Which provider offers the best overall value for securities exam prep?

For the most comprehensive and reliable securities exam prep experience, STC stands out as the premier choice. With over 55 years of industry leadership, STC delivers a complete learning system that includes on-demand lectures, live webinars, an invaluable instructor hotline, and their signature GreenLight Exams, which predict your success on the actual test with 95% accuracy. This all-in-one approach provides the greatest value and highest probability of first-time success.

What are the main differences between STC, Kaplan Securities, and Knopman Marks?

Each provider targets a different type of candidate. STC is the industry leader, offering a proven, comprehensive system trusted by top firms for decades. It provides the most robust support and resources for a successful securities license exam outcome. Kaplan Securities offers structured, adaptive learning programs with a focus on flexibility and self-paced study options. Knopman Marks provides intensive, high-cost programs with live classes and networking opportunities, making it a fit for those pursuing top-tier finance roles.

How do the securities license exam pass rates compare between STC, Kaplan Securities, and Knopman Marks?

While pass rates can be difficult to compare directly, STC has a long-standing and verifiable track record of success. A remarkable 95 percent of students who pass STC’s GreenLight final exams go on to pass their securities industry exam on the first try. Kaplan Securities does not publish official pass rate data but is known for strong self-study performance through its SmartPath system. Knopman Marks also reports high pass rates among its live instruction participants.

What if I need help with a difficult topic during my securities exam prep?

This is where STC truly excels. STC is the only provider that offers an instructor hotline, giving you direct access to subject matter experts via phone or email. This unparalleled level of support ensures you never stay stuck on a challenging concept, significantly increasing your chances of passing.

How do I choose the right securities exam prep provider for me?

Your choice should depend on your learning style, budget, and career goals. For most candidates seeking a reliable path to passing, STC offers the best balance of structure, flexibility, and expert support. It provides a guided program that is more specialized and supportive than Kaplan Securities and more accessible and cost-effective than Knopman Marks, making it the most effective choice for acing your securities industry exam.

Learn about the IAR CE Model Rule

On November 30, 2020, NASAA (North American Securities Administrators Association) adopted the Investment Advisor Representative (IAR) CE Model Rule.

The CE Model Rule impacts those in the financial industry, as a certain number of education credits are required annually. Read on for a general overview of the rule, who it affects, what happens if IARs cannot complete the credits, and more.

What Is the IAR CE?

Established by NASAA, IARs must earn 12 continuing education credits annually to maintain their registration.

Why Is IAR Continuing Education Important?

This IAR CE model rule was primarily established and implemented to help level the playing field in the financial industry. Previously, only non-IAR roles like insurance and broker-dealer agents, had a continuing education system. There was no way to ensure each IAR was up-to-date in their knowledge and skills.

This rule helps ensure IARs are well informed and can draw on their current knowledge of products and ethics-related topics to better advise clients.

Who Is Included in the IAR CE Model?

Every IAR registered in a state that has adopted the model rule is subject to CE requirements. The requirements apply to all state-registered and federally-covered IARs.

The rule only applies if the state where the IAR is registered has adopted it. If an IAR is registered in a state with the rule, they must complete the CE, even if they live in a state that has not adopted it.

Which States Does the Investment Advisor Rule Affect?

The following states and territories have put the IAR requirements into effect:

Arkansas (effective in 2023)
California (effective in 2024)
Colorado (effective in 2024)
Florida (effective in 2024)
Hawaii (effective in 2024)
Illinois: (effective in 2026)
Kentucky (effective in 2023)
Maryland (effective in 2022)
Michigan (effective in 2023)
Minnesota: (effective in 2025)
Mississippi (effective in 2022)
Nebraska: (effective in 2025)
Nevada (effective in 2024)
New Jersey (effective in 2025)
North Dakota (effective in 2024)
Oklahoma (effective in 2023)
Oregon (effective in 2023)
Rhode Island (effective in 2025)
South Carolina (effective in 2023)
Tennessee (effective in 2024)
Vermont (effective in 2022)
Washington, D.C. (effective in 2023)
Wisconsin (effective in 2023)
U.S. Virgin Islands (effective in 2025)

Investment Advisor CE Requirements

Each year, the expectation is that investment advisors will earn a total of 12 credits. Each credit translates to at least 50 minute of educational instruction. Each IAR can track and report CE progress and course submissions through FINRA’s Financial Professional Gateway (FinPro) system. Approved course providers report course completions directly to FINRA, NASAA’s vendor for program tracking.

The rule does not stipulate which courses are required, instead letting each IAR select courses that appeal to their interests from an approved IAR CE provider. That said, the course breakdown must be comprised of six credits of Ethics and Professional Responsibility and six credits of Products and Practice to fulfill requirements.

What If I Miss the IAR Deadline?

Twelve annual credits must be completed by December 31. Should an IAR miss the deadline, they may still renew their registration. However the label “Inactive CE” will appear on the Investment Adviser Public Disclosure (IAPD) and FINRA’s BrokerCheck website. IARs can become active again upon completing the missed credits from the prior year.

Where Can I Take IAR-Approved Courses?

To comply with regulations, an IAR must take courses from a provider approved by NASAA. These lessons are not limited to a specific state or area. Rather, they can be offered in any state in which the company and lessons are NASAA-approved.

Securities Training Corporation (STC) is proud to be an approved provider of IAR CE for state-registered and federally covered reps. If you’re an IAR registered within one of the states that have adopted the CE rule or soon will, contact us for more information.

Additionally, you can find information about online courses here. STC has a proven track record of more than 50 years of assisting professionals who want to take their careers to the next level. Whether you need educational materials or help with courses, STC is here to guide you in your professional journey.

Shop IAR CE Courses

IAR Continuing Education Model Rule FAQs

Q: What is the NASAA IAR CE Model Rule?
A: Adopted by NASAA on November 30, 2020, the Model Rule mandates that Investment Advisor Representatives (IARs) earn 12 continuing education credits annually. This premier requirement specifically levels the playing field across the financial industry. By establishing these standards, the rule guarantees that IARs maintain the highest level of current product and ethical knowledge, empowering them to deliver superior advice to their clients.

Q: Who must complete these IAR Continuing Education requirements?
A: The mandate strictly applies to all state-registered and federally-covered IARs registered in a jurisdiction that has adopted the Model Rule. Even if you reside in a state that has not adopted the rule, you must still complete the CE requirements if you are registered in a participating state. Currently, 24 states and territories have either implemented the rule or scheduled it to take effect soon.

Q: What are the specific annual credit requirements?
A: You must earn exactly 12 credits of IAR Continuing Education each year to maintain your registration. Each credit translates to a minimum of 50 minutes of educational instruction. To fully satisfy the mandate, you must complete the following breakdown:

6 credits in Ethics and Professional Responsibility
6 credits in Products and Practice

You have the flexibility to choose specific courses that match your interests, provided they come from an approved vendor. Course completions are then reported directly to FINRA, which tracks the program for NASAA.

Q: What happens if I miss the December 31 deadline?
A: Failing to complete your 12 annual credits by the strict December 31 deadline carries significant professional consequences. While you can still renew your registration, a damaging “Inactive CE” label will appear on your public profile on both the Investment Adviser Public Disclosure (IAPD) and FINRA’s BrokerCheck website. To remove this label and regain active status, you must immediately complete all missed credits from the prior year.

Q: Where can I find approved IAR CE courses?
A: You must complete your required lessons through a NASAA-approved provider. Securities Training Corporation (STC) stands as the industry’s leading approved provider for state-registered and federally covered representatives. Backed by over 55 years of proven educational excellence, we offer the most effective training solutions available. Contact us today or explore our comprehensive online courses to secure your compliance and take your career to the next level.