Series 65 (Investment Adviser) Requirements & Prerequisites
Everything you need to know before registering for the Series 65 (Investment Adviser), eligibility, cost, format, and what to expect on exam day.
Cost
$187
Provider
NASAA/FINRA
Validity
Ongoing
Available
USA
Education
Check official exam requirements
Experience
1-3 years of hands-on experience recommended
Specific Requirements
- There are no prerequisite exams. NASAA confirms the Series 65 has no co-requisite, unlike the Series 66 which requires the Series 7.
- No sponsoring firm is required. An unsponsored candidate can open an enrollment window on FINRA.org and pay the $187 fee.
- Once the request is processed, FINRA opens a 120-day window within which the appointment must be taken.
- There is no degree, work experience or age requirement published by NASAA for the Series 65.
- Passing does not permit you to give advice. A state may still require a Form U4 application, a background check, bonding and fee payment before granting registration.
- Holders of the CFP, ChFC, MSFS, CFA, PFS or CIMA can usually skip the exam entirely, subject to the individual state administrator accepting the May 2024 updated list.
Number of Questions
140 questions on the form: 130 scored plus 10 unscored pretest questions
Duration
180 minutes
Question Format
Multiple choice, closed book, Unidentified pretest questions mixed into the form, Calculation items on time value of money, ratios, valuation multiples and portfolio returns, Scenario items on client profiling, account ownership and adviser conduct
Passing Requirement
92 of the 130 scored questions. NASAA states the standard as a count of scored items and warns that averaging section scores will not reproduce the overall result, because the four areas are weighted differently
How It Is Delivered
Computer-based testing at Prometric test centers. FINRA states the Series 65 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
Languages Offered
English (NASAA does not publish another language version of the Series 65)
Visit the official NASAA/FINRA certification page
Create an account and select your exam
Choose a test center or online proctoring option
Pay the exam fee and schedule your date
- Two forms of valid ID (one government-issued with photo)
- Appointment confirmation email
- For online proctoring: webcam, microphone, clean desk, stable internet
What are the prerequisites for the Series 65 (Investment Adviser)?
There are no prerequisite exams. NASAA confirms the Series 65 has no co-requisite, unlike the Series 66 which requires the Series 7.. No sponsoring firm is required. An unsponsored candidate can open an enrollment window on FINRA.org and pay the $187 fee.. Once the request is processed, FINRA opens a 120-day window within which the appointment must be taken.. There is no degree, work experience or age requirement published by NASAA for the Series 65.. Passing does not permit you to give advice. A state may still require a Form U4 application, a background check, bonding and fee payment before granting registration.. Holders of the CFP, ChFC, MSFS, CFA, PFS or CIMA can usually skip the exam entirely, subject to the individual state administrator accepting the May 2024 updated list..
How much does the Series 65 (Investment Adviser) cost?
The Series 65 (Investment Adviser) exam costs $187. This includes the exam fee only, study materials are additional.
How do I register for the Series 65 (Investment Adviser)?
Visit the official NASAA/FINRA certification page → Create an account and select your exam → Choose a test center or online proctoring option → Pay the exam fee and schedule your date
What should I bring to the Series 65 (Investment Adviser)?
Two forms of valid ID (one government-issued with photo). Appointment confirmation email. For online proctoring: webcam, microphone, clean desk, stable internet.
Ready to prepare for Series 65 (Investment Adviser)?
Get the complete exam guide with study plan, tips, and practice questions.
View Series 65 (Investment Adviser) Guide