Securities licenses in the US are really exam qualifications plus registration. FINRA writes and runs the representative exams (SIE, Series 6, Series 7 and the principal and specialist exams). NASAA writes the state-law exams (Series 63, 65, 66), which FINRA administers. You become “licensed” when a firm registers you with FINRA and the states through the CRD system after you pass the right combination.
- 1,706 original questions across 6 exams
- Section drills + timed full-length exams
- 12 months, one-time - emailed to you after purchase
Your course access is emailed to you after purchase. 14-day money-back guarantee. Refund policy
The six exams most candidates need
| Exam | Official name | Owner | Scored Qs | Time | Passing | Fee | Sponsor? |
|---|---|---|---|---|---|---|---|
| Securities Industry Essentials (SIE) Exam | FINRA | 75 | 1 hr 45 min | 70 (scaled) | $100 | No | |
| General Securities Representative Exam | FINRA | 125 | 3 hr 45 min | 72 (scaled) | $395 | Yes | |
| Investment Company and Variable Contracts Products Representative Exam | FINRA | 50 | 1 hr 30 min | 70 (scaled) | $100 | Yes | |
| Uniform Securities Agent State Law Exam | NASAA | 60 | 75 min | 43 of 60 correct (about 72%) | $147 | No | |
| Uniform Investment Adviser Law Exam | NASAA | 130 | 3 hr | 92 of 130 correct (about 71%) | $187 | No | |
| Uniform Combined State Law Exam | NASAA | 100 | 2 hr 30 min | 73 of 100 correct (73%) | $177 | No |
Which license for which job
| You want to... | Exams | Exam fees |
|---|---|---|
| Sell stocks, bonds, options and funds as a broker | SIE + Series 7 + Series 63 | $642 |
| Be a broker and charge advisory fees (dual registration) | SIE + Series 7 + Series 66 | $672 |
| Give fee-only advice at an RIA | Series 65 | $187 |
| Sell only mutual funds and variable annuities | SIE + Series 6 + Series 63 | $347 |
| Show employers you are serious before being hired | SIE (no sponsor needed) | $100 |
Other FINRA exams
FINRA also runs principal exams (for example the Series 24 General Securities Principal), specialist exams such as the Series 79 (investment banking), Series 57 (securities trader), Series 82 (private placements) and Series 99 (operations), and administers NFA futures exams (Series 3). Those are outside our current prep catalog; FINRA’s qualification exams page lists every exam with its current format and fee.
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SIE to Series 66 prep course - $39
SIE, Series 6, 7, 63, 65 and 66 in one prep course: 1,706 outline-weighted practice questions with explanations, section drills and timed full-length exams. One-time payment, 12 months of access, emailed to you after purchase.
Your course access is emailed to you after purchase. 14-day money-back guarantee. Refund policy
Frequently asked questions
What licenses do financial advisors need?
It depends on how they are paid. Commission-based brokers need the SIE, Series 7 and usually Series 63. Fee-based investment adviser representatives need the Series 65, or the Series 66 if they also hold the Series 7.
What is the difference between FINRA and NASAA exams?
FINRA exams (SIE, 6, 7) test federal and industry rules and, except the SIE, require firm sponsorship. NASAA exams (63, 65, 66) test state law; FINRA administers them, and they can be taken without a sponsor.
Which securities exams can I take without a sponsor?
The SIE, Series 63, Series 65 and Series 66. The Series 6 and Series 7 require a sponsoring FINRA member firm.
How much do securities licenses cost?
Exam fees alone: SIE $100, Series 6 $100, Series 7 $395, Series 63 $147, Series 65 $187, Series 66 $177 (verified 2026-09-23). A broker path (SIE + 7 + 63) is $642 in fees.
Sources
- FINRA - Qualification Exams (accessed 2026-09-23)
- FINRA - Securities Industry Essentials (SIE) Exam (accessed 2026-09-23)
- FINRA - Series 7 General Securities Representative Exam (accessed 2026-09-23)
- FINRA - Series 6 Investment Company and Variable Contracts Products Representative Exam (accessed 2026-09-23)
- FINRA - Series 63 Uniform Securities Agent State Law Exam (accessed 2026-09-23)
- FINRA - Series 65 Uniform Investment Adviser Law Exam (accessed 2026-09-23)
- FINRA - Series 66 Uniform Combined State Law Exam (accessed 2026-09-23)
- NASAA - Exam FAQs (accessed 2026-09-23)