Question about NASD Licenses!

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1.Can anyone tell me some benefits about getting NASD licenses? Compared to CFA ?
2.And which series is more useful for applying a finance entry job?
3.Any textbook or some material need to purchase?
4.Finally, if I'm willing to register CFA after I graduate in next year, is it necessary to take some
NASD exams in which CFA won't be covered?

I know here has a lof of experts in CFA, CPA, etc. So could you please give me some comments and suggestions? Much appreciate...
 
The CFA is about 45X more difficult that a broker license. And probably about 2x as hard as the CPA test. That said just get a drivers license and see where you can go with that.
 
If you want to transact business, either solicit or process customer orders for stocks or bonds and want to recieve a commission, you probably need the series 7. It is mostly regulatory garbage focusing on municipal bond regulation, new account regulations, and very basic descriptions of options.
As for the CFA exam being 2 times as hard as the CPA exam, i am not sure that is true. I have heard from individuals who have taken both and they say the CPA is much more difficult. It is all on an idividual by individual basis.
 
You have to get the Series 7 before you can get most of the other NASD licenses. It's like the prereq because it covers a wide range of topics.

Just to give you an intro to licensing..

The series 6 & 63 is what most insurance companies, banks and general sells type jobs require. If you get the series 7 it allows you to cover everything from the 6, in addition, you can also cover stocks. So the 7 trumps the 6. And similarly, some firms require the 63 and 65, well the series 66 is the 63 and 65 combined.

So the best route to start, is with your Series 7 and Series 66. You will need a sponsor for the 7 but shouldn't for the 66 last time I checked for someone else.

The series 3 does not require a sponsor either. Nearly all the rest do. And most firms won't sponsor you for it unless you are in a role that needs the license.
 
If you know the whole alphabet, you can get a series 7 license. Just get it over with, everyone will need at some point in this racket.
 
I guess it all depends. CPA has no advanced math or interpretations of anything quantitative aside from weighted averages and basic TVM stuff. And there is only 1 way to solve em. According to GAAP. But certainly all on the individual.
 
What a wonderful place in here! Again, thanks for all you guys :)
To Fx:
I seems like the most useful parts are Series 7 and Series 66, but what if I couldn't get a sponsor from Series 7, it means I will never get a chance to sit in Series 66 room. And the only thing I can do is taking the basic part--Series 3 and starting to walk. So do you think I should start walk from Series 3? Like you said that "most firms won't sponsor you for it unless you are in a role that needs the license." I'm wondering whether I should track this road or maybe forget about those licenses, just wait until I finish my degree and follow to CFA?
millions of thanks...
 
who would need series 55, equity trader?
 
mit,

The NASD and other SRO's require its members, and employees of its members to pass a qualification exam in order to become a registered equity trader limited representative.
You must pass this exam to trade equity and or convertible debt on a principal or agency basis. The series 7 is a prerequisite. Am I a trader, no. I thought it would be nice to learn the ins and outs of the NASDAQ, OTCBB, Pink Sheets, and the third market. This was just something for me to do while I was studying for level two and awaiting my level 1 results.
 
mit Wrote:
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> who would need series 55, equity trader?


market making trader
 
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