Series 7 vs Series 66, Which is Harder to Obtain?
As a Securities license and as a Financial Certification, comparing the Series 7 vs Series 66 is a very smart thing to do, in that these are two very similar, yet at the same time also vastly different licenses, in terms of their difficulty and how one should study for them. The Series 7 license is typically thought of your general representative license, it is the first exam that makes you a “broker,” and it is the first real test that you will have on your way up the ladder in the securities industry. The Series 7 is the first time that you will get listed on Broker Check, it allows you to place trades, and it is something of a very difficult exam, with a 500 page book standing in your way towards passing the exam. I would say that the Series 7 is about 5 times harder than the SIE, and that the Series 66 is about 2-3 times harder than the Series 7 exam is. The reason the 66 is so much harder is that it is almost ALL legal regulations, it is extremely boring, and for awhile it is going to make almost no sense. In this blog post, I will give you my experience with each one of these exams, and I will give you some of my best tips and strategies for passing the Series 7 and 66. Read on or subscribe to our blog for additional details and information.
Among the other top securities licenses and certifications within the field include the following:
The CFP License
The CPA License
The CLU Certification
The Series 7
The Series 66
The Series 3
The Series 31
The CIMA Certification
The CFA Exam
Getting an MBA
And much more, read on or subscribe to our blog for additional details and information.
The Series 7 vs Series 66 Debate, Which is a Harder Exam?
My money in this debate is on the Series 66, for a few reasons. Aside from being much denser content, there is almost no math. Which means there is not as much logic and understanding to this exam, and instead you will have to put your mind to learning and understanding the securities law found within the textbook instead. With the Series 7 book, you have an “out” so to speak, in that if you have something of a finance background, then it will be significantly easier for you to pass. In either case with these exams however, the same principle holds true, read the book cover to cover, keep taking practice exams until you are scoring in the 80% to 85% range consistently, and then show up and take the exam, you have no choice but to pass the exam at this point.
How to Pass the Series 7 Exam
For passing the series 7 Exam, I can give you a couple of words of advice. First off, read the book cover to cover, and then go back and re-read the chapters on Mutual Funds, Suitability, Options, and Municipal Bonds. If you have the 4 of those concepts absolutely down packed, then you will most definitely pass the exam on your first shot. Get the options down especially well, those are easy points on the test if you know them really well.
How to Pass the Series 66 Exam
Passing the Series 66 is honestly a different animal entirely, and my advice for the difficult chapters of the Series 66, which would be the first 7 or 8 chapters, is to write out every single definition in the chapters line by line so that you can better grasp what you are reading. Studying the the Series 66 should be treated like you are studying for an exam in Law School, because that it essentially what you are doing. It is a massive textbook of securities law and legal jargon, and my recommendation is to write out as much as possible for the exam in order to have it sink in better.
Series 7 vs Series 66, And Why The Series 66 Exam is Much Harder Overall
And so, that is my diagnosis of the Series 7 vs the Series 66 exam, and of how you should approach each one, at least from a 30,000 foot view. For more detailed information on these licenses, and for other popular securities licenses, stay tuned where I will go much more in depth on all licenses in the Securities industry. Till next time, you heard it first, right here at Inflation Hedging.com.
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