How to Get Your Series 63 License

Series 63 Feaute Picture
40px

The Series 63 (Uniform Securities Agent State Law) Securities License is a license regulated by the North American Securities Administrators Association (NASAA). The Series 63 is the partner license to the Series 6 and other securities licenses, and is used by insurance sales professionals and financial advisors.

Any insurance agent should strive toward achieving their Series 63 license, but if your main product line is life insurance, then this license is an absolute necessity.

The Series 6 license works alongside the Series 63 license, and both must be attained to market and sell securities linked products legally.

40px

How to Get the Series 63 License

Securities Industry Essentials Exam

Note: Prior to October 1st, 2018, the SIE Exam is not yet in place.  Skip to step 2.

The first step in getting your Series 63 License is taking and passing the Securities Industry Essentials (SIE) Exam.

This exam will be an "open"exam, which means that you will not need a FINRA affiliation before registering to take it.

We will have more information available as the opening of the SIE comes closer.

40px

Register for your Series 63 Exam

Unlike the Series 6 exam, you do not need to be sponsored by a FINRA member to take the Series 63 exam.

Even though this test is regulated by the NASAA, FINRA will take care of all administration of the exam.

Enroll for the Series 6 license exam on the FINRA website. You will need to create an account with FINRA.  Do not use a "junk email" address, as you will need all of the following correspondence to complete your registration.

After you have enrolled, you will receive more information about the exam, and a FINRA ID#.  Keep all of this information, as you will need it throughout the process.

40px

Schedule your Series 63 Exam

Once you have registered with FINRA, you may now schedule a time to take your exam.

Note: This is not an exam that anyone off the street can come and pass like a breeze. So why do we at StateRequirement say that scheduling your exam should come before studying? Simple. We are human.

Humans have a bad habit of putting things off to the end.  Since you only have 120 days before your registration period ends, we highly recommend that you give yourself a date for the exam, then do your studying. This will allow you to schedule out your studies, and not try to cram near the end of your registration.

Schedule your exam on the Prometric website, or call them at (800) 578-6273. Have your FINRA ID#, phone number, and name of the exam (Series 63) ready.

There is no fee due when scheduling the exam with Prometric.

We recommend giving yourself between three weeks and two months to properly study for the exam based upon your familiarity with the material and your ability to absorb new information. Don't schedule too far in advance, or you will give yourself more opportunity to procrastinate.

40px

Series 63 Exam Study

Once you have given yourself a target date in which you will take the exam, you must now prepare yourself to pass the exam on the first attempt.

As we mentioned earlier, this exam is not a walk in the park.  The material you will be studying is not common sense, it is in-depth, data-driven material that can be daunting if not taken seriously.

We're not trying to scare you, just attempting to be sure that you are properly prepared for the exam.

The NASAA has created a Series 63 Content Outline that covers all the material in the exam.

The basic outline is as follows:

  • Investment Advisor Regulation (5%)
  • Investment Advisor Representative Regulation (5%)
  • Broker-Dealers (15%)
  • Agents of Broker-Dealers (15%)
  • Securities and Issuers (5%)
  • Administrative Provisions (10%)
  • Customer Communication (20%)
  • Ethics and Obligations (25%)

 

You will have seventy-five (75) minutes to answer 65 multiple choice questions. Only 60 of those questions are scored, and 72% is a passing score.

Be prepared to see double negative questions, charts, consumer scenarios, and many other types of questions on this exam.

We know you can do it.

 

Series 6 Study Materials

There are many types of study materials available for all types of learners.

StateRequirement recommends Kaplan Education Company, as it is able to provide a 96% pass rate to its students on the Series 63 Exam.

They offer live and on demand classes that cover all the information that you need to pass the exam, along with self study materials for people who are already familiar with securities content.

FINRA has also put together a free Securities Exam Tutorial. Though this is less of a study tool, and more of a familiarization to the exam software, it is useful in that you will spend less time learning how the exam will look when the clock is ticking.

40px

Take the Series 63 Exam

Once you have studied to the point of full comprehension, you are ready to take the exam.

Arrive 30 minutes early to your Prometric location, and bring your FINRA ID# and any other materials requested.

Give the exam your all. You've got this.

40px

Congratulations!

We knew you could do it.

Your results will be sent to your FINRA sponsor within three (3) business days of your successful test.

 

Now that you've passed the Series 63 exam, we assume you will be moving on to the Series 6 license, as you will also need this license to be able to market and sell securities products in your state.

What happens if you don't pass on the first try?

The Series 63 exam follows the 30/30/180 rule.

After a failed attempt, you must wait 30 days to try again. If you do not pass on the second attempt, there is another 30 day waiting period. In the event of a third non-pass there will be a 180 day term until you can attempt the exam again.

40px
40px

FINRA Contact Information

FINRA
1735 K Street, NW
Washington DC, 20006
(301) 590-6500
www.finra.com

 

NASAA Contact Information

NASAA
750 First Street NE, Suite 1140
Washington DC, 20002
(202) 737-0900
www.nasaa.org

40px

Information on this page has been gathered by a multitude of sources, and was most recently updated in April 2018.

Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. Huge Hammer LLC and its members and affiliates are not responsible for any losses, monetary or otherwise. For more information, please contact your state's authority on insurance.

Disclosure: StateRequirement has an affiliation with Kaplan Education company, and may receive compensation based on user activity on this site. We truly believe that Kaplan offers excellent products and services, and compliments the mission of StateRequirement.