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Series 65 – Uniform Investment Adviser Law Exam

COVID-19 Guidance on FINRA-Administered Exams

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The Series 65 exam — the NASAA Investment Advisers Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA.

The exam consists of 130 scored questions. Candidates have 180 minutes to complete the exam. In order for a candidate to pass the Series 65 exam, he/she must correctly answer at least 94 of the 130 scored questions.

For additional information about this exam, including the content outline, please visit the exams page on the NASAA website.

Accredited Investor
NASAA is in the process of updating questions on the Series 63, 65, and 66 exams in light of recent regulatory changes. Exam questions are expected to be updated to reflect the changes to the accredited investor definition on May 1, 2021. For more information about qualifying as an accredited investor by passing the Series 65, please refer to NASAA’s Exam FAQs.