A Series 63 license is a securities license that entitles the holder to solicit orders for any type of security in a particular state. To obtain a Series 63 license, the applicant must pass an exam and possess knowledge of ethical practices and fiduciary obligations. The exam is called the Uniform Securities Agent State Law Examination and is required of all potential registered representatives in most U.S. states. The exam consists of 60 multiple-choice questions, and the passing score is 72% or 43 of the 60 questions. The exam covers the principles of state securities regulations and rules prohibiting dishonest or unethical practices. The Series 63 license is required in most states for financial professionals who want to sell securities to residents. However, some states, including Colorado, District of Columbia, Florida, Louisiana, Maryland, Ohio, and Puerto Rico, do not require the Series 63. The Series 63 license is good for the entire period that the holder works for a FINRA-member firm or self-regulatory organization (SRO) and only expires if the holder is terminated or leaves a firm and does not find employment within two years at another FINRA-member firm or SRO. The Series 63 license is often obtained in addition to a Series 7 or Series 6 license, which are required to sell securities.