Pass the Series 66 the first time.
Adaptive prep for the NASAA Series 66. Topic-weighted practice exams, adaptive study quizzes, and spaced-repetition flashcards built for dual broker-dealer agent and investment adviser representative registration.
The Series 66 is NASAA's Uniform Combined State Law Examination. 100 scored questions, 150 minutes, 73% to pass, and a $177 fee. The Series 7 is a co-requisite; no SIE prerequisite is added on top.
The Series 66 combines the state agent law content from the Series 63 with the investment adviser law content from the Series 65. Pass it together with the Series 7 and you are eligible for dual registration as both a securities agent and an investment adviser representative. This is the standard path at wirehouses, bank wealth platforms, and any broker-dealer that is also a registered investment adviser. If you do not need a Series 7 (you plan to be fee-only without selling securities transactions), the Series 65 alone is a simpler path.
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Take a full practice exam first.
Before you watch a single video, sit a full-length, timed practice exam in the Prometric view. No music, no phone, no interruptions. The end-of-exam report ranks every unit by your score and its weight on the real exam: that report is your study plan.
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Work units by the report, not the book.
Go down the report list in order. The lowest-scoring unit isn't always the most valuable to fix. CertFuel sorts by weakest area combined with how many points the unit is worth on the real exam, so your time goes where it actually moves your score.
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Run the unit loop, then move on.
For each unit: watch the videos, listen to the podcast, do one Study Quiz and one Flashcard session, read the section, then do one more Quiz and Flashcard set. Don't camp on a single unit. Fly through the content and trust the loop to tighten it up.
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Take a full practice exam every week.
Once a week, sit another timed practice exam. New weak units will surface as old ones improve. Re-rank your queue and run the loop again on whatever's at the top.
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Book the real exam after three 75%+ practice exams in a row.
Real-exam scores tend to land within a few points of your last full practice exam. Three consecutive practice exams at 75% or above is the readiness signal. 80%+ if you want margin for a bad day.
Economic Factors and Business Information
Time value of money (IRR, NPV, FV), descriptive statistics (Alpha, Beta, Sharpe, correlation), financial ratios, and valuation factors (P/E, P/B).
startInvestment Vehicle Characteristics
Cash equivalents, fixed-income (duration, YTM, ratings), equities, derivatives, pooled investments, insurance products, and alternative vehicles.
startClient Investment Recommendations and Strategies
Suitability, portfolio construction, tax considerations, retirement planning, and trading strategies.
startLaws, Regulations, and Guidelines (incl. Unethical Practices)
Investment Advisers Act, NASAA model rules, state agent law, fiduciary duty, and prohibited business conduct.
startWhat is the Series 66?
The Series 66 is NASAA's Uniform Combined State Law Examination. It combines the state agent law content from the Series 63 with the investment adviser law content from the Series 65, so passing it qualifies you to register as both a securities agent and an investment adviser representative at the state level.
Do I need the SIE before the Series 66?
No. The Series 66 does not list the SIE as a prerequisite, but it does require the Series 7 as a co-requisite. Most candidates pass the SIE first (since it is a Series 7 co-req), then the Series 7, then the Series 66.
Is the Series 7 really required?
Yes. The Series 66 is designed to be paired with the Series 7 for dual registration. You can sit for the Series 66 before passing the Series 7, but your state agent and IAR registrations will not become effective until both exams are passed.
What's the passing score and format?
You need 73% to pass (73 of 100 scored questions). The exam has 100 scored questions plus 10 unscored experimental questions, and you have 150 minutes (2 hours 30 minutes) to finish.
How long does it take to prepare?
Most candidates pass the Series 66 in 4 to 6 weeks of consistent study after completing the Series 7. Series 7 holders already know the investment-vehicle content, so prep time concentrates on Investment Advisers Act, NASAA model rules, and state-law specifics.
What happens if I fail?
You can retake the Series 66 after a 30-day waiting period for the first and second failed attempts, and 180 days after a third. The exam fee applies to each attempt.
Series 66 vs Series 63 + Series 65: which path is better?
Mathematically the Series 66 is shorter: one exam (100 questions, 150 minutes, $177) versus two (60 + 130 questions, 75 + 180 minutes, $147 + $187). If you need both state agent and IAR registration and you already have or are pursuing the Series 7, the Series 66 is the standard choice. If you only need IAR registration (no broker-dealer role), the Series 65 alone is sufficient and does not require the Series 7.
Series 66 vs Series 65: which is right for me?
Take the Series 65 if you want to be a fee-only investment adviser without a Series 7. Take the Series 66 if you plan to be a dual-registered rep working for a broker-dealer that is also an RIA (common at wirehouses and bank wealth platforms).
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