The North American Securities Administrators Association (NASAA) has recently announced significant changes to the Series 63, Series 65, and Series 66 exams, which came into effect on June 12, 2023. These exams play a critical role in qualifying professionals to engage in securities-related activities and are administered by NASAA in collaboration with the Financial Industry Regulatory Authority (FINRA). The new changes aim to enhance the licensing process and ensure that industry professionals possess the necessary knowledge and skills to navigate today's evolving financial landscape. The following changes have been implemented.
The total number of questions on the Series 63, 65, and 66 exams are not changing. In regards to content, the outline is not changing for the Series 65 exam, and the structure will be very similar for the Series 63 and Series 66 exams. For the Series 63 exam, Regulation of Broker-Dealers and Regulation of Agents have 3 fewer questions but there are 2 more on Regulation of ecurities and Issuers and 1 more on Remedies and Administrative Provisions. For the Series 66 exam, Economics and Business Information has been increased from 5 to 8 questions. Correspondingly, Investment Vehicle Characteristics has been reduced from 20 to 17 questions. The Series 63 and Series 66 will not have any scoring updates, but the Series 65 will be updated to require candidates to submit 92 correct answers instead of 94 in order to receive a new passing score of 70%, reduced from 72%. More Info here.
Is Your Advisor NASAA Qualified?
Belite Capital places utmost importance on ensuring that its advisors are compliant and qualified to participate in the securities industry. Belite Capital conducts professional due diligence on advisors by performing thorough background checks and verification of their licenses, certifications, and registrations. The firm ensures that its advisors adhere to all regulatory requirements, including ongoing continuing education and compliance training. By prioritizing compliance and qualification, Belite Capital guarantees that its clients receive expert guidance from highly knowledgeable and ethically sound advisors. Does your advisor possess the necessary compliance with the securities industry to manage your investments?