Series 66 Exam

Written by Amy Hall
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The Series 66 exam is administered by the North American Securities Administrators Association (NASAA). Successful completion of this exam is basically equivalent to the successful completion of both the Series 63 and Series 65 exams. In order for an individual to to qualify for registration as an Investment Advisor Representative, it is necessary for him or her to not only pass the Series 66 exam, but also the Series 7 exam.

This requirement is not uniform among all the states, so you should check with the state you live in to find out whether or not you must successfully complete this exam, along with the Series 7. This test consists of 110 questions, 10 of which are pretest questions which will not count toward the final mark. Students are given 2 hours and 30 minutes to complete this exam. A score of 71 percent is considered passing.

Important Info about the Series 66 Exam

If you are looking into the Series 66 exam to take in the near future, you should realize that successful completion of the Series 7 must occur either before or directly after completion of the Series 66. The Series 7 exam is a challenging test that is considered the most comprehensive of all the Series exams. Therefore, you should give yourself enough time to study for both exams individually.

There are some excellent study aids available that you can use right at home, such as computer CDs, videos, textbooks, booklets, and so on. These study materials can be used to supplement any preparatory classes you may be taking, or used on their own. It is essential that you devote at least one to two hours a day for a month (maybe longer) before taking these difficult exams.

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