Passing Score for Series 63 Exam
The Series 63 exam, also known as the Uniform Securities Agent State Law Exam, is administered by the Financial Industry Regulatory Authority (FINRA) to qualify candidates as securities agents. The exam covers the principles of state securities regulation reflected in the Uniform Securities Act, as well as rules prohibiting dishonest and unethical business practices (FINRA, n.d.).
Exam Format and Scoring
The Series 63 exam consists of 65 multiple-choice questions, with 60 questions counting toward the final score. The remaining 5 questions are pre-tested and may appear anywhere in the exam, but they are not identified (FINRA, n.d.). Candidates are allowed 75 minutes to complete the examination. The exam is conducted as a closed book test, but scratch paper can be provided if desired (FINRA, n.d.).
Passing Score
The passing score for the Series 63 exam has remained the same, with candidates needing to answer at least 43 out of 60 questions correctly (NASAA, 2023).
Exam Administration
The Series 63 exam is administered by FINRA. To schedule a candidate for the examination, a firm should file an electronic Form U4 or an individual not employed by/or associated with a FINRA member firm should open an enrollment window via FINRA.org and pay the $147 examination fee to FINRA (NASAA, n.d.).
Conclusion
The Series 63 exam is an important step for individuals seeking to become securities agents. By understanding the exam format, scoring, and passing score, candidates can prepare effectively and increase their chances of success.
References
FINRA. (n.d.). Series 63 – Uniform Securities Agent State Law Exam. Retrieved from https://www.finra.org/registration-exams-ce/qualification-exams/series63
Key Facts
- The Series 63 exam, also known as the Uniform Securities Agent State Law Exam, is designed to qualify candidates as securities agents.
- The exam covers the principles of state securities regulation reflected in the Uniform Securities Act, as well as rules prohibiting dishonest and unethical business practices.
- The exam consists of 65 multiple-choice questions, with 60 questions counting toward the final score.
- The remaining 5 questions are pre-tested and may appear anywhere in the exam, but they are not identified.
- Candidates are allowed 75 minutes to complete the examination.
- The exam is conducted as a closed book test, but scratch paper can be provided if desired.
- The passing score for the Series 63 exam has remained the same, with candidates needing to answer at least 43 out of 60 questions correctly.
- The exam is administered by the Financial Industry Regulatory Authority (FINRA).
NASAA. (2023, March 8). NASAA Announces Passing Scores Associated with New Exam Test Specifications. Retrieved from https://www.nasaa.org/67574/nasaa-announces-passing-scores-associated-with-new-exam-test-specifications/
NASAA. (n.d.). Series 63 Exam Content Outline. Retrieved from https://www.nasaa.org/exams/general-exam-information/series-63-exam-content-outline/
FAQs
What is the passing score for the Series 63 exam?
Candidates must answer at least 43 out of 60 questions correctly to pass the Series 63 exam.
How many questions are on the Series 63 exam?
There are 65 multiple-choice questions on the Series 63 exam, with 60 questions counting toward the final score.
How long is the Series 63 exam?
Candidates are given 75 minutes to complete the Series 63 exam.
Is the Series 63 exam open book?
No, the Series 63 exam is a closed book exam.
What topics are covered on the Series 63 exam?
The Series 63 exam covers the principles of state securities regulation reflected in the Uniform Securities Act, as well as rules prohibiting dishonest and unethical business practices.
Who administers the Series 63 exam?
The Series 63 exam is administered by the Financial Industry Regulatory Authority (FINRA).
How can I prepare for the Series 63 exam?
There are a variety of study materials available, including textbooks, online courses, and practice exams. Candidates should also familiarize themselves with the exam content outline.
What happens if I fail the Series 63 exam?
Candidates who fail the Series 63 exam must wait a certain period of time before retaking the exam. The waiting period varies depending on the number of times the candidate has failed the exam.