Securities Exam Costs: SIE, Series 6, 7, 63, 65 and 66 Fees

8/22/2026

The cost of getting securities licensed is easy to underestimate. Candidates look up the Series 7 fee, budget for it, and then discover that the Series 7 is one of three exams they need, that a late reschedule costs money, and that a failed attempt means paying the full fee again.

This guide puts the current exam fees for the SIE, Series 6, Series 7, Series 63, Series 65 and Series 66 in one table, adds up what the common license paths cost, explains who usually pays in a bank or broker-dealer setting, and covers retakes, reschedules and the other costs around the exams themselves.

Exam Fees at a Glance

The fees below are the amounts FINRA lists on each exam's page as of October 2026. FINRA collects the fee for its own exams and administers the NASAA state law exams, whose fees are also published by NASAA. Fees change, and FINRA raised several of its exam fees for 2026, so confirm the current amount on FINRA's exam page before you budget.

Exam	Administered for	Fee per attempt	Sponsor needed?
SIE (Securities Industry Essentials)	FINRA	$100	No (open to anyone 18+)
Series 6 (Investment Company and Variable Contracts Products Representative)	FINRA	$100	Yes
Series 7 (General Securities Representative)	FINRA	$395	Yes
Series 63 (Uniform Securities Agent State Law)	NASAA	$147	No prerequisite
Series 65 (Uniform Investment Adviser Law)	NASAA	$187	No prerequisite
Series 66 (Uniform Combined State Law)	NASAA	$177	Series 7 corequisite

A few points about reading this table.

Every fee is per attempt. If you fail, you pay again. There is no discount for a retake.

The SIE is the only FINRA exam above that you can take without a sponsor. The Series 6 and Series 7 are top-off exams that require association with and sponsorship by a member firm. The NASAA exams have no prerequisite exam requirement apart from the Series 66, which requires the Series 7 as a corequisite, and NASAA says candidates who are not affiliated with a firm can open an enrollment window through FINRA's Test Enrollment Services System.

The table covers exam fees only. Prep materials, registration fees and other costs are separate and discussed below.

What the Common License Paths Cost

Most people do not take one exam. They take a combination that matches their role. Adding up the exam fees from the table gives the following minimum totals for a first-attempt pass on every exam:

Path	Exams	Exam fees total
Bank platform representative selling funds and annuities	SIE + Series 6 + Series 63	$347
General securities representative	SIE + Series 7 + Series 63	$642
Representative who is also an investment adviser representative	SIE + Series 7 + Series 66	$672
Investment adviser representative only	Series 65	$187
State agent and adviser exams taken separately	Series 63 + Series 65	$334

Two observations.

The Series 66 route is close in cost to the Series 63 route for someone who already holds the Series 7: $672 against $642. For a representative who will also give fee-based advice, the Series 66 replaces taking both the 63 and 65, which would cost $334 in state exam fees rather than $177.

The Series 6 path costs roughly half as much in exam fees as the Series 7 path. That is not a reason to choose it, because the license must match the role, but for a bank program that sells only packaged products it is the right license and the cheaper one.

Our post on securities licensing for bankers explains which bank roles need which of these paths.

Who Usually Pays

The SIE: usually the candidate

Because the SIE requires no sponsor, candidates who take it on their own usually pay for it themselves. That includes bank employees considering a move to the investment side and graduates looking for a first role. Some banks and broker-dealers reimburse the SIE fee for employees they are moving into an investment program, or for new hires who passed it shortly before joining, so ask before you pay if you already have a conversation underway.

Top-off exams: usually the sponsoring firm

The Series 6 and Series 7 can only be taken by someone a member firm has sponsored, so the firm is involved from the start. It is common for the sponsoring firm to pay the exam fee for an employee it needs registered, and often for prep materials too. Practices vary, though. Some firms pay only for the first attempt, some require repayment if the employee leaves within a set period, and some pay only on a pass. Read the policy before you sit the exam.

State exams: usually the firm, when the role requires them

When the Series 63 or 66 is part of the registration the firm needs, the firm usually covers it on the same basis as the top-off. Candidates who take the Series 65 on their own initiative, outside a firm, pay for it themselves.

What bank employees should ask

If you are moving from a branch role into a bank's investment program, ask HR or the program manager:

Which exams will the firm pay for, and does that include the SIE if I take it first?
Does the firm pay for retakes, and how many?
Are prep materials provided, or reimbursed?
Is there a repayment agreement if I leave within a certain period?

Retake Costs

A retake costs the full exam fee again. For the Series 7, that means another $395. Retakes also cost time, because a waiting period applies before you can sit the exam again.

FINRA Rule 1210 currently requires a 30-day wait after a first or second failed attempt and a 180-day wait after a third failure within a two-year period. FINRA filed an amendment in June 2026 to shorten those to 15 and 60 days, but has said the shorter periods will apply only from an implementation date it will announce in a future Regulatory Notice. NASAA has announced its own change for the state exams: its FAQ says the wait after a third failure drops from 180 to 60 days effective January 4, 2027.

The time cost is often bigger than the fee. For a new representative who cannot start serving customers until registered, a 30-day wait plus re-study time is a month of delay, and a third failure would currently mean six months. Some firms limit sponsored attempts, which can make repeated failures a job issue. The cheapest exam is the one you pass the first time.

Reschedule, Cancellation and No-Show Fees

FINRA's reschedule and cancellation policy adds costs that catch people out:

Rescheduling or cancelling within two business days of the appointment costs a fee equal to the full exam cost.
Rescheduling or cancelling within three to ten business days costs 50% of the exam cost. For the Series 7, FINRA's example is $197.50.
Not showing up results in a fee equal to the cost of the exam. For candidates who enrolled through FINRA's Test Enrollment Services System, such as SIE candidates, a no-show forfeits the prepaid fee and requires paying again to open a new enrollment window.
Missing the enrollment window entirely forfeits the fee. FINRA says it has no hardship policy, and the cost is not refunded or applied to another exam.

The practical rule is to schedule a date you can keep, and if you need to move it, do so more than ten business days ahead.

Other Costs Around Licensing

Prep materials

Prep is the largest variable cost and the one you have most control over. Options range from textbooks to online courses to fuller packages with practice exam software and video. The cost of good prep is small compared with a failed attempt, the retake fee and the delay. Compare formats by whether they cover the full FINRA content outline, include enough practice questions for full-length timed exams, and reflect current rules. For the one exam most bank staff pay for themselves, our SIE Exam Prep Online Course covers that exam.

Registration and fingerprinting

When a firm sponsors you, it files a Form U4 and arranges fingerprinting for a background check. Registration with FINRA and with each state also carries fees. These are firm-level costs in the registration process, and in a bank or broker-dealer setting they are normally paid by the firm. They vary by the number of states and registration categories involved, so ask the firm's registration team if you want the figures for your situation.

Insurance licensing

If your role includes variable annuities, you will also need a state insurance producer license with the appropriate line of authority, which carries its own pre-licensing, exam and license costs set by your state. Our post on insurance licensing for bank employees explains how that side works.

Keeping the qualification

Once registered, you will need to stay registered or use FINRA's Maintaining Qualifications Program if you leave the industry for a period, to avoid paying to take the exams again. A representative qualification lapses after two years without registration, and the SIE after four years from the later of passing it or your last registration.

How to Keep Exam Costs Down

Take the SIE when you are ready, not before. It is the one exam you pay for on your own timeline, so there is no reason to sit it underprepared.

Match the license to the role. A funds-and-annuities program needs the Series 6, not the Series 7. Taking the bigger exam for a role that does not use it costs more and takes longer.

Choose the Series 66 when it fits. For a representative who will also be an investment adviser representative and holds the Series 7, one Series 66 replaces two state exams.

Ask your firm what it covers before you pay anything.

Book a date you can keep and reschedule early if you must.

Invest in prep that gives you full-length timed practice. One avoided retake on the Series 7 pays for a good deal of preparation, before counting the month of delay it saves.

Start With the SIE

For most bank staff, the first fee you will pay yourself is the $100 SIE. Make it count with the Securities Industry Essentials (SIE) Exam Prep Online Course. When your firm sponsors you for the top-off, the Series 7 and Series 6 pages list the matching prep, and the securities licensing page covers the state exams.

Frequently Asked Questions

How much does the Series 7 exam cost?

FINRA lists the Series 7 fee at $395 per attempt as of October 2026. That is the exam fee only. To hold the General Securities registration you also need the SIE, which FINRA lists at $100, and most representatives also take a state law exam, usually the Series 63 at $147. A first-attempt pass on all three costs $642 in exam fees. The sponsoring firm commonly pays for the Series 7, though policies vary.

How much does the SIE exam cost?

FINRA lists the SIE fee at $100 per attempt as of October 2026. Because the SIE requires no sponsor, candidates who take it independently usually pay it themselves, although some banks and broker-dealers reimburse it for employees moving into an investment program. If you fail, you pay the $100 again for the retake, and you must also observe FINRA's retake waiting period.

How much does the Series 66 cost?

FINRA lists the Series 66, a NASAA exam that FINRA administers, at $177 per attempt as of October 2026. It requires the Series 7 as a corequisite and covers both the state agent and investment adviser representative material. For someone who needs both qualifications and holds the Series 7, it costs less than taking the Series 63 ($147) and Series 65 ($187) separately, which together total $334.

How much does the Series 6 exam cost?

FINRA lists the Series 6 fee at $100 per attempt as of October 2026. Like the Series 7, it is a top-off exam that requires sponsorship by a member firm, and it requires the SIE as a corequisite. A typical bank platform representative path of the SIE, Series 6 and Series 63 costs $347 in exam fees on first-attempt passes.

Does my employer pay for securities exams?

Often, for exams the firm needs you to pass. Because the Series 6 and Series 7 require sponsorship, the sponsoring firm is involved from the start and commonly pays the fee, and frequently the state exam fee and prep materials too. Policies differ on retakes, on reimbursing the SIE, and on repayment if you leave within a set period. Ask HR or the program manager before you pay for anything yourself.

What does it cost to retake a securities exam?

The full exam fee again, with no retake discount. A Series 7 retake costs another $395. You must also wait before retaking: FINRA's current rule is 30 days after a first or second failure and 180 days after a third within two years, with shorter periods filed but not yet implemented. Late reschedules and no-shows carry their own fees under FINRA's cancellation policy, up to the full exam cost.