Can You Retake the Series 66 Exam?

📘 Can You Retake the Series 66 Exam?

Yes, you can retake the Series 66 exam if you do not pass it on your first attempt. The Series 66 exam, known as the Uniform Combined State Law Examination, is a licensing exam required for individuals who want to work as investment advisor representatives (IARs) and securities agents in the U.S. The good news is that retaking the exam is allowed, but there are specific guidelines you must follow.

🎯 1. Number of Attempts

• You are allowed to retake the Series 66 exam if you fail the first time.
• However, there are limits to the number of times you can attempt the exam.

FINRA’s Retake Policy:

• After a failed attempt, you must wait 30 days before retaking the exam.
• After a second failed attempt, you must wait 30 more days.
• After a third failed attempt, you must wait 180 days before attempting the exam again.

📝 2. Steps to Retake the Series 66 Exam

If you don’t pass the Series 66 exam, follow these steps to retake it:

1. Review Your Performance:

• After your first failed attempt, review your exam results to identify the areas where you struggled the most.
• The exam will provide a score report that breaks down your performance in different sections of the exam. Focus your study efforts on weak areas.

2. Register Again:

• To retake the exam, you must re-register with FINRA or your sponsoring firm. You’ll need to submit another Form U4 to complete the process.

3. Study and Prepare:

• Invest additional study time to reinforce your understanding of the material.
• Consider using new study materials, such as practice exams or updated guides, to improve your knowledge.
• Focus on areas that you didn’t perform well in the first attempt, based on your score report.

4. Pay the Exam Fee:

• You will need to pay the $175 exam fee again when registering for a retake.

📅 3. Important Considerations for Retaking the Series 66 Exam

• Study Time: The Series 66 exam is challenging, and it’s important to give yourself enough time to properly prepare before retaking it. Create a study schedule and allocate more time to the topics where you struggled.
• Study Resources: Utilize practice tests, online resources, and courses to strengthen your knowledge of the subjects covered in the exam. Resources like Kaplan Financial, Securities Training Corporation (STC), and Pass Perfect offer targeted study materials.
• Understanding the Content: The Series 66 exam combines topics from both the Series 63 and Series 65 exams. It covers securities regulations, ethical standards, portfolio management, and more, so a deep understanding of each topic is essential.
• Retake Strategy: If you’re retaking the exam after multiple failures, make sure to learn from the previous attempts. Focus on time management during the exam and aim for a balanced study approach across all subjects.

🎓 4. Pass Rates and Tips for Success

The Series 66 exam has a passing rate of approximately 75%, which means that with adequate preparation and focus, you can successfully pass it after a second or third attempt.

Tips for Success:

• Take Practice Exams: Familiarize yourself with the exam format and timing. Practice exams will help you understand the type of questions asked and identify areas of improvement.
• Focus on Key Concepts: Make sure you fully understand the key concepts, such as investment products, regulations, ethical standards, and client management.
• Stay Consistent: Consistency is key. Study regularly and stay committed to your goal.

📝 5. Summary of Series 66 Retake Guidelines

🚀 Ready to Pass the Series 66?

If you didn’t pass the Series 66 exam on your first try, don’t get discouraged! Review the material thoroughly, adjust your study plan, and try again when you’re ready. With preparation, you’ll be one step closer to becoming a licensed investment advisor representative (IAR) and advancing your career in the financial industry.

👉 https://finra-exam-mastery.com/
Good luck with your preparation and the next attempt!