Top 11 Registered Representative Certifications

Certifications are important for a registered representative in the job market because they demonstrate that the individual has the knowledge and expertise to provide professional advice and services. Certified representatives have been tested on their knowledge of securities regulations and have demonstrated that they are qualified to advise clients on investments. Certification also serves as a signal to employers that the individual is committed to the industry and has taken steps to stay current on the latest industry trends and developments. Additionally, certifications can increase an individual’s salary potential, since many employers are willing to pay more for certified professionals.

The purpose of this article is to review the top certifications for Registered Representatives and explain how they can help advance a registered representative's career.

What are Registered Representative Certifications?

Registered representative certification is an accreditation given to individuals who have successfully completed a program of study and passed a series of examinations administered by the Financial Industry Regulatory Authority (FINRA). FINRA is a nongovernmental organization that regulates the securities industry in the United States. The purpose of registered representative certification is to ensure that individuals working in the securities industry have the necessary knowledge and skills to provide competent advice and services to customers.

Having this certification can help professionals in the securities industry demonstrate their qualifications and value to potential employers or clients. It can also serve as a means of distinguishing between experienced brokers and those with less experience or knowledge. Additionally, it may give brokers access to more advanced training programs, which can help them stay abreast of changing regulations and trends in the financial markets. For example, some firms may only hire certified representatives for certain roles, such as retirement planning or complex investments. Ultimately, having registered representative certification can open up new opportunities for career growth and advancement within the securities industry.

Pro Tip: When considering registering as a representative, be sure to research the requirements in your state or country. Depending on the jurisdiction, you may need to take courses and pass an exam in order to become certified. Additionally, many jurisdictions require that you renew your license periodically.

Related: What does a Registered Representative do?

Top 11 Registered Representative Certifications

Here’s our list of the best certifications available to Registered Representatives today.

1. Series 7: General Securities Representative

Series 7: General Securities Representative is a professional license issued by the Financial Industry Regulatory Authority (FINRA). It allows individuals to engage in activities related to the sale of securities, such as stocks, bonds, mutual funds, and other investment products. To obtain the Series 7 license, individuals must pass a rigorous exam that covers topics such as economic fundamentals, securities regulations, and ethical practices in the securities industry. The exam takes approximately six hours to complete and consists of 250 multiple-choice questions.

In order to be eligible to take the Series 7 exam, applicants must have either four months of qualifying experience with a FINRA member firm or an equivalent combination of education and experience. Additionally, applicants must register with FINRA prior to taking the exam.

The cost for taking the Series 7 exam varies depending on location; however, it typically ranges from $200-$300.

2. Series 6: Investment Company and Variable Contracts Products Representative

Series 6: Investment Company and Variable Contracts Products Representative is a securities license that allows individuals to act as registered representatives of broker-dealers. This license permits individuals to solicit, purchase, and sell mutual funds and variable contracts such as annuities.

It typically takes two months to obtain the Series 6 license. To get the Series 6, applicants must first pass the FINRA (Financial Industry Regulatory Authority) Series 6 exam. The exam covers topics such as investments, securities regulations, taxation, customer accounts, retirement plans, and more. After passing the exam, applicants must register with FINRA in order to become a registered representative of a broker-dealer.

The cost of obtaining the Series 6 varies depending on where you take the exam and how much preparation you do beforehand. Generally speaking, it costs around $200-$300 for materials and registration fees for taking the exam.

3. Series 63: Uniform Securities Agent State Law Examination

Series 63, also known as the Uniform Securities Agent State Law Examination, is a securities licensing exam administered by the Financial Industry Regulatory Authority (FINRA). It is designed to assess an individual's knowledge of state securities laws and regulations. The exam consists of 65 multiple-choice questions and must be completed within 75 minutes.

To obtain the Series 63 license, individuals must first apply for membership with FINRA and then register for the exam. The cost of taking the exam varies depending on the state in which you are taking it, but typically ranges between $50-$100. Once you have passed the exam, you will receive your license from FINRA.

The Series 63 license is required in order to act as a securities agent in most states. In addition to passing this exam, individuals must also pass either the Series 7 or Series 66 exams in order to become registered representatives or investment advisors.

4. Series 65: Uniform Investment Adviser Law Examination

Series 65: Uniform Investment Adviser Law Examination is a North American Securities Administrators Association (NASAA) administered exam that tests the competency of an individual who wishes to become an investment adviser representative. This exam is also known as the NASAA Investment Adviser Representative Examination. The test covers topics such as securities laws, regulations, and ethical practices related to providing advice on investments.

The exam consists of 150 multiple-choice questions and takes approximately 3 hours to complete. The cost of the exam varies by state but typically ranges from $125-$175. In order to take the Series 65 exam, you must first meet certain eligibility requirements in your state and then register with a testing center. Once registered, you will receive study materials and be able to schedule your exam date. After passing the exam, you must then apply for registration with your state's securities regulator in order to become an investment adviser representative.

5. Series 66: Combined Uniform Securities Agent and Investment Adviser Law Examination

Series 66 is a combined securities agent and investment adviser law examination administered by FINRA. It is designed to test the competency of individuals who wish to act as securities agents and/or investment advisers. The exam consists of two parts: the Uniform Securities Agent State Law Examination (Series 63) and the Uniform Investment Adviser Law Examination (Series 65). The Series 66 combines both exams into one, making it easier for those who wish to become both a securities agent and an investment adviser.

The Series 66 exam takes approximately 3 hours to complete, with 110 multiple-choice questions. To take the exam, you must first register with FINRA and pay a fee of $155. You can find more information on registering for the Series 66 on FINRA's website.

Once you have registered for the exam, you will need to prepare for it by studying relevant materials such as textbooks or online study guides. After passing the exam, you will receive your license which allows you to practice as a securities agent or investment adviser in most states.

6. Series 24: General Securities Principal

Series 24: General Securities Principal is a professional license issued by the Financial Industry Regulatory Authority (FINRA). It allows individuals to supervise and manage the activities of broker-dealers, including sales personnel. This license also allows individuals to act as a general securities principal, which means they can approve new accounts and transactions, as well as review customer complaints and investigate potential violations of securities laws.

It typically takes four to six months to complete the Series 24 exam. The cost of taking the exam varies depending on where you take it, but typically ranges from $200 - $500. To be eligible for the Series 24 exam, you must have at least four years of experience in a related field such as investment banking or securities law. You must also pass a background check and be sponsored by an existing FINRA member firm.

7. Series 52: Municipal Securities Representative

Series 52: Municipal Securities Representative is a professional designation that is awarded by the Financial Industry Regulatory Authority (FINRA). It certifies that an individual has passed the Series 52 exam and has demonstrated a comprehensive understanding of municipal securities rules and regulations.

The Series 52 exam covers topics such as disclosure requirements, underwriting procedures, and customer protection. It takes approximately two hours to complete the exam and consists of multiple-choice questions. The cost of taking the Series 52 exam is $125.

In order to become a Municipal Securities Representative, individuals must first register with FINRA and then apply for the Series 52 exam. To be eligible, applicants must have at least four months of qualifying experience in municipal securities activities or have successfully completed an approved training program.

8. Series 79: Investment Banking Representative

Series 79 is a licensing exam administered by the Financial Industry Regulatory Authority (FINRA) to test the knowledge and skills of investment banking representatives. The Series 79 exam covers topics such as corporate finance, securities law, financial analysis, and other related topics. It is a two-hour multiple-choice exam with 125 questions.

In order to become an investment banking representative, you must pass the Series 79 exam. You must be sponsored by a FINRA member firm in order to take the exam. The cost of taking the Series 79 exam varies depending on your state and can range from $125-$195.

The best way to prepare for the Series 79 exam is to take a comprehensive course that covers all of the material covered on the exam. These courses typically last anywhere from two weeks to four months and can cost anywhere from $500-$2,000 depending on which course you choose.

9. Series 82: Private Securities Offerings Representative

Series 82 is a designation given by the Financial Industry Regulatory Authority (FINRA) to individuals who act as registered representatives for private securities offerings. To obtain this designation, an individual must pass the Series 82 exam and complete a Form U-4 registration form with FINRA. The exam covers topics such as securities regulations, private placement rules and regulations, and due diligence requirements. It typically takes two to three weeks to receive the results of the exam.

The cost of taking the Series 82 exam varies depending on where it is taken and which testing provider is used. Generally, the cost ranges from $125 to $250 plus any applicable taxes or fees. Additionally, there may be additional costs associated with obtaining the Form U-4 registration form with FINRA.

10. Series 99: Operations Professional

Series 99: Operations Professional is a certification that demonstrates an individual’s knowledge and expertise in the securities industry. It is designed to help individuals develop the skills necessary to become successful operations professionals. The certification requires passing a two-hour exam, which consists of 100 multiple-choice questions. To be eligible for the exam, applicants must have at least three years of experience in the securities industry or have completed a college degree program related to finance or investments.

The exam fee is $125 and can be paid online or by mail. The exam itself can take up to two hours to complete, and results are typically available within one week after taking the test. Once you pass the exam, you will receive a certificate from FINRA (Financial Industry Regulatory Authority) and will be listed on their website as an Operations Professional.

11. FINRA Certified Regulatory and Compliance Professional (CRCP)

FINRA Certified Regulatory and Compliance Professional (CRCP) is a professional certification that demonstrates a person’s knowledge and proficiency in the areas of securities regulation, compliance, and risk management. It is designed to help individuals demonstrate their commitment to the financial services industry and their ability to effectively manage regulatory requirements. The certification is offered by the Financial Industry Regulatory Authority (FINRA).

The CRCP program requires applicants to have at least three years of experience in the securities industry, including at least one year of experience in a supervisory role. Applicants must also pass an exam consisting of multiple-choice questions covering topics such as FINRA rules, regulations, and practices; customer protection; anti-money laundering; sales practices; ethics; and other related topics.

The exam takes approximately four hours to complete and can be taken either online or in person at a testing center. The cost of taking the exam is $150 for FINRA members or $300 for non-members.

Do You Really Need a Registered Representative Certificate?

When it comes to deciding whether or not you need a registered representative certificate, the answer depends on your career goals. If you are looking to work in the financial services industry, then a registered representative certificate is likely necessary. This certificate is required for anyone who wants to provide financial advice, sell securities, and interact with customers in the financial services sector.

If you are interested in working as a broker or financial advisor, then having a registered representative certificate is essential. The certification will demonstrate your knowledge of finance and investment products and ensure that you are capable of providing sound advice to clients. It also demonstrates that you have undergone significant training and education that is specific to the securities industry.

In addition to being required for certain positions in the financial services industry, having a registered representative certificate can open up more job opportunities. Employers will be more likely to hire someone who has taken the time to become certified and demonstrate their knowledge of investments and securities laws than someone without this certification.

Overall, if you are looking for employment in the financial services industry then having a registered representative certificate can be beneficial both professionally and personally. It will give you an edge when applying for jobs as well as show potential employers that you have gone above and beyond what is expected of them. In short, having a registered representative certificate can be invaluable in helping you land your dream job in the finance sector.

Related: Registered Representative Resume Examples

FAQs About Registered Representative Certifications

1. What is a Registered Representative Certification?

Answer: A Registered Representative Certification is a professional certification that allows individuals to buy and sell securities on behalf of clients. It requires passing an exam administered by the Financial Industry Regulatory Authority (FINRA).

2. What qualifications do I need to become a Registered Representative?

Answer: To become a Registered Representative, you must have at least a high school diploma or GED and pass the FINRA Series 7 exam. You must also complete additional training, such as the Series 63 or 66 exams, depending on which type of security transactions you plan to perform.

3. How long does it take to get my Registered Representative Certification?

Answer: The length of time it takes to get your certification depends on how quickly you complete the necessary training and exams, but typically it can be done in 3-6 months if you are diligent with your studies.

4. How much does it cost to become a Registered Representative?

Answer: The cost for taking the FINRA Series 7 exam is $305 plus any additional fees associated with any other required exams such as the Series 63 or 66 exams. There may also be additional fees associated with registering with FINRA and completing certain continuing education requirements.

5. What are some benefits of being a Registered Representative?

Answer: As a Registered Representative, you will have access to many career opportunities in the financial services industry and may be able to earn higher salaries than those who do not have this certification. Additionally, having this certification demonstrates that you have expertise in securities transactions and can help boost your credibility when working with clients or employers.