EDU Articles
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What is the Series 63?
In order to solicit orders for any type of security, a broker or representative must pass the Series 63 examination, in addition to the Series 6 or Series 7.
These tests are administered by FINRA, the financial services industry self-regulatory organization (SRO), and serve as licensing requirements for financial services representatives and management in the field.
The 6 and 7 deal with product and industry knowledge and theory, while the 63 covers state-specific laws and rules, along with an understanding of ethical and fiduciary responsibility. The Series 63 takes only 75 minutes, with 65 multiple choice questions.
An individual must be employed by a FINRA member firm to take the examination.
What is a commodity?
A commodity is usually a raw material or agricultural good with high demand and little price difference between competitors
What is a Lump-Sum Distribution from a 401(k)?
Lump sum distributions are when the entire balance of an account is paid out at once
What is the CAC 40 Index?
The CAC 40 is an index that tracks the 40 largest cap stocks of the 100 listed on the Euronext Paris stock exchange
What is a Market Maker?
A market maker is a broker-dealer firm or a registered individual that will hold a certain number of shares of a...
What is the Federal Open Market Committee?
The Federal Open Market Committee (FOMC) is the monetary policy-making body of the Federal Reserve System
What is Ginnie Mae?
Ginnie Mae brokers mortgage-backed securities which are backed by the full faith and credit of the US Government
What is Accommodative Monetary Policy?
Accommodative monetary policy is when a central bank makes it easier for banks and consumers to borrow money
What is currency substitution?
Currency Substitution is a country whose commerce is partially, or fully, conducted using the currency of another country
What is Form 5405: Repayment of First-Time Homebuyer Credit?
Form 5405 is the filing for those who sell their home or see it destroyed within 36 months of receiving the first...
What is the Three Rising Valleys (Bullish) Pattern?
The Three Rising Valleys pattern forms when three minor Lows arranged along an upward sloping trend line