How to Choose Between Series 63 and Series 66

🟦 How to Choose Between Series 63 and Series 66

Choosing between the Series 63 and Series 66 exams can be a crucial decision for your career in securities, as both exams have distinct purposes and requirements. While they share some similarities, understanding their differences will help you decide which is the best option based on your career goals, licensing needs, and the type of services you want to offer.

Here’s a detailed comparison to help you choose the right exam:

📘 Series 63: Uniform Securities Agent State Law Exam

Purpose:

The Series 63 exam is required for individuals who want to become a securities agent in a particular state. It primarily focuses on state securities regulations and the ethical standards associated with securities transactions.

Who Should Take the Series 63:

• If you want to work as a broker or sales agent for a broker-dealer or investment firm.
• If you plan to sell securities (stocks, bonds, mutual funds, etc.) but do not need to provide investment advice.
• If your firm is already sponsoring you for the Series 6 or Series 7, the Series 63 is usually required in most states to register as a securities agent.

Content Focus:

• State securities regulations (Uniform Securities Act)
• Ethical guidelines for conducting securities transactions
• Registration and licensing procedures for brokers
• Antifraud provisions, including illegal activities like insider trading

Passing Score:

• 43 out of 60 questions correct (approximately 72%)

Duration:

• 75 minutes for the exam.

No Prerequisite:

• No prerequisite exams are required before taking the Series 63 exam.

📘 Series 66: Uniform Combined State Law Exam

Purpose:

The Series 66 exam is a combined exam for securities agents and investment adviser representatives (IARs). It is designed for individuals who wish to provide both investment advice and sell securities. This exam is often taken in combination with the Series 7 to gain comprehensive licensing.

Who Should Take the Series 66:

• If you want to act as both a securities agent and an investment adviser representative (IAR).
• If you’re looking to offer advisory services (e.g., retirement planning, investment strategies) in addition to selling securities.
• If you’re already holding the Series 7 license (the Series 66 is often taken after passing the Series 7).

Content Focus:

• Investment adviser regulations, including fiduciary duty
• Securities regulations at both the state and federal levels
• Ethical practices in advisory services
• Client relationships, including suitability and investment strategies
• Types of investments, including stocks, bonds, mutual funds, and more

Passing Score:

• 73 out of 100 questions correct (approximately 73%)

Duration:

• 150 minutes for the exam.

Prerequisite:

• Series 7 is typically required before taking the Series 66.

🔑 Key Differences Between Series 63 and Series 66

🧐 How to Decide Which Exam to Take

1. Your Career Goals

• If your goal is to sell securities (e.g., stocks, bonds, mutual funds) but not provide investment advice, the Series 63 is sufficient.
• If you plan to offer both securities sales and investment advice, the Series 66 is the better choice.

2. Your Current or Future Licensing Needs

• If you’re already licensed with the Series 7 or planning to take it, the Series 66 will give you the ability to act as both a securities agent and an investment adviser representative.
• If you don’t need to provide advisory services, Series 63 may be all you need.

3. States and Job Requirements

• Some states may require the Series 63 in addition to the Series 6 or 7 for securities agents.
• If you want to work as an investment adviser or in wealth management, the Series 66 offers broader capabilities.

🎓 Conclusion: Which One Is Right for You?

• Choose the Series 63 if your role will focus primarily on selling securities and you don’t need to provide investment advice.
• Choose the Series 66 if you want to offer both investment advice and sell securities, and if you’re already planning to take the Series 7 exam.

Both exams are key to a successful career in the financial services industry, but your choice depends on your specific career path and job responsibilities.

🎓 Ready to begin your Series exam prep?
Start today with expert-led courses and study materials to ensure your success in the Series 63 or Series 66 exam!