How difficult are these Series 7, 63, 86 and 87?

Question

Series 7

Series 63

Seriees 86 and 87

1.) Could you please sort them in term of difficulty from the least to the most?

2.) Are their difficulties comparable to CFA or FRM?

3.) Can you tell me where can I get their reading materials?

I have tried searching in Amazon.com but only found for 7, 63 may be but 86&87 was surely not found.

4.) I must be sponsored by a firm to take these tests, right?

5.) Does it mean I must be hired first then being able to take the tests?

Answer 1

these tests are a joke.  not even 1/10th as hard as CFA/FRM exams.

basically, firms use them to weed out complete idiots that may have gotten hired due to nepotism.

if you know the difference between a call and a put, i wouldn't bother studying more than a week or two for the 7/63/86 (not as familiar with the 87, but i figure it can't be that tough, considering the others).

generally, you'll only take them when directed to by your firm.  if you're graduating from college/mba this year, you may be encouraged to start knocking them out now - i've even heard of some firms making interns get them if they think they'll be offering them a full-time position the following year.

because there is a cost to the firm to let you take the exams and park your licenses with the firm, they generally won't sponsor you unless they know that you'll be working for them.

Answer 2

The series X tests are to get you securities liscense.  

1. I personally did not find that too that hard.  I have my series 7 and 66, I personally thought that the series 66 was harder that the series 7.  The series 7 covers some basic to moderate investment material.  I don't have the series 63, 86 or the 87 so I would rank them

Series 7

Series 66

2. The series tests are cakewalk compared to the CFA and FRM.  I am studying for the FRM and taking it this fall and man it is tough so far.  I am putting in 3-4 hours a day 5 days a week and have been studying for a month and a half for it and I do not feel ready for it at all.  I do have some time though.  I also plan on taking CFA level on next spring.

3.  I got the reading materials through the broker dealer that was sponsering me for the series 7 and 66,  the costs were subsidised.

4.  For the series 7 and 66 you must be sponsered.  I am not sure for the FRM and CFA tests, you do need 3-4 years of industry experience to get them.

5. Yes