What is a Series 66 license?

Series 66 license – What is it?

What is the Series 66 license? It is a securities license that, when obtained, qualifies an individual to work as an investment advisor representative (IAR) or securities agent with state-level authority. In order to obtain a Series 66 license, an individual must pass the Series 66 exam, which is known as the Uniform Combined State Law Examination.

Who created the Series 66 license?

The Series 66 license was created by the North American Securities Administrators Association, which is commonly referred to as NASAA. It is a state securities license. The Series 66 exam is administered by FINRA, the Financial Industry Regulatory Authority. FINRA is a self-regulatory organization that oversees the securities industry.

To hold a Series 66 is there any other license requirements?

Yes, there are. In order to register as an investment adviser representative based on the Series 66 license, an individual must also have passed the FINRA Series 7 exam and their license must be valid. Generally, individuals obtain their Series 7 license once they complete the Securities Industry Essentials exam (SIE), and then complete the Series 66 exam.

What are the vitals for the Series 66 Exam?

This exam is made up of 100 multiple-choice questions. Each question consists of four answer choices. The exam has a 150-minute time limit and has a 73% minimum passing score. The questions on the exam come from four outline sections as follows:

  1. Economic Factors and Business Information – 8% of exam – 8 questions
  2. Investment Vehicle Characteristics – 17% of exam – 17 questions
  3. Client/Customer Investment Recommendations and Strategies – 30% of exam – 30 questions
  4. Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practices – 45% of exam – 45 questions

You can access the full Series 66 license exam outline here.

Series 66 Exam Prep with Suzy

Learn more about this exam from Suzy

Suzy is our Director of Securities Exam prep. She has over 20 years of experience teaching people just like you how to pass their securities licensing exams on their first attempt. Below Suzy will guide you through an overview of this exam and share with you a great study solution you can use to PASS.

“Hello. I just wanted to say thank you for the excellent videos and support material. It was a big help to me in passing my S66 exam yesterday.”

Bill

Series 66

If I get my Series 66, am I also required to get a Series 63 or Series 65 license?

No! The good news is obtaining a Series 66 is the same as obtaining both the Series 63 and Series 65 licenses. These are all state securities licenses. Can you just obtain a Series 63 license? Yes, however, if you plan to act as an investment advisor, getting a Series 66 license is the way to go. Suppose you don’t obtain your Series 66 license initially and instead opt to obtain your Series 63 license. In that case, you will also have to either pass the Series 65 or Series 66 exam to act as an investment advisor in the future.

How to pass the Series 66 exam the first time:

At PassMasters, we have an excellent video lecture-based online Series 66 test prep course. We can teach you everything you need to know to pass this exam on your first attempt. Or, maybe you studied another course and failed. Our specialty is assisting those who have taken this test and failed to prepare to pass the exam. To learn more, click this link: Series 66 Exam Prep

How do you know our Series 66 study material is the best? Check out two full-length sample lecture videos from the course below. You can also take a FREE Series 66 practice exam to see exactly how our practice/final exams are formatted. Of course, you can also check out our Series 66 Exam student testimonials. Feedback from real people who are passing the Series 7 test.

Series 66 Practice Exam Questions Explained

Each week on Wednesday, we post a new Question of the Week video on our YouTube page. Check out this QOTW video in which Suzy explains 10 exam questions. Visit our YouTube page, follow and turn notifications ON to view future QOTW videos when posted. Thanks for checking out our site. We hope this article provided additional clarification about the Series 66 License. Good luck with your test!