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FINRA Series 63–Uniform Securities Agent State Law Exam FAQs

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FINRA Series 63–Uniform Securities Agent State Law Exam FAQs
What is the FINRA Series 63–Uniform Securities Agent State Law exam?

The FINRA Series 63 – Uniform Securities Agent State Law exam is offered by NASAA in association with representatives of the securities industry and industry associations. This exam is basically designed to qualify candidates as securities agents. The objectives of this examination include the principles of state securities regulation reflected in the Uniform Securities Act (with the amendments adopted by NASAA and rules prohibiting dishonest and unethical business practices). Holistically, it provides the basis for state securities administrators to test the candidate’s knowledge and understanding of state law and regulations

What are the requirements for FINRA Series 63–Uniform Securities Agent State Law exam?

So, to be eligible to take the FINRA exam, you need to be associated with and sponsored by a FINRA member firm or any other applicable self-regulatory organization (SRO) member firm. Passing the exam is the normal requirement for being licensed by a state before a broker-dealer agent or investment adviser representative can work with investors.

What is the syllabus of this exam?

The entire syllabus of exam is divided into the following sections:

1. Regulation of Investment Advisers Including State-Registered and Federal Covered Advisers

2. Regulation of Investment Adviser Representatives

3. Regulation of Broker-Dealers

4. Regulation of Agents of Broker-Dealers

5. Regulation of Securities and Issuers

6. Remedies and Administrative Provisions

7. Communication with Customers and Prospects

8. Ethical Practices and Obligations

What is the duration for completion of FINRA Series 63–Uniform Securities Agent State Law exam?

The time duration of the exam is 75 minutes .

Who should give the FINRA Series 63–Uniform Securities Agent State Law exam?

This exam is for people who wish to be a securities sales agent, an investment banker, a broker, or another professional within the securities industry. This group of people includes the following professionals:

  • Financial Advisers
  • Investment Bankers
  • Financial Services Sales Agents
  • Investment Advisers
  • Commodity Trading Advisors
  • Equity Traders
  • Retail Broker-Dealers
  • Securities Sales Representatives
  • Insurance Agents
  • Financial Analysts
  • Futures Traders
What kind of questions come in this exam?

Holostically, the questions asked in the exam are all multiple-choice type questions.

How can one schedule the FINRA Series 63–Uniform Securities Agent State Law exam?

For scheduling the exam, firstly enroll yourself with FINRA. Then, you will automatically be directed to the correct enrollment process for that exam. Once you are enrolled to take an exam, FINRA will post a 120-day window in which you can schedule an appointment with Prometric, which is their test delivery vendor, to take the exam. Also, it is recommended for you to schedule the exam session in advance as soon as possible to secure the desired exam date.

FINRA offers you the choice to take an exam at a local test center or, for a limited number of exams, remotely online conducted exams. For either appointment type, make sure that you are prepared in advance of your test appointment and also familiar with what to expect on the day of your exam.

How much do one need to score in order to pass the exam?

The passing score for the exam is 43/60

Where can one find online training for preparation of this exam?

FINRA has transformed the delivery of the Continuing Education (CE) Regulatory Element to an online format called the CE Online Program. The CE Online Training Program provides participants with the flexibility to satisfy their CE Regulatory Element requirement from a computer anytime and anywhere.

Whom does FINRA consider as candidates with limited English proficiency?

Candidates with LEP are those who don’t speak English as their primary language and have only limited ability to read, speak, write or understand English.

When should one retake this exam?

For the individuals who need to retake the Series 63 following a failed attempt, the following waiting tenures apply:

  1. After failing the exam the first time, wait for at least 30 days before going to take it a second time.
  2. Again after failing the exam the second time, wait for at least 30 days before scheduling next.
  3. After failing the exam for the third time, wait for a minimum of 180 days before the fourth taking of the exam (and each subsequent taking).
How many questions does this exam asks?

60 questions

How can one prepare for this exam?

In order to prepare, you can follow these methods:

  • Go through the exam objectives
  • Review the details of the exam
  • FINRA has transformed the delivery of the Continuing Education (CE) Regulatory Element to an online format called the CE Online Program. The CE Online Program provides participants with the flexibility to satisfy their CE Regulatory Element requirement from a computer anytime and anywhere.
  • Before, appearing for the exam, you can check out FINRA’s exam tutorial for a better understanding of how the system functions.
  • You can also try the SIE practice test that is available at the official site. For taking the test, Click here
  • Join study groups
  • Practice tests
What does Testpreptraining offer for this exam?

Testpreptraining offers practice tests that are both reliable and enough to practice in order to ace the exam with flying colours. It provides:

  • unique sets of professionally designed questions that make it easier for the candidate to give the actual exam
  • mock tests
  • allows you to create your own practice tests
  • has a pool of experts to address your queries
FINRA Series 63 – Uniform Securities Agent State Law practice test
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