The 66 was designed for advisers that want to do feebased or fee. So, pace yourself carefully to get through all questions, and then come back to deal with the baffling ones after youve made it through the entire exam. Ive done some research and found out that 66 is equivalent to series 63 and 65 combined. Sep 01, 2016 the series 66 is a combo of the series 63 and the series 65. Differences between the series 65 and the series 66 hedge fund. Our experience with many thousands of students who have taken these tests indicates differently. Our level of experience and expertise is unmatched. Targeted at investment advisers who have not taken the series 7, the series 65 exam consists of 140 questions, all to be completed within 180 minutes. And i have to take the 7 under sponsorship of my firm. Both the 65 and the 66 qualify you to become an investment adviser representative.
People with series 6 take series 65 instead of 66 because it. Compared to broader designations out there like the cfp exam, though, the cfp exam is way. The series 7 examination and why you need to pass it. Uniform investment adviser law examination, also called the series 65 exam, is a test taken by individuals in the united states who seek to become licensed investment adviser representatives. How to get a series 66 license series 66 exam info. Differences between the series 65 and the series 66. Conventional wisdom suggests that the level of difficulty is the same for the series 65 and series 66. A general overview of finras series 6, 7, 63, 65 and 66 exams. Both series 65 and 66 licensing exams are hard but it would be. The series 66 is sometimes viewed as the easier exam between series 65 and 66 because its focus is more narrow. Series 66 exam nasaa uniform combined state law exam. Series 766 exam details kaplan financial education.
It will, like the series 65, qualify the individual to act. Getting the series 66 license fulfills the requirements of both the series 63 and series 65 licenses. The series 65 and 66 exams can be difficult for people without any investment experience. Keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. To get off to a strong start with your exam prep, be sure to follow the advice provided in the series 65 and series 66 at a. After passing the series 65, you have two years to become registered with a state otherwise the exam will show expired in the central registration depository, and you will have to sit for the. Passing the series 66 is the equivalent of passing the series 65 and 63. The exam covers topics necessary to provide investment advice to clients. If you have not passed the series 7 or will not be taking the. I must take issue with the statement that the series 66 exam is. In essence, it combines the series 63 and 65 exams into one 150minute exam. I believe, anecdotally, the answer choices on the 65 and 66 seem to be more subjective thus leading to lower scores.
Heres my experience studying for, taking and passing the series 65 exam to become an investment advisor. Passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. The series 7 exam is integral for any person wishing to sell securities. They are both licenses that allow the individual to give. If you get stuck in a long and wordy question, the time can fly by. In order to take the series 66 exam, you must be a series 7 license holder, or be taking the series 7 license exam concurrently with the series 66 license exam. The 63 is entirely focused on rules, laws and regulations. If you are earning your series 7, you will also have to pass the new sie exam.
The series 63, series 65, and series 66 licenses are required by securities administrators in. People who take the 66 are usually people who already have passed the series 7 exam. Get that one right, and the difficulty level will rise, allowing you to score more points. Currently, questions on the exam have not been modified and are based on the status of the law as of 12312019. Career question how difficult are the various finra series. Empire stockbroker training institute sie, series 7. This would generally be a good idea because the series 66 exam is easier than the series 65 exam and managers should be able to pass the. The exam consists of material from the series 66 and product information from the series 7, in addition to portfolio management, ethics, client profiles, and risk evaluation. Jan 18, 2017 instead, it focuses on investment advisor regulation and state law for investment advisor and brokerdealer representatives. The series 65 exam, called the uniform investment adviser law. The free series 65 practice test will assist you in passing the series 65 exam, which is a test that is used to. Mar 25, 2012 the series 66 is equivalent to taking both the series 63 and series 65. The 66 was designed for advisers that want to do feebased or feeonly advice and have neither the 63 nor the 65.
Comments on the series 65 and series 66 exam hedge fund. Uniform investment adviser law examination, also called the series 65 exam, is a test taken by individuals in the united states who seek to become licensed investment adviser. I have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. The exams cover the same material, but series 65 is for candidates with the. The series 66 exam contains topics covered in the series 63 and series 65 exams without duplication of the series 7. Comments on the series 65 and series 66 exam hedge fund law. This means that the series 7 is a corequisite exam for the series 66. I hold a 7 66 24 and try to break down the complicated issues into more management ideas. So if youre at a brokerdealer and youre going to be a hybrid, getting paid for investment advice or managing investment accounts and also for selling securities products for a commission, you would typically take the series 66, along with the series 7.
The series 65 and series 66 investment advisor representative licenses are required for an individual to charge for giving investment advice or related activities. An applicant with a series 7 license will almost always have an easier time passing the series 65 than the 66 and there are several. The series 65, on the other hand, generates 140 questions randomly when you fire up your testno adaptations to what youre doing whatsoever on this exam. This is the most often asked question i get in my classes, closely followed by. Series 66 the 66, which is the 63 65 combination is difficult. May 07, 2014 i have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. Whats a harder test series 66 or series 63 answers.
The series 66 exam is 100 questions versus the series 65 exams questions. Can i expect the series 7 to be harder than the 65 or just more detailed on certain subjects. 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. This test contains no investment material, as the series 66 license is only available to candidates that are already series 7 licensed. Empire stockbroker training institute provides toplevel books and training for the sie exam, series 7, series 6, series 66, series 24, series 65, and more. The series 65 is a securities license required by most u. Instead, it focuses on investment advisor regulation and state law for investment advisor and brokerdealer representatives. In order to take the series 66 exam, you must be a series 7 license holder. Jun 19, 2007 the 66 is a combination of the 63 and the 65. It will, like the series 65, qualify the individual. The 63 questions is easy, but the 65, iar exam, is not as easy. The series 65 examination is required by most states for individuals that act as investment adviser representatives. Mar 18, 2019 getting the series 66 license fulfills the requirements of both the series 63 and series 65 licenses.
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 65 exam, heshe must correctly answer at. The series 66 license is only an option if you have, or are obtaining, the series 7 license. Generally, for those persons with the series 7 license, the series 66 exam is easier to pass than the series 65. Many of them have taken the series 6 and 63, which are much easier than the 65. Determining which exam you should take will depend on your. The 66 exam is more of a rules test than the series 65. The nasaa series 66, uniform combined state law examination is required of individuals acting as or soliciting for the service of investment advisors and. May 21, 2019 keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. Anecdotally, they have a lower pass rate than the finra exams. As a result, the series 66 exam is considered by most to be an easier test. While the series 65 is a larger test the passing score is only 72%.
Differences between the series 65 and the series 66 hedge. A little easier than the series 7, maybe comparable as well to the series 6. Should i take the series 65 or series 66 exam securities ce. If you have not passed the series 7 or will not be taking the series 7 exam you must take the series 65 exam. The 66 is harder because it tests you on the information that the 63 tests you on and addition has questions that the 65 tests you on. It will, like the series 65, qualify the individual to act as an iar, and it fulfills the requirements of the. I hold a 76624 and try to break down the complicated issues. How to pass the series 6566 exams knopman marks financial. Series 66 this series 66 is the newest exam offered by nasaa. Series 65 nasaa uniform investment adviser law exam. May 01, 2018 the series 63 allows only 75 minutes for completion of 65 questions 60 are scored and 5 are experimental and unscored.
Yet, series 66 is a corequisite to series 7 and therefore useless by itself. The series 65 exam the nasaa investment advisers law examination is a north american securities administrators association nasaa exam administered by finra. A general overview of finras series 6, 7, 63, 65 and 66. The north american securities administrators association has announced that it will implement updates to the series 63, series 65 and series 66 examinations on july 1. So, which test is easier, the series 65 or series 66. Seeing as though you already have the 63, go for the easier 65. The series 66 is equivalent to taking both the series 63 and series 65. Series 65 uniform investment adviser law examination and series 66 uniform combined state law examination. The series 65 exam includes a broad range of product, analysis, strategy and economics. I sat for the series 66 without study and scored a 65. If you want to sell securities that require a series 7 license and charge a fee to give securities advice, you can skip taking both the series 63 and series 65 and instead take the combination series 66 exam.
Regarding the post differences between the series 65 and series 66 exam, i received the following comment. If you miss the question, you get an easier question. Think about hard test, easier test and then easing into the 65 test. First, the passing score for the series 66 is 71%, while you only need a 68. Over the last several years, i have spent my time trying to figure out why the nasaa series 65 and 66 exams have lower pass rates then the finra series 6 and 7 exams. Although the tests are separate, with different prerequisites, the subject matter is almost identical. There are several key differences between the series 65 and series 66 exams. I have never heard of anyone taking the 65 or 66 11 times. The series 65 exam is administered at prometric testing centers in the u. If an individual does not already have a series 7 and wishes to be an iar, the series 65 is nasaas competency exam. If that individual wishes to register as a securities sales representative, which is necessary to accept commissions, the series 63.
Ive done some research and found out that 66 is equivalent to series 63 and 65 combined but easier because it omits some of the materials covered in series 7. Nasaa is in the process of updating questions on the series 63, 65, and 66 exams in light of the recently enacted secure act. Stc was very good for the series 7, but the 66 was terrible, and considering the 65. You wont pass with flying colors but you can prepare with it with minimal effot. How to ace the grueling series 65 exam and keep your.
The free series 65 practice test will assist you in passing the series 65 exam, which is a test that is used to assess the testtakers knowledge and ability to perform adequately as an investment advisor. There are lots of series exam providers online that. This is the only license required if an individual acts as an investment adviser representative. What is a harder test series 65 or series 66 answers. Pass perfect is a leading developer of targeted, effective training programs for the securities licensing exams. It will, like the series 65, qualify the individual to act as an iar, and.