Examination Requirements

What this video covers

• Why passing the Series 65 does not by itself make a person an investment adviser representative (IAR), and the two-step logical flow (pass exam, then register through a firm)
• The two valid exam pathways: Series 65 alone, or Series 66 plus Series 7 plus the Securities Industry Essentials (SIE), and why the Series 66 alone is never sufficient
• The validity windows: 2 years for the Series 65, Series 66, and Series 7; 4 years for the SIE; and how the clock only starts when continuous registration ends
• The five closed-list designations that waive the entire exam requirement (CFP, ChFC, PFS, CFA, CIMA), and why CPA alone does not qualify
• Why a qualifying designation waives compliance with the whole examination requirement, not merely substitutes for the Series 65
• How the Financial Industry Regulatory Authority (FINRA) Maintaining Qualifications Program preserves only FINRA exams (Series 7, SIE) for unregistered individuals between 2 and 5 years, never the North American Securities Administrators Association (NASAA) exams (Series 65, Series 66)
• The Administrator's broader independent authority to waive exams for protection of advisory clients, beyond the Model Rule's five enumerated designations