 General Securities Representative license, the NASAA Series 66 license qualifies you as both a securities agent and an investment advisor representative.