The Uniform Securities State Law Exam (Series 63
Exam), is given to qualify a test-taker
as a securities agent in the United States. The exam is given to assess a candidate’s
knowledge of state laws and regulations. It is a North American Securities
Administrators Association (NASAA) exam given by FINRA.
Exam fee:
The fee for the Series Exam is $135 due at the time of
registration.
Format of the exam:
The exam consists of 60 scored multiple-choice
questions, 43 of which you must answer correctly in order to pass. You will be given 75 minutes to complete it.
Exam topics:
The Regulation
of Investment Advisor Representatives section includes 3 questions dealing
with the definition of an Investment Advisor Representative. The Regulation of Investment Advisers
Including State Registered and Federal Covered Advisers section consists of
3 questions that test your knowledge in the following: Definition of an
Investment Advisor.The Ethical Practices and Obligations section
includes 15 questions including, but not limited to, Cybersecurity, customer funds and securities, and ethical issues.
In the Regulation
of Broker-Dealers section of the exam, you will be presented with topics
that include, definition of a
Broker-Dealer, and Broker-Dealer Agent supervision, and registration/post
registration. There are 9 questions in this section.The Regulation of Agents of
Broker-Dealers section consists of 9 questions and includes topics such as,
registration/post registration, and definition of an Agent of a Broker-Dealer
The Communication
with Customers and Prospects section of the exam includes 12 questions and tests
your knowledge of topics including, but not
limited to: disclosures, customer agreements, and correspondence and
advertising.In the Regulation of Securities and Issues you
will be responsible for answering 3 questions based on exemptions, definition of securities issues, state and
antifraud authority, and registration/post registration.
For the Remedies
and Administrative Provisions section, you will be responsible for
answering 6 questions based on: Authority of state securities administrator,
other penalties and liabilities, and administrative actions.
How do I Register?
You may register for the exam on the official FINRA website. After registering, you will have 120-days to schedule your exam. You will not be able to register for the exam after that.
Where will I take the exam?
The exam is administered at Prometric testing centers. You can schedule your exam on their website or by phone at 800-578-6273. You will need to have your FINRA ID number with you when you’re scheduling your exam.
What if I need to reschedule my exam?
If you need to reschedule or cancel your exam, you will need to do it at least 10 days in advance to avoid any fees.
What will exam day be like?
On the day of your exam, be sure to arrive at least 30 minutes early. You will need to have your government-issued photo ID with you. Personal belongings are not allowed into the testing room with you, so it is recommended that you leave all personal belongings either in your car or at home. Everything you need for the exam will be provided to you.
When will I receive my exam scores?
Upon completion of the exam, you will receive your unofficial pass/fail score. Before you leave the exam site, you will be provided with a printout of your results. Your results will also be posted online by FINRA a few days after taking the exam.
What if I fail the exam?
If you fail your exam you will be able to retake it. However, after your first attempt, you will need to wait 30 days before registering for the exam again. After your third attempt, you will have to wait a total of 180 days. Keep in mind that you will need to pay the exam fee each time you register.
If I am someone with a disability, will I be accommodated?
Definitely. If you are a person with a disability, you will need to fill out the Special Accommodations Eligibility Questionnaire on the official FINRA website. If you do not fill out this questionnaire, you will not be given special accommodations.
How Can I Prepare for the Series 63 Test?
That’s a great question. We’ve broken down the answer into three parts.
- Do yourself a favor and study. Do not walk in unprepared. We have recommended prep materials below, but that only helps if you actually try. Plus, studying is actually proven to be the best antidote to test anxiety.
- Take care of yourself. Make sure you’re eating well, exercising, and sleeping. All of these things are scientifically linked to brain performance. If you take care of your body, you’ll be helping your grades.
- Get a study guide or set of flashcards. Some people study better a certain way. Find your study strengths and make the most of them. We’ve tried to make it easy for you by tracking down the best study guide and flashcard set for your exam. Below you’ll see links to both!