Getting any series exam out of the way is a major accomplishment. A general overview of finras series 6, 7, 63, 65 and 66 exams. The series 63, series 65, and series 66 licenses are required by securities administrators in. Series 65 exam prep tips and best study guides michael kitces. 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. I hold a 76624 and try to break down the complicated issues into more management ideas. The 63 is entirely focused on rules, laws and regulations. Both series 65 and 66 licensing exams are hard but it would be easy to pass if you prepare and study well before the actual licensing exam. 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. Both the 65 and the 66 qualify you to become an investment adviser representative. How to get a series 66 license series 66 exam info. The series 65 and 66 exams can be difficult for people without any investment experience.
The series 65 exam includes a broad range of product, analysis, strategy and economics. While it is true that the questions might be of comparable difficulty, the. The series 65 is a securities license required by most u. Again, for series 7 students you will be taking two exams 63 and 65 as opposed to one.
Although the tests are separate, with different prerequisites, the subject matter is almost identical. Also, the passing score is 72% as opposed to 75% for the 66. The series 66 is equivalent to taking both the series 63 and series 65. 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.
The series 66 satisfies series 65 and series 63 exam requirements, but series 7 registration is a corequisite for the series 66. Series 63 blue sky laws exam is quite simple if you put the effort into it. Why the sie exam isnt best to become a financial advisor. As a result, the series 66 exam is considered by most to be an easier test. This test contains no investment material, as the series 66 license is only available to candidates that are already series 7 licensed.
The series 66 exam is 100 questions versus the series 65 exams questions. Mar 25, 2012 the series 66 is equivalent to taking both the series 63 and series 65. 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. May 21, 2019 keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. 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 series 65 exam is administered at prometric testing centers in the u. And i have to take the 7 under sponsorship of my firm. To take the series 7 exam, a candidate must be sponsored by a finra member firm, which will file the uniform application for securities industry registration or.
The series 66 exam contains topics covered in the series 63 and series 65 exams without duplication of the series 7. 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 believe, anecdotally, the answer choices on the 65 and 66 seem to be more subjective thus leading to lower scores. It will, like the series 65, qualify the individual to act. Should i take the series 65 or series 66 exam securities ce. Currently, questions on the exam have not been modified and are based on the status of the law as of 12312019. In essence, it combines the series 63 and 65 exams into one 150minute exam. If you are earning your series 7, you will also have to pass the new sie exam. Most people i help with the series 65 work in the insurance industry. The bad news is the questions on series 66 generally require a deeper understanding of the industry.
The 66 exam is more of a rules test than the series 65. If an individual does not already have a series 7 and wishes to be an iar, the series 65 is nasaas competency exam. This means that the series 7 is a corequisite exam for the series 66. These sections are excluded because they are tested as part of the series 7, which is a prerequisite for taking the series 66. Determining which exam you should take will depend on your particular. You wont pass with flying colors but you can prepare with it with minimal effot. So, which test is easier, the series 65 or series 66. After reading so many blogs on both 65 and 66 tests and study materials ive ordered the tc materials. The difference between the exams is the break down and the required passing score. Career question how difficult are the various finra series.
The 65 exam, in contrast, is more difficult for people. The series 65 exam includes a broad range of product, analysis, strategy and economics questions. 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. If you get stuck in a long and wordy question, the time can fly by. 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. Over the last 20 years, we have successfully trained over 1,000,000 individuals for these exams. I just passed the series 7 after a month of cramming with a 78% but also in part due. Passing the series 65 uniform investment adviser law exam is one of the registration requirements for investment advisers. The 65 will often, simply ask which option is bullishbearish. Get that one right, and the difficulty level will rise, allowing you to score more points. It is my impression that you must take series 66 since you do. May 01, 2018 the series 63 allows only 75 minutes for completion of 65 questions 60 are scored and 5 are experimental and unscored. Getting the series 66 license fulfills the requirements of both the series 63 and series 65 licenses. Differences between the series 65 and the series 66.
Oct 12, 2011 both series 65 and 66 licensing exams are hard but it would be easy to pass if you prepare and study well before the actual licensing exam. It will, like the series 65, qualify the individual to act as an iar, and it. Comments on the series 65 and series 66 exam hedge fund law. First, the passing score for the series 66 is 71%, while you only need a 68. Seeing as though you already have the 63, go for the easier 65. A little easier than the series 7, maybe comparable as well to the series 6. Tips to prepare for the series 65 exam, and recommendations on the best exam prep and. Career question how difficult are the various finra.
My firm provides stc and i used that last month for the series 7 which i got 87%. I have never heard of anyone taking the 65 or 66 11 times. 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. Yet, series 66 is a corequisite to series 7 and therefore useless by itself. This, of course, can be done in most states by taking and passing either the series 65 or 66 exam and registering as an iaiar with either the sec or the states in which the adviser operates. Many of them have taken the series 6 and 63, which are much easier than the 65. Whats a harder test series 66 or series 63 answers. I have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. I sat for the series 66 without study and scored a 65. 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. Series 66 the 66, which is the 63 65 combination is difficult. The series 65 and series 66 investment advisor representative licenses are required for an individual to charge for giving investment advice or related activities. I hold a 7 66 24 and try to break down the complicated issues into more management ideas.
It will, like the series 65, qualify the individual to act as an iar, and it fulfills the requirements of the uniform. If an individual does not already have a series 7 and wishes to be an iar, the. Jul 03, 2015 a relatively easy question for a series 7 student. In addition, michael has an undergraduate degree as well as an mba in finance and is a cfa charterholder. The 63 questions is easy, but the 65, iar exam, is not as easy. Did you pass the series 66 and did you think it was easier. The series 66 license is only an option if you have, or are obtaining, the series 7 license. The series 66 is essentially a combination of series 63 and series 65 exams that excludes the product, analysis and strategy questions.
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. The good news is series 66 is shorter than series 65 since the latter includes parts of series 7. Jan 18, 2017 instead, it focuses on investment advisor regulation and state law for investment advisor and brokerdealer representatives. The exam includes scored and 10 randomly placed unscored. Which means college students who take the sie exam to become a financial advisor are going down the wrong path because what they should be doing is trying to find a paraplanner job and then later perhaps studying for the series 65, not the sie exam.
If you benefit from these materials, just click the link below. The series 65 and series 66 are qualification examinations for people who want to pursue careers as investment professionals. This series fulfills the requirements of both the series 63 and series 65. Oct 26, 2008 since i dont have a sponsor, im thinking of writing the series 66 or series 63 and 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 soliciting the purchase or sale of securities within a state. If people are having trouble, or looking for help in passing these exams, please check out.
So if you have series 7, opt for the 66, its a little shorter. In order for a candidate to pass the series 65 exam, heshe must correctly answer at least 94 of the scored questions. This is the only license required if an individual acts as an investment adviser representative. The 65 is approximately 70% investments and 30% lawsregulations. After reading so many threads on the subject, i was discouraged to use stc and asked my firm. Sep 01, 2016 the series 66 is a combo of the series 63 and the series 65. It will, like the series 65, qualify the individual to act as an iar, and. This test contains no investment material, as the series 66 license is only available to.
Second, the series 66 is focused more heavily on rules and regulations, so if you dont like a lot of longwinded questions on securities regulations, youre in big trouble. Jul, 2008 whats a harder test series 66 or series 63. A general overview of finras series 6, 7, 63, 65 and 66. Series 66 the 66, which is the 6365 combination is difficult. Series 66 this series 66 is the newest exam offered by nasaa. Heres my experience studying for, taking and passing the series 65 exam to become an. It will, like the series 65, qualify the individual to act as an iar, and it fulfills the requirements of the usa for.
Whether or not this registration is required, however, will likely be decided at least initially on a firmbyfirm basis. Passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. People who take the 66 are usually people who already have passed the series 7 exam. But, just because that longer test is out of the way, does not mean you can take the much shorter series 63 for granted.
Compared to broader designations out there like the cfp exam, though, the cfp exam is way, way harder and more complex than the series 65. Jun 19, 2007 the 66 is a combination of the 63 and the 65. To compliment our series 65 book, we also offer extensive flashcards for even more series 65 exam prep help. Differences between the series 65 and the series 66 hedge fund. Generally, for those persons with the series 7 license, the series 66 exam is easier to pass than the series 65. Pass perfect is a leading developer of targeted, effective training programs for the securities licensing exams.
Our experience with many thousands of students who have taken these tests indicates differently. The series 66 is sometimes viewed as the easier exam between series 65 and 66 because its focus is more narrow. Check out our premium series 65 study guide to take your studying to the next level. If you miss the question, you get an easier question. Keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. What is a harder test series 65 or series 66 answers. The series 65 is for people who do not hold a series 7. Our level of experience and expertise is unmatched. The series 65 exam, called the uniform investment adviser law.
Regarding the post differences between the series 65 and series 66 exam, i received the following comment. Comments on the series 65 and series 66 exam hedge fund. The series 65 examination is required by most states for individuals that act as investment adviser representatives. People with series 6 take series 65 instead of 66 because it.
The 63 is a joke, but i hear the 6566 is a good bit harder than the 63, but less. If youre preparing to take the series 63 exam, chances are you have recently passed another exam like the series 7, series 79 or series 6. The series 65 exam is extremely challenging, and thorough test preparation is essential for success. Nasaa is in the process of updating questions on the series 63, 65, and 66 exams in light of the recently enacted secure act. What is the difference between the series 63, 65, and 66. Series 65 exam secrets study guide is the ideal prep solution for anyone who wants to pass the series 65. Conventional wisdom suggests that the level of difficulty is the same for the series 65 and series 66. 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 66 was designed for advisers that want to do feebased or feeonly advice and have neither the 63 nor the 65.
Differences between the series 65 and the series 66 hedge. Series 766 exam details kaplan financial education. Can i expect the series 7 to be harder than the 65 or just more detailed on certain subjects. Financial academy series 65 ondemand course instruction is fast and efficient with plenty of practice questions you control the pace, with an instructor assigned to you to answer questions, provide guidance and help you stay on track. I used both stc and kaplan in the past and had good and not so good results. How to ace the grueling series 65 exam and keep your. Apr 11, 2019 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. If you are not planning on getting the series 7 license, then you must take the series 65 license exam instead. While the series 65 is a larger test the passing score is only 72%. There are several key differences between the series 65 and series 66 exams. Since i dont have a sponsor, im thinking of writing the series 66 or series 63 and 65. 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 obvious reasons for this.
While the series 65 is a larger test the passing score is only 72 %. 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. Passing the series 66 is the equivalent of passing the series 65 and 63. The series 65 exam the nasaa investment advisers law examination is a north american securities administrators association nasaa exam administered by finra.