30 day waiting period?

14 replies [Last post]
Laurenwoods17's picture
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Joined: 2007-08-07

Can anyone explain what can (or cannot) be done during the 30 day waiting period after passing the 66? Are you allowed to interact with potential clients at all? Can you use the time to set appointments for after the 30 day threshold? Thank you.

Indyone's picture
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Joined: 2005-05-31

Hmmmm...that must be a state or firm requirement.  I don't recall anything more than a couple of day's delay, but that was back in the day of the 7&63 combo...

Jonesness's picture
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Joined: 2008-02-26

I didnt have a waiting period
 
are you sure?

Laurenwoods17's picture
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Joined: 2007-08-07

Well...this is very good news! I guess if no one has heard of it then maybe I am mistaken/maybe that is why I can't find any information online. I thought it was in the material for the South Carolina 66 exam.

Morphius's picture
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Joined: 2007-07-21

Are you certain you are asking the right question?In order to get your 66 you need your 7 first, and once you have your 7 you can sell securities for a commission, but you'll need the 66 to charge a fee.  So what type of business exactly are you asking about doing?  What type of B/D'er are you with?

doberman's picture
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Joined: 2005-02-22

Check with the licensing department of your B/D.

Maxstud's picture
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Joined: 2005-12-29

I believe it is 6 weeks after you pass the test before you can sell.  At EJ I spent the 6-weeks doorknocking but could not ask or answer any financial questions.  Then when I could sell I had somewhere around 700 people to call that I had spoken with.

troll's picture
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Joined: 2004-11-29

Remember, if you FAILED the exam, you'd have to wait 30 calendar days before you can take the exam again.  (I failed my 66 twice, so I remember this rule quite clearly.)

Philo Kvetch's picture
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Joined: 2005-05-17

Maxstud wrote: I believe it is 6 weeks after you pass the test before you can sell.  At EJ I spent the 6-weeks doorknocking but could not ask or answer any financial questions.  Then when I could sell I had somewhere around 700 people to call that I had spoken with.

Max, are you sure it was six weeks? It's been a long time, but I thought the waiting period after passing the 7 was 30 days. If your recollection is based upon experience more recent than mine, I yield to your memory.

I have the 65, and as far as I know it was effective immediately. I would think that the 66 would be similarly structured. Others here have posted good advice...check with compliance and registrations at you B/D. Don't take chances with your livlihood.

anonymous's picture
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Joined: 2005-09-29

I also seem to recall that with the 65, it was effective immediately.  Is it possible that the waiting period had something to do with a period of time from when one registers for the exam until they could take the exam?

Morphius's picture
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Joined: 2007-07-21

I think until Laurenwoods takes the time to really be clear on exactly what the regulatory question is, there's not much any of us can offer other than speculation.  This should be very easily handled internally with your compliance people - just ask them to explain precisely what regulations apply to your situation and why.  Then feel free to ask for feedback here.  You'll get much further that way.

Laurenwoods17's picture
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Joined: 2007-08-07

Thanks, all.

Maxstud's picture
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Joined: 2005-12-29

iceco1d wrote:Are you sure you aren't thinking of the 90 day waiting period for MSRB after you take the S7?
 
Sorry I was thinking the 7.

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