What Is A 7 Series License?

Quick Fix Summary
• A Series 7 license = FINRA-registered “General Securities Representative” license.
• You must pass the 125-question, 3 h 45 m exam with ≥72 % and be sponsored by a FINRA member firm.
• Cost: $245 exam fee (often paid by your employer).
• Valid as long as you remain registered with a FINRA member; lapses if you leave the industry for ≥2 years.

So what exactly is a Series 7 license?

It's a FINRA-registered license that lets you sell most securities to both regular and institutional clients.

Officially called the General Securities Representative (GS) qualification, this license lets you buy and sell just about every individual security out there. We're talking stocks, bonds, options, mutual funds, ETFs, and variable annuities. Once you pass, FINRA adds your name to their Central Registration Depository (CRD), which turns you into a “registered representative”—or more commonly, a stockbroker FINRA – Series 7 Overview.

How do people actually get this license?

You need a FINRA member firm to sponsor you, pass the SIE first, then tackle the 125-question Series 7 exam.

Here's the exact process firms follow as of 2026:

Find a sponsor first • You can't just sign up yourself. A FINRA member firm or self-regulatory organization (SRO) has to file Form U4 and cover the exam fee for you FINRA Registration Rules.
Take the SIE if you haven't already • Since 2018, everyone needs to pass the Securities Industry Essentials (SIE) before attempting the Series 7. This test covers the basics—think regulatory agencies, what's not allowed, and simple product knowledge. It costs $80.
Schedule your exam • The test has 125 scored questions plus 10 that don't count toward your score. You get 3 hours and 45 minutes total. • You need 72 % to pass. • Testing centers are run by Prometric or Pearson VUE as of 2026.
Check your results • You'll see your score on screen right after finishing. FINRA emails the official notice within 48 hours.
Get officially registered • Pass? Your firm files Form U4 with FINRA, which registers you and gives you your CRD number.

What if I fail the first time?

FINRA gives you a breakdown of what went wrong, and your firm can re-enter you after 30 days.

Get your diagnostic report – After failing, FINRA sends a section-by-section breakdown. Focus your next study session on the topics where you struggled.
Your firm can sponsor you again – After a 30-day waiting period (for the first retake), your firm can put you back in the system. Wait longer for subsequent attempts FINRA Exam Windows.
Check your SIE expiration date – If you already have another license (like Series 6), your SIE stays valid for four years. Use FINRA’s “exam window calculator” to see your exact deadlines.

How do I keep my Series 7 from disappearing?

You need to complete annual training and avoid a two-year gap in your registration.

Once you've got the license, follow these simple rules to keep it active:

Rule	What to do	Where to check
Annual Training	Finish your Regulatory Element Continuing Education within 120 days of your anniversary date.	FINRA CE Requirements
Firm Element	Your broker-dealer has to provide annual training specific to their business.	FINRA Firm Element
Two-Year Break	If you step away from the industry for two years or more, your Series 7 expires and you'll need to retake the exam.	FINRA Registration Lapse

Save the FINRA CE calendar so your license doesn't quietly expire while you're busy with clients.

Honestly, this is the simplest way to keep your license current—just mark your calendar and get the training done on time.

Contents

So what exactly is a Series 7 license?

How do people actually get this license?

What if I fail the first time?

How do I keep my Series 7 from disappearing?

Related Articles