Arkansas Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Arkansas must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Arkansas is the latest jurisdiction to finalize adoption of NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The CE requirement will go into effect for IARs registered in Arkansas on January 1, 2023. Kentucky, Michigan, Oklahoma, Washington, D.C., and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement went into effect in 2022 in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of this year.

Nevada and Rhode Island are also planning to adopt the IAR CE requirement. If these states finalize adoption by the end of 2022, then the requirement will begin in 2023.

According to the NASAA model rule, IARs registered in jurisdictions that have adopted the CE requirement must complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category, with at least three of these being Ethics.

To fulfill the IAR CE requirement, courses must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in the Solomon IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Sexual Harassment IAR CE Course Now Available

Solomon has added another Ethics and Professional Responsibility course for Investment Adviser Representatives to complete their annual IAR CE requirement. Continue reading

Solomon Exam Prep has just added a new course to its Investment Adviser Representative Continuing Education course library. The course, “Sexual Harassment: Creating a Safe Work Environment,” has been approved by NASAA and earns credit towards the new CE requirement for investment adviser representatives (IARs).

“The Sexual Harassment: Creating a Safe Work Environment course was created in direct response to requests from Solomon investment adviser customers. Solomon is pleased to be able to meet the demand for this important CE topic.”
Jeremy Solomon
Solomon Exam Prep President & Co-founder

About the Course

Employers are responsible for creating work environments where employees are safe and free from sexual harassment. Employees must also understand what sexual harassment is so that they can recognize and prevent it.

This course defines sexual harassment and provides examples that will help you learn to recognize it in the workplace. You’ll learn about the history and legal foundation of modern sexual harassment law. This includes a discussion of power dynamics and the role of gender identity. The course then introduces you to both traditional and alternative approaches to handling workplace harassment. Finally, you’ll learn about IAR disclosure requirements regarding sexual harassment and get tips for safely navigating the digital workplace.

By the end of the course, you’ll be able to do the following:
  • Define sexual harassment, recognize the two most common forms of sexual harassment, and be able to identify a variety of unacceptable workplace behaviors
  • Describe how power dynamics can be involved in sexual harassment
  • Identify different sexual harassment prevention techniques
  • Identify methods that have been shown to improve worker satisfaction regarding sexual harassment issues
  • Know the disclosure obligations of IARs with respect to sexual harassment and sexual assault
  • Identify several ways to make digital workplaces safer for all workers

The Solomon Sexual Harassment CE course is worth one credit for the Ethics and Professional Responsibility category and falls within the Ethics sub-category. IARs must complete six credits of Ethics and Professional Responsibility courses each year, with three of these being Ethics courses. The other six of the 12 required IAR CE credits must be in the Products and Practices category.

About Solomon IAR CE courses

Solomon’s online IAR CE courses are self-paced and accessible on any internet-enabled device. Each course consists of short reading passages followed by quick assessments of 2–4 questions each. This read-and-quiz format facilitates learning and retention.

All Solomon IAR CE courses earn credit towards the Products and Practices, or the Ethics and Professional Responsibility, categories required by NASAA. Once you begin a course, you have up to 365 days to complete it. When you finish a course, Solomon reports completion to FINRA, NASAA’s vendor for program tracking.

What is the IAR CE requirement?

Investment Adviser Representatives registered in a jurisdiction that has adopted and implemented the NASAA model rule must do annual continuing education. To fulfill the IAR CE requirement, IARs must complete 12 credits of continuing education each calendar year.

To learn more about the IAR CE requirement, visit the Solomon IAR CE FAQs page. Explore Solomon’s entire IAR CE course library – purchase individual courses or a membership to the whole library and complete all your IAR CE in one place.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Washington DC Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Washington DC must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Washington, DC is the most recent jurisdiction to adopt NASAA’s new investment adviser representative continuing education  (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in the District of Columbia on January 1, 2023. Kentucky, Michigan, Oklahoma, and Wisconsin will also begin implementing the requirement in 2023. 

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, and Rhode Island have begun the process to adopt the IAR CE requirement. If these states finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Oklahoma Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Oklahoma must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Oklahoma is the most recent state to adopt NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in Oklahoma on January 1, 2023. Kentucky, Michigan, and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, Rhode Island, and Washington D.C. have begun the process to adopt the IAR CE requirement. If these jurisdictions finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

ESG Investing and DeFi & Digital Assets CE Courses Now Available

Investment Adviser Representatives have two more Solomon continuing education courses to choose from to complete their annual NASAA IAR CE requirement. Continue reading

Solomon Exam Prep has just added two new courses to its Investment Adviser Representative Continuing Education course library! Both courses are approved by NASAA and earn credit towards the new CE requirement for investment adviser representatives (IARs).

An Introduction to ESG Investing

Curious about the increasingly popular form of investing called ESG (Environmental, Social, and Governance) investing? Solomon Exam Prep’s new continuing education course, “An Introduction to ESG Investing,” provides a helpful overview of the topic for IARs.

The course begins with a short history of the ESG movement, including the role that international and domestic governing bodies have played in jumpstarting ESG investing. The different types of ESG ratings are compared and explained. Additionally, the course describes the kinds of ESG securities offered, as well as ways to choose an ESG portfolio that aligns with an investor’s values. Finally, the course lays out the potential risks and benefits of ESG funds and common ESG investment philosophies, such as impact investing and sustainable investing.

By the end of the course, you’ll be able to do the following:
    • Briefly describe the domestic and international roots of ESG investing and how it has grown to become a prominent force for change in the US and EU
    • Identify the characteristics and examples of the types of metrics used to gauge compliance with ESG goals
    • Understand the basic differences between the several types of ESG ratings agencies
    • Describe the common types of ESG securities, such as mutual funds, ETFs and green bonds
    • Identify examples of how states have led the shift in ESG investing
    • Describe the risks and benefits of investing in ESG funds
    • Define basic terms used in ESG investing tactics, such as impact investing and sustainable investing

The Introduction to ESG Investing course is worth one credit for the Products and Practices category. IARs must complete six credits of Products and Practices courses each year, of the 12 total required credits.

DeFi and Digital Assets

If you’ve been hearing terms such as “cryptocurrency,” “DeFi (short for decentralized finance),” and “NFTs” and wondering what all the fuss is about, you’re not alone. Solomon Exam Prep’s new “DeFi and Digital Assets” continuing education course offers a look into the world of digital assets through the lens of fiduciary duty.

The course discusses examples of digital assets such as cryptocurrency, dApps, DeFi Projects, and Non-Fungible Tokens (NFTs). You’ll learn about the function of these digital assets and asset tools, as well as the benefits and drawbacks for IARs and their clients. This includes a discussion of whether IARs have the tools to provide a sufficient suitability analysis on these digital assets for their clients. The course ends with an assessment of the SEC’s regulatory framework for these assets.

By the end of the course, you’ll be able to do the following:
    • Explain the Prudent Investor Rule and identify two factors that are important in presenting a suitability analysis
    • Identify at least one advantage and one disadvantage to using a smart contract-based dApp as opposed to a traditional financial instrument
    • Compare and contrast a normal digital token with an NFT
    • Identify how digital assets present a different kind of transparency when compared with traditional financial instruments
    • Identify three differences in the risk profile of a digital asset compared to a traditional financial asset, including two difficulties associated with assessing risk
    • Explain conflict of interest that occurs due to valuation methods in digital asset portfolios

The DeFi and Digital Assets course is worth one credit for the Ethics and Professional Responsibility category and falls into the ethics sub-category. Out of the 12 total required credits, IARs must complete six credits of Ethics and Professional Responsibility courses each year. Three of these must specifically be ethics courses.

Solomon Exam Prep Investment Adviser Representative Continuing Education program
Solomon Exam Prep IAR CE course platform

About Solomon IAR CE courses

Solomon’s online IAR CE courses are self-paced and accessible on any internet-enabled device. Each course consists of short reading passages followed by quick assessments of 2–4 questions each. This read-and-quiz format facilitates learning and retention.

All Solomon IAR CE courses earn credit towards the Products and Practices or the Ethics and Professional Responsibility categories required by NASAA. Once activated, you have up to 365 days to complete a course. When you finish a course, Solomon reports completion to FINRA, NASAA’s vendor for program tracking.

What is the IAR CE requirement?

Investment Adviser Representatives registered in a jurisdiction that has adopted and implemented the NASAA model rule must do annual continuing education. To fulfill the IAR CE requirement, IARs must complete 12 credits of continuing education each calendar year.

To learn more about the IAR CE requirement, visit the Solomon IAR CE FAQs page. Explore Solomon’s entire IAR CE course library – purchase individual courses or a membership to the whole library and complete all your IAR CE in one place.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Kentucky Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Kentucky must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Kentucky is the latest state to adopt the NASAA model rule that requires investment adviser representatives (IARs) to complete annual continuing education (CE). The CE requirement will go into effect on January 1, 2023, for IARs registered in Kentucky.

Michigan and Wisconsin will also require IARs to complete CE starting in 2023.

Other states that are in the process of adopting IAR CE are Arkansas, Nevada, and Washington D.C. If these jurisdictions finalize adoption of the CE requirement in 2022, then it will go into effect in 2023.

The IAR CE requirement went into effect in Maryland, Mississippi, and Vermont on January 1, 2022. As a result, IARs registered in these states must complete CE by the end of this year. The requirement applies to both state-registered and federal-registered investment advisers.

IARs who are required to complete CE must take 12 credits of CE coursework each year. NASAA allows IARs to choose courses they’re interested in, but the courses and course provider must be approved by NASAA.

Solomon Exam Prep is a NASAA-approved CE provider, and all the courses in Solomon’s IAR CE course library earn credits towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

New Editions of the Solomon Series 63, 65, & 66 Study Guides

If you plan to take the NASAA Series 63, Series 65, or Series 66 exams, the new editions of these Solomon Study Guides are now available. Continue reading

Are you thinking about pursuing a career as an investment adviser representative? Do you need to register in a state as a broker-dealer representative? Or perhaps you’d like to qualify as both a securities agent and an investment adviser representative? If you said “yes” to any of these questions, then you likely need to take either the Series 63, Series 65, or Series 66 exam.

Solomon Exam Prep is excited to announce the release of new editions of Solomon’s Series 63, Series 65, and Series 66 Study Guides! Solomon Study Guides present the information you need to know in easy-to-understand language, helpful charts and graphs, and practice questions. You’ll be well-prepared for these exams with Solomon’s updated editions:

    • Series 63 Study Guide, 6th Edition
    • Series 65 Study Guide, 4th Edition
    • Series 66 Study Guide, 5th Edition
What changes with these new editions?

While the core content of the study guides remains the same, some key changes include:

    • New sections on the Securities and Exchange Commission (SEC) Marketing Rule
    • New sections on private foundations versus donor-advised funds
    • Updated 2022 tax information

Content updates for these new editions are also reflected in the Solomon Exam Simulator. The online Exam Simulator complements the study guides with thousands of practice questions for the Series 63, Series 65, and Series 66 exams. Hone, track, and assess your knowledge by taking unlimited chapter quizzes and full exams to practice what you’ve learned.

What are the Series 63, Series 65, and Series 66 exams?

The North American Securities Administrators Association (NASAA) created the Series 63, Series 65, and Series 66 exams. NASAA represents state securities regulators in North America, with the goal of protecting and educating investors.

The Series 63, Uniform Securities Agent State Law Examination, is the state law test for broker-dealer representatives. Of the three exams, the Series 63 is the shortest at 65 questions.

The Series 65, Uniform Investment Adviser Law Examination, qualifies individuals to become investment adviser representatives. The Series 65 exam consists of 130 questions.

Passing the Series 66, the Uniform Combined State Law Examination, qualifies an individual as both a securities agent and an investment advisor representative. However, to register as an investment adviser representative based on the Series 66, an individual must also pass the FINRA Series 7 exam. The Series 66 exam is 100 questions.

Solomon Exam Prep President and Co-founder, Jeremy Solomon, points out that there has been a rise in the number of investment adviser representatives, along with a shift towards firms registered as both broker-dealers and investment-advisers.

“At Solomon, our data show that more and more individuals are taking NASAA exams, especially the Series 65 and Series 66. With new editions of Solomon Study Guides for these exams, we continue our strong track record of helping thousands of financial professionals achieve their career goals by passing these important NASAA qualification exams.”
Jeremy Solomon
Solomon Exam Prep President and Co-founder

The Solomon Series 63, Series 65, and Series 66 Study Guides are available as digital subscriptions, with a hardcopy upgrade option. The guides can be purchased individually or in a package with accompanying study products. Customers also have access to free tools and resources, including Solomon Study Schedules in digital and pdf format, which help students master the exam material with maximum efficiency.

Additional study products for the Series 63, Series 65, and Series 66 exams include Audiobooks, Video Lectures, Flashcards, and Live Web Classes. To learn more about Solomon Exam Prep’s study materials for these exams, visit the Solomon website.

NASAA Ending Most Online Testing for Series 63, 65, and 66 Exams

If you’re planning to take the Series 63, Series 65, or Series 66 exam after March 31, 2022, testing online will not be available for most candidates. Continue reading

Starting April 1, 2022, the North American Securities Administrators Association (NASAA) will no longer offer the option to take the Series 63, Series 65, and Series 66 exams online. Online testing for these exams will only be available for candidates who provide medical proof that they cannot take exams in testing centers.

If you’re currently scheduled to take a NASAA exam online on or before March 31, 2022, then this announcement does not apply to you.

However, if you have an online appointment for any dates after March 31, it will be canceled. In this case, you can either submit an accommodation request to FINRA or schedule a new appointment at a Prometric testing center. To learn more about submitting a request for testing accommodations, visit the FINRA Testing Accommodations page.

You can find more information about enrolling for and scheduling the Series 63, Series 65, and Series 66 exams on the FINRA Test Enrollment Services System.

  

Want a curated collection of our most relevant blog posts delivered straight to your email inbox each month? Subscribe to the Solomon Monthly Newsletter and get securities exam study tips, industry news, and more! Just click the button below to join.

Arkansas, Kentucky, and the District of Columbia Move to Adopt IAR CE Requirement

Arkansas, Kentucky, and Washington, D.C. have begun the process to adopt NASAA Investment Adviser Representative continuing education. Continue reading

Arkansas, Kentucky, and Washington D.C. have begun the process to adopt NASAA’s new continuing education (CE) requirement for investment adviser representatives (IARs). If the two states and the District of Columbia adopt the CE requirement by the end of 2022, then it will go into effect on January 1, 2023.

Nevada is also in the process of adopting the CE requirement for IARs. Michigan and Wisconsin finalized adoption of the IAR CE requirement, and implementation will start in 2023 in those states.

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. That means that IARs who are registered in these states must complete CE by the end of 2022. The requirement applies to both state-registered and federal-registered investment advisers.

IARs who are affected by the CE requirement will have to complete 12 credits of CE coursework per year: six credits in Products and Practices and six credits in Ethics and Professional Responsibility, with at least three about ethics. To earn CE credit, courses must be taken from a NASAA-approved vendor, such as Solomon Exam Prep.

To learn more about Solomon’s on-demand IAR CE courses, explore the Course Library.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

How to Pass the NASAA Series 63 Exam

Thinking about taking the Series 63 exam? Keep reading to learn what the Series 63 qualifies you to do, what the exam covers, and how you should prepare for it. Continue reading

The Series 63, also known as the Uniform Securities Agent State Law Exam, is the state law test for broker-dealer representatives. Passing the Series 63 is required by most U.S. states if you want to register in a state as a registered representative. However, to be fully registered, you may also need to pass the FINRA Securities Industry Essentials (SIE) exam and the Series 6, 7, 22, 52, 79, 82, or 99. For example, if you plan to sell securities for a broker-dealer, you must pass the Series 6 or 7 (plus the co-requisite SIE) in addition to the Series 63.

The Series 63, Series 65, and Series 66 exams were all created by NASAA, which represents state securities regulators in the U.S., Canada, and Mexico. The goal of NASAA is to protect and educate investors to promote the integrity of financial markets. In terms of content, there is a fair amount of overlap between the exams, but each one qualifies individuals a bit differently.

What’s the difference between the Series 63, Series 65, and Series 66 exams?

Of the three exams, the Series 63 is the shortest, at 65 questions. The Series 63 exam covers the registration of persons and securities under the Uniform Securities Act and ethics in the securities industry. As mentioned above, passing the Series 63 permits you to sell securities in a particular state, but you must also pass a FINRA exam (often the Series 6 or 7) in order to become fully registered. For instance, if you pass the Series 6 and Series 63, you are qualified to become a financial adviser or insurance agent who also sells mutual funds and works at a brokerage, investment firm, bank, or insurance company. On the other hand, with the Series 7 and Series 63, you can work as a stockbroker at a brokerage, investment firm, or bank.

If you want to register as an investment adviser representative (IAR), you will need to pass the Series 65 or 66, depending on the state. Some states allow registered brokerage representatives to act as IARs. In these states, if you’ve passed the Series 7, then the 66 will qualify you to become a licensed IAR. If you have NOT passed the Series 7 and want to become an IAR, then you’ll need to take the Series 65 exam. The Series 65 exam contains much of the same information as the Series 7, and it also tests your knowledge of the state laws governing investment advisers. The Series 66 does not cover much of the information from the Series 7, but it does test your knowledge of state laws governing investment advisers. As result, the Series 66 is shorter than the Series 65 (100 questions compared to 130).

If you’re not sure whether you need to pass the Series 63, 65, or 66 for a particular state, check with the state regulator for specific requirements. This page on the NASAA website lists contact information for all state regulators.

About the Exam

The Series 63 exam consists of 60 scored and 5 unscored multiple-choice questions covering the eight topic areas of the Series 63 Content Outline. The 5 additional unscored questions are ones that the exam committee is trying out. These are unidentified and are distributed randomly throughout the exam.

Note: Scores are rounded down to the next lowest whole number (e.g. 71.9% would be a final score of 71% – not a passing score for the Series 63 exam).

Topics Covered on the Exam

The questions on the Series 63 exam cover the following content areas, as determined by NASAA:

Series 63 exam topics

NASAA updates its exam questions regularly to reflect the most current rules and regulations. Solomon recommends that you print out the current version of the NASAA Series 63 Content Outline and use it in conjunction with the Solomon Series 63 Study Guide. The Content Outline is subject to change without notice, so make sure you have the most recent version.

Question Types on the Exam

The Series 63 exam consists of multiple-choice questions, each with four options. You will see these question structures:

Closed Stem Format:

This item type asks a question and gives four possible answers from which to choose.

Typically, how long must an investment adviser keep records?

    1. Three years
    2. Five years
    3. Six years
    4. For the lifetime of the firm
Incomplete Sentence Format:

This kind of question has an incomplete sentence followed by four options that present possible conclusions.

A broker-dealer registered in one state whose only office is located in that state does not need to register in another state if it has:

    1. Less than $50,000,000 in assets
    2. Over $100,000,000 in assets
    3. No non-institutional clients in that state
    4. Five or fewer non-institutional clients in that state
“EXCEPT” Format:

This type requires you to recognize the one choice that is an exception among the four answer choices presented.

All of the following are exempt from registration under the Investment Advisers Act of 1940 except:

    1. A broker-dealer that charges a fee for investment advice
    2. A publisher that charges a fee to write a column about investments
    3. A lawyer that gives investment advice as part of overseeing a client’s estate
    4. A teacher who is paid to teach a class that offers instruction on how to construct a portfolio
Complex Multiple-Choice (“Roman Numeral”) Format:

For this question type, you see a question followed by two or more statements identified by Roman numerals. The four answer choices represent combinations of these statements. You must select the combination that best answers the question.

Which of the following are types of orders issued by an administrator?

    1. Stop order
    2. Cease and desist order
    3. Resume order
    4. Criminal order
    1. I only
    2. II only
    3. I and II
    4. III and IV
  1.  

Answers: 1. B   2. C   3. A   4. C

For an even better idea of the possible question types you might encounter on the Series 63 exam, try Solomon Exam Prep’s free Series 63 Sample Quiz.

Taking the Series 63 Exam

The Series 63 exam is administered by FINRA and can be taken at a Prometric test center or remotely online using Prometric’s ProProctor system. If taking the exam at a test center, you will be given a dry erase pen and whiteboard or a pen and scratch paper, and a basic electronic calculator. You cannot bring notes, paper, or your own calculator. Phones and watches are not permitted either. Due to COVID-19, you are required to wear a mask the whole time you are at the test center. Solomon recommends taking timed practice exams in the Series 63 Exam Simulator while wearing a mask to get used to this added discomfort.

If you’re thinking about taking the test from the comfort of your own home or office with ProProctor, it’s important to be aware of the strict procedures you must follow. See this user guide for complete details. And for a first-hand account of the remote testing experience, read this Solomon blog post.

Test-Taking Tips

Whether you take the exam in person or online, it helps to keep some test-taking strategies in mind. Don’t spend too long on one question—this may cause you to run out of time and not get to other questions you know. If you don’t know the answer to a question, guess at the answer and “flag” it. There is no penalty for guessing, so it is beneficial to answer every question.

After you have finished all the questions, you can come back to any flagged questions. Not only does this strategy allow you to efficiently answer the ones you know, but it can also help because you might learn something later in the exam that may help you answer an earlier question. Just remember to save enough time to return to the questions you didn’t answer. However, it is not a good idea to simply skip all of the difficult questions with the intention of answering them later. You should make a serious effort to answer each question before moving on to the next one, as your thoughts are often clearer early on in the exam-taking process than they will be later.

How to Study for the Series 63 Exam

Follow Solomon Exam Prep’s proven study system:
    • Read and understand. Read the Solomon Study Guide, carefully. The Series 63 is a knowledge test, not an IQ test. Many students read the Study Guide two or three times before taking the exam. To increase your ability to focus while reading, or as an alternative to reading, listen to the Series 63 Audiobook, which is a word-for-word reading of the Study Guide.
    • Answer practice questions in the Exam Simulator. When you’re done with a chapter in the Study Guide, take 4–6 chapter quizzes in the Solomon Exam Simulator. Use these quizzes to give yourself practice and to find out what you need to study more. Make sure you read and understand the question rationales. When you’re finished reading the entire Study Guide, review your handwritten notes once more. Then, and only then, start taking full practice exams in the Exam Simulator. Aim to pass at least six full practice exams and try to get your Solomon Pass Probability score to at least an 80%; when you reach that point, you are probably ready to sit for the Series 63 exam.
Use these effective study strategies:
    • Take handwritten notes. As you read the Study Guide, take handwritten notes and review your notes every day for 10 to 15 minutes. Studies show that the act of taking handwritten notes in your own words and then reviewing them strengthens learning and memory.
    • Make flashcards. Making your own flashcards is another powerful and proven method to reinforce memory and strengthen learning. Solomon also offers digital flashcards for the Series 63 exam.
    • Research. Research anything you do not understand. Curiosity = learning. Students who take responsibility for their own learning by researching anything they do not understand get a deeper understanding of the subject matter and are much more likely to pass.
    • Become the teacher. Studies show that explaining what you are learning greatly increases your understanding of the material. Ask someone in your life to listen and ask questions. If you don’t have anyone, explain it to yourself. Studies show that helps almost as much as explaining to an actual person (see Solomon’s previous blog post to learn more about this strategy!).
Take advantage of Solomon’s supplemental tools and resources:
    • Use all the resources. The Series 63 Resources folder in your Solomon student account has helpful study tools, including documents that summarize important exam concepts. There is also a detailed study schedule that you can print out – or use the online study schedule and check off tasks as you complete them.
    • Watch the Video Lecture. This provides a helpful review of the key concepts in each chapter after reading the Solomon Study Guide. Take notes to help yourself stay focused.
  • Good practices while studying:
    • Take regular breaks. Studies show that if you are studying for an exam, taking regular walks in a park or natural setting significantly improves scores. Walks in urban areas or among people did not improve test scores.
    • Get enough sleep during the period when you are studying. Sleep consolidates learning into memory, studies show. Be good to yourself while you are studying for the Series 63: exercise, eat well, and avoid activities that will hurt your ability to get a good night’s sleep.

You can pass the NASAA Series 63 Exam! It just takes focus and determination. Solomon Exam Prep is here to support you on your path to becoming qualified to sell securities within a state!

Explore all Solomon Exam Prep Series 63 study materials, including the Study Guide, Exam Simulator, Audiobook, Video Lecture and Flashcards.

Looking for more support as you prepare for the Series 63 exam? Solomon offers Live Web Classes for the Series 63

For more helpful securities exam-related content, study tips, industry updates, and promotional offers sent directly to your inbox, join the Solomon email list. Just click the button below: