The FINRA qualification and registration requirements are set forth in FINRA Rules 1210 through 1240.1 These rules, among other things: (1) require the registration of individuals as representatives or principals; (2) allow for the permissive registration of associated persons of firms; (3) establish a waiver program for individuals working for a financial services industry affiliate of a member firm; (4) require firms to designate a Principal Financial Officer and a Principal Operations Officer; and (5) set forth requirements for registered persons who are to function as princip. A registered representative must register as an equity trader and pass the Series 55 qualification exam prior to trading distressed convertible debt securities (other than on a securities exchange). Exam Restructuring. FINRA Requirements to Maintain a Series 7 License. Amazon.com: finra series 7. There is a current registration fee of $305 for Series 7 tests and a passing score of 72 percent is required. NASD Rule 3010(a)(7) - Annual Compliance Meeting, NASD Rule 1020 Series - Registration of Principals. The prerequisite is the Securities Indu⦠Series 7 licensees are entitled to buy, sell and trade all forms of securities, ranging from stocks and bonds, to options and futures contracts, according to FINRA. Foreign Associates, however, may not perform the functions that require a principal registration. The Series 7 Exam Subreddit is a professional community of Reddit users focused on the passing of the FINRA Series 7 Exam. The following FAQs on FINRA.org pertain to Qualification Exams: FINRA IS A REGISTERED TRADEMARK OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FINRA Seeks Comment on Lessons From the COVID-19 Pandemic, FINRA Requests Comment on a Proposed New Expedited Proceeding Rule for Failures to Comply With the FINRA Qualification Examinations Rules of Conduct and Proposed Amendments to the Registration Requirements Rule and the Eligibility Proceedings Rules, Restructured Qualification Examinations and Related Examination Fees, SEC Approves Consolidated FINRA Registration Rules, Restructured Representative-Level Qualification Examinations and Changes to Continuing Education Requirements Effective Date: October 1, 2018, FINRA Revises the Series 9/10 Examination Program, FINRA Announces Approval of and Implementation Date for Securities Trader and Securities Trader Principal Registration Categories and Related Qualification Examination, Fee and Continuing Education Requirements, FINRA Revises the Series 27 and Series 28 Examination Programs, FINRA Revises the Series 4 Examination Program, FINRA Requests Comment on a Concept Proposal to Restructure the Representative-Level Qualification Examination Program, Changes to Qualification Examination Fees, FINRA Requests Comment on a Proposal to Require Registration of Associated Persons Involved in the Design, Development or Significant Modification of Algorithmic Trading Strategies, Revised Process for Candidates Whose Primary Language Is Not English to Receive Additional Time to Complete a Qualification Examination or Continuing Education Session, FINRA Revises the Series 55 Examination Program, FINRA Surveys to Update the Series 4, 9 and 10 Qualification Examinations, New Criteria and Process for Candidates Whose Primary Language Is Not English to Receive Additional Time to Complete a Qualification Examination or Continuing Education Session, Operations Professional Qualification Examination, Examination Fee and Initial Rollout Period, Changes to Fees for Cancelling or Rescheduling a Qualification Examination or Regulatory Element Continuing Education Session, SEC Approves Operations Professional Registration Category and Consolidated FINRA Continuing Education Rule, FINRA Surveys to Update the Series 6, 16, 24 and 26 Exams, FINRA Requests Comment on Proposed Registration Category, Qualification Examination and Continuing Education Requirements for Operations Professionals, Change for Scheduling Exam and CE Sessions, SEC Approves Rule Change Creating New Limited Representative – Investment Banker Registration Category and Series 79 Investment Banking Exam, FINRA Announces Electronic Filing Process For Qualification Examination Waiver Requests and Series 16 Experience Acceptability Requests Effective Date: January 16, 2009, Proposed Amendments to Qualification Examination Fees in Section 4(c) of Schedule A to the FINRA By-Laws, Acceptability of Series 24 Examination under NYSE Rule 342.13, Revisions to the Series 23, 24, 42, 55, 62, 72 and 82 Examination Programs, Amendments to Section 4 of Schedule A to the NASD By-Laws Governing Continuing Education Regulatory Element and Qualification Examination Fees, NASD Announces Exemption from the Research Analyst Qualification Requirements (Series 86 and 87) for Certain Employees of Foreign Affiliates Who Contribute to Member Research Reports, Revisions to the Series 11 and 55 Examination Programs, NASD Announces Exemption from the Analysis Portion of the Research Analyst Qualification Examination (Series 86) for Certain Applicants Who Prepare Only "Technical Research Reports", NASD Reminds Firms of April 4, 2005, Expiration Date of Grace Period to Meet NASD Research Analyst Qualification and Examination Requirements (Series 86/87), SEC Approves New NASD Qualification Requirements for Supervisors of Research Analysts, Amendments to Section 4 of Schedule A to the NASD By-Laws Governing Qualification Examination Fees, SEC Announces Immediate Effectiveness of Amendments to the Rule 9600 Series Establishing Waiver Subcommittee of the National Adjudicatory Council, Series 22, 27, 28, 39, 55, And 82 Modified, SEC Approves Proposed Rule Change Establishing A New Limited Registration Category For Private Securities Offerings, NASD Announces Interpretation Of NASD Rule 1032(f) Regarding Series 55/Equity Trader Registration Requirement, Deadline Extended For Series 55 Equity Trader Examination To October 1, 2000, Series 7 Examination Fee Increase Effective September 15, 1999, NASD Extends Filing Period For New Equity Trader Examination And Responds To Questions Regarding New Equity Trader Qualification Rule, SEC Approves New NASD Qualification Requirements And Examination For Equity Traders (Series 55), SEC Approves New Qualification Examination For Government Securities Representatives (Series 72) And New Registration Requirements For Registered Options Representatives (Series 42), Chip Jones, FINRA’s Senior Vice President of Member Relations and Education, leads a discussion with John Kalohn, Vice President, Testing & Continuing Education, and Joe McDonald, Senior Director, Qualifications & Exams, about FINRA’s exam restructuring initiative. 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