In addition, exam questions are expected to be updated to reflect the changes to the accredited investor definition on May 1, Exam FAQs. Please see below for answers to frequently asked questions about the Series 63, 65 and 66 exams. If I pass a Series 65 examination, is that all I need to do to qualify as an accredited investor? How do I sign up for an exam? How do I sign up for an examination? What do the exams cost? Do I need to have a sponsor before I take the Series 63, 65, or 66?
Once I file the form and pay the fee, when can I take the exam? Where are the exams given? Does passing an exam immediately qualify me to do business? How long is the validity period for an exam if I have not been registered? Where can I get more help with studying for the exams? You can find a list of vendors on this site.
My scores on the Series 65 or Series 66 average a passing grade, but the testing center said I failed; is that correct? I gave an answer on the test from my study guide that was scored wrong. I have passed the Series 7 exam; do I also need the Series 63 to register as a registered representative for a broker-dealer? How do I apply for a waiver of the Series 65 based on my professional certification? Will having a qualifying professional designation also waive the requirement for taking the Series 66?
How long must I wait after failing an exam before I can take it again? Are waivers granted to the day waiting period to re-take the exam?
Is there a limit on the number of times I can re-take an exam? If I failed the Series 66, does the waiting period apply if I want to take the Series 63 or Series 65?
No; the waiting period applies only to the specific exam you did not pass. I have older study materials for the Series Can I still use them? How can I report a problem that occurred on my exam? Where do I get a certificate or other evidence of passing the exam? I need special accommodations when taking the exam. How are such arrangements made?
I work in a state that does not license investment adviser representatives. Will my Series 65 exam remain valid? When I transfer to another firm, do I have to do anything to keep my license? Do I need to pass the Series 63 if I am just taking orders for securities? Do I need to pass the Series 65 if I am just soliciting clients for an investment adviser or getting referral fees? Which version of the Uniform Securities Act should I study to prepare for my exam? No; there are no citizenship limitations on taking the Series 63, 65, or Are exams given outside of the United States?
If I want to use the Series 66 in combination with the Series 7, do I need to take one of the exams before the other? Should I take the Series 65 or Series 66? My day exam window is about to close, but I need more time to study. Can I get an extension? I would like a refund. What should I do? I decided not to take the exam. Can I get a refund? The good news is that if you do not pass the 65 exam, you receive a report showing your performance in each subject, which will greatly assist you in passing the 65 the next time you sit for the exam.
By using the information given you can determine what areas you are strong in and what areas need more of your attention. She is also a registered notary.
Sheri Mushel. Robert J. Hello Sheri, All good advice for Series 65 candidates. I have a degree in business administration, economics and political science. Thanks Sheri! I certainly enjoy working with you.
Hello Sheri, Great read!! I felt very confident when I started my test,but I was blindsided and thought they accidentally keyed in the wrong test. I failed the test. Please advise. Joseph, what happened? Sheri, should I get a refund and use a different system? Toggle navigation. Share your thoughts and opinions with the author or other readers.
All I used was the TesTeachers online course. I felt very prepared and confident in the exam. I have actually started offering webinars and tutoring for the Series 65 along with the Series 6, 63, and 26 exams. If people are having trouble, or looking for help in passing these exams, please check out www. I did the same thing. I used TestTeachers and felt very confident going in to take the test. I could explain why the answers were what they were.
Then, taking the testWHAM! Nothing like the practice test. You took yours in February of ; what did you use to pass? Is that a typo, or how is that broken down exactly? The practice exam itself can't take more than 3 hours or so, so are you suggesting another 13 hours of studying for it after the initial hours are completed?
To me it seems like that would just be written as roughly 40 hours of studying plus the practice exam, but maybe I'm missing something. Also, would you recommend the Kaplan online program if cost is not an issue? I am trying to schedule a trip to Europe immediately after passing the exam and I'm not sure how long I need to budget for that. I have a 5-year CPA-track education and no current job to distract me, so I can focus on studying.
Thank you for the helpful information! Ethan, The 16 additional hours for the practice exam was for studying for the questions you got wrong. Most people study for this a total of about 40 hours. If you want to email me directly, please do so at smushel riainfo. I am pretty sure I work with the advisor you are going to work with. I received an email this weekend from our client who was talking about a new hire named Ethan who is studying for the 65 and is going to Europe.
If you are located in Oregon, I am sure it is you and would be happy to talk to you about the whole process. It was nothing like what they we coaching me on. I'm looking for another course; Robert Walker Just saying this with immense pride, my 18 year old son just passed the exam. He self taught himself the material after his high school graduation and will be attending college this year to pursue his finance major. Congratulations to your son! Tell him to be in touch when he graduates. Develop and improve products.
List of Partners vendors. Series 63 is an examination that, when passed, allows the holder to sell and solicit orders for any type of financial securities in a particular state. Most states, but not all, require a person to pass the Series 63 exam to become a licensed securities agent.
Series 63 is also the name of the license awarded after passing the exam. A person can retake the Series 63 exam along with the Series 65 or 66 exams an unlimited number of times, so long as applicable waiting period requirements have been met, according to the North American Securities Administrators Association NASAA , which oversees the test.
After a person fails the Series 63 exam the first time, there is a waiting period of at least 30 days before the second taking of that exam can be scheduled. After a second failed attempt, there is another waiting period of at least 30 days. If an exam is failed three times or more, there is a waiting period of at least days for scheduling each subsequent retaking of the test. Waivers of the day waiting period are granted only rarely. The reason: The test questions are selected at random from an existing database of queries, and if a test is taken enough times, the same questions recur.
The exam then becomes a test of memorization rather than competency. NASAA periodically revises exam questions to reflect recent regulatory changes. Series 63 65, and 66 exam questions are being updated in to reflect the SECURE Act changes to retirement plan rules, along with alterations in the accredited investor definition.
While the time frames for re-dos are the same for the Series 65 and 66 tests, the waiting period applies only to the specific exam a candidate did not pass. FINRA is vested with responsibility for governing business between brokers, dealers, and investors. Series 63 is considered an entry-level exam.
There are 60 multiple-choice questions on the exam. Covering the principles of state securities regulations, the exam was developed to qualify candidates who want to work in the securities industry within a state and to sell investment products , such as mutual funds, variable annuities, and unit investment trusts.
Most states and U.