Series 66 (Uniform Combined State Law)
NASAA/FINRA
Complete guide to passing the Series 66 (Uniform Combined State Law) exam on your first attempt.
$177
~72%
Ongoing
USA
NASAA/FINRA
$80k-$150k
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Complete Overview
The Series 66, formally the Uniform Combined State Law Examination, is a NASAA exam administered by FINRA that qualifies a candidate in two capacities at once: as a broker-dealer agent and as an investment adviser representative. NASAA lists the fee as $177, paid to FINRA when an employing firm files an electronic Form U4 or when a candidate opens an enrollment window through FINRA.org.
The exam form has 110 questions: 100 scored plus 10 unscored pretest items. You get 150 minutes and you pass with at least 73 of the 100 scored questions correct. NASAA developed the Series 66 in response to industry requests so that a person needing both registrations could sit one exam instead of the Series 63 and the Series 65 separately.
There is no prerequisite for the Series 66, but the Series 7 is a co-requisite. NASAA states you may take either exam first, though both must be completed satisfactorily before you can apply to register with a state. In practice that also means holding a valid Securities Industry Essentials exam, since the SIE sits under the Series 7. This is the structural difference that decides which exam a candidate takes: a broker-dealer representative who already needs the Series 7 usually takes the Series 66, while someone entering fee-only advice with no broker-dealer affiliation takes the Series 65 instead.
The current test specification took effect June 12, 2023 and is weighted very differently from the Series 65. Laws, regulations and guidelines including prohibition on unethical business practices carries 45 percent, or 45 of the 100 scored questions. Client and customer investment recommendations and strategies is 30 percent, or 30 questions. Investment vehicle characteristics is 17 percent, and economic factors and business information only 8 percent. NASAA trimmed the product and economics content precisely because the Series 7 already covers it, so the Series 66 leans hard on state law, fiduciary duty and prohibited conduct.
One quirk catches people years after they pass. In CRD, the validity of a passed Series 66 always displays as expired two years after the exam date, even for someone continuously registered. NASAA explains that the Series 66 does not maintain validity as a single exam. Instead, registering as a broker-dealer agent issues a Series 63 exam credit and registering as an investment adviser representative issues a Series 65 credit, and each credit tracks its own validity against your registration history. To extend both parts under NASAA's Exam Validity Extension Program, an individual has to enrol both the Series 63 and Series 65 credits, where applicable. The exam is closed book and the result is delivered on screen immediately after you submit.
Why Get Series 66 (Uniform Combined State Law) Certified?
One 150-minute sitting covers both state registrations. Taking the Series 63 and Series 65 separately means 255 minutes of testing and $334 in fees against $177 and 150 minutes for the Series 66.
It is the standard exam for dually registered professionals who sell securities at a broker-dealer and also give advice for a fee. No professional designation substitutes for it: NASAA waives only the Series 65 for a CFP, ChFC, MSFS, CFA, PFS or CIMA, so a designation holder who also needs broker-dealer agent registration still sits an exam.
The blueprint is 75 percent law and client strategy: 45 scored questions on laws, regulations and prohibited practices plus 30 on client recommendations. That is where a dually registered adviser's regulatory exposure actually sits.
Product and economics content is deliberately light, 8 percent and 17 percent, because the Series 7 co-requisite already tests it. If you are studying for the Series 7 in parallel, the overlap works in your favour.
You can sit the Series 66 before the Series 7. NASAA states either exam can come first as long as both are completed before you apply for state registration.
Passing issues two separate exam credits in CRD, a Series 63 credit when you register as a broker-dealer agent and a Series 65 credit when you register as an investment adviser representative, so a single result supports both registration tracks.
The result arrives on screen the moment you submit, and a fail report breaks your performance down by the four topic areas so a retake plan writes itself.
Exam Format & Structure
Duration
150 minutes
Questions
110 questions on the form: 100 scored plus 10 unscored pretest questions
Passing Score
73 of the 100 scored questions. NASAA states the passing score is based on the overall exam and warns that averaging your section scores will not reproduce it, because the parts are weighted differently
Question Types
- Multiple choice, closed book
- Unidentified pretest items distributed through the form
- Applied questions comparing the suitability obligation of a broker-dealer agent with the fiduciary obligation of an adviser representative
- Calculation items on time value of money, ratios, valuation multiples and portfolio returns
Delivery Method
Computer-based testing at Prometric test centers. FINRA states the Series 66 is available online only for candidates who require a testing accommodation, and NASAA limits online delivery to candidates who are immunocompromised and at increased risk for severe illness
Exam Domains & Topics
Only eight scored questions, and the specification narrows them to analytical methods alone. Where the Series 65 also tests business cycles, monetary policy and financial statements, the Series 66 keeps just time value of money, descriptive statistics, financial ratios and valuation multiples, on the assumption that the Series 7 covers the rest.
Key Topics to Master:
- Internal rate of return, net present value and future value
- Mean, median, mode, range and standard deviation
- Alpha, beta, Sharpe ratio and correlation
- Current ratio, quick ratio and debt-to-equity ratio
- Price-to-earnings and price-to-book valuation
Seventeen scored questions on products, focused on valuation factors rather than mechanics. Fixed income appears as valuation factors only, equities as types, characteristics and valuation methods, and there is a full block on pooled investments, alternatives, insurance-based products, commodities and digital assets.
Key Topics to Master:
- Insured deposits, commercial paper and Treasury bills
- Duration, maturity, yield to call, yield to maturity, coupon, conversion valuation, bond ratings and credit spread
- Common stock, ADRs, preferred, convertible preferred and floating rate preferred
- Technical analysis, fundamental analysis, dividend discount and discounted cash flow
- IPOs, secondary offerings and special purpose acquisition companies
- Open-end and closed-end funds, UITs, ETFs, REITs, hedge funds, private equity and venture capital
- Share classes, net asset value, discount and premium pricing, fee structures and benchmarks
- Leveraged and inverse funds, structured products, exchange traded notes, futures and options definitions
- Fixed, variable and indexed annuities, life insurance types, commodities, precious metals and digital assets
Thirty scored questions covering the full advisory workflow: identifying the client entity, building the profile, applying capital market theory, choosing strategies and styles, handling tax and retirement accounts, structuring ownership, executing trades and measuring performance. The specification uses the phrase client and customer throughout because the exam covers both relationships.
Key Topics to Master:
- Individuals, partnerships, LLCs, C and S corporations, trusts, estates, foundations and charities
- Client profile: goals, cash flow, balance sheet, tax situation, Social Security and pensions, risk tolerance, time horizon
- Behavioural finance and nonfinancial considerations including environmental, social, governance and religious criteria
- CAPM, Modern Portfolio Theory and the Efficient Market Hypothesis
- Strategic and tactical allocation, active, passive, growth, value, income and capital appreciation styles
- Capital gains, qualified dividends, tax basis, marginal bracket, AMT, retirement plan distributions, estate and gift tax
- IRAs, Solo 401(k), 401(k), 403(b), 457, SIMPLE, SEP, nonqualified plans and ERISA fiduciary issues
- 529 plans, Coverdell, UTMA and UGMA, HSAs, JTWROS, TIC, TBE, TOD, POD, QDROs and donor advised funds
- Order types, margin and cash accounts, payment for order flow, best execution and the full list of return measures
Forty-five scored questions, nearly half the exam and the single reason the Series 66 rewards a law-first study plan. It covers adviser and adviser representative regulation, broker-dealer and agent regulation, securities and issuer registration, administrator remedies, communications, and an extensive fiduciary and ethics block that names custody, soft dollars and political contributions individually.
Key Topics to Master:
- Investment adviser and exempt reporting adviser definitions, notice filing, books and records
- Investment adviser representative registration, uniform form updates, continuing education and reportable events
- Broker-dealer and agent definitions, registration, exclusions and supervision
- Securities and issuer definitions, state registration, exemptions and antifraud authority
- Authority of the state administrator, administrative actions, penalties and liabilities
- Required disclosures, unlawful representations about registration, performance guarantee prohibition, client contracts
- Correspondence, advertising, social media, email and website communications
- Fees, commissions, performance-based fees, soft dollars, compensation disclosure, custody, discretion, trading authorization and AML
- Insider trading, selling away, market manipulation, political contributions, outside accounts, exploitation of vulnerable adults, cyber security and business continuity
Recommended Study Plan
- 1Download the NASAA Series 66 test specifications effective June 12, 2023 and write the weights on your first page: 8, 17, 30 and 45 percent
- 2Build a side-by-side table of the broker-dealer agent obligation and the investment adviser representative fiduciary obligation, since the exam constantly puts them together
- 3Confirm your Series 7 status. NASAA allows either exam first, but both must be complete before state registration
- 4Open the enrollment window and note the 120-day expiry date in your calendar
- 5Take a 50-question diagnostic weighted 8, 17, 30, 45 to find your starting gap
- 1Study the investment adviser definition, exempt reporting advisers, notice filing and books and records requirements
- 2Learn investment adviser representative registration, exclusions, registration authority and reportable event disclosure
- 3Cover the continuing education obligation that attaches to IAR registration in adopting states
- 4Study supervision of investment adviser representatives
- 5Answer 60 questions restricted to topic IV sub-sections A and B
- 1Study broker-dealer registration, exclusions and agent supervision
- 2Drill agent registration, effectiveness, transfers and uniform form updates
- 3Separate exempt securities from exempt transactions into two memorised lists
- 4Study state registration and post-registration requirements for securities and issuers, plus antifraud authority
- 5Answer 60 questions on topic IV sub-sections C, D and E
- 1Map the state administrator's authority: investigations, hearings, cease and desist and stop orders, denial, suspension and revocation
- 2Separate administrative remedies from civil liability and criminal penalties, including who imposes each
- 3Study required product and client disclosures and the prohibition on guaranteeing performance
- 4Learn the rules for client contracts and customer agreements, correspondence, advertising, social media, email and website communications
- 5Answer 50 questions on topic IV sub-sections F and G
- 1Study fees, commissions, performance-based fees, soft dollars and compensation disclosure
- 2Separate custody, discretion and trading authorization, and learn what each requires and triggers
- 3Study anti-money laundering obligations and the recommendation and advice standard of care
- 4Memorise the prohibited conduct list: insider trading, selling away, market manipulation, political contributions, personal securities transactions, outside accounts, initial holdings and quarterly reports, excessive trading, exploitation of vulnerable adults
- 5Cover cyber security, privacy and data protection, and business continuity including disaster recovery and succession planning
- 1Map the client entity types and how each affects taxation and account titling
- 2Build a profiling checklist covering goals, cash flow, balance sheet, existing investments, tax situation, Social Security and pensions, risk tolerance and time horizon
- 3Study behavioural finance and the nonfinancial considerations NASAA lists
- 4Compare CAPM, Modern Portfolio Theory and the Efficient Market Hypothesis as three distinct models
- 5Answer 40 questions on topic III sub-sections A, B and C
- 1Study strategic and tactical allocation, the six named styles and the eight named techniques including high frequency trading and inverse strategies
- 2Work capital gains, qualified dividends, tax basis, marginal bracket, AMT and required minimum distributions
- 3Compare traditional and Roth IRAs, Solo 401(k), 401(k), 403(b), 457, SIMPLE, SEP and nonqualified plans
- 4Learn 529 plans, Coverdell, UTMA and UGMA, HSAs, and the ownership forms JTWROS, TIC, TBE and community property with rights of survivorship
- 5Answer 60 questions on topic III sub-sections D through I
- 1Study fixed income valuation factors: duration, maturity, yield to call, yield to maturity, coupon, conversion valuation, bond ratings and credit spread
- 2Work equity valuation methods and shareholder rights, restricted stock and employee stock options
- 3Study pooled investments, share classes, net asset value, discounts and premiums, plus leveraged, inverse and structured products
- 4Drill IRR, NPV, future value, the ratio set and price-to-earnings and price-to-book on a four-function calculator
- 5Answer 50 questions across topics I and II
- 1Study order types, short sales, cash and margin accounts, principal versus agency trades, payment for order flow and best execution
- 2Learn the role of introducing and clearing broker-dealers, custodians, market makers and exchanges
- 3Work every return measure the specification names, from risk-adjusted through after-tax
- 4Rebuild your error log by topic area and convert it to raw question counts against 8, 17, 30 and 45
- 5Spend the remaining time only on areas scoring below 75 percent
- 1Sit three timed 100-question practice exams in single 150-minute sittings
- 2Score each by the four topic areas in raw questions rather than percentages
- 3Reread the whole ethical practices block, since it carries the densest cluster of scored questions
- 4Confirm your government-issued photo ID is unexpired and the name matches your appointment exactly
- 5Review the FINRA test center page so the 30-minute arrival, locker inspection and restroom-only break rules are settled
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Best Study Resources
NASAA Series 66 test specifications (June 2023)
Official blueprint PDFThe four-area outline with weights and scored question counts, including the sub-topic list that shows how much lighter the economics section is than on the Series 65.
Free
NASAA Series 66 exam content outline page
Official exam pageNASAA's statement of the 100 scored plus 10 pretest questions, 150 minutes, the 73-question pass standard, the $177 fee and the Series 7 co-requisite.
Free
FINRA Series 66 exam page
Official exam pageFINRA's confirmation that there is no prerequisite but the Series 7 is a co-requisite, that online delivery is limited to accommodation candidates, and how the Exam Validity Extension Program treats the two component credits.
Free
NASAA exam FAQs
Official FAQExplains why a passed Series 66 always shows as expired in CRD after two years, why designations do not waive it, retake waiting periods and the January 4, 2027 change.
Free
NASAA investment adviser representative continuing education FAQ
Official FAQThe 12 credits a year requirement with its mandatory 6 and 6 split, the $3 per credit reporting fee, and how FINRA Regulatory Element can cover the Products and Practice half for a dually registered person.
Free
Kaplan Financial Education Series 66 packages
Commercial course and question bankLicense Exam Manual, question bank, checkpoint, practice and mastery exams, with self-study and instructor-led options. Kaplan sets a five-month online access period on its securities licensing courses.
Paid; price varies by package
FINRA Prepare for Your Test Center Appointment
Official policy pageThe exam-day procedure: 30-minute arrival, unexpired photo ID, locker and body inspection, supplied four-function calculator and note boards, restroom-only breaks and how the score report differs on a pass and a fail.
Free
FINRA testing accommodations guidance
Official accommodations pageHow to request extra time, a private room, a reader or paper-based delivery, with the requirement that approval precedes scheduling and that paper-based delivery needs 14 days notice.
Free
NASAA study material vendors list
Vendor directoryNASAA's directory of commercial Series 66 providers, published with the caveat that NASAA endorses no vendor and cannot vouch for the accuracy of commercial material.
Free
Common Mistakes to Avoid
Studying the Series 66 as a lighter Series 65.
The weights are inverted. Laws and regulations carry 45 percent on the Series 66 against 30 percent on the Series 65, while economics falls from 15 percent to 8. Forty-five of your 100 scored questions come from statute and prohibited conduct, so lead with the law block rather than saving it for the end.
Assuming a professional designation that waived the Series 65 will also waive the Series 66.
NASAA states plainly that it will not. A qualifying designation waives only the Series 65 requirement, because passing the Series 66 is equivalent to passing both the Series 63 and Series 65. A designation holder who needs broker-dealer agent registration still has to sit an exam.
Panicking when CRD shows a passed Series 66 as expired despite continuous registration.
NASAA explains that the Series 66 never maintains validity as a single exam. Registering as a broker-dealer agent issues a Series 63 credit and registering as an investment adviser representative issues a Series 65 credit, and each credit tracks separately against your registration history. The expired status on the Series 66 line does not reflect the validity of those credits.
Treating suitability and fiduciary duty as the same obligation.
The Series 66 qualifies you in both capacities, so questions routinely describe one fact pattern and ask what changes depending on which hat you are wearing. Build a two-column comparison covering disclosure, compensation, conflicts and the standard applied to a recommendation, and rehearse it until the switch is automatic.
Delaying the Series 7 on the assumption it must come first.
NASAA states you may take either exam first, as long as both are complete before you apply to register with a state. Many candidates sit the Series 66 while Series 7 material is still fresh, since the Series 66 deliberately thins out the product content the Series 7 already tests.
Enrolling only the Series 65 credit when using the Exam Validity Extension Program.
FINRA states that because the Series 66 qualifies an individual in two capacities, extending both parts requires enrolling both the Series 63 and Series 65 credits where applicable. Enrolling one leaves the other component exposed to the ordinary two-year rule.
Averaging practice section percentages to predict a pass.
NASAA states the passing score is based on the overall exam and the parts are weighted differently, so an average of your section scores is meaningless. Convert to raw questions: 8, 17, 30 and 45, and count how many of the 100 you actually got right against the 73 threshold.
Neglecting the retirement, estate and account ownership block because it feels like planning rather than law.
It sits inside the 30 scored questions of topic III and the specification names it in detail: IRAs, Solo 401(k), 403(b), 457, SIMPLE, SEP, ERISA, 529s, Coverdell, UTMA and UGMA, HSAs, JTWROS, TIC, TBE, TOD, POD, QDROs and donor advised funds. It rewards flat memorisation more than any other part of the exam.
Relying on material published before June 12, 2023.
That is the effective date of the current specification, which added digital assets, high frequency trading, cyber security and business continuity planning and aligned questions with the SECURE Act 2.0. Check the effective date on the cover of any manual or question bank before trusting it.
Exam Day Tips
- 1
Arrive at the Prometric center 30 minutes early. FINRA will not seat you if you are more than 30 minutes late and no seat can cover the full 150 minutes, and a new enrollment plus another $177 would be needed.
- 2
Bring one valid, unexpired government-issued photo ID with a signature. Expired IDs are no longer accepted and electronic, photocopied or faxed documents are refused. The name has to match the appointment exactly.
- 3
Everything else goes in a locker: phone, watch, wallet, jewellery and any recording device. FINRA states directly that you should not bring study materials to the test center.
- 4
You will be inspected before entry, including emptying pockets, pulling up trouser legs and pulling back sleeves, and your photograph will be taken.
- 5
Prometric supplies a four-function calculator, erasable note boards, dry-erase markers and noise-cancelling headphones, all of which must be returned. Do not plan around a financial calculator for the yield and time value questions.
- 6
Pace to 110 questions in 150 minutes, roughly 82 seconds each. The 45 scored law questions read faster than the 30 client strategy items, so bank time in the law block and spend it on the scenarios.
- 7
Breaks are restroom only, you cannot open your locker or leave the center, and the clock keeps running throughout.
- 8
You will agree to the NASAA Qualification Examinations Rules of Conduct at check-in, not the FINRA version, because the Series 66 is a NASAA exam that FINRA administers.
- 9
The result appears on screen immediately. A pass gives no score detail; a fail gives your overall score and your performance across the four topic areas, which is the only official diagnostic you will receive.
Career Paths & Salary Ranges
Dually registered financial advisor
The core Series 66 role. The individual is registered as a broker-dealer agent for commission business and as an investment adviser representative for fee-based accounts, which is exactly the pair of capacities the exam qualifies.
$80k-$150k
Wealth management advisor at a wirehouse or regional firm
Firms that offer both brokerage and advisory accounts typically require the SIE, the Series 7 and the Series 66 before an advisor can hold either account type for a client.
$80k-$150k
Private client adviser at a bank-affiliated broker-dealer
Advisers serving high net worth clients through a bank's brokerage arm need state registration in both capacities, which the Series 66 delivers in a single exam.
$80k-$150k
Hybrid RIA advisor
Advisers who run fee-based business through an independent registered investment adviser while retaining a broker-dealer affiliation for commission products need both registrations, and the Series 66 with the Series 7 is the usual combination.
$80k-$150k
Registration and licensing manager at a dual registrant
Licensing staff track Series 63 and Series 65 credits separately in CRD after a Series 66 pass, manage Exam Validity Extension Program enrolments and monitor investment adviser representative continuing education deficiencies.
$80k-$150k
Branch supervisor or compliance officer
Supervisors at a dual registrant apply both standards of care daily, from advertising review and soft dollar arrangements to custody and discretion documentation.
$80k-$150k
Prerequisites & Requirements
- There is no prerequisite exam for the Series 66 itself.
- The Series 7 is a co-requisite. NASAA states you may take either exam first, but both must be completed satisfactorily before you can apply to register with a state.
- Because the Series 7 sits behind the Securities Industry Essentials exam, a valid SIE result is also required to register using the Series 66.
- A qualifying professional designation does not substitute for the Series 66, even though it can substitute for the Series 65 in most states.
- Once the enrollment request is processed, FINRA opens a 120-day window within which the appointment must be taken.
- Passing the exam is not a licence. A state may still require a Form U4 application, background check, bonding and fee payment before granting registration.
Frequently Asked Questions
How many questions are on the Series 66 and how long is it?
The Series 66 form has 110 questions and a 150-minute limit. One hundred are scored and 10 are unscored pretest items. NASAA and FINRA both publish these figures, and the pretest items are not identified within the exam.
What is the passing score for the Series 66?
At least 73 of the 100 scored questions. NASAA states the passing score is based on the overall exam, and because the four topic areas are weighted differently at 8, 17, 30 and 45 percent, averaging section scores will not reproduce your result.
How much does the Series 66 cost?
NASAA lists the fee as $177, paid to FINRA. It is the same in every state. That compares with $147 for the Series 63 and $187 for the Series 65, so combining the two separate exams would cost $334 against $177 for the Series 66.
Do I need the Series 7 to take the Series 66?
The Series 7 is a co-requisite rather than a prerequisite. NASAA states there is no prerequisite for the Series 66, that you may take either exam first, and that both must be completed satisfactorily before you can apply to register with a state. FINRA confirms the same relationship on its Series 66 page.
What happens if I fail the Series 66?
You see the fail result on screen immediately, along with a results report giving your overall score and your performance in each topic area. A pass gives no score detail. To retest, your firm re-requests through CRD or you submit a new request to FINRA, another $177 fee applies, and a fresh 120-day scheduling window opens.
How long is the waiting period after failing the Series 66?
A minimum of 30 days after the first failure, 30 days after the second, and 180 days after a third failure within a two-year period. Attempts older than two years drop out of the count. NASAA has approved reducing the third-attempt wait to 60 days for enrollment windows opened on or after January 4, 2027, and will not apply the shorter period to windows opened before that date.
If I fail the Series 66, does the waiting period block me from the Series 63 or Series 65?
No. NASAA states the waiting period applies only to the specific exam you did not pass. A failed Series 66 does not prevent you from enrolling for the Series 63 or Series 65, which some candidates do to split the material into two smaller exams.
Why does my Series 66 show as expired in CRD even though I have stayed registered?
NASAA explains that in CRD the validity of a passed Series 66 always displays as expired two years after the exam date. The Series 66 does not maintain validity as a single exam. Registering as a broker-dealer agent issues a Series 63 exam credit and registering as an investment adviser representative issues a Series 65 credit, and each of those credits maintains its own validity based on your registration history.
Can I take the Series 66 online?
Only under an accommodation. FINRA states the Series 66 is available online for candidates who require a testing accommodation, and NASAA states online exams are offered by accommodation only and only to candidates who are immunocompromised and at increased risk for severe illness. Everyone else tests at a Prometric center.
What can I bring into the Series 66 exam?
Only a valid, unexpired government-issued photo ID with a signature. Everything else goes into an assigned locker, including your phone, watch, wallet and jewellery, and FINRA states you should not bring study materials to the center at all. Prometric supplies a four-function calculator, erasable note boards, dry-erase markers and noise-cancelling headphones, and all supplied items must be returned.
How does the break policy work on a 150-minute exam?
Breaks are permitted for restroom use only. You may not leave the center or access your locker, and the exam timer does not pause. Any time you spend away from the station is taken out of your 150 minutes.
How long do results take?
NASAA states candidates are notified of the result immediately on completing the exam. You receive it on screen through the PROCTOR system and a printed pass or fail report at the center. If your report notes an equated score, FINRA has placed it on a common scale with other candidates to adjust for small differences in difficulty between question sets.
Will a CFP or CFA waive the Series 66?
No. NASAA states that a qualifying professional designation waives only the Series 65 requirement, because passing the Series 66 is equivalent to passing both the Series 63 and the Series 65. NASAA also notes that a valid Securities Industry Essentials exam and Series 7 exam are co-requisites for registering using the Series 66.
What continuing education applies after the Series 66?
Two streams can apply because you hold two capacities. Investment adviser representatives in jurisdictions that adopted NASAA's model rule complete 12 credits each year, split as exactly 6 Products and Practice and 6 Ethics and Professional Responsibility, with a $3 per credit reporting fee. Registered representatives also complete FINRA's Regulatory Element, and a dually registered person can apply that Regulatory Element to the six Products and Practice credits by self-reporting through FinPro for $18.
How does the Exam Validity Extension Program work for a Series 66 holder?
FINRA states that because the Series 66 qualifies an individual in two capacities, extending both parts requires enrolling both the Series 63 and Series 65 credits where applicable. The program lets eligible individuals hold each exam valid for up to five years by completing annual continuing education, in states that adopted the model rules.
Can I get testing accommodations for the Series 66?
Yes. FINRA provides modifications under the Americans with Disabilities Act including extra administration time scaled to the exam length, a private testing room, a reader or recorder, large print and paper-based delivery at a test center. Submit the FINRA Testing Accommodations Request Form, with Part Two completed by a licensed professional who has treated or evaluated you within the last five years. FINRA typically responds within 10 business days, and approval must come before you schedule the appointment.
Should I take the Series 66 or the Series 63 and Series 65 separately?
Take the Series 66 if you need both registrations and already need the Series 7, since it is one 150-minute exam at $177 instead of two exams totalling 255 minutes and $334. Take them separately if you only need one capacity, or if you would rather face 60 and 130 scored questions in two sittings than 100 in one. A designation holder who needs only investment adviser representative registration should look at the Series 65 waiver route instead.
Can I challenge a Series 66 question I believe was wrong?
Yes. Submit the FINRA Exam Question Challenge Form within 30 days of the date you tested and make the challenge specific rather than general. FINRA reviews the identified questions and issues a written response within 20 days of receiving your form.
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