Series 66 Exam
Definition - What does Series 66 Exam mean?
The Uniform Combined State Law Examination, also called the Series 66 Exam, is one of two exams that must be completed before an individual is qualified to register with the state as either a securities agent or an investment adviser representative.
Testopedia explains Series 66 Exam
Developed by NASAA, the Series 66 is comprised of 110 questions; 100 multiple-choice questions along with an additional 10 test questions that are being piloted for future exams. The entire exam must be completed within 150 minutes and is closed book. Although individual testing centers will provide a calculator and scratch paper at the candidate’s request.
Each candidate will be required to pay the $128 testing fee and then schedule his or her exam with ProMetric. This exam is proctored and is only offered through qualified exam centers around the country.
Scores for the Series 66 Exam are processed through the Financial Industry Regulatory Authority headquarters with final results being delivered to each candidate's individual sponsor. Successful candidates must score a minimum of 75% to pass. Upon successful completion of both the Series 66 the Series 7 exams candidates become eligible to register themselves as Registered Investment Adviser Representatives. Either test may be taken first, but both must be passed before the candidate becomes eligible to move forward.