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NASAA/FINRA

Series 65 (Investment Adviser) Pass Rate 2026

Complete analysis of Series 65 (Investment Adviser) exam difficulty, pass rates, and strategies to pass on your first attempt.

Pass Rate Overview
~73%

Pass Rate

73% Pass
27% Fail

Difficulty Verdict

Moderately Challenging

Recommended Study Time

4-8 weeks

Typical Attempts

1-2 attempts typical

Why is the Series 65 (Investment Adviser) Pass Rate ~73%?

Series 65 (Investment Adviser)'s ~73% pass rate means roughly 27 out of 100 candidates fail. For a hard-difficulty NASAA/FINRA exam, this is in line with expectations. Success requires covering all exam objectives — not just the ones you're comfortable with. At $187 per attempt, failing is costly. The certification is valid for Ongoing, so investing in solid prep pays off long-term.

Top Reasons Candidates Fail Series 65 (Investment Adviser):

30%
Underestimating the volume of material to memorize and apply
25%
Weak quantitative/analytical skills in complex scenarios
20%
Not practicing enough with exam-format questions
15%
Poor study scheduling across multiple exam sections
10%
Burnout from extended study periods (6-18 months)
How to Beat the ~73% Pass Rate

Do This for Series 65 (Investment Adviser)

  • Required for RIA representatives
  • 130 questions in 180 minutes
  • Heavy focus on fiduciary duty
  • Study portfolio management and economics

Avoid This

  • Skipping practice problems in favor of passive reading
  • Studying sections in isolation without understanding connections
  • Ignoring ethics — it's tested on every finance exam
  • Burning out by studying 12+ hours a day for months

Ready to Beat the Odds?

Get our complete Series 65 (Investment Adviser) study guide with practice questions.

View Series 65 (Investment Adviser) Guide
Other Exam Pass Rates
CPA (Certified Public Accountant)45-60%CFA (Chartered Financial Analyst)~40% Level 1Series 7~72%SIE (Securities Industry Essentials)~74%Series 63 (Uniform Securities Agent)~80%Series 66 (Uniform Combined State Law)~72%FRM (Financial Risk Manager)~45% Part 1CFP (Certified Financial Planner)~65%CMA (Certified Management Accountant)~45%