|
Uniform Combined State Law Exam
The Uniform Combined State Law Examination also called the Series 66 exam is designed to qualify candidates as both securities agents and investment adviser representatives in the United States. It was developed by North American Securities Administrators Association (NASAA) and operated by the Financial Industry Regulatory Authority (FINRA). The Uniform Combined State Law Examination consists of 100 multiple-choice questions and 10 pretest questions. Applicants are allowed 2½ hours (150 minutes) to complete the examination. The examination is conducted as a closed-book test. Upon completion of the examination, the score for each section and the overall test score will be processed by Financial Industry Regulatory Authority headquarters and made available to the candidate's sponsor. A score of at least 73% on the Series 66 exam is needed to pass and become eligible for registration as a Registered Investment Adviser Representative. Prior to July 1, 2016, candidates had to attain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than Equity (finance), equity and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., Warrant (finance), equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic (Dematerialization (securities), dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Adviser
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice. Relationships between clients and financial advisors can be characterized by principal-agent problems, as financial advisors may possess information and conflicts of interest that lead to dishonest advice and misconduct. Role Financial advisers typically provide financial products and services, depending on the qualification examinations they hold and the training they have. Financial advisers are registered, not licensed. For example, a licensed insurance agent may be qualified to sell both life insurance and variable annuities, because the insurance agent holds an insurance license and holds the Series 7 qualification examination. A broker (Series 7) may also be a financial planner. Any advisor can say ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North American Securities Administrators Association
The North American Securities Administrators Association (NASAA), founded in Kansas in 1919, is the oldest international investor protection organization. NASAA is an association of state securities administrators who are charged with the responsibility to protect consumers who purchase securities or investment advice. NASAA's membership consists of 67 administrators from the territories, districts, and states of the United States, from Mexico, and from the provinces of Canada. In the United States, NASAA is the voice of state securities agencies responsible for efficient capital formation and grassroots investor protection. NASAA's fundamental mission is protecting consumers who purchase securities or investment advice, and its jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public. Through the association, NASAA members participate in multi-state enforcement actions and information sharing. NASAA also coordinates an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as to the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC). Overview The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. As of October 2023, FINRA oversaw 3,394 brokerage firms, 149,887 branch offices and approximately 612,457 registered securities representatives. FINRA ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Securities Representative Examination
In the United States, the Series 7 exam, also known as the General Securities Representative Exam (GSRE), is a test for entry-level registered representatives, that demonstrates competency to buy or sell security products such as corporate securities, municipal securities, options, direct participation programs, investment company products, and variable contracts. The Series 7 is administered by the Financial Industry Regulatory Authority (FINRA), an industry regulatory agency. The Series 7 exam ensures a baseline level of proficiency for individuals starting their careers in the financial industry. It is particularly important for newly hired personnel who may lack prior exposure to finance-related subjects during their university education. Passing the Series 7 exam is often a requirement for other FINRA exams, including those related to options trading and managerial roles. Permitted activities A candidate who passes the Series 7 exam is qualified for the solicitation, purc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Series 63
The Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by North American Securities Administrators Association (NASAA) and is administered by the Financial Industry Regulatory Authority (FINRA). The examination is designed to qualify candidates as securities agents in the United States; nearly all states require individuals to pass the Series 63 as a condition of state registration. The Uniform Securities Agent State Law Examination consists of 65 multiple-choice questions. Applicants are allowed 75 minutes to complete the examination. Applicants must attain scores of 72% in order to pass. Credit is only given for correct answers. Of the 65 questions on the exam, 60 will count toward the final score. The remaining 5 questions are being pre-tested for possible inclusion in the operational question bank; these questions may appear anywhere in the exam and are not identified. The examination covers the principles of state securities r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Securities Law
Securities regulation in the United States is the field of Law of the United States, U.S. law that covers transactions and other dealings with Security (finance), securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of Stock exchange, exchanges like the New York Stock Exchange and rules of self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA). On the federal level, the primary securities regulator is the U.S. Securities and Exchange Commission, Securities and Exchange Commission (SEC). Futures contract, Futures and some aspects of Derivative (finance), derivatives are regulated by the Commodity Futures Trading Commission (CFTC). Understanding and complying with security regulation helps businesses avoid litigation with the SEC, state security commissioners, and private parties. Failing to comply can even result in crimi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional Certification In Finance
Following is a partial list of professional certifications in financial services, with an overview of the educational and continuing requirements for each; see and :Professional certification in finance for all articles. As the field of finance has increased in complexity in recent years, the number of available designations has grown, and, correspondingly, some will have more recognition than others.Ernest N. Biktimirov (2012)Global Alphabet Soup: Internationally Recognized Professional Designations in Finance ''Journal of Financial Education'' 38 (3/4), Fall/Winter 2012, 18-32The Rise of the Chief Risk Officer '' |
