Series 66

Series 66

Offered by NASAA (administered by FINRA)

The Series 66 (Uniform Combined State Law Examination) is NASAA's combined exam for people who will be both broker-dealer agents and investment adviser...

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Series 66 exam at a glance

Format

110 multiple-choice questions (100 scored + 10 unidentified pretest)

Duration

150 minutes

Delivery

Prometric test center (FINRA-administered)

Passing score

73 of 100 scored questions correct

Exam cost

$177 USD

Validity

Tied to registration; extending both agent and IAR credits via EVEP requires enrolling both Series 63 and Series 65 credits where applicable

Prerequisites

Series 7 is a co-requisite (SIE is required for the Series 7 path)

About the Series 66 certification

The Series 66 (Uniform Combined State Law Examination) is NASAA's combined exam for people who will be both broker-dealer agents and investment adviser representatives. Passing it, together with the SIE and Series 7, is treated as equivalent to passing both the Series 63 and Series 65.

The Series 7 is a co-requisite: you cannot use the 66 for dual registration without it.

Who it’s for: Dually registered broker-dealer agents / IARs (typically at firms that do both brokerage and advisory).

Official exam page· Details verified 2026-08

What the Series 66 exam covers
  • Economic Factors and Business Information
    8%
  • Investment Vehicle Characteristics
    17%
  • Client/Customer Investment Recommendations and Strategies
    30%
  • Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practices
    45%
How to study for the Series 66
  1. 1Pass or schedule the SIE and Series 7 — the 66 is not a substitute for them.
  2. 2Weight study toward law and unethical practices (45% of the exam).
  3. 3Use the official NASAA Series 66 study guide.
  4. 4Practice 150-minute exams targeting 73/100.
  5. 5File the correct dual registrations on Form U4 with your firm.
Series 66 — frequently asked questions

Does Series 66 replace Series 63 and 65?

For dual registration with a valid SIE and Series 7, yes — CRD grants 63 and 65 credit. The 66 is not a single standalone license by itself.

Can I take Series 66 without Series 7?

The Series 7 is a co-requisite. Without it, the 66 does not complete agent + IAR qualification.