Jul, 2008 whats a harder test series 66 or series 63. It will, like the series 65, qualify the individual to act. 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. What is the difference between the series 63, 65, and 66. It is my impression that you must take series 66 since you do. This series fulfills the requirements of both the series 63 and series 65. 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. Differences between the series 65 and the series 66 hedge fund. The series 65 and series 66 investment advisor representative licenses are required for an individual to charge for giving investment advice or related activities. 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.
The series 65 examination is required by most states for individuals that act as investment adviser representatives. I hold a 7 66 24 and try to break down the complicated issues into more management ideas. Regarding the post differences between the series 65 and series 66 exam, i received the following comment. How to ace the grueling series 65 exam and keep your. Did you pass the series 66 and did you think it was easier. A general overview of finras series 6, 7, 63, 65 and 66 exams. The series 66 is sometimes viewed as the easier exam between series 65 and 66 because its focus is more narrow. It will, like the series 65, qualify the individual to act as an iar, and it. If you are not planning on getting the series 7 license, then you must take the series 65 license exam instead. Jan 18, 2017 instead, it focuses on investment advisor regulation and state law for investment advisor and brokerdealer representatives.
Nasaa is in the process of updating questions on the series 63, 65, and 66 exams in light of the recently enacted secure act. As a result, the series 66 exam is considered by most to be an easier test. Our level of experience and expertise is unmatched. Keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. Sep 01, 2016 the series 66 is a combo of the series 63 and the series 65. But, just because that longer test is out of the way, does not mean you can take the much shorter series 63 for granted. The series 65 exam the nasaa investment advisers law examination is a north american securities administrators association nasaa exam administered by finra. The 65 will often, simply ask which option is bullishbearish. The series 65 is for people who do not hold a series 7. Jul 03, 2015 a relatively easy question for a series 7 student. Tips to prepare for the series 65 exam, and recommendations on the best exam prep and.
In order for a candidate to pass the series 65 exam, heshe must correctly answer at least 94 of the scored questions. Again, for series 7 students you will be taking two exams 63 and 65 as opposed to one. 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. Generally, for those persons with the series 7 license, the series 66 exam is easier to pass than the series 65.
Passing the series 66 exam qualifies a candidate to register as an investment adviser representative and as a securities agent. May 21, 2019 keep in mind that while the series 66 has fewer questions than the series 65 the passing score is slightly higher. Our experience with many thousands of students who have taken these tests indicates differently. Series 66 this series 66 is the newest exam offered by nasaa. If people are having trouble, or looking for help in passing these exams, please check out. While it is true that the questions might be of comparable difficulty, the. Comments on the series 65 and series 66 exam hedge fund. The series 65 exam includes a broad range of product, analysis, strategy and economics questions. Series 66 exam nasaa uniform combined state law exam. The 65 is approximately 70% investments and 30% lawsregulations. Whats a harder test series 66 or series 63 answers.
The series 65 and series 66 are qualification examinations for people who want to pursue careers as investment professionals. Series 65 exam prep tips and best study guides michael kitces. This test contains no investment material, as the series 66 license is only available to. 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. Series 66 the 66, which is the 63 65 combination is difficult. 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. The 63 is entirely focused on rules, laws and regulations. People who take the 66 are usually people who already have passed the series 7 exam. Passing the series 66 is the equivalent of passing the series 65 and 63. The exam includes scored and 10 randomly placed unscored. The series 65 and 66 exams can be difficult for people without any investment experience. The series 65 exam, called the uniform investment adviser law. The good news is series 66 is shorter than series 65 since the latter includes parts of series 7.
People with series 6 take series 65 instead of 66 because it. Getting the series 66 license fulfills the requirements of both the series 63 and series 65 licenses. If you benefit from these materials, just click the link below. Since i dont have a sponsor, im thinking of writing the series 66 or series 63 and 65. Heres my experience studying for, taking and passing the series 65 exam to become an. In addition, michael has an undergraduate degree as well as an mba in finance and is a cfa charterholder. 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. May 07, 2014 i have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. Career question how difficult are the various finra series. Yet, series 66 is a corequisite to series 7 and therefore useless by itself. 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.
Check out our premium series 65 study guide to take your studying to the next level. Differences between the series 65 and the series 66. 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. 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. Can i expect the series 7 to be harder than the 65 or just more detailed on certain subjects. 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 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.
There are several key differences between the series 65 and series 66 exams. The 63 is a joke, but i hear the 6566 is a good bit harder than the 63, but less. I have actually started offering webinars and tutoring for the series 65 along with the series 6, 63, and 26 exams. The 63 questions is easy, but the 65, iar exam, is not as easy. Pass perfect is a leading developer of targeted, effective training programs for the securities licensing exams.
If an individual does not already have a series 7 and wishes to be an iar, the. There are lots of series exam providers online that. My firm provides stc and i used that last month for the series 7 which i got 87%. 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. A little easier than the series 7, maybe comparable as well to the series 6. Comments on the series 65 and series 66 exam hedge fund law. The series 66 license is only an option if you have, or are obtaining, the series 7 license. Mar 25, 2012 the series 66 is equivalent to taking both the series 63 and series 65. I hold a 76624 and try to break down the complicated issues into more management ideas. While the series 65 is a larger test the passing score is only 72%. It will, like the series 65, qualify the individual to act as an iar, and. Jun 19, 2007 the 66 is a combination of the 63 and the 65.
I sat for the series 66 without study and scored a 65. 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. 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. Seeing as though you already have the 63, go for the easier 65. What is a harder test series 65 or series 66 answers. I believe, anecdotally, the answer choices on the 65 and 66 seem to be more subjective thus leading to lower scores. And i have to take the 7 under sponsorship of my firm. A general overview of finras series 6, 7, 63, 65 and 66. 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.
I have never heard of anyone taking the 65 or 66 11 times. So if you have series 7, opt for the 66, its a little shorter. After reading so many blogs on both 65 and 66 tests and study materials ive ordered the tc materials. After reading so many threads on the subject, i was discouraged to use stc and asked my firm. Many of them have taken the series 6 and 63, which are much easier than the 65. First, the passing score for the series 66 is 71%, while you only need a 68. In essence, it combines the series 63 and 65 exams into one 150minute exam. If you miss the question, you get an easier question. Get that one right, and the difficulty level will rise, allowing you to score more points. The series 66 exam is 100 questions versus the series 65 exams. May 01, 2018 the series 63 allows only 75 minutes for completion of 65 questions 60 are scored and 5 are experimental and unscored. The series 65 exam is extremely challenging, and thorough test preparation is essential for success.
If an individual does not already have a series 7 and wishes to be an iar, the series 65 is nasaas competency exam. Career question how difficult are the various finra. If you are earning your series 7, you will also have to pass the new sie exam. So, pace yourself carefully to get through all questions, and then come back to deal with the baffling ones after youve made it through the entire exam. 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. Why the sie exam isnt best to become a financial advisor. So, which test is easier, the series 65 or series 66. This is the only license required if an individual acts as an investment adviser representative. Currently, questions on the exam have not been modified and are based on the status of the law as of 12312019. If you get stuck in a long and wordy question, the time can fly by. Mar 18, 2019 getting the series 66 license fulfills the requirements of both the series 63 and series 65 licenses. To compliment our series 65 book, we also offer extensive flashcards for even more series 65 exam prep help. Most people i help with the series 65 work in the insurance industry. I used both stc and kaplan in the past and had good and not so good results.
The difference between the exams is the break down and the required passing score. The 65 exam, in contrast, is more difficult for people. 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. 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. Series 766 exam details kaplan financial education. These sections are excluded because they are tested as part of the series 7, which is a prerequisite for taking the series 66. I just passed the series 7 after a month of cramming with a 78% but also in part due. Oct 26, 2008 since i dont have a sponsor, im thinking of writing the series 66 or series 63 and 65. Conventional wisdom suggests that the level of difficulty is the same for the series 65 and series 66. The series 63, series 65, and series 66 licenses are required by securities administrators in.
Series 63 blue sky laws exam is quite simple if you put the effort into it. The 66 exam is more of a rules test than the series 65. The series 66 exam is 100 questions versus the series 65 exams questions. Determining which exam you should take will depend on your particular. While the series 65 is a larger test the passing score is only 72 %. The series 65 is a securities license required by most u. It will, like the series 65, qualify the individual to act as an iar, and it fulfills the requirements of the usa for. This means that the series 7 is a corequisite exam for the series 66.
The 66 was designed for advisers that want to do feebased or feeonly advice and have neither the 63 nor the 65. The series 66 exam contains topics covered in the series 63 and series 65 exams without duplication of the series 7. Although the tests are separate, with different prerequisites, the subject matter is almost identical. Should i take the series 65 or series 66 exam securities ce. Series 65 exam secrets study guide is the ideal prep solution for anyone who wants to pass the 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. Both the 65 and the 66 qualify you to become an investment adviser representative. 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. You wont pass with flying colors but you can prepare with it with minimal effot. Whether or not this registration is required, however, will likely be decided at least initially on a firmbyfirm basis. The series 65 exam is administered at prometric testing centers in the u. Also, the passing score is 72% as opposed to 75% for the 66. Series 66 the 66, which is the 6365 combination is difficult.
The bad news is the questions on series 66 generally require a deeper understanding of the industry. 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 series 65 exam includes a broad range of product, analysis, strategy and economics. This test contains no investment material, as the series 66 license is only available to candidates that are already series 7 licensed.
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