What Topics Are Covered on the Series 63 Exam?
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 What Topics Are Covered on the Series 63 Exam?
📘 Mastering the Essentials of State Securities Regulation
The Series 63 exam, officially known as the Uniform Securities Agent State Law Exam, is designed to qualify individuals to solicit the sale of securities within a state. It’s focused on state laws, rules, and ethical practices, and is required by most U.S. states for anyone selling securities—even if you already have Series 6 or Series 7.
📚 Main Topics on the Series 63 Exam
The content of the exam is structured around two broad sections:
🧑⚖️ 1. State Securities Acts and Related Rules and Regulations (60–65% of the exam)
This section tests your understanding of the Uniform Securities Act (USA) and covers:
- Registration of persons (broker-dealers, agents, investment advisers, IARs)
- Registration of securities
- Types of securities exemptions
- Authority of the state administrator
- Recordkeeping and filing requirements
- Disciplinary actions and procedures
✅ You must know who must register, when, and how exemptions apply under state law.
⚖️ 2. Ethical Practices and Fiduciary Obligations (35–40% of the exam)
This part evaluates your ability to act ethically and responsibly when dealing with clients and their accounts. Topics include:
- Fiduciary responsibility of investment advisers
- Fraudulent and dishonest practices (churning, unauthorized transactions, etc.)
- Communication with clients (misrepresentation, disclosures, advertising rules)
- Conflicts of interest
- Client account handling and privacy rules
✅ Expect questions on what constitutes unethical or illegal behavior, and how to handle client information properly.
📝 Exam Format & Details
- Total Questions: 60 multiple choice
- Passing Score: 72% (43 correct answers)
- Time Limit: 75 minutes
- Cost: $147
- No sponsorship required to take the exam
🎯 Why It Matters
Even if you’re licensed with Series 6 or Series 7, most states require Series 63 so you can:
- Register with a broker-dealer at the state level
- Legally solicit and execute securities transactions for clients
- Comply with state securities regulations and ethical standards
🎓 Get ready for success with structured preparation and expert-led content at
👉 https://finra-exam-mastery.com
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