Frequently Asked Questions
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What does the Series 62 qualify me to do?
The Series 62 license qualifies you as a representative for the sale of public offerings and/or private placements of corporate stocks, corporate bonds, rights, warrants, real estate investment trusts, collateralized mortgage obligations, and securities of closed-end companies registered pursuant to the Investment Company Act of 1940, repos and certificates of accrual on corporate securities; securities traders; mergers and acquisitions; venture capital; corporate financing; ETFs and hedge funds.
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What score do I need to pass the exam?
A score of 70% is required for passing.
Note: Scores are rounded down to the lowest whole number, so a 69.9% would be a final score of 69%-- not a passing score for the Series 62 Exam.
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How many questions are on the exam?
There are 115 scored and 5 unscored questions. These 5 unscored questions are randomly distributed so test-takers do not know which ones they are. The unscored questions are being tried out by the exam committee.
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How long is the exam?
Two and half hours.You are allowed to take restroom breaks during the exam; however, the clock will continue counting down. Please contact your preferred testing center for additional information.
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How do I register to take the Series 62?
To take the Series 62, a FINRA member firm must file a Form U4 application on your behalf through FINRA’s Central Registration Depository (CRD). There are no prerequisites to take the Series 62; however, you will have to get fingerprinted and answer a lengthy set of questions about your background.
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How much does the exam cost?
The cost of the exam is $95 at this writing.
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If I stop working for my firm, how long will my Series 62 license remain active?
You will have two years between jobs before the license expires.
When you cease working for a firm, your employer will file a Form U5 to terminate your registration. Your next employer will file a Form U4, which will re-register you. As long as you do not exceed two years between employers, your Series 62 license will remain active.
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How long should I prepare for this exam?
We recommend studying 80 hours over a four-week period.