How do I schedule my Series 66 exam?
A firm will file an electronic Form U4 for a candidate, or an individual will file a Form U10 and pay the registration fee to FINRA. Upon registering, a candidate will have 120 days to schedule the exam. You can find more details here.
What does the Series 66 qualify me to do?
In conjunction with the FINRA Series 7 General Securities Representative license, the NASAA Series 66 license qualifies you as both a securities agent and an investment advisor representative. The FINRA Series 7 General Securities Representative exam is a co-requisite to the Series 66, meaning that you must pass both exams (it doesn’t matter which one you take first) in order to apply to register with the state.
How long should I prepare for this exam?
We recommend studying 60-80 hours over a three- to five-week period.
What score do I need to pass the exam?
A score of 73% is required for passing.
Note: Scores are rounded down to the lowest whole number, so a 72.9% would be a final score of 72%-- not a passing score for the Series 66 exam.
What happens if I pass the Series 66 but I do not complete the registration process?
After passing the Series 66, you have two years to become registered with a state otherwise the exam will show “expired” in the Central Registration Depository, and you will have to sit for the exam again. Contact your state regulator for more information regarding your state’s registration rules and process.
How many questions are on the exam?
There are 100 scored and 10 unscored questions. These 10 unscored questions are randomly distributed so test-takers do not know which ones they are. The unscored questions are being tried out by the exam committee.
How long is the exam?
Two and a half hours.You are allowed to take restroom breaks during the exam; however, the clock will continue counting down. Please contact your preferred testing center for additional information.
Are there other FINRA exams I need to complete as a prerequisite to attempting the Series 66?
The Series 7 is a co-requisite. The most prudent course of action would be to pass the Series 7 before the Series 66, as much of the information tested on the Series 7 is assumed on the Series 66 exam.
How much does the exam cost?
The cost of the exam is $155 at this writing.
If I stop working for my firm, how long will my Series 66 license remain active?
You will have two years between jobs before the license expires.
When you cease working for a firm, your employer will file a Form U5 to terminate your registration. Your next employer will file a Form U4, which will re-register you. As long as you do not exceed two years between employers, your Series 66 license will remain active.
General exam questions? See our general FAQs.
For information about Solomon Series 66 exam study materials, please click here.
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