Series 9/10

The Series 9/10 license combination stands out as essential credentials for individuals seeking to engage in the sales and distribution of a wide range of financial products as general securities sales supervisors.

This license comprises the Series 9 (General Securities Sales Supervisor – Options Exam) and Series 10 (General Securities Sales Supervisor – General Exam) exams. These exams not only reflect a deep understanding of financial markets but also underscore a commitment to ethical conduct and client well-being.

In this article, we cover the Series 9/10 licenses as well as how to obtain and maintain this license.

What is the Series 9/10 License?

The Series 9/10 combined license, issued by the Financial Industry Regulatory Authority (FINRA), is designed to regulate and monitor the activities of those involved in the sales and distribution of money market funds, variable contracts, and direct participation programs.

These licenses are vital for general securities sales supervisors who wish to provide clients with valuable insights into investment options, aid in decision-making, and ensure compliance with legal and ethical standards.

All in all, getting a Series 9/10 license can be a good idea if:

• You’re seeking career advancement opportunities, such as managerial or supervisory roles, within brokerage firms, investment banks, and other financial institutions
• You wish to equip yourself with a versatile skill set. This knowledge can be applied across various aspects of the industry, from options trading, sales of corporate securities and municipal securities to compliance and persons and personnel management
• You aim to enhance your credibility and instill trust in clients, who will feel more comfortable relying on your sales practices and general expertise to navigate the complexities of financial markets
• You’re working towards higher compensation and performance-based incentives. These licenses can potentially lead to enhanced earning potential as you progress in your career

While the Series 9 license hones in on the complexities of options trading and handling customer accounts, the Series 10 license takes a broader approach, covering a diverse spectrum of securities sales, from corporate securities to government securities

Having this license helps you to effectively supervise sales practices as well as associated persons and personnel within your firm, ensuring that all transactions and interactions align with regulatory guidelines.

How to Get Your Series 9/10 License

Before starting the Series 9/10 examination, you will need to fulfill the following prerequisites to sit for the exam:

• Be associated with and sponsored by a FINRA member firm or another applicable self-regulatory organization (SRO)
• Pass the Securities Industry Essentials (SIE) Exam
• Pass the Series 7 (General Securities Representative Exam)
• Have an approved accommodation to schedule an online appointment

Exam Preparation & Procedure

The Series 9 and Series 10 exams will assess your comprehension of securities sales supervision, ethical conduct, regulatory compliance, and more.

The Series 9/10 two-part exam will cover municipal securities as well as corporate securities sales, supervision and maintenance of customer options accounts and associated persons, and more. Each exam consists of multiple-choice questions.

All in all, you should be able to achieve a successful outcome in your initial exam attempt as long as you:

• Prepare for the Exam: Make sure you are prepared for the exam by delving into the study materials, practicing with sample questions, and comprehensively reviewing the content outlines
• Manage Time Effectively: Strategically allocate your time to cover all sections of the exam, balancing your pace to ensure sufficient attention to each question without becoming time-constrained
• Familiarize Yourself with Exam Guidelines: Stay informed about the most recent regulations governing exam scheduling and administration. This proactive approach will help prevent any potential cancellations of your scheduled test
• Use Online Educational Resources: Take advantage of utilizing online study tools as part of your Series 9/10 exam preparation. These tools frequently provide interactive Q&A sessions, informative video tutorials, and an array of study materials, which can improve your grasp of Series-specific concepts
• Maintain Consistency: Consistent practice is key when taking exams. Allocate equal study time to all facets of the exam, such as offerings and securities registration, financial restructuring, and more

We recommend using an online study program to get ready for your Series 9/10 exam. These usually offer question and answer sessions, helpful videos from experienced financial experts, and lots of online materials to help you get ready as effectively as you can.

Maintaining Your License

Earning your Series 9/10 license can open doors to a world of opportunities within the financial services industry. 

However, the journey doesn’t end with getting your license. Maintaining your Series 9/10 license is essential for continued growth and success in your career.

We’ve provided several ways to assist you in maintaining your license and staying up-to-date:

• Stay informed and updated: To maintain your Series 9/10 license, commit to staying informed about changes in industry regulations and market trends. Regularly review updates from regulatory bodies like FINRA to ensure you remain compliant and informed in the latest developments.
• Seek continuous learning: Take relevant continuing education courses and additional certifications or licenses that complement your Series 9/10 qualifications, such as pursuing other designations (for example, Series 24 licenses).
• Network and collaborate: Connect with fellow professionals and attend industry conferences. Building a strong professional network not only enriches your knowledge base but also exposes you to the latest practices and different experiences that can contribute to your ongoing success.

Maintaining your Series 9/10 license requires dedication, ongoing learning, and a commitment to ethical conduct, ensuring a fulfilling career in the world of financial services.