The Series 65 Exam is required by most states for individuals to register as investment advisers (IAs) or investment adviser representatives (IARs) within those states. The exam is developed and maintained by the North American Securities Administrators Association (NASAA) and administered by FINRA.
Exam Format: 130 multiple-choice questions
Exam Duration: 3 hours (180 minutes)
Passing Score: 70.77% (92 correct of 130)
Broker-dealer Sponsorship: not required
|TOPIC DESCRIPTION||Percentage of Exam||No. Questions|
|Economic Factors and Business Information||15%||20|
|Investment Vehicle Characteristics||25%||32|
|Client Investment Recommendations and Strategies||30%||39|
|Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practices||30%||39|
Prometric is the sole vendor delivering all FINRA-administered exams. Prometric facilities are located in most cities. To schedule an exam, contact Prometric at:
- (800) 578-6273, or
If your local test center does not have favorable availability, consider testing in a neighboring city. Ask about parking when you schedule your exam. Candidates must present valid, current, government-issued photo identification. This includes:
- Driver's License
- Military ID
Student IDs are NOT accepted by Prometric.
COVID-19 Considerations: Due to COVID-19 health concerns, all Prometric test centers require face coverings, and that all testers are free from COVID infection and/or exposure during the previous 14 days. See https://www.prometric.com/covid-19-update/test-center-policies for the latest COVID updates.
In addition, many exams allow Remote Proctoring - see https://www.prometric.com/test-takers/search/1finra for more info.
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