FINRA Licenses Explained: The Full List (Starting With the SIE)

If you're trying to break into the securities industry, the alphabet soup of "Series" exams is confusing on purpose-sounding — but the structure is actually simple. There's one exam almost everyone takes first, and then a set of license exams tied to specific jobs and products. This page lays out the full list in plain English, what each license is for, and where to begin.

What are FINRA licenses?

FINRA — the Financial Industry Regulatory Authority — is the self-regulatory organization that oversees broker-dealers in the United States. To sell securities or work in many client-facing roles at a brokerage, you generally have to pass one or more FINRA qualification exams. Passing an exam and being registered through a firm is what people informally call "getting your license."

The exams fall into two broad buckets:

• The SIE (entry-level) — a single foundational exam that tests general industry knowledge. It doesn't, on its own, let you transact business, but it's the gateway to nearly everything else.
• Representative-level exams (the "Series" exams) — role-specific licenses such as the Series 6, 7, 63, 65 and 66. These qualify you to do particular kinds of work (for example, selling mutual funds, or operating as a general securities representative).

There are also higher principal-level exams for supervisors and managers, but most people entering the field deal with the SIE and one representative exam first.

The SIE — where everyone starts

The Securities Industry Essentials (SIE) exam is the entry point to the whole system, and it's deliberately accessible. You don't need a job, a degree, or any sponsorship to take it. Anyone 18 or older can register directly with FINRA, pay the $100 fee, and sit the exam at a Prometric test center or via online proctoring from home. That's what makes it different from almost every other license on this page: you can earn it before anyone hires you, which is exactly why it's a smart first move for students and career-changers.

The SIE covers foundational knowledge — types of products and their risks, the basics of capital markets, customer accounts and prohibited practices, and the regulatory framework. It's broad rather than deep. Once you pass, your result stays valid for four years, giving you a window to land a role and add a representative license. For the full breakdown of format, cost, and what's tested, see our SIE exam guide and the SIE requirements page.

Step 1: Pass the SIE

No matter which finance career you're aiming at, the practical first step is almost always the same: pass the SIE. It's the one credential on this list you can go get today, on your own schedule, without permission from an employer — 18 or older, no sponsor required, $100 to register. Clearing it early means that when a firm is ready to hire you, you've already removed the most common gating requirement, and you can move straight to the representative exam your role needs. Start by learning what the SIE covers, or just begin practicing real questions now.

Series 6, 7, 63, 65 and 66 explained

Once you've passed the SIE, the representative-level exam you take depends on the job. Here's what each of the common ones is for, at a high level. (Specific requirements vary and can change — always confirm current details for any given exam with FINRA before you commit.)

• Series 6 — Investment Company and Variable Contracts Representative. Geared toward people who sell packaged investment products like mutual funds and variable annuities. Common for roles at banks, insurance companies, and firms whose product menu is limited to these packaged products rather than individual stocks and bonds.
• Series 7 — General Securities Representative. The broad, classic "stockbroker" license. It qualifies a representative to sell a wide range of securities products — equities, bonds, options, packaged products and more — which is why it's the standard license for full-service brokerage and many wealth-management roles. Like other representative exams, the Series 7 requires you to pass the SIE first and to be sponsored by a FINRA-member firm.
• Series 63 — Uniform Securities Agent State Law Exam. A state-law (blue sky) exam administered by FINRA on behalf of NASAA. It's about state-level rules and registration for agents, and is frequently taken alongside a representative license like the Series 6 or Series 7 so an agent can do business across states.
• Series 65 — Uniform Investment Adviser Law Exam. Oriented toward people acting as investment adviser representatives — that is, professionals who give investment advice for a fee rather than (or in addition to) earning commissions on transactions. It's a common path for fee-based advisers and financial planners.
• Series 66 — Uniform Combined State Law Exam. Essentially combines the ground covered by the 63 and 65 into a single state-law exam, intended for people who will be both a securities agent and an investment adviser representative. It's typically taken together with the Series 7.

Which FINRA license do you need?

The honest answer is that your employer and your role decide — but here's a rough map of how the pieces tend to line up by the kind of work you want:

• Sell mutual funds & annuities at a bank or insurer → typically the SIE + Series 6, often with a state-law exam (Series 63).
• Be a full-service broker selling a broad product range → typically the SIE + Series 7, usually paired with a state-law exam (Series 63 or Series 66).
• Give fee-based investment advice / financial planning → often the Series 65 (or Series 66 alongside the Series 7).
• Not hired yet / still exploring → start with the SIE. It's the only one you can take without a sponsor, and it counts toward almost every path above.

For a closer look at how two of the most common reps stack up, see Series 6 vs Series 7, or the broader overview of licenses a financial advisor may need. Employment outcomes depend on hiring, firm requirements and many other factors — passing exams is a step toward a role, not a guarantee of one.

How to start

You don't need to map out your entire licensing journey before you act. The fastest, lowest-friction move is to clear the one exam that opens all the doors:

• Take the SIE first — it's the only FINRA exam you can take without an employer or sponsor, so you can start right now.
• Then match the representative exam to the job — once you're hired and sponsored, your firm tells you whether it's a Series 6, 7, or another, and you focus your prep there.
• Layer in state-law exams as needed — the Series 63, 65 or 66 usually come alongside a representative license depending on your role.

If you want the complete on-ramp — what the SIE is, what it costs, and how to register — start with our SIE prep hub.