The series 66, also known as the uniform combined state law examination, is required in most states for candidates to become an. I took and passed the series 7 as someone who was not a business major in college rather a. The series 66 is a combination of the series 63 exam and the series 65 exam. Spend over 10 hours in 8 class sessions with robert walker, author of pass the 66 success program, to understand the nuances of breaking down the exam questions to get to the correct answer. Breaking down financial securities licenses investopedia. The uniform combined state law exam is a criterion based minimum competency exam. Differences between the series 65 and the series 66. I passed the final practice exam with a score of 95%. A general overview of finras series 6, 7, 63, 65 and 66. Both allow advisors to receive feebased compensation, but each serves a unique audience. The series 6 is a tough exam, especially for those who find it is their first introduction to the world of securities. The questions on the test are assembled by level of difficulty and content area. Both tests are certainly digestible, but require enough memory work to weed out anyone not willing to put in sufficient effort. It is a corequisite of the sie exam, which tests you on general securities topics.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a principal, including the rules and. Passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. This test contains no investment material, as the series 66 license is only available to. Since its revision in jan,10, the series 66 exam has vastly increased in difficulty and an increase in the national fail rate some 50%. I hold a 76624 and try to break down the complicated issues into more management ideas. Stc kicked it for the series 7, but imo was abysmal for the series 66.
By contrast, the questions on the series 7 exam are detailed and related to the daytoday. In essence, it combines the series 63 and 65 exams into one 150minute exam. Series 66 exam free series 66 exam tips and preparation. It was developed by north american securities administrators association nasaa and operated by the financial industry regulatory authority finra the uniform combined state.
It was created by nasaa in response to requests from. I look at posts from people online saying the cfa exams are 0 times harder than the series 7 and that doesnt really mean anything to me. Economic factors and business information 5 questions. This process makes sure each exam meets content specifications, ensuring each series 66 exam has the same difficulty level. The series 66 satisfies series 65 and series 63 exam requirements, but series 7 registration is a corequisite for the series 66.
This series 66 is the newest exam offered by nasaa. But, just because that longer test is out of the way, does not mean you can take the much shorter series 63 for granted. I believe, anecdotally, the answer choices on the 65 and 66 seem to be more subjective thus leading to lower scores. That said, the feedback is mixed and similar to my sie exam difficulty discussion, the degree of difficulty for the new topoff exam is quite dependent on the students background. In order for a candidate to pass the series 66 exam, heshe must correctly answer at least 73 of. Get that one right, and the difficulty level will rise, allowing you to score more points.
I am trying to determine how hard the cfa really is. Below i will walk you through the series 7 topoff exams difficulty level. The program dynamically modifies each students learning sequence, based on the students strengths and weaknesses. This is the most often asked question i get in my classes, closely followed by. Getting any series exam out of the way is a major accomplishment. The series 66 exam contains topics covered in the series 63 and series 65 exams without duplication of the series 7. If people are having trouble, or looking for help in passing these exams, please check out. The pass rate for the exam isnt publicly available, but series 66 is generally considered to be difficult. What is the best way to prepare for the series 3 exam. Series 66 uniform combined state law examination exam. A study that reveals the series 63 pass rate the series 63 exam requires a score of 72% 4360. The series 24 exam the general securities principal qualification exam gp assesses the competency of an entrylevel principal to perform their job as a principal dependent on their corequisite registrations.
Series 65 and series 66 passing grade increased hedge. 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. Most securities exams administered by both finra and the nasaa have a passing score of 70%, except for the series 7, 63, and 65, which have passing scores of 72%, and series 66, which has a. I got a 90 on the series 7, studied hard for the 66 only to fail with scores of 71 and 73. I passed the series 7 and 66 using passperfect in the past and decided to go with them again. 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. Currently, questions on the exam have not been modified and are based on the status of the law as of 12312019. If you plan to be in the business of providing investment advice for a fee, either the series 65 or 66 is a must.
Of the 110 questions, 100 will count toward your score. Series 66 exam nasaa uniform combined state law exam. Series 66 test specifications topic weight number of. Finra designed it to test series 7 license candidates on how well they can apply their knowledge of securities concepts to specific scenarios. In this video lecture series, we show you how to break down the toughest series 66 questions, so you get the correct answer every time. I just took and passed the 63 and am studying for the 65. I also looked at the outline and i know tvm and how securities and.
Anecdotally, they have a lower pass rate than the finra exams. What is the best way to prepare for the series 66 exam. The questions on the series 66 exam focus on the following areas. In this article, well give you six additional easy tips on how to approach. Nasaa is in the process of updating questions on the series 63, 65, and 66 exams in light of the recently enacted secure act. Overall, the series 6 difficulty level is somewhat comparable to the sie exam difficulty.
The series 66 is essentially a combination of the series 63 for securities agents and series 65 for investment adviser representatives. As a result, the series 66 exam is considered by most to be an easier test. Series 66 uniform combined state law examination exam what. 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. Generally, for those persons with the series 7 license, the series 66 exam is easier to pass than the series 65. Successful completion of the series 66 exam is equivalent to successful completion of both the series 63. This means that the series 7 is a corequisite exam for the series 66. The series 7 exam is by far the longest and most difficult of all the securities exams. After reading so many threads on the subject, i was discouraged to use stc and asked my firm to at least get me the tc question bank. The series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. Six things you absolutely must know if you are planning to take the series 66 exam.
We offer a variety of instruction options and exam prep study tools to best suit your learning style and. I just passed the series 7 a few hours ago with over 90% and i want to get the 66 as soon as possible. My firm provides stc and i used that last month for the series 7 which i got 87%. Its not hard, and if it is hard, id wonder if this was the long term field for you no offense. On the gmat your answer to the first multiplechoice question determines the difficulty of the next question presented to you. The series 66 exam is 100 questions with a time limit of 150 minutes and a passing score of 73%. People who take the 66 are usually people who already have passed the series 7 exam. Kaplan financial educations securities licensing exam prep packages provide all the necessary tools to help you prepare, practice, and perform on the nasaa series 66 exam, uniform combined state law examination. For examinees with conditions covered under the americans with disabilities act, that require special testing accommodations, you can make this request in writing. The series 65 exam is administered at prometric testing centers in the u.
This new exam was first offered in october 2018, and student feedback abounds. The series 66 is proving to be extremely difficult. So, the pass rate was quite poor, test difficult, and numerous complaints about how poor the study material was, didnt match up to the. At the time of wheelers series 66 failure on july 15, 2010, morgan stanleys policy was to terminate employees who failed the.
The series 65 and series 66 are qualification examinations for people who want to pursue careers as investment professionals. The series 66 exam is computerbased, and includes 110 multiplechoice questions. Generally, for those persons with the series 7 license, the series 66. The series 65 and 66 exams can be difficult for people without any investment experience. The uniform combined state law examination also called the series 66 exam is designed to qualify candidates as both securities agents and investment adviser representatives in the united states. How to pass the series 3 exam and become an associated person. The series 66 exam the nasaa uniform combined state law examination is a north american securities administrators association nasaa exam administered by finra. 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 means that any student who successfully passes the series 66 test is deemed to have met minimum competency requirement and is fit to pursue a career within specific areas in the securities investment industry by taking other exams. I have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. If you miss the question, you get an easier question.
I did return to take the two greenlight exams in stc, in which i scored an. Apply to learning specialist, regional director, regional vice president and more. Conventional wisdom suggests that the level of difficulty is the same for the series 65 and series 66. Since most training vendors have access to the same information that is tested, the real key to success is preperation. Characteristics, risks, and application of alternative investments 2 1. The answer is that, while everyone learns in a different way, there are certain steps. Series 66 is an exam administered by the financial industry regulatory authority finra. Morgan stanley exam taker barred for fudging score to keep job. Prepare with our series 66 exam questions to help you pass your exam and. How long should i study for the series 66 and any tips.
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