The Series 65 exam is a securities licensing exam that qualifies professionals to work as an Investment Adviser Representative (IAR) in many states by covering investment principles, ethics, and state securities laws. If you’re looking to become a licensed investment adviser representative (IAR), earning your Series 65 license is an essential step.
This exam, formally known as the Uniform Investment Adviser Law Exam, is required by most states to legally offer financial advice for a fee. Whether you’re starting your career or expanding your qualifications, understanding what the Series 65 covers and how to prepare is key to your success.
What is the Series 65 License?
The Series 65 license qualifies individuals to provide investment advice and portfolio management services without selling securities. It’s ideal for those who want to work at or open a Registered Investment Advisory (RIA) firm. The exam is administered by FINRA on behalf of NASAA, and it’s designed to assess your knowledge of investment strategies, ethics, laws, and client recommendations.
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You’ll need the Series 65 if you plan to:–
- Charge clients for financial advice
- Work as an investment adviser representative (IAR)
- Start or join an RIA firm
Some professionals are exempt if they already hold both a Series 7 and Series 66 license, but for most people, the Series 65 exam is the fastest route to becoming licensed.
What’s on the Series 65 Exam?
The Series 65 Exam evaluates your understanding of investment advisory responsibilities, including regulatory standards and the foundational concepts used to build and support client strategies. It’s structured to reflect the type of knowledge you’ll apply on the job.
Series 65 Exam format, time limit and passing score
- 130 questions
- 3 hour time limit
- 72% passing / 94 correct questions
The questions are split into four key categories:–
- Laws, Regulations, and Guidelines (30%)
- Covers fiduciary responsibility, unethical practices, and communication rules.
- Client Investment Recommendations and Strategies (30%)
- Focuses on retirement planning, tax considerations, and asset allocation.
- Investment Vehicle Characteristics (25%)
- Examines how investment products work and their risks/benefits.
- Economic Factors and Business Information (15%)
- Includes economic indicators, business cycles, and monetary policy.
How long should I study for the Series 65 Exam?
One of the most common questions we hear is: “How many hours to study for the Series 65?”
- Most successful candidates report needing 80 to 90 hours of study time.
- If you’re unfamiliar with financial regulations or concepts, you may need closer to 100 hours.
- Your Series 65 study time can be spread across several weeks depending on your schedule and learning style.
How to study for the Series 65 Exam
If you’re wondering how to study for the Series 65 more efficiently, prioritize understanding concepts over memorization. Flashcards, video lectures, and topic summaries are great tools to speed up your learning.
Here are some proven Series 65 exam tips to guide your prep:–
- Follow a study plan: Break down the topics and schedule daily study blocks.
- Use a high-quality prep course: Choose one with lectures, quizzes, and practice tests.
- Practice often: Take at least 3–5 Series 65 exam practice tests to simulate test conditions.
- Review your weak areas: Focus more time on topics you score lowest on.
- Join a study group or partner up: Studying with others helps reinforce your knowledge.
Application and exam details
To sit for the exam, you’ll need to submit:–
- Form U10 if you’re not affiliated with a firm
- Form U4 if you are affiliated
The Series 65 exam fee is $175, and you’ll take the exam at a Prometric testing center. Basic calculators and dry-erase boards are provided.
What does the Series 65 License allow you to do?
Passing the Series 65 license exam opens doors in the financial industry. It qualifies you to:–
- Provide investment advice legally
- Work for or launch a Registered Investment Adviser (RIA)
- Grow your credibility and client base as a trusted advisor
For many professionals, earning the Series 65 license is a career game-changer.
Get started with Series 65 Exam prep and STC
With STC’s proven exam prep materials, including online courses, flashcards, and full-length practice exams, you’ll be fully equipped to pass the Series 65 the first time.–
✅ Practice smarter
✅ Learn faster
✅ Pass with confidence
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Ready to earn your Series 65 license? Enroll now and take the next step in your financial career.
Click Here → Start Your Series 65 Prep Now
Boost Your Score with STC’s Series 65 Supplemental Exams
One of the best ways to prepare for the Series 65 exam is through consistent, high-quality practice, and that’s where STC’s Series 65 exam supplemental exams come in.
Start Practicing Now → View Exams
🎯 Tip: We recommend taking at least 3 full-length practice exams before your test day to maximize your readiness.
