The Series 63 exam covers 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). The examination is intended to provide a basis for state securities administrators to determine an applicant's knowledge and understanding of state law and regulations.
Successful completion of the Uniform Securities Agent State Law Examination does not relieve a candidate of the personal responsibility to know and to abide by the specific requirements of the securities laws and regulations of the states in which the candidate transacts business. Furthermore, although successful completion of the examination may satisfy a portion of the requirements of a particular state, it does not convey the right to transact business prior to being granted a license or registration by that state.
The Series 63 exam is administered at Sylvan Prometric computerized testing centers. Series 63 contains 65 questions with 75 minutes of testing time. 60 of the questions are counted, and the passing score is 70%.
The Series 63 exam is not to be taken lightly. Since the exam is taken not just by Series 6 reps, but also by Series 7 and 65 reps, the pool of examinees is more experienced and the Series 63 requires diligent preparation.
After you complete this course and diligently review all sections of the textbook, you will be ready to succeed on Series 63. The average study time for Series 63 is about 20 hours. The 4-hour Financial Academy course can save you weeks of study time.
Major topics covered include:
1. Registration of Persons
2. Securities
3. Business Practices
4. Administrative provisions and other remedies