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Securities Exams

FINRA, the U.S. Financial Industry Regulatory Authority, NASAA, and National Futures Association (NFA) conduct various financial securities examinations. These examinations classified into two levels, namely, Registered Representatives and Registered Principal. Most of these exams have a sponsorship requirement, but some don’t.

The following is a list of all securities exams:

Registered Representative Level:

Series 3 – National Commodity Futures Exam*

Series 5 – Interest Rate Options Exam

Series 6 – Investment Company and Variable Contracts Exam (Mutual Funds/Variable Annuities)

Series 7 – General Securities Representative Exam (Stockbroker)

Series 11 – Assistant Representative – Order Processing

Series 15 – Foreign Currency Options Exam

Series 17 – Limited Representative (FSA registration)

Series 22 – Direct Participation (Limited partnerships) Exam

Series 30 – Futures – Branch Office Manager Exam*

Series 31 – Futures – Managed Funds Exam*

Series 32 – Futures Exam – United Kingdom Representatives*

Series 37 – Canadian Module of the General Securities Exam

Series 38 – Canadian Module of the General Securities Exam

Series 42 – Registered Options Representative Exam

Series 44 – NYSE Arca Options Market Maker Exam

Series 47 – Japanese Module of the General Securities Exam

Series 52 – Municipal Securities Representative Exam

Series 55 – Equity Trader – Limited Representative Exam

Series 56 – Proprietary Trader Qualification Exam

Series 62 – Corporate Securities – Limited Representative Exam

Series 63 – Uniform Securities Agent State Law Exam*

Series 65 – Uniform Registered Investment Adviser Law Exam (RIA)*

Series 66 – Uniform Investment Adviser – Combined State Laws Exam (Combined 63 and 65)

Series 72 – Government Securities – Limited Representative

Series 79 – Investment Banking Exam

Series 82 – Private Securities Offerings – Limited Representative

Series 86 – Research Analyst – Securities Analysis

Series 87 – Research Analyst – Regulations

Series 99 – Operations Professional

Registered Principal Level:

Series 4 – Registered Options Principal Exam

Series 9 – NYSE General Securities Sales Supervisor Exam – Options

Series 10 – NYSE General Securities Sales Supervisor Exam – General Module

Series 12 – NYSE Branch Manager

Series 14 – NYSE Compliance Officer

Series 16 – NYSE Supervisory Analyst

Series 23 – General Securities Principal (Upgrade from Series 9 and 10)

Series 24 – General Securities Principal Exam

Series 26 – Investment Company (Mutual Funds) Principal Exam

Series 27 – Financial and Operations Principal Exam

Series 28 – Financial and Operations Principal Introducing Broker Exam

Series 39 – Direct Participation Programs Principal Exam

Series 51 – Municipal Fund Securities Limited Principal

Series 53 – Municipal Securities Principal Exam

In this list, Series 6, Series 7, Series 24, Series 63, Series 65, and Series 79 are the most popular ones.

Series 3, 30, 31, 32, and 65 do not have a sponsorship requirement to take the exam.

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