Before selling stocks and bonds, individuals must secure a _____ to qualify for licensing exams.

To sell stocks and bonds, individuals are required to have a sponsor who is usually a registered firm or brokerage. This sponsorship is crucial because it provides the necessary support and resources for candidates as they prepare for licensing exams, such as the Series 7 or Series 63, needed to operate legally in the financial markets. Without a sponsor, individuals would not have access to the exam material or the authorization to sit for the exam, thereby making it impossible for them to obtain the required licensing to sell securities.

This requirement emphasizes the importance of professional mentorship and oversight in the financial industry, ensuring that individuals entering the field are properly trained and aware of regulatory standards and ethical guidelines.