Series 7 question

Discussion in 'Professional Trading' started by dcunited, Oct 19, 2003.

  1. Does anyone know if a firm needs to sponser you to take the 7 or whether one can take it by themselves with no firm affiliation. Trying to find the info on the NASD website but strking out. Thanks for any info!
  2. lescor


    I was told by two different firms that you had to be sponsored for the 7 and 55, but you could take the series 63 on your own.
  3. You have to be sponsored, there is a company that will sponsor you, BUT you have to buy the study materials from them. It's not cheap, but if you want more information:
  4. Why do you want to take the exams without joining a firm first?

    Are you a glutton for punishment?
  5. Here is a link to NASD with your answer

    The other way to get there through the NASDR website is to click on

    then click on ASKNASD on the middle left of the page.

    As far as a company that will sponsor you. You must have the intention to work for the firm, as it is wrong for a company to sell sponsorships (although some do exist). If the NASD finds out about it, they could revoke the firms license. (at least this is what i have heard.)
  6. thanks everyone, I'm liscensed, a friend of mine was looking to take the 7 and CFA in order to build the resume to jump from life at Wells Fargo to a buy side institution. I wasn't sure on the 7 (and I wished her the best of luck on the CFA, that's a doozy)
  7. Can you take the series 63 on your own?
  8. I am not sure why a "buy-side" firm would even care about whether or not you had a Series 7 license. Besides, if you left Wells Fargo for the "buy-side" firm, you wouldn't be able to register your license with them, cause they are not a "broker-dealer". Moreover, your license would expire after 2 years if you didn't find a place to "hang" it.

    You can take the Series 63 as an independent, and without sponsorship. It is a 90 minute exam, that is full of legal mumbo-jumbo, written by attorneys, for attorneys. It has very little to do with the Series 7, or the financial markets for that matter.

    Some "buy-side" firms like their employees having the 63.

    For what it's worth, you can also take the Series 3 ( commodity futures ) as an independent, and without sponsorship. However, you do have to register with the National Futures Association as a CTA - Commodity Trading Advisor, and that requires $100.00 per year.
  9. qazmax



    Do I need to be sponsored by a brokerage firm in order to take the Series 7 examination?


    In order to take the Series 7 exam, an NASD-member brokerage firm, a self-regulatory organization (SRO), exchange or state regulator must sponsor you. To learn more, please visit our Web page Qualifications, Exams & Continuing Education.

    #10     Apr 14, 2004