1: series 62 exam definition
2: how the series 62 exam works
3: series 62 vs series 63
4: example of series 62
Opening information:
Series 62 exam sentence breaks into three words series, 62, and exam. Series means part of the one event, 62 represents one meaning of the matter, and exam means test to qualify someone.
Series 62 exam is a test to qualify someone on specific skills, so now let’s have a look at what is a series 62 exam, how the series 62 exam works in the stock market for all Corporate Industries, and what is the difference between the series 62 and series 63, finally one clear example about the series 62.
1: series 62 exam definition
When comes to paying taxes every small business in the market with registration of government approvals.
Would follow and pay the business tax which means self-employed taxes or if the business had more than 500 employees of private Industries, then it needs to pay normal business tax as per the requirement money from the stated tax laws.
But when comes to Corporate business, the tax is not like normal small businesses or self-employed, its tax benefits might have a huge difference.
Public Corporations are not small businesses which had more than 1000 employees which also benefits their economy hugely based on the profits of the one industry.
Like when comes to corporate securities, like normal private Securities one couldn’t be involved in the activities of Corporate securities, that’s why FINRA formed an exam to qualify and allowed only people to the involved in Corporate securities.
This exam is called a series 62 exam, so now let’s dive into how the series 62 exam works in the public market.
2: how the series 62 exam works
Where series 62 exam represents the Investment professional representative of corporate securities test in the public market. Anyone who wants to trade and is involved in all the Corporate securities must be required to write and pass the series 62 exam.
Series 62 exam is not a basic exam, instead, it’s a more advanced level qualifying test to possess advanced knowledge involving business securities, to write this exam the candidate must finish and pass the SIE exam, which is called securities Industry Essentials (SIE).
The person who couldn’t pass the series 62 exam, couldn’t be involved in the professional activities of trading the Corporation’s shares or bonds.
For this reason small Investors could able to bought and sell Securities in seconds or minutes, but professional investors need to learn and possess lots of rules and responsibilities for selling and buying stocks of corporate securities, they can’t sell and buy Securities within minutes.
So they would have different rules and regulations in the Securities market, that’s why the series 62 exams possess all the professional Investors’ knowledge to not break any Financial Industry Authority (FINRA) rules.
This exam occupied 115 questions with four multiple-choice choices, the candidate must answer at least 81 questions correctly, otherwise, they are considered as fail marks in the series 62 exams.
Series 62 exam would be held for 2 hours and 30 minutes long enough, this time frame would be changeable if the question’s structure and frameworks change.
Using this qualifications series 62 exam would help the candidate get a license and start their investment professional business.
Moreover, any of the Candidate who cheat or fraud on the exams would ruin their career goals and face severe punishments. Most people confuse series 62 and series 63, so let’s jump into the key difference in it.
3: series 62 vs series 63
The difference between series 62 and series 63 is, that series 62 is the one which makes a certain person a Corporate securities representative, if such a representative wants to be any other skilled person he or she must write another exam.
Next series 63 is the exam that represents and qualifies the person as a securities agent to act as a middleman in public. To make you more clear about the series 62 let’s see into one clear example anyway.
4: example of series 62
Say you and your friends wrote an exam related completely to public securities.
You had written an exam about becoming a Corporate securities representative, and your friend is willing to become a Securities agent to act based on the rules of law.
Here you are the one who wrote the series 62 exam and your friend wrote the series 63 exam, because the series 62 exam is the one which occupies Corporate securities qualifications, and at the same time series 63 shows your friend as an agent.