Series 63 vs Series 66: What’s the Difference?
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 Series 63 vs Series 66: What’s the Difference?
📘 Choosing the Right State Law Exam for Your Career
If you’re entering the securities industry, you’ll likely need to pass either the Series 63 or the Series 66—but not both. These exams focus on state securities laws, but they differ in scope, prerequisites, and career function. Here’s a complete comparison to help you decide which one is right for you.
🎯 1. What Is the Series 63?
The Series 63, or Uniform Securities Agent State Law Exam, is required by most U.S. states for individuals who want to sell securities (e.g., stocks, mutual funds) within the state.
✅ Key Points:
- Primary focus: State laws governing securities agents
- Required for: Broker-dealer representatives who sell securities
- Prerequisite: Typically taken after or alongside Series 6 or Series 7
- Length: 60 multiple-choice questions
- Time limit: 75 minutes
- Passing score: 70%
- Administered by: NASAA (North American Securities Administrators Association)
🎯 2. What Is the Series 66?
The Series 66, or Uniform Combined State Law Exam, is designed for individuals who want to act as both securities agents and investment advisor representatives.
✅ Key Points:
- Primary focus: Combines content from Series 63 and Series 65
- Required for: Those with a Series 7 license who want to give investment advice and sell securities
- Prerequisite: Must also pass the Series 7 (Series 66 alone is not enough)
- Length: 100 scored + 10 unscored questions
- Time limit: 150 minutes
- Passing score: 73%
- Administered by: NASAA
📊 Comparison Table: Series 63 vs Series 66
| Feature | Series 63 | Series 66 |
|---|---|---|
| Purpose | Register as a securities agent | Register as securities agent + IAR |
| Includes investment advice? | ❌ No | ✅ Yes |
| Combines other content? | ❌ No | ✅ Yes (Series 63 + 65 content) |
| Prerequisite | Series 6 or 7 | Series 7 required |
| Number of Questions | 60 | 100 scored + 10 unscored |
| Passing Score | 70% | 73% |
| Time Allotted | 75 minutes | 150 minutes |
| Best For | Broker-dealer reps | Dual-role professionals (sales + advice) |
🎯 3. When Should You Take the Series 63?
Choose Series 63 if:
- You plan to sell securities only and not provide investment advice
- You’re pursuing roles like registered rep, broker-dealer sales agent, or mutual fund rep
- Your firm is only requiring Series 6 + 63 or Series 7 + 63
🎯 4. When Should You Take the Series 66?
Choose Series 66 if:
- You already passed or are planning to take the Series 7
- You want to provide investment advice and sell securities
- You’re pursuing a role like investment advisor representative (IAR), wealth manager, or hybrid rep
🚀 Conclusion: Choose Based on Role & Career Path
- Series 63 = Simpler, quicker, and ideal for sales-focused roles
- Series 66 = More comprehensive and ideal for professionals in advisory + sales roles, especially if you already hold the Series 7
🎓 Ready to prep for Series 63 or 66?
Find full prep courses, simulations, and strategy tools at:
👉 https://finra-exam-mastery.com
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