Subject: Regulation - Series of Examinations/Registrations

Last-revised: 30 Sep 1999
Contributed-By: Charlie H. Luh, Chris Lott (contact me)

The National Association of Securities Dealers (NASD) administers a series of licensing examinations that are used to qualify people for employment in many parts of the finance industry. For example, the Series 7 is commonly (although somewhat incorrectly) known as the stockbroker exam. The following examinations are offered:

  • Series 3 - Commodity Futures Examination
  • Series 4 - Registered Options Principal
  • Series 5 - Interest Rate Options Examination
  • Series 6 - Investment Company and Variable Contracts Products Rep.
    Translation: qualifies sales representatives to sell mutual funds and variable annuities.
  • Series 7 - Full Registration/General Securities Representative
    Translation: qualifies sales representatives to sell stocks and bonds. Variations include:
    • Securities Traders (NYSE)
    • Trading Supervisor (NYSE)
  • Series 8 - General Securities Sales Supervisor
    • Branch Office Manager (NYSE)
  • Series 11 - Assistant Representative/Order Processing
  • Series 15 - Foreign Currency Options
  • Series 16 - Supervisory Analyst
  • Series 22 - Direct Participation Program Representative
  • Series 24 - General Securities Principal
  • Series 26 - Investment Company and Variable Contracts Principal
  • Series 27 - Financial and Operations Principal
  • Series 28 - Introducing B/D/Financial and Operations Principal
  • Series 39 - Direct Participation Program Principal
  • Series 42 - Options Representative
  • Series 52 - Municipal Securities Representative
  • Series 53 - Municipal Securities Principal
  • Series 62 - Corporate Securities Representative
  • Series 63 - Uniform Securities Agent State Law Examination
  • Series 65 - Uniform Investment Advisor Law Examination

The following NASD resources should help.

  • The procedures for becoming a member of NASD, including details about registering personnel through the Central Registration Depository (CRD).
    http://www.nasdr.com/4700.htm
  • The NASD's CRD call center: +1 (301) 590-6500
  • The NASD home page.
    http://www.nasd.com/

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