What is a series 11?
In the United States, Many 11 relate to a specific type of security license that a business assistant must have before he can receive orders of customer security that have not been required. In order to grant such an authority, series 11 must be carried out and approved with a satisfactory score. After the Person of the Regulatory Authority was licensed by the Regulatory Office of the Tax Industry (FINRA), it is able to work under supervision and helps the licensed broker organized by the 7 series license. With this license, the person can also undergo, under the proper supervision of input orders in Posted, select or instinet systems used by brokerage to automatically carry out shops.
In order to carry out a license test, the individual must be sponsored by a qualified broker of securities or seller. Thzkaka e Series 11 involves a wide range of topics to properly assess ZNallocation of sales assistant in key financial areas. Such topics include bond concepts, various types of securities and option contracts. The preparation for the test takes approximately six weeks if a person studies for an average of two hours each day. The actual test takes approximately one hour and consists of 50 questions with selection.
The 11 series holder does not have to offer investment or financial advice, nor can it offer recommendations on security transactions. This person is also forbidden to request new accounts for her company. In order to fulfill these obligations, additional licenses such as series 7 are required.
As an assistant, the obligations of the Licensee 11 are strictly included in the specific, albeit specialized, administrative tasks. The salaries of these specialized assistants may vary, but all are paid either by an hour or according to a predetermined salary. FlagCentral license of series 11 does not repair an assistant to pay any form of commission or additional compensation.
The official title to the Licensee 11 is a drink of representatives for order processing. All security licenses, including series 3, series 6, series 7, series 27 and 63 series, apply to different securities positions. Each of them is subject to laws and regulations stipulated by the Securities Commission. License holders are further regulated by the regulatory body of the financial industry, which oversees any securities company that actively operates in the United States.