| A stock broker is a commissioned agent who | | | | business |
| arranges for selling or buying stocks or | | | | |
| other financial instruments for his or her | | | | 2.Customer protection laws, procedures and |
| clients. The stockbroker sometimes is not | | | | liabilities |
| needed these days when buying and selling can | | | | |
| be done over the internet. Still, the earning | | | | 3.Record keeping and administrative |
| potential of stockbrokers has never shown | | | | procedures |
| signs of decreasing. | | | | |
| | | | You will need to check whether your state |
| I Am Not A College Graduate; Can I Become A | | | | requires you to execute a personal bond. |
| Stockbroker? | | | | Correspondence courses are also available, |
| | | | which is the most preferred mode of study |
| Anyone who is interested can become a | | | | chosen by candidates. |
| stockbroker, provided he has or she has the | | | | |
| requisite grasp of the subjects required and | | | | Isn't Working On Commission A Risky |
| a good understanding of the financial | | | | Proposition? |
| markets. Anyone from high school graduate to | | | | |
| a Harvard scholar can become a stockbroker. | | | | It depends on how you look at it. It can be |
| However, these days it is desirable that | | | | compared to the classic case of two people |
| aspiring candidates have a college degree due | | | | looking at a half full glass. However, |
| to the complex nature of the job and the | | | | usually those who think they can make a |
| larger grasp of the economy that is needed | | | | career in this filed also have an in depth |
| for making technical and commercial financial | | | | knowledge and strong belief that they can |
| analyses. | | | | succeed in the profession. One long Bull run |
| | | | can cover the lean periods. |
| Do I Need A License And What Are The | | | | |
| Requirements For Obtaining One? | | | | How Is the Market Competition? |
| | | | |
| Yes; but before you get your license, there | | | | For brokers there is usually never a long |
| are exams that you need to pass in order to | | | | lean patch, even including the sluggish |
| qualify to represent clients. Although | | | | phases that followed the 9/11 attacks. The |
| licensing requirements vary from state to | | | | younger Baby Boomer generation, with their |
| state, the overall requirement is roughly the | | | | fast paced investment and lifestyles, keep |
| same. | | | | entering the market in search of high |
| | | | returns. A new broker need not refrain from |
| National Association of Securities Dealers, | | | | approaching clients of the older, larger |
| or NASD, conducts this licensing examination | | | | brokerage firms. There is always a chance for |
| which is called the General Securities | | | | winning some of them who are not satisfied by |
| Registered Representative Examination, or | | | | their services. |
| Series 7 exam. After this examination, one is | | | | |
| required to put in an internship of at least | | | | Stockbrokers also do double duty as |
| 4 months with a registered brokerage firm. | | | | investment advisors, real estate agents |
| | | | brokers etc which complements their work as |
| Most states also require a secondary | | | | well as supplement earnings. The idea is to |
| examination. This is the Uniform Securities | | | | catch the investor to diversify his |
| Agents State Law Examination, which is | | | | investment. If you want to know the earning |
| devised to test candidates' knowledge in: | | | | potential: the median earning was $69,200 |
| | | | while the central half earned between $40,750 |
| 1.General knowledge in securities and stocks | | | | and $131,290. |