If you are looking to build a career in financial services, you are likely familiar with the Series 6 and Series 63 exams. Both are common entry points for professionals who want to sell securities, but they cover very different areas. Many firms require you to hold both licenses before you can get started with clients. So, what is the difference between the two, and why do they complement each other?
What is the Series 6 Exam?
The Series 6 exam, formally called the Investment Company and Variable Contracts Products Representative Qualification Exam, is administered by FINRA. It qualifies you to sell:
- Mutual funds
- Variable annuities
- Unit investment trusts (UITs)
- Variable life insurance products
The Series 6 focuses on packaged investment products. It does not allow you to sell individual stocks or bonds, which would require the Series 7.
The Series 6 exam consists of 50 scored questions with a time limit of 90 minutes. To pass, you need a score of at least 70%. Most candidates dedicate around 40–60 hours of exam prep before testing.
What is the Series 63 Exam?
The Series 63 exam, also known as the Uniform Securities Agent State Law Exam, is developed by NASAA and administered by FINRA. Unlike the Series 6, it does not focus on product knowledge. Instead, it tests your understanding of:
- State securities laws and regulations
- Fiduciary obligations
- Ethical business practices
- The Uniform Securities Act
The Series 63 is required by most states for anyone who wants to solicit orders for securities. It is often taken alongside either the Series 6 or Series 7 to fully qualify a professional to conduct business.
The Series 63 exam includes 60 scored questions plus 5 unscored, with a time limit of 75 minutes. A passing score is 72%. Candidates generally spend about 20–30 hours studying.
Series 6 vs Series 63 Key Differences
While both exams are essential for many securities professionals, they serve very different purposes:
| Series 6 | Series 63 |
| Focuses on investment products like mutual funds, annuities, UITs, and variable life insurance | Focuses on state laws, regulations, fiduciary standards, and ethical practices |
| Qualifies you to sell specific securities | Qualifies you to solicit orders for securities within a state |
| Administered by FINRA | Written by NASAA and administered by FINRA |
| 50 scored questions, 90 minutes | 60 scored questions, 75 minutes |
| Requires about 40–60 hours of prep | Requires about 20–30 hours of prep |
Why You Need Both
Most firms will require you to hold both the Series 6 and the Series 63 licenses to work with clients. Here’s why:
- Series 6 by itself is limited. It allows you to sell certain packaged products, but in most states you cannot legally solicit those sales without also passing the Series 63.
- Series 63 on its own is incomplete. It qualifies you to transact in securities under state law, but without a product license like the Series 6, you cannot recommend or sell investment products.
- Together, they give you full licensing power. Holding both licenses authorizes you to solicit, recommend, and sell a wide range of securities products to clients, especially in the insurance and investment sectors.
Think of the Series 6 as your “what” license (the products you can sell) and the Series 63 as your “where and how” license (the state rules that govern how you sell them).
How to Prepare for the Series 6 and Series 63
- Start with a structured study plan that includes reading, practice questions, and simulated exams.
- Use Series 6 and Series 63 practice exams to measure progress and build confidence before test day.
- Dedicate consistent study time. Many candidates complete both exams within 2–3 months if they study regularly.
Series 6 Prep | Series 66 Exam Prep
Why Both Exams Matter for Your Career
Most finance professionals will not be choosing between the Series 6 and Series 63 but earning both to begin their careers. The Series 6 provides the knowledge needed to sell key investment products, while the Series 63 ensures you understand the state laws and ethical responsibilities that guide those transactions. Taken together, the two create a strong foundation for success in client-facing roles within the financial services industry.
If you are ready to begin, focus on top-rated exam prep and practice exams to set yourself up for success the first time.
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