What Is The Series 66 Exam. 73% mark is needed to pass. However, if a manager has a series 7 exam license, he will only need to take the series 66 exam instead of the series 65.
The series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. The series 7 exam is a licensing exam for stockbrokers and other financial services professionals who are involved in the trading of securities, such as stocks and bonds, except commodities and futures futures contract a futures contract is an agreement to buy or sell an underlying asset at a later date for a predetermined price. The series 66 exam, otherwise known as the uniform combined state law examination, is similar to the series 65 exam in that it is criterion based.
The Exam Combines Elements Of Both The Series 63 And The Series 65 Into One Exam To Increase The Efficiency With Which Candidates Can Gain The Necessary Qualification.
The series 66 license allows financial services professionals to qualify as an investment adviser representative and as a securities agent representing a broker dealer. Topics on the test cover security exchange commission (sec) releases, uniform securities act, federal laws, general business practices, administrative procedures, financial profiles, and portfolio management. The series 66 exam is a big deal for most students.
Passing The Series 66 Exam Qualifies A Candidate To Register As An Investment Adviser Representative And As A Securities Agent.
The exam covers topics that have been determined to be necessary to provide investment advice and effect securities transactions for. Series 66 test specifications 2. The series 66, also known as the uniform combined state law exam has corequisites, unlike the series 63 exam.
Understanding The Series 7 Exams.
It combines the series 63 with the series 65 exam. This means that the candidate is expected to meet a minimum required competency in order to perform the job sufficiently. Candidates have 150 minutes to complete the exam.
The Test, Commonly Called The Series 66 Exam, Is Administered By The Financial Industry Regulatory Authority.
Persons who take the series 66 exam must also pass the series 7 exam prior to registering with their state’s regulatory commission. The exam consists of 100 scored questions. In order to obtain a series 66 license, candidates must prepare and pass the series 66 exam (uniform investment adviser law examination).
The Exam Grills Applicants On A Wide Range Of Financial Questions.
Here’s what you can expect on the test. 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 series 66 with less effort than the series 65. The series 65 exam is designed for those who do not have a series 7 license.