FINRA Exams That Cover NASAA Content

📚 FINRA Exams That Cover NASAA Content

While FINRA administers many securities licensing exams, several of these exams include rules and ethics governed by the North American Securities Administrators Association (NASAA)—especially when it comes to state securities regulation, fiduciary standards, and investor protection.

Here’s a breakdown of which FINRA exams cover NASAA content, what’s tested, and why it matters for your licensing path.

🧾 What Is NASAA?

NASAA is a regulatory body made up of state securities administrators in the U.S., Canada, and Mexico. It develops and maintains exams that test knowledge of state-level laws, particularly those derived from the Uniform Securities Act (USA).

✅ FINRA Exams That Include NASAA Content

1. Series 63 – Uniform Securities Agent State Law Exam

• Administered by: FINRA
• Developed by: NASAA
• Focus: State securities registration, agent licensing, ethical practices
• Required for: Representatives selling securities in most U.S. states
• Content Areas:
  • Uniform Securities Act provisions
  • Broker-dealer/agent registration
  • Fraud and unethical practices
  • Administrator powers and disciplinary actions

2. Series 65 – Uniform Investment Adviser Law Exam

• Administered by: FINRA
• Developed by: NASAA
• Focus: Laws governing investment advisers, fiduciary duties, portfolio management
• Required for: Individuals acting as investment adviser representatives (IARs)
• Content Areas:
  • Economic concepts and investment vehicles
  • Client recommendations and strategies
  • Fiduciary obligations and compensation rules
  • State law and ethics

3. Series 66 – Uniform Combined State Law Exam

• Administered by: FINRA
• Developed by: NASAA
• Focus: Combines Series 63 and Series 65 content
• Required for: Individuals who hold Series 7 and want to become IARs and registered reps
• Content Areas:
  • Laws and regulations (state + federal)
  • Investment recommendations and strategies
  • Ethics, conflicts of interest, and disclosure

📌 NASAA vs. FINRA Focus

🧠 Why This Matters for Candidates

• If you plan to sell securities across state lines, Series 63 or 66 is required
• If you want to act as an investment adviser representative, you need Series 65 or 66
• All exams with NASAA content emphasize ethics, suitability, and client protection
• Many candidates underestimate the legal depth in these exams—especially Series 65 and 66

🚀 Master NASAA Content with Confidence

Get full coverage of NASAA-based exams with real-world practice and scenario-based drills at
👉 finra-exam-mastery.com

✔ Lifetime access to Series 63, 65, 66 study modules
✔ Lessons built around the Uniform Securities Act and NASAA rulebook
✔ Practice questions modeled after real NASAA exam formats

Understand the laws. Respect the ethics. Pass your exam.