Series 62 - Corporate Securities Representative Exam (CS)

Exam Restructuring

The Series 62—the Corporate Securities Representative Qualification Examination (CS)—assesses the competency of an entry-level representative to perform his or her job as a corporate securities representative.

The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a corporate securities representative, including trading common and preferred stocks, corporate bonds, rights, warrants, closed-end investment companies, money-market funds, privately issued mortgage-backed securities, other asset-backed securities and real estate investment trusts (REITs).

The exam consists of 115 scored questions and five unscored pretest questions. Candidates have two hours and 30 minutes to complete the exam. The passing score is 70 percent.

Please see NASD Rule 1032(e) Corporate Securities Representative for more information.

Content Outline


The Series 62 - Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. It includes sample questions to acquaint a candidate with the types of multiple-choice questions on the exam.

The outline consists of four sections:

  • Section 1 — Types and Characteristics of Securities and Investments
  • Section 2 — The Market for Corporate Securities
  • Section 3 — Evaluation of Securities and Investments
  • Section 4 — Handling Customer Accounts and Securities Industry Regulations

Download: Series 62 - Content Outline

Eligibility


The Series 62 does not have a prerequisite exam.

Please see Register a New Candidate for more information on the registration process.

Permitted Activities


Covered activities and products include the solicitation and sale of the following.

  • Corporate securities (stocks and bonds)
  • Rights
  • Warrants
  • Closed-end funds
  • Money-market funds
  • Repos and certificates of accrual on corporate securities
  • REITs
  • Asset-backed securities (ABS)
  • Mortgage-backed securities (MBS)
  • Securities traders
  • Corporate financing
  • Exchange-traded funds (ETF)

Taking the Exam


The table below lists the allocation of exam questions for each section in the Series 62.

Section Number of Questions
Section 1 — Types and Characteristics of Securities and Investments 25
Section 2 — The Market for Corporate Securities 40
Section 3 — Evaluation of Securities and Investments 14
Section 4 — Handling Customer Accounts and Securities Industry Regulations 36
TOTAL 115

Key Questions


1. What is the difference between Series 7 and Series 62?

The General Securities Representative Examination (Series 7) is an entry-level examination that qualifies the individual for registration with all self-regulatory organizations to trade:

  • corporate stocks and bonds
  • rights
  • warrants
  • real estate investment trusts (REITs)
  • collateralized mortgage obligations (CMOs)
  • municipal securities 
  • options-equity, index, and foreign currency
  • investment company products/variable contracts
  • direct participation programs
  • exchange traded funds (ETFs)

The Corporate Securities Limited Representative Examination (Series 62) satisfies a FINRA qualification requirement for individuals who will trade corporate securities only. These include:

  • corporate stocks and bonds
  • rights
  • warrants
  • REITs
  • collateralized mortgage obligations (CMOs)
  • exchange traded funds (ETFs)

Using Reference Materials


The test administrator will provide whiteboard/dry erase marker and basic electronic calculators to the candidates, which must be returned to the test center administrator at the end of the testing session. Some test questions involve calculations. Only the provided calculators may be used during the examination.

The examination may contain questions that require the use of exhibits (e.g., charts, graphs, tables). If so, the questions will indicate when to refer to an exhibit.

Candidates are not permitted to bring any reference materials to testing sessions. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA administered examinations.

To learn more about logistics and protocols for your exam day, please see On The Day of Your Exam.