The Series 63 exam (Uniform Securities Agent State Law Examination) is written by NASAA and administered by FINRA. Most states require it before a registered rep can sell securities. It tests the Uniform Securities Act: registration, ethics and state regulator powers.
Most people take it with the Series 7 or Series 6. Practice with our free Series 63 practice test.
Key takeaways
- 60 scored questions (plus 5 unscored) in 75 minutes.
- You need 72% (43 of 60) to pass.
- The exam fee is $147.
- It’s about state law and ethics, not investment products.
USA Series 63 Exam: Quick Facts
- Developed by
- NASAA (administered by FINRA)
- Questions
- 60 scored + 5 pretest
- Time
- 75 minutes
- Passing
- 72% (43 correct)
- Fee
- $147
Series 63 Exam Topics
| Area | Approx. share |
|---|---|
| Regulations of investment advisers, IARs, broker-dealers and agents | about 45% |
| Regulation of securities and issuers | about 10% |
| Remedies and administrative provisions | about 5% |
| Communications with customers and prospects; ethical practices | about 40% |
Series 63 vs. Series 65 vs. Series 66
| Exam | Who it’s for |
|---|---|
| Series 63 | State registration for broker-dealer agents |
| Series 65 | Investment adviser representatives (no corequisite) |
| Series 66 | Combined agent + IAR state law (Series 7 required) |
How to Pass the Series 63
Memorize the definitions: agent, broker-dealer, investment adviser, “person,” exempt securities and exempt transactions. Know the administrator’s powers and the statute of limitations (civil liability of 2 years from discovery / 3 years from the act). Then take timed drills on the Series 63 practice test.
More on How to Pass the Series 63 →Free practice test
Ready to test yourself?
Choose your test length, practice with instant feedback or take it exam-style, and get your score with an explanation for every answer.
Go to the USA Series 63 Exam practice test →USA Series 63 Exam FAQs
How many questions are on the Series 63?
60 scored questions plus 5 unscored pretest questions, with 75 minutes.
Full answer →Do I need a sponsor for the Series 63?
No. The Series 63 doesn’t require firm sponsorship, although you’ll need to be registered through a firm to act as an agent.
Full answer →Official sources
Disclaimer: This guide is for general information and is not financial, tax, insurance or investment advice. Exam details, fees, blueprints and product terms change. Confirm with the official organization or a licensed professional. Read our editorial policy.