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Your Series 66 study companion
Series 66 Study Center & Exam Guide
Prepare for NASAA’s Uniform Combined State Law Examination with the current four-section NASAA outline, exam format, scored-item counts, and a focused study plan.
Meet the exam
What the Series 66 exam measures
NASAA develops the Uniform Combined State Law Examination, and FINRA administers it. The Series 66 combines state securities-agent and investment adviser representative subject matter. FINRA lists Series 7 as a co-requisite. Passing alone does not grant state registration or permission to conduct regulated business.
The 10 pretest questions are mixed into the exam and are not identified. Treat every question as if it counts.
Your content map · NASAA outline
Plan review across the four Series 66 sections
Use NASAA’s exact scored-item counts to set study priorities. The laws, regulations, and ethics section makes up 45% of scored questions, while client recommendations and strategies account for 30%.
| Section | Weight | Scored items | Study focus |
|---|---|---|---|
| I. Economic Factors and Business Information | 8% | 8 | Analytical methods, statistics, financial ratios, valuation, and time value of money. |
| II. Investment Vehicle Characteristics | 17% | 17 | Cash, fixed income, equities, pooled and derivative products, alternatives, insurance-based products, and other assets. |
| III. Client Investment Recommendations and Strategies | 30% | 30 | Client profiles, portfolio strategies, taxes, retirement plans, ERISA, trading, special accounts, and estate planning. |
| IV. Laws, Regulations and Guidelines Including Prohibition on Unethical Business Practices | 45% | 45 | State and federal securities laws, registration, disclosure, client communications, remedies, fiduciary obligations, conflicts, and unethical conduct. |
These weights and counts follow NASAA’s Series 66 specifications effective June 12, 2023. The 10 unscored pretest questions may come from any of the four sections.
Pick a direction
Choose a study route that fits your gaps
Use missed and guessed questions as signals. Identify the client facts and transaction, name the relevant rule, and explain how the law, investment features, risk, and recommendation fit together.
Reserve the largest study blocks for section IV, then return to recommendations and investment vehicles with mixed practice questions.
A routine you can adapt
A four-week Series 66 study plan
Adjust the pace to your background and exam date. Keep an error log with the rule or concept, the relevant client fact, and why your first answer missed it.
Week 1 · Analysis and investments
Study sections I–II. Practice statistics, financial ratios, valuation, and time value of money, then compare investment products by risk, liquidity, tax treatment, and valuation.
Week 2 · Client recommendations
Study section III. Build client profiles and connect objectives to portfolio strategies, taxes, retirement plans, ERISA, account types, trading, and estate planning.
Week 3 · Laws and registration
Begin section IV. Review adviser, representative, broker-dealer, agent, securities, and issuer definitions; registration, exemptions, remedies, and Administrator authority.
Week 4 · Ethics and mixed review
Finish section IV with client communications, contracts, disclosure, custody, compensation, conflicts, privacy, and prohibited practices. Complete timed mixed practice.
Use NASAA’s Series 66 outline as the scope reference. Do not substitute Series 63 or Series 65 section counts for the Series 66 blueprint.
Official exam information · independent study tools
Series 66 practice and study resources
Use NASAA for current content specifications and FINRA for exam administration and co-requisite guidance. Independent practice tools can help locate gaps; compare their coverage with NASAA’s current Series 66 outline.
NASAA Series 66 outline
Read the current four-section specifications and scored-item counts.
NASAA exam overview
Review format, timing, passing score, and qualification purpose.
NASAA study guide
Review the official exam structure, legal sources, and topics.
FINRA Series 66 page
Confirm the Series 7 co-requisite and current exam information.
Mometrix Series 66 practice test
Use the free practice resource and review missed questions by section.
Mometrix Series 66 study guide
Explore the Exam Secrets guide and compare it with NASAA’s outline.
Series 66, NASAA, and FINRA are marks or designations of their respective owners. This independent study center is not affiliated with or endorsed by NASAA or FINRA.
Quick answers
Series 66 exam questions, answered
How many questions are on the Series 66 exam?
NASAA’s current overview lists 110 multiple-choice questions: 100 scored and 10 unidentified pretest questions.
How long is the Series 66 exam?
The current NASAA outline gives candidates 150 minutes.
What is the Series 66 passing score?
You must correctly answer at least 73 of the 100 scored questions.
Who develops and administers the Series 66?
NASAA develops the exam and outline; FINRA administers the examination.
Does passing the Series 66 grant a securities license?
No. Passing may satisfy qualification requirements, but the applicable state must grant registration before you conduct regulated business.
What topics are on the Series 66?
The four areas cover economic factors and business information; investment vehicle characteristics; client investment recommendations and strategies; and laws, regulations, guidelines, and prohibited unethical practices.
Is Series 7 required with Series 66?
FINRA lists Series 7 as a co-requisite. Confirm current registration requirements with FINRA and the applicable state regulator.
Are the 10 pretest questions marked?
No. The 10 pretest items are mixed into the exam and are not identified.
Check the source
Official sources and update notes
Exam structure and scored-item weights follow NASAA’s specifications effective June 12, 2023. Registration and test-day details can change, so confirm current requirements with NASAA, FINRA, and the applicable state regulator.
- NASAA Series 66 Test Specifications — effective June 12, 2023; four sections and exact scored-item counts.
- NASAA Series 66 exam overview — 110 questions, 100 scored, 10 pretest, 150 minutes, and 73 correct to pass.
- NASAA Series 66 Study Guide — structure, subject scope, legal sources, and specifications.
- NASAA Exam FAQs — retake and candidate guidance.
- FINRA Series 66 exam page — exam format, scoring, and Series 7 co-requisite.
- Mometrix Series 66 practice exam — independent provider practice resource.
- Mometrix Series 66 study guide — independent provider study resource.
Reviewed October 15, 2026. This independent exam-preparation resource is educational material and does not guarantee a license or exam result.