The Series 11 license in the US allows a sales assistant to take security orders from customers and perform administrative duties. The license requires passing an exam and being sponsored by a certified valuer or distributor. The licensee cannot offer financial advice or solicit new accounts. The license is strictly for administrative duties and does not entitle the holder to receive commissions or additional compensation.
In Los Estados Unidos, the 11 Series relies on a specific type of security license that must have a sales assistant before being able to take security pedidos from customers who were not solicited. To obtain this authority, you must take and open a Series 11 exam with a satisfactory qualification. After obtaining the license of the Regulatory Authority of the Financial Industry (FINRA), a person with the approval of the 11 Series can perform poor supervision and assist a licensed dealer who holds a license of the 7 Series.
An individual with this type of license works strictly in the capacity of an assistant. As such, this person performs administrative duties and can take phone calls and process them. With this licence, a person can also, under appropriate supervision, enter orders in the Posit, SelectNet or Instinet systems used by the wallet houses to automatically execute the transactions.
To be able to take the license exam, an individual must be sponsored by a certified valuer or distributor. The Series 11 exam offers a wide range of topics to adequately evaluate the knowledge of a sales assistant in key financial areas. These themes include bonus concepts, different types of values and option contracts. Preparation for the exam lasts approximately six weeks if a person studies during a two-hour session each day. The real exam takes approximately one hour to complete and consists of 50 multiple option questions.
A Series 11 licensee cannot offer reversals or financial advice, nor can he offer recommendations on security transactions. This person also has a ban on soliciting new accounts for his company. To be able to achieve these areas, an additional license is required, such as a 7 Series license.
As an assistant, the duties of a Series 11 licensee are strictly relegated to specific administrative duties, however specialized. The salaries of these specialized assistants may vary, but all are paid by the hour or according to a predetermined salary. Posing a Series 11 license does not entitle an assistant to receive any type of commission or additional compensation.
The official title issued to the Series 11 license holders is the assistant representative for the order process. All safety licences, including Series 3, 6, 7, 27 and 63, apply to different positions of value. Cada uno de estos está sujeto a las leyes y reglamentos establecidos por la Comisión de Bolsa de Valores. The license holders are also regulated by the Regulatory Authority of the Financial Industry, which supervises all and each of the firms of values that actively operate in the United States.
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