1. What makes BTS.com different?
Getting a license to sell stocks, bonds, mutual funds and other investments is different. Individuals and companies that are in the investments business are regulated by The Financial Industry Regulatory Authority (FINRA), the largest non-governmental regulator for all securities firms doing business with the United States public. All told, FINRA oversees nearly 5,100 brokerage firms, about 173,000 branch offices and more than 665,000 registered securities representatives. In order to take the test to get a securities license, a person must be “sponsored” by a member of FINRA. That means you must be an employee of that firm. But, BTS.com uses a sponsoring firm that is a registered investment advisor, regulated by the SEC, so you do not need to quit your current job and be an employee of any other company to take your licensing test.

2. What happens after I pay you?
As soon as we receive payment (whether for just a course or a course and the test fee) we will contact our course provider with you information. You will be given detailed instructions on how to log on, sign in, and access your course information and study materials.

3. How long will it take me to study and take the test?
That depends on how smart you are, how hard you study, and how many hours a day or week you commit to learning all there is to know for that examination. We have found that on average, a qualified person who spends an average of 6–8 hrs a week studying, will be ready to take a Series 6 or 7 in about 4 months. Our other examinations, since they involve less material to learn, will take less time.

4. How hard are the tests?
These are very hard tests! The series 7 consists of 250 questions. It is a 6 hour examination. And to get a passing score you much get at least 70% correct.

5. Can anyone that signs up for a BTS.com course take their corresponding test?
Anyone age 21 or older can sign up for a BTS.com course. However, in order to actually take an examination, you must submit a form (a “U4”) to FINRA, and they must approve your application to take the test. People that have problems in their backgrounds such as felony convictions, bankruptcies, dishonorable military discharges will be rejected. If you have any concerns in this area, contact a BTS representative prior to signing up.

6. Why do I need to sign a statement saying
I intend to be “engaged in securities activities”?
We believe that everyone who signs up for a BTS.com course and test should intend to use their license as an employee of an investments firm. But we also understand that not everyone will end up this way. People change their minds, choose other careers. But is it important and necessary for regulatory purposes that you state your intentions when you sign up with BTS.com.

7. How long can I study before I take my test?
In order to avoid new fees from both BTS.com and regulators, you must complete your course and take your exam within 12 months of your start date.

8. Where do I take my test?
We will soon post a list of authorized test centers across the country on our web site.

9. How are the arrangements made for me to take my test.
After you complete your course study program and are ready, you will contact us. If you’d already paid your testing fee, you will tell us the test center you wish to use and the date you wish to take the exam. We will send you all the information and materials you will need to take your examination.

10. What are your refund/cancellation policies?
Please see our disclosure page for full refund information.

11. How will I know if I passed my test?
We will contact you by email as soon as we receive the results of your test. Usually, you will know if you passed or failed within 72 hrs of your testing.

12. What happens after I pass?
Immediately upon passing your test, BTS.com will authorize that your license be put into “suspension”. Remember, you cannot engage in securities unless and until you do actually become an employee of a firm that is a member of the FINRA (a brokerage firm like a Merrill Lynch, etc.). A form “U5” is submitted, putting your license in suspense. You will then have 2 full years to become an employee of a FINRA member firm and they will “activate” your license. If your license is not activated by a member firm within the 2 year time limit you will need to take your test again.

13. What if I don’t pass?
You must wait 30 days before you may retake the exam. BTS will take the appropriate steps to have you retake the exam, but you will need to pay the appropriate fess to the various regulators again. You may restudy all your BTS materials including practice tests, at no additional cost.

14. Can you help me get a job in the investments industry?
Absolutely! BTS.com has relationships with many firms that are constantly seeking licensed personnel, and this help is available to you at no charge.