Which FINRA Exams Require Sponsorship?

🏢 Which FINRA Exams Require Sponsorship?

If you’re planning to work in the securities industry, it’s important to understand which FINRA exams require firm sponsorship and which do not. Sponsorship means you must be associated with a FINRA-member firm or self-regulatory organization (SRO) before you’re allowed to take the exam.

✅ FINRA Exams That Require Sponsorship

These exams cannot be taken unless a FINRA-member firm files a Form U4 on your behalf:

📈 Series 6 – Investment Company and Variable Contracts Products Representative

For professionals selling mutual funds, variable annuities, and insurance products.

💼 Series 7 – General Securities Representative

Covers a broad range of securities including stocks, bonds, options, and mutual funds.

🧾 Series 22 – Direct Participation Programs Representative

Needed for selling limited partnerships and other DPPs.

🏢 Series 24 – General Securities Principal

Required for supervisors overseeing investment banking and securities business.

📋 Series 9 & 10 – General Securities Sales Supervisor

For supervising options and general securities sales activities.

💳 Series 52 – Municipal Securities Representative

For those dealing with municipal bonds and fund securities.

🏛️ Series 79 – Investment Banking Representative

Required for M&A, equity/debt offerings, and financial advisory work.

🔧 Series 99 – Operations Professional

For individuals handling back-office functions like clearing and settlements.

❌ FINRA Exams That Do Not Require Sponsorship

You can take these exams independently—no firm needed:

📘 SIE – Securities Industry Essentials Exam

Entry-level exam that covers basic industry knowledge. Required before taking other qualification exams like Series 6 or 7.

📊 Series 65 – Investment Adviser Representative

For professionals providing fee-based investment advice. No broker-dealer required.

💼 Series 63 & 66 – State Securities Law Exams

Often required by state regulators for representatives and advisers. Series 66 combines 63 and 65 content for those who already passed Series 7.

📌 Summary

Series 63/66 may require sponsorship in some states depending on local rules.

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