Would passing Series 63 exam help me to become a financial analyst?

Answer 1

"If you're planning on becoming a stockbroker or trader of any securities, you'll need to take the Uniform Securities Agent State Law exam, which is also known as the Series 63 exam, and which is given by the National Association of Securities Dealers (NASD) on behalf of the North American Securities Administrators Association (NASAA) . You may have heard this test referred to as the Blue Sky exam. It's a test that will qualify you to trade securities in any state in America-anywhere "under the blue sky"-and not just in your home state. Passing the Series 63 exam is a must in today's market environment, as virtually every brokerage firm in existence does business across state lines and have branches in many cities across America. You'll need to study up on the Uniform Securities Act, which governs interstate trading, as well as rules and regulations concerning soliciting customers and handling their accounts, and the technical definitions of such terms as securities, broker, dealer, agent, etc., record keeping rules, and lawful business practices." (1) In regards to best use of time to your aspiration of Financial Analyst, ideally you should get a BS/BA in a relevant field (ie, finance, accounting, economics). The degree is a prerequisite to the highly regarded CFA designation (Certified Financial Analyst), which in most cases is your ticket to a high paying career in the field. In my opinion, you should attempt to take the most direct route to obtaining this designation while offsetting some if not all of the expenses incurred to do so. In many cases you should be able to land an entry level position, relevant to the field, and (depending on the size and structure of the firm) will partially or totally reimburse you for your expenses incurred while pursuing the CFA designation. Along the way you may be required to pass a Series 6 or 7 exam, however that depends by and large on your firm and the nature of your "intermediary" position with your firm. (1) - http://www.testprepreview.com/series63_test_breakdown.htm, Series 63 Breakdown