Career guide
Which securities license do you need?
The SIE, Series 6, 7, 22, 24, 63, 65, 66, 82, 99, and life insurance exams each open a different door. Here's what each one lets you do, whether you need a sponsor, and how to pick the right starting point.
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Which license do you actually need?
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General guidance, not legal or career advice. Registration requirements are set by FINRA, NASAA, and your state regulator — confirm current rules with them before registering.
Start with the SIE
Almost everyone entering the securities industry begins with the Securities Industry Essentials (SIE) exam. It requires no sponsor, so you can take it before you even have a job offer — and it's a corequisite for the Series 6 and Series 7. After the SIE, the license you pursue depends on what you'll sell and who you'll work for.
The exams at a glance
SIE
No sponsor neededThe SIE is open to anyone 18 or older — no firm sponsorship required, which makes it the ideal first securities exam.
75 questions · 105 minutes · ~70% to pass
Series 6
Sponsor requiredThe Series 6 requires firm sponsorship and the SIE as a corequisite. It covers mutual funds and variable products.
50 questions · 90 minutes · ~70% to pass
Series 7
Sponsor requiredThe Series 7 requires firm sponsorship and the SIE as a corequisite. It's the license that lets you sell most securities products.
125 questions · 225 minutes · ~72% to pass
Series 22
Sponsor requiredThe Series 22 requires association with and sponsorship by a FINRA member firm, and the SIE is a corequisite — you must pass both, in either order.
50 questions · 90 minutes · ~70% to pass
Series 24
Sponsor requiredThe Series 24 requires sponsorship by a FINRA member firm and a qualifying representative-level registration. FINRA's outline and its exam page currently list different prerequisite sets, so confirm your own eligibility with FINRA before scheduling.
150 questions · 225 minutes · ~70% to pass
Series 63
No sponsor neededThe Series 63 is a NASAA state-law exam. It has no SIE prerequisite and is often taken alongside the Series 6 or 7.
60 questions · 75 minutes · ~71% to pass
Series 65
No sponsor neededThe Series 65 satisfies the exam requirement to register as an Investment Adviser Representative — you still register with your state to be licensed. No sponsorship and no SIE are required to sit it, so anyone can take it.
130 questions · 180 minutes · ~70% to pass
Series 66
No sponsor to sitNo sponsorship is required to sit the Series 66 — anyone may take it. The Series 7 is a COREQUISITE for using it to register: you need both, but they can be passed in either order.
100 questions · 150 minutes · ~73% to pass
Series 82
Sponsor requiredThe Series 82 requires sponsorship by a FINRA member firm, and the SIE is a corequisite — you must pass both, in either order. The registration category is set by FINRA Rule 1220(b)(9).
50 questions · 90 minutes · ~70% to pass
Series 99
Sponsor requiredThe Series 99 requires sponsorship by a FINRA member firm, and the SIE is a corequisite — you must pass both, in either order. FINRA also waives the Series 99 for holders of several other registrations, including the Series 6, 7, 24, 26 and 27, held within the prior two years.
50 questions · 90 minutes · ~68% to pass
Life Insurance
No sponsor neededNo firm sponsorship is required — that is a securities concept, not an insurance one. Most states do require a prelicensing course first. Licensing is administered state by state, so question counts, time limits, and passing scores vary; our prep covers national concepts common across most state life-insurance exams.
100 questions · 130 minutes · ~70% to pass
How to choose your path
Selling funds & variable products
SIE → Series 6. Add the Series 63 for state law where required.
Full-service securities rep
SIE → Series 7 → Series 66 (or Series 63) to cover state law.
Becoming an investment adviser (RIA)
Series 65 — no sponsor or SIE required, so many take it independently.
Selling life insurance & annuities
Your state's life insurance license — often paired with the Series 6.
Supervising a branch or a desk
Series 24. It requires firm sponsorship and a qualifying representative-level registration, so it comes after a rep license rather than instead of one.
Private placements & Reg D offerings
SIE → Series 82, the licence for soliciting securities sold under an exemption rather than in a registered public offering.
Direct participation programs
SIE → Series 22, for partnership interests and other DPP interests — a narrower licence than the Series 7 and a shorter exam.
Operations & back office
SIE → Series 99, for clearance, settlement, account transfers and books and records. Several other registrations waive it, so check before you enrol.
Whichever exam you need, we cover it.
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Keep reading
How the two exams differ and which to take first.
What makes it tough and how to pass efficiently.
Disclosures
Finance Exam Pro is not affiliated with FINRA, NASAA, or any exam sponsor. This guide is general information, not licensing advice — always confirm current requirements with FINRA, NASAA, or your state regulator.