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This question is about stock broker.
What degree do you need to be a stock broker?
There are no specific degree requirements to become a stockbroker; however, most firms prefer candidates with a bachelor's or master's degree in finance, business, economics, or other related subjects.
The competition for stockbroker jobs is fierce, so you want to do anything you can to set yourself apart from your competitors.
In addition to education, you should also seek out internship programs in the field. These also can be quite competitive, so be sure to apply to as many as you can. An internship in the stockbroker industry is a great way to expand your network and even land a job.
To become a stockbroker, you must obtain the proper certifications and licenses, and to do this, you must pass certain examinations. Here are some of the exams you may face:
Securities Industries Essentials exam (SIE). This exam covers general securities industry information, concepts, products, agencies, and practices. Many licenses require the passing of the SIE exam as a corequisite to other license exams.
The SIE exam includes 75 multiple-choice questions. You have one hour and 45 minutes to complete the exam. The FINRA requires a score of at least 70 to pass.
Series 6 exam. This exam is on the functions of investment companies and their contracts. Passing this exam, along with the SIE, qualifies you to sell, solicit, and purchase security products, such as unit investment trusts, mutual funds, variable annuities, municipal fund securities, and variable life insurance.
The Series 6 exam has 50 multiple-choice questions. You have one hour and 30 minutes to complete the exam. The FINRA requires a score of at least 70 to pass.
Series 7 exam. This is a FINRA entry-level exam and assesses your ability to work as a general securities representative.
Passing this exam, and the SIE, allows you to sell, purchase, or solicit all security products, like options, direct participation programs, corporate securities, investment company products, variable contracts, and municipal fund securities.
The Series 7 exam has 125 multiple-choice questions. You have three hours and 45 minutes to complete the exam. The FINRA requires a score of at least 72 to pass.
Depending on the type of stockbroker you want to be, some of these exams will be optional, while others will be required. Other exams you may need or want to pass include the Series 3, Series 63, and the Series 66 exam.
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