Series 63, 65, 66
The Series 63 exam: state securities law for agents
Ten state law questions, corrected one at a time, with the topic menu to stay on one of the eight subjects. Format, scoring and study notes follow.
Your score · Series 63
0 / 0
0 / 10 answered
Choose an answer to begin
| Pass: 43 of 60 correct, so 8 of 10 here |
| You can still miss 2 |
Practice questions written by Radif Partners from the official outline topics. They are not questions from the real exam. Progress is kept in this browser only (local storage) and never sent.
The Series 63, officially the Uniform Securities Agent State Law Examination, is the test most states rely on before registering a securities agent, that is a representative of a broker-dealer doing business with their residents. It is written by NASAA, the association of state securities regulators, and delivered by FINRA (FINRA Series 63 page). The exam has 60 scored questions plus 5 pretest questions, 75 minutes in all, and the pass is plain: at least 43 correct answers out of the 60 scored ones. The fee is $147 in 2026. Its content is law rather than products: the Uniform Securities Act of 1956, in the version updated by NASAA, NASAA model rules and statements of policy, and some federal rules. The NASAA study guide spreads the questions over 8 subjects, with ethical practices (15 questions) and communication with customers (12) carrying the most. Passing it does not by itself allow you to do business in a state: each state still has to register you, usually through your firm.
Is my mock score above the passing line?
Result on the official scale
Above the line
| Passing line | 43 of 60 correct |
| Your share | 75% |
| Margin | 2 answers |
| Questions you can miss | 17 |
NASAA sets the pass as a number of correct answers out of the scored questions, so this is exact for a mock of the same length.
Questions, formats and fees by Radif Partners · Editorial policy · Method
The Series 63 in figures
| Series 63, 2026 | |
|---|---|
| Questions | 60 scored questions plus 5 unscored |
| Time | 75 minutes |
| To pass | 43 of 60 scored questions correct |
| Fee | $147 |
| Written by | NASAA, delivered by FINRA |
| Sponsor required | no, though agents are usually enrolled by their firm |
| Retake waits | 30 days, then 180 after a third failure |
The mark is a count, not a scaled score: NASAA states the number of correct answers needed, so a candidate can reason directly in questions. With 17 misses allowed out of 60, the margin is real but thin. The calculator under this text sets any mock score against that line.
The eight subjects
| Subject | Questions | Share | In our pool | |
|---|---|---|---|---|
| 1 | Broker-dealers | 7 | 12% | 11 |
| 2 | Agents | 8 | 13% | 12 |
| 3 | Ethical practices | 15 | 25% | 23 |
| 4 | Communications | 12 | 20% | 25 |
| 5 | Securities and issuers | 5 | 8% | 11 |
| 6 | Investment advisers | 3 | 5% | 6 |
| 7 | Adviser representatives | 3 | 5% | 5 |
| 8 | Remedies and administration | 7 | 12% | 12 |
Where the weight is
Ethics and communications together make up 45% of the exam. Ethics questions describe a practice, such as churning, unauthorized trading, a misleading statement or a loan from a customer, and ask whether it is permitted; NASAA's statement of policy on unethical practices of broker-dealers and agents is the reference. Communication questions mix records, privacy, and even options and margin handling. The adviser subjects carry few questions, but the exam expects an agent to know where advice for a fee begins, so the definitions matter.
Remedies and the administrator
The last subject, 7 questions, deals with what happens when the law is broken: the antifraud provisions, the powers of the state securities administrator to investigate, deny, suspend or revoke a registration and issue orders, and the civil and criminal liability of those who violate the act. The protection SIPC offers customers of a failed broker-dealer also belongs here. These questions reward knowing who may act and against whom.
How the questions read
Most items are short legal scenarios: an agent registered in one state calls a customer vacationing in another; a firm with no office in a state deals only with institutions there; an issuer relies on an exemption. The answer turns on a definition or an exclusion. The traps are words like "agent", "broker-dealer" and "person", which the uniform act defines precisely, and exclusions that look like exemptions. Each Series 63 is assembled individually from NASAA's pool with controls on difficulty and content, so two candidates sitting side by side will not see the same questions.
Who needs it and when
Most states expect agents of a broker-dealer to pass the Series 63, usually soon after the Series 7 or the Series 6. A representative who will also give advice for a fee can take the Series 66 instead, on top of the Series 7. The license finder maps roles to exams. After a failure, NASAA's own waiting periods apply, not FINRA's; the retake page gives the date.
When the practice sets above run well above the line in every subject, the full Series 63 mock checks the same mark on 60 questions under the clock.