Series 65 Content Adjustments Announced by FINRA

📌 Key Updates to the Series 65 Exam

1. Passing Score Adjustment

• The passing score has been revised to 92 out of 130 questions, equating to approximately 70.77%. ​Investopedia+4Achievable Test Prep+4NASAA+4

2. Content Revisions

• Removed Topics:
  • Viatical/life settlements
  • Investment real estate
  • Dark pools​Kaplan Financial+1Achievable Test Prep+1Bracewell LLP+2Achievable Test Prep+2Kaplan Financial+2
• Added Topics:
  • Special Purpose Acquisition Companies (SPACs), blind pools, and blank check companies
  • Digital assets, including cryptocurrencies
  • Environmental, Social, and Governance (ESG) and religious-based investment considerations
  • Government benefit implications, such as income-related monthly adjustment amounts
  • Donor-advised funds
  • Regulation Best Interest (Reg BI) and standards of care
  • Payment for order flow
  • Distinctions between introducing and clearing broker-dealers
  • Investment Adviser Representative (IAR) continuing education requirements
  • Exploitation of vulnerable adults​Achievable Test Prep+1Kaplan Financial+1Kaplan Financial+1Achievable Test Prep+1

These additions reflect the industry’s shift towards more complex financial instruments and a heightened focus on ethical considerations. ​

3. Secure Act 2.0 Integration

• The exam now includes updates related to the Secure Act 2.0, particularly concerning retirement planning and required minimum distributions (RMDs). ​NASAA

🧠 Implications for Candidates

• Study Materials: Ensure that your study resources are up-to-date, reflecting the latest exam content and structure.​
• Focus Areas: Pay special attention to the newly added topics, as they are now integral parts of the exam.​
• Practice Exams: Utilize practice tests that mirror the current exam format and content to better prepare.​Kaplan Financial

For a detailed breakdown of the exam structure and content, refer to the official Series 65 Exam Content Outline.