Series 65 Exam

An exam administered by the Financial Industry Regulatory Authority (FINRA) (previously the National Association of Securities Dealers (NASD)). Completion of the Series 65 Exam will qualify an investment professional to operate as an Investment Advisor Representative in certain states. The exam focuses on topic areas that are important for an investment advisor to know when providing investment advice. These areas include topics such as retirement planning, portfolio management strategies, and fiduciary obligations.

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Series 65 Online Study Guide

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Exam Details

Time Limit: Three hours
Cost: $155
Number of Questions: 130, plus 10 "pre-test" questions
Passing Score: 72%
Format: Multiple Choice / 50% Essay
Prerequisites: You do not have to be sponsored or employed by a member firm. If registering as an individual, you must complete Form U-10.
Exam Date(s): Any day of the week, excluding Sundays
Exam Locations: Find your U.S. or international exam center here
Official Exam Website: http://www.nasaa.org


Exam Topic Weights

For an in-depth breakdown, see the North American Securities Administrators Association's (NASAA) study guide.

Series 65 Exam Topic Weights By Section


Question of the Week

Your client, Todd, owns 100 shares HAT stock in his taxable stock portfolio. The stock has been inactive for the last year and Todd expects it to have another sluggish year ahead. To help Todd increase his return on the stock and reduce risk, you would recommend which of the following strategies?

  • a) Sell a call on HAT stock
  • b) Buy a put on HAT stock
  • c) Sell a put on HAT stock
  • d) Buy a call on HAT stock
  • View Answer »
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