FINRA Exam Statistics: Pass Rates, Trends, and Insights
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
📊 FINRA Exam Statistics: Pass Rates, Trends, and Insights
The FINRA exams—including the SIE, Series 6, 7, 24, 63, 65, and 66—are essential certifications for entering and advancing in the financial services industry. But how many candidates actually pass these exams? What trends have emerged in recent years? And what does this mean for your own study plan?
This guide breaks down pass rates, trends, and data-driven insights to help you prepare strategically.
✅ SIE Exam – Entry-Level Performance
- Average Pass Rate: ~74% (first-time takers)
- Candidate Base: College students, new hires, career changers
- Trend: Slight increase in pass rates since launch in 2018, due to better awareness and more accessible prep tools
🔍 Insight: Candidates with structured courses and practice exams outperform those who rely only on the textbook.
💼 Series 6 – Mutual Funds & Annuities Focus
- Estimated Pass Rate: 60%–65%
- Common Pitfalls: Lack of real-world application, ethics and suitability sections
- Trend: First-time takers from non-finance backgrounds have lower success without guided preparation
🔍 Insight: Understanding customer suitability and account types is crucial to passing.
📈 Series 7 – General Securities Representative Exam
- Estimated Pass Rate: 65%–72%
- Structure: 125 scored questions, heavy focus on suitability, options, and trading regulations
- Trend: Declining pass rates for candidates skipping full-length simulations
🔍 Insight: Candidates scoring 80%+ on two practice exams have the highest real-exam success.
🧑💼 Series 24 – Principal-Level Challenge
- Estimated Pass Rate: 70%–75% (first-time)
- Audience: Supervisors, branch managers, compliance professionals
- Trend: Rule-based questions require deeper application knowledge, not just memorization
🔍 Insight: Simulation testing and scenario-based review improve first-attempt pass outcomes.
🧾 Series 63 – State Law Exam
- Estimated Pass Rate: 75%–80%
- Exam Length: 60 questions
- Trend: High pass rate when paired with Series 6 or 7 prep
🔍 Insight: Ethics and fraud topics carry disproportionate weight—don’t overlook them.
📚 Series 65 – Investment Adviser Law Exam
- Estimated Pass Rate: 65%–70%
- Audience: Independent IARs, financial planners
- Trend: Pass rates drop sharply for candidates skipping business cycle and investment vehicle topics
🔍 Insight: The laws and regulations section accounts for ~35%—master this area.
🔗 Series 66 – Combined State Law Exam
- Estimated Pass Rate: 65%–68%
- Used With: Series 7 (must pass both to register as an IAR)
- Trend: Candidates often underestimate the regulatory depth
🔍 Insight: The ethics and fiduciary responsibility section is heavily tested and often misunderstood.
📊 FINRA Exam Pass Rates Summary Table
| Exam | Estimated Pass Rate | Length | Common Challenge |
|---|---|---|---|
| SIE | 74% | 75 questions | Basic securities terminology |
| Series 6 | 60–65% | 50 questions | Suitability, ethics |
| Series 7 | 65–72% | 125 questions | Options, margin, trading rules |
| Series 24 | 70–75% | 150 questions | Rule interpretation, supervision |
| Series 63 | 75–80% | 60 questions | Ethics, Blue Sky laws |
| Series 65 | 65–70% | 130 questions | Regulations, portfolio theory |
| Series 66 | 65–68% | 100 scored + 10 test | Fiduciary rules, investment types |
📈 Key Trends Across Exams
- 📉 Candidates who only read textbooks have lower pass rates
- 📈 Structured courses with quizzes + simulations drive highest outcomes
- 📉 Many underestimate the difficulty of ethics and rules questions
- 📈 Pass rates improve dramatically with consistent 4–6 week study plans
👉 Access Full FINRA Exam Study Tools, Analytics, and Simulators
Know the data. Prepare strategically. Pass with confidence.