In this video two series 66 experts weigh in on how to prepare. Candidates of the series 66 must score 73% on 100 questions in order to pass. The series 65 and series 66 are qualification examinations for people who want to pursue careers as investment professionals. In order for a candidate to pass the series 66 exam, heshe must correctly answer at least 73 of the 100 scored questions. Series 66 omits questions related to securities products, securities analysis, and investment strategy that are a significant part of series 65 and are also covered at greater length and detail in series 7. The series 66 is essentially a combination of the series 63 for securities agents and series 65 for investment adviser representatives. The series 66 test is designed by the north american securities administrators association and administered by finra financial industry regulatory association using a process known as on the fly.
Passing the series 63 exam in the united states certifies individuals as uniform securities agents this allows them to trade securities as per state law. The series 7 covers some basic to moderate investment material. Passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. The questions on the test are assembled by level of difficulty and content area. Successful completion of the series 66 exam is equivalent to successful completion of both the series 63. What is the best way to prepare for the series 66 exam. Most securities exams administered by both finra and the nasaa have a passing score of 70%, except for the series 7, 63, and 65, which have passing scores of.
The program is divided into the same chapters as our series 66 text, and includes an online textbook that leads the user sequentially through every topic, testing the user on each major point. One other factor bearing on preparation for these tests is that the cfa is only offered twice per year for level 1, and once per year for all other levels, so you have to overstudy the material in order to maximize your probability of passing, much more so. So, the pass rate was quite poor, test difficult, and numerous complaints about how poor the study material was, didnt match up to the. The series 66 exam is 100 questions with a time limit of 150 minutes and a passing score of 73%. The examination also called the series 66 is designed to qualify candidates as both securities agents and investment adviser representatives. The series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. A general overview of finras series 6, 7, 63, 65 and 66. The series 63 is definitely not more difficult than the series 6 nor is the series 65. While you can take the series 66 and the series 7 license in any order, the series 66 license is granted only upon satisfactory completion of the series 7 exam. May 05, 2019 most securities exams administered by both finra and the nasaa have a passing score of 70%, except for the series 7, 63, and 65, which have passing scores of 72%, and series 66, which has a. According to a survey conducted by wall street journal wsj, at least 14% of roughly 370,000 brokers surveyed failed the exam in their first attempt there is no limit on the number of times candidates can write the series 63. However, when some people take the series 66, which is a combination of the series 63 and the series 65, it is more difficult than the series 63 alone and it can be just as difficult as the 6.
One other factor bearing on preparation for these tests is that the cfa is only offered twice per year for level 1, and once per year for all other levels, so you have to overstudy the material in order to maximize your probability of passing, much more so than for the finra exams. I just took and passed the 63 and am studying for the 65. It is among the shortest of finras myriad licensing exams, but packs a punch. The series 66 examination licenses an individual in the state to sell both securities and investment advisory products. By contrast, the questions on the series 7 exam are detailed and related to the daytoday activities, responsibilities, and job functions. Do not use the browser back button while doing this test. After reading so many threads on the subject, i was discouraged to use stc and asked my firm. The series 66 is a qualification exam for securities agents and investment adviser representatives. For examinees with conditions covered under the americans with disabilities act, that require special testing accommodations, you can make this request in writing. Stc kicked it for the series 7, but imo was abysmal for the series 66.
Generally, for those persons with the series 7 license, the series 66 exam is easier to pass than the series 65. I went through the binder for each the series 9 and 10 exams and went through the process of taking. This study guide is designed to provide an overview of the exams general content and format. Mar 08, 2020 finras series 6 exam difficulty level needs some explaining. However, to register as an investment adviser representative based on the series 66, an individual must also have passed the finra series 7 exam and the exam must be valid i. Finra designed it to test series 7 license candidates on how well they can apply their knowledge of securities concepts to specific scenarios.
This process arranges questions using two parameters. Oct 22, 2019 series 66 can be taken either before or after series 7. Conventional wisdom suggests that the level of difficulty is the same for the series 65 and series 66. Mar 27, 2019 series 66 is an exam administered by the financial industry regulatory authority finra. While there is a no official pass fail rate released, a previous study suggested that around 14% of candidates fail the exam on their first attempt. As you can surely see, the 65 exam is more concentrated on the content usually covered by the series 7 and, also, is a more comprehensive test with questions. The exam actually has 110 questions, but 10 of these are. Candidates demonstrate that they have a baseline of knowledge required. The examination tests candidates on knowledge, skills, and competencies related to providing investment advice and effecting securities transactions for clients.
Get that one right, and the difficulty level will rise, allowing you to score more points. There are over 738 series 7 66 careers waiting for you to apply. Mar 05, 20 on may 8, 2010, and june 29, 2010, wheeler passed, respectively the series 63 and series 7 examinations. Prior to july 1, 2016, candidates had to attain scores of 75% in order to pass and prior to january 1, 2010, candidates had to attain scores of 71% in order to pass. The series x tests are to get you securities liscense. Ive been studying on and off for this series took the 65 two years ago and failed big time then switched to the 66 last year. In order for a candidate to pass the series 66 exam, heshe must correctly answer. The series 66 satisfies series 65 and series 63 exam requirements, but series 7 registration is a corequisite for the series 66. Jul 03, 2015 the series 66 exam has a little more state law and some esoteric investment products. We offer a variety of instruction options and exam prep study tools to best suit your learning style and schedule. The program dynamically modifies each students learning sequence, based. It is a corequisite of the sie exam, which tests you on general securities topics. The series 66 exam the nasaa uniform combined state law examination is a north american securities administrators association nasaa exam administered by finra.
To pass the exam, a candidate must score 73% or better, answering at least 73 questions correctly. However, a person taking the series 66 must also take and pass the series 7 general securities registered representative exam before registering with a. Kaplan financial educations securities licensing exam prep packages provide all the necessary tools to help you prepare, practice, and perform on the nasaa series 66 exam, uniform combined state law examination. Series 66 exam free series 66 exam tips and preparation. The series 66 exam is comprised of 100 scored and 10 unscored experimental questions. People who take the 66 are usually people who already have passed the series 7 exam. The series 66 exam contains topics covered in the series 63 and series 65 exams without duplication of the series 7. Each 2 hour training session provides you with a fun, unique, thorough way of learning the often difficult series 66 material. The series 66 exam is computerbased, and includes 110 multiplechoice questions. The uniform combined state law examination also called the series 66 exam is designed to qualify candidates as both securities agents and investment adviser representatives in the united states. By contrast, the questions on the series 7 exam are detailed and related to the dayto. Similarly, you have a painful stimulus to deal with called the series 65 or series 66 exam. One major reason for the greater series 7 topoff difficulty versus the sie exam is the math. In the post below, we unpack some of the main components that present challenges to our students.
Our series 66 study guide contains easytoread essential summaries that highlight the key areas of the series 66 test. Jan 18, 2017 the series 66 exam is comprised of 100 scored and 10 unscored experimental questions. Sponsorship from a broker dealer is not a criterion and you do not have to be a u. The series 66 is a combination of the series 63 exam and the series 65 exam. Passed the sie, series 7 and series 66 in the space of a few months and of course, without a fail. Series 66 can be taken either before or after series 7. Six things you absolutely must know if you are planning to take the series 66 exam.
On may 8, 2010, and june 29, 2010, wheeler passed, respectively the series 63 and series 7 examinations. If an individual does not already have a series 7 and wishes to be an iar, the series 65 is nasaas competency exam. If you need to take the series 6 exam for your job, a quick glance below might be just what you need. This means that the series 7 is a corequisite exam for the series 66. I did return to take the two greenlight exams in stc, in which i scored an. If you miss the question, you get an easier question. I hold a 7 66 24 and try to break down the complicated issues into more management ideas. Persons who take the series 66 exam must also pass the series 7 exam prior to registering with their states regulatory commission. Differences between the series 65 and the series 66 hedge. The series 66 is equivalent to taking both the series 63 and series 65. How to ace the grueling series 65 exam and keep your wits and. The series 66 exam has a little more state law and some esoteric investment products.
However, a person taking the series 66 must also take and pass the series 7 general securities registered representative exam before registering with a state regulatory commission. Series 65 and series 66 passing grade increased hedge. To avoid overlap with the series 7, nasaa assembled a committee of securities industry experts to eliminate questions in the series 66 that would be duplicative of those in the series 7. Jul, 2008 the series x tests are to get you securities liscense. This process makes sure each exam meets content specifications, ensuring each series 66 exam has the same difficulty level. I must take issue with the statement that the series 66 exam is easier to pass than the series 65 for those with a series 7 registration. As a result, the series 66 exam is considered by most to be an easier test. Determining which exam you should take will depend on your. So if you have series 7, opt for the 66, its a little shorter. We offer a variety of instruction options and exam prep study tools to best suit.
The timer of the exam will not stop once the exam starts. This series 66 study guide includes series 66 practice test questions. Morgan stanley exam taker barred for fudging score to keep job. Series 66 uniform combined state law examination exam. The questions on the series 66 exam focus on the following areas. The series 63, uniform securities agent state law examination, is the state law test for brokerdealer representatives the series 65, uniform investment adviser law examination, is for investment adviser representatives passing the series 66, the uniform combined state law examination, qualifies an individual as if he or she had passed both the series 63 and series 65. Its not hard, and if it is hard, id wonder if this was the long term field for you no offense. May 07, 2014 i have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. I got a 90 on the series 7, studied hard for the 66 only to fail with scores of 71 and 73. Series 66 uniform combined state law examination exam what. On the gmat your answer to the first multiplechoice question determines the difficulty of the next question presented to you. The series 65 exam is administered at prometric testing centers in the u.
The series 66 is proving to be extremely difficult. Theyve also recorded pass rates for the series 7 exam at 96% and 98% for the series 79. Only individuals who have completed or will complete the series 7 exam may take the series 66 exam. Passing the series 66, the uniform combined state law examination, qualifies an individual as if he or she had passed both the series 63 and series 65. Prepare with our series 66 exam questions to help you pass your exam and. Pass the 66 online training videos learn the series 66 in a whole new language. Other pass rates for the series 7, series 82 and the series 55 are 95%, 97. May 21, 2019 the series 66 is a combination of the series 63 exam and the series 65 exam. The uniform combined state law examination was developed by nasaa based on industry requests.
Series 66 exam nasaa uniform combined state law exam passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. I hold a 76624 and try to break down the complicated issues into more management ideas. The series 65 and 66 exams can be difficult for people without any investment experience. I dont have the series 63, 86 or the 87 so i would rank them. Since most training vendors have access to the same information that is tested, the real key to success is preperation. Series 66 exam nasaa uniform combined state law exam. Remember to click the finish exam link at the bottom of the page once you. This test contains no investment material, as the series 66 license is only available to candidates that are already series 7 licensed. Finras series 6 exam difficulty level needs some explaining. If people are having trouble, or looking for help in passing these exams, please check out. Series 66 is developed by the north american securities administrators association nasaa and administered by the financial industry regulatory authority.
You can likely count on one hand the number of times that you will need your calculator for the sie exam. The pass perfect process for exam studying is thorough, and works. I have my series 7 and 66, i personally thought that the series 66 was harder that the series 7. I have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. Since its revision in jan,10, the series 66 exam has vastly increased in difficulty and an increase in the national fail rate some 50%. How to ace the grueling series 65 exam and keep your wits. There are several key differences between the series 65 and series 66 exams. For most candidates, the combination of reading the textbook and taking as many practice questions as they can proves to. Of the 110 questions, 100 will count toward your score. Apply to financial advisor, chief operating officer, participant and more. Differences between the series 65 and the series 66. Series 66 this series 66 is the newest exam offered by nasaa. A score of at least 73% on the series 66 exam is needed to pass and become eligible for registration as a registered investment adviser representative.
It was developed by north american securities administrators association nasaa and operated by the financial industry regulatory authority finra the uniform combined state law examination. Series 66 is an exam administered by the financial industry regulatory authority finra. Mar 23, 2012 the series 66 is equivalent to taking both the series 63 and series 65. First, lets look at the content breakdown and number of questions for each exam.