Series 6 vs Series 7: Which License Should You Get?
The Series 6 is a limited securities representative license — it lets you sell mainly packaged products like mutual funds and variable annuities. The Series 7 is the full general securities representative license, covering most products. Both require you to pass the SIE first and to be sponsored by a FINRA member firm. Choose based on what your job will actually have you sell.
Series 6 vs Series 7 at a glance
| Series 6 | Series 7 | |
|---|---|---|
| Scope | Limited — packaged investment products only | Broad — most securities |
| What you can sell | Mutual funds, variable annuities and similar packaged products | Stocks, bonds, options, mutual funds, and most other securities |
| Best for | Roles focused on packaged products (e.g. some bank and insurance reps) | Full-service brokers and many financial advisors |
| Prerequisite | Pass the SIE | Pass the SIE |
| Sponsorship | Required (FINRA member firm) | Required (FINRA member firm) |
| Scored questions | See FINRA | 125 |
| Time | See FINRA | 3 hours 45 minutes |
| Passing score | See FINRA | 72 |
| Exam fee | See FINRA | $395 |
We only publish exam specifics we've verified against FINRA. The verified Series 7 figures are shown above; for current Series 6 details, check FINRA's exam pages.
What is the Series 6?
The Series 6 is a limited registered representative license. It authorizes you to sell a specific, narrower set of packaged investment products — primarily mutual funds and variable annuities (and similar pooled or insurance-linked products) — rather than the full universe of securities. It's commonly held by representatives at banks and insurance-affiliated firms whose role centers on those products. Like every representative license, it sits on top of the SIE and requires firm sponsorship.
What is the Series 7?
The Series 7 is the General Securities Representative license — the broad, full-scope credential. It covers most securities, including stocks, bonds, options, and mutual funds, which is why it's the standard license for full-service brokers and many financial advisors. It's a longer, more demanding exam: 125 questions over 3 hours 45 minutes, with a passing score of 72 and a $395 fee. It requires a passing SIE and sponsorship by a FINRA member firm.
Which should you take?
It comes down to your job, not to which license is "higher." If your role is built around packaged products — many bank and insurance representative positions — the Series 6 may be all you need. If you'll be selling a full range of securities, or you want the flexibility to, the Series 7 is the broader choice and the one most advisory and brokerage roles expect. The best move is simple: ask the firm hiring you which registration the position requires, since the firm sponsors the exam either way.
Why you take the SIE first
Step 1: Pass the SIE. Both the Series 6 and the Series 7 are built on the same foundation — the Securities Industry Essentials (SIE) exam. And the SIE is the one piece you don't have to wait for: anyone 18 or older can take it, no sponsorship required, for a $100 fee. Passing it early is the clearest way to show employers you're ready, and it's the same base whether you end up on the Series 6 or Series 7 track. Start there and the next exam — whichever it is — gets far more manageable.