<p>I'm 18 and am currently unemployed. I just got accepted to the Wharton School of Business and have been offered an internship for next summer with Morgan Stanley; if at all possible I'd like to go into the internship with the series 7 under my belt, but I don't know if it's possible. I know that you have to be sponsored by a member insitution to take the test, but is employment a requirement as well? Or, can I simply pay the fee on my own and then ask/possibly pay a company to fill out the form and sponsor me?</p>
<p>You just got accepted to Penn, ED? How did you get offered an internship with MS for next summer? Not through their regular summer internship program. Nevertheless, there is no point in getting your series 7 unless you have a permanent employer sponsorship or you’ll lose your series 7. Whenever you change employment the certification needs to be transferred, otherwise after 2 years (I think) you lose the certification.</p>
<p>Thanks, I knew that you lost certification after 2 years of not working for a member institution, but I didn’t know if summer internships would count and allow me to stay certified.</p>
<p>For future references, if you ever pay a company to sponsor you or get sponsor without gaining rightful employment from a broker dealer/firm you are breaking SEC rules and can be banned from the market if you are caught.</p>
<p>Sponsorship isn’t just about allowing you to take the exam. In short, sponsorship by a firm means they are telling the SEC that they will legally be responsible for your actions and they will train you according to regulations and ultimately hire you as an employee/consultant for X amount of time.</p>
<p>besides, if you are going to be with morgan stanley, just wait until you are working for them and ask them for sponsorship. That will solve everything.</p>
<p>I didn’t know that paying to be sponsored was against SEC rules (I actually got the idea after reading about a guy who got his liscence by paying for sponsorship). It was just an idea I was interested in and thought I’d ask about since I don’t know much about the test. So, thanks for all the help</p>
<p>What some people do is, they know someone at a broker dealer, friend or family and they ask them to recommend you for the firm. They can tell their boss they are interested in supervising you and want to pay for your sponsorship. In return, you get sponsored and your friend/supervisor pays for your sponsorship. After you acquire your license, you can pay your friend back.</p>
<p>Thanks again</p>
<p>Does anyone know of any accredited colleges or universities that have offered credit for successful completion of the S7 exam?</p>
<p>Series 7 is a test for working professionals. It doesn’t satisfy any academic course description.</p>
<p>Yeah, thanks I know what the Series 7 exam is for. The question that I had asked was whether or not anyone has heard of a college or university providing credit for completion of the exam. Everyone says it doesnt satisfy any academic courses, but I bet most students would learn more from studying for the exam/ taking a prep course for the exam rather than any undergraduate level business course.</p>
<p>Don’t you have to be 21yo to get licensed?
Get a Life Insurance License first (flip side of coin to investments). License eligibility at 18yo.</p>
<p>No you do not have to be 21 years old to get licensed. You must be of legal age which is mainly 18 years old. Each firm may have a different requirement, but you do not have to be 21 to take the series 7.</p>
<p>For the love of God, you do not need to take this exam. </p>
<p>I think requirements may vary by state but its rather meaningless given your situation. </p>
<p>You are only 18 and not even in college yet, things change in life</p>
<p>I am 20 year old and I am a Sophomore in college. I am looking to take the exam because my boss is paying for me to take it and it was his decision to have me take it. I figured it couldn’t hurt and it could only make my resume look that much better.</p>