Can Series 66 Replace Series 63 and 65?

🔄 Can Series 66 Replace Series 63 and 65?

Great question! If you’re navigating state registration requirements, it’s important to understand how the Series 66 exam fits into the picture.

The answer: YES — the Series 66 effectively replaces the need to take both the Series 63 and Series 65 exams. However, there’s an important caveat.

🧾 What the Series 66 Covers

The Series 66, officially called the Uniform Combined State Law Exam, was designed to streamline the process for candidates who want to qualify as both:

• A securities agent (covered by Series 63)
• An investment adviser representative (IAR) (covered by Series 65)

By passing the Series 66, you meet the state law licensing requirements for both roles in one exam.

⚠️ The Key Requirement

The Series 66 must be paired with the Series 7 exam.

👉 Without Series 7, the Series 66 alone does not qualify you.

✅ When Series 66 Works as a Replacement

If you:

• Have passed (or plan to pass) the Series 7,
• Want to register as both a broker-dealer agent and investment adviser rep,

➡️ The Series 66 replaces both Series 63 and Series 65 in one streamlined exam.

❌ When It Does Not Replace Both

• If you are not taking the Series 7 (for example, if you’re only becoming an investment adviser rep), you’ll need to take the Series 65 instead.
• The Series 66 does not cover product knowledge, which is why it’s always paired with the Series 7.

🧠 Quick Comparison

🚀 Plan Your Licensing Path

Want a clear roadmap for your state licensing and exam prep? Get full guides, study resources, and expert tips at:
👉 finra-exam-mastery.com