Series 66 Exam Requirements and Eligibility

🧾 Series 66 Exam Requirements and Eligibility
📘 Who Can Take the Series 66 and What You Need to Know Before You Register

The Series 66 exam—officially known as the Uniform Combined State Law Exam—is required for individuals who wish to become both investment adviser representatives (IARs) and securities agents. It’s designed to combine the content of the Series 63 and Series 65 exams into a single, streamlined qualification.

If you’re considering taking the Series 66, here’s everything you need to know about eligibility, requirements, and how to register.

🎯 1. What Does the Series 66 License Qualify You to Do?

Passing the Series 66 allows you to:

✅ Act as a securities agent in your state
✅ Provide investment advisory services as an IAR
✅ Fulfill the state registration requirement for individuals offering financial advice or selling securities (in most U.S. states)

Note: The Series 66 does NOT authorize you to sell securities by itself. It must be held in conjunction with the Series 7 license, which qualifies you to sell a broad range of investment products.

🎯 2. Series 66 Exam Eligibility Requirements

To take the Series 66, you must meet the following criteria:

✅ 1. Pass the Series 7 Exam

• You must either have passed or be registered to take the Series 7 exam through a FINRA-member firm.
• The Series 66 only becomes valid if you’ve also passed the Series 7. The Series 66 covers state-level law and advisory content, while Series 7 covers product knowledge and trading rules.

✅ 2. No Sponsorship Required

• Unlike the Series 7, which requires a FINRA-member firm to sponsor you, the Series 66 does NOT require sponsorship.
• This means you can register and take the exam independently, although many candidates take it while already employed at a financial firm.

✅ 3. Age Requirement

• You must be at least 18 years old to take the exam.

🎯 3. Series 66 Exam Format and Structure

• Number of Questions: 100 scored + 10 unscored pretest questions
• Time Limit: 150 minutes (2.5 hours)
• Passing Score: 73% (73 out of 100 correct)
• Question Format: Multiple-choice only
• Testing Provider: Administered by FINRA on behalf of NASAA (North American Securities Administrators Association)

🎯 4. How to Register for the Series 66

If You’re Employed at a Firm:

• Your firm will register you through FINRA’s Web CRD system using Form U4.

If You’re Not Employed:

• You can register yourself through FINRA.org and file a Form U10, which is for individuals not affiliated with a firm.

Exam Fee:

• The current Series 66 exam fee is $187 (as of 2025).
• The fee is non-refundable, so be sure you’re ready to commit to the study process.

🎯 5. What Topics Does the Series 66 Cover?

The exam is divided into four major topic areas:

Topics include:

• Types of investment products (stocks, bonds, mutual funds, ETFs, etc.)
• Portfolio construction and management
• Ethical practices and fiduciary duties
• State and federal securities regulations
• Registration requirements for firms and agents

🚀 6. Summary: Series 66 Requirements Checklist

✅ Must be 18 years or older
✅ Must pass or be registered to take Series 7
✅ No sponsorship required
✅ Register via Form U10 (if unaffiliated) or Form U4 (if with a firm)
✅ Pay the $187 exam fee
✅ Prepare for 100 questions in 2.5 hours
✅ Score 73% or higher to pass

🎓 Want to pass your Series 66 on the first try?
Get full access to study guides, flashcards, practice exams, and strategy tips at
👉 https://finra-exam-mastery.com

Take the next step toward becoming a licensed investment adviser representative and securities agent today!