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SIE
The SIE is FINRA's introductory exam. It covers the vocabulary of the securities industry — how markets work, what products exist, how customer accounts are handled, and the basic rules firms must follow. Think of it as the foundation exam: you can study and pass it before you are hired or sponsored by a broker-dealer.
Series 6
The Series 6 qualifies candidates to sell packaged investment products such as mutual funds, variable annuities, and unit investment trusts.
Series 7
The Series 7 is the main qualification for registered representatives — the people who sell and recommend stocks, bonds, mutual funds, options, and other securities through a broker-dealer. It goes much deeper than the SIE on products, suitability, and firm procedures.
Series 65
The Series 65 is a NASAA exam focused on investment adviser law — fiduciary duty, portfolio recommendations, economics, and the regulations that govern registered investment advisers (RIAs) and their representatives (IARs). It does not test product sales mechanics the way the Series 7 does; it tests whether you can legally and ethically advise clients.
Series 66
The Series 66 combines investment adviser law with state securities law in one exam. It is designed for people who already hold (or will hold) a Series 7 and need both broker-dealer and adviser registrations without taking separate Series 63 and Series 65 exams in many states.