Exam comparison
Series 65 vs Series 66
Both cover investment-adviser state law — but the Series 7 is the deciding factor. Here's how to choose.
| Series 65 | Series 66 | |
|---|---|---|
| Purpose | Qualifies you as an Investment Adviser Representative | Combined agent + adviser state law (with Series 7) |
| Series 7 required? | No | Yes — it's a corequisite |
| Sponsor / SIE needed? | No sponsor, no SIE | Requires the Series 7 (which needs sponsorship + SIE) |
| Questions | 130 scored | 100 scored |
| Time | 3 hours | 2 hours 30 minutes |
| Passing score | 72% | 73% |
How to choose
Going the independent RIA route? The Series 65 needs no sponsor and no Series 7 — many future advisers take it on their own. Already working toward the Series 7 at a firm? The Series 66 knocks out both agent and adviser state law in a single, shorter exam. Still mapping the bigger picture? See the full license guide.
Prep for either — or both.
Finance Exam Pro covers the Series 65, Series 66, and every other securities and insurance license, with guided lessons, original questions, and mock exams. Start free.
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