🧩 Is the Series 66 the Same as Taking 63 and 65?

The Series 66 Exam, officially called the Uniform Combined State Law Examination, is often described as a combination of the Series 63 and Series 65 — but it’s important to understand the differences clearly, especially if you’re planning your licensing path.

While the Series 66 covers much of the material tested on the Series 63 and 65, it is not exactly the same. Here’s what you need to know.

🎯 Series 66 Overview

• Purpose:
  • Grants qualification to act as both a securities agent and an investment adviser representative (IAR) at the state level.
• Designed For:
  • Candidates who have already passed, or plan to pass, the Series 7 exam.
• Focus Areas:
  • State securities regulations (like Series 63)
  • Investment adviser regulations and ethical standards (like Series 65)
  • Client recommendations and economic concepts (shared with Series 65)

📚 How Series 66 Compares to Series 63 + Series 65

📌 Important Points to Understand

• Series 66 is shorter than taking Series 63 + Series 65 separately.
• Series 66 is built assuming you already passed Series 7, which covers many investment products — that’s why the Series 66 focuses more on law, ethics, and client recommendations, not the securities themselves.
• If you pass Series 66 + Series 7, you are licensed at the state level as both an agent and an investment adviser representative.
• If you already have Series 63 and Series 65, you do not need the Series 66.

🧠 Quick Scenario Example

📝 Exam Tip

On the Series 66 exam, expect heavy emphasis on:

• Fiduciary duty
• Registration requirements
• Conflicts of interest
• Ethics and prohibited practices
• Client recommendations based on goals, time horizon, and risk tolerance

📥 Prepare the Right Way

Choose the combination that matches your career goals — and study with a plan built for maximum retention and exam success.

👉 Access complete Series 66 exam prep at FINRA Exam Mastery