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Your Guide to the Series 65 Exam: All You Need to Know

The Series 65 exam is part of becoming an RIA

So, you’re interested in becoming a registered investment advisor (RIA)? Well, you’ve come to the right place. The Series 65 exam is an essential part of the RIA registration process but can also be daunting. That’s why I’m here to give you an overview of what you need to know about the Series 65 exam.

In this article, we will break down exactly what it is, how to prepare for it, and more. If you’re serious about becoming an RIA, this comprehensive guide will set you up for success and get you one step closer to your dreams of helping others make wise investments.

What Is the Series 65 Exam?

If you’re looking to enter the field of investment advising, the Series 65 exam is likely part of your journey. This exam requires obtaining an Investment Adviser Representative (IAR) license.

So, what exactly does this exam involve? Series 65 is a comprehensive multiple-choice test composed of 130 questions. It evaluates knowledge that prospective IARs need to competently render investment advice and abide by securities laws and regulations.

Specifically, topics include financial planning, portfolio management strategies, laws and regulations, ethical standards, and economics. And to pass the test—which has a time limit of three and a half hours—you must answer at least 92 of the questions correctly.

It’s also important to note that you can use reference materials while taking the test. It’s highly encouraged! This way, you can ensure your answers are accurate before moving on.

How to Prepare for the Series 65 Exam

Passing the Series 65 exam is no easy task—it’s a rigorous, multiple-choice test that covers a range of topics and requires a certain level of knowledge and expertise. But with the right preparation, acing the test is achievable.

To get ready for the exam, start by understanding what topics will be covered. The Series 65 exam covers topics on Investment Adviser Law, such as fiduciary standards of conduct, financial planning concepts, and taxation issues.

Then, you will need to review key concepts related to these topics. Brush up on topics like ethics, portfolio management theory, and types of investments.

From there, familiarizing yourself with the structure of the exam is a must. It includes 110 multiple-choice questions (with 105 scored questions and five unscored pre-test questions). The exam also has a 3-hour time limit, so practice answering sample questions in this time frame to prepare for the day-of pressure.

Finally, take advantage of study materials available online or from your state regulatory agency that could help you gain an advantage when it comes to passing the exam. With dedication and preparation, you can pass this difficult test!

registered investment advisers need to pass a test

Key Areas Covered by the Series 65 Exam

The Series 65 exam measures your ability to provide investment advice as a registered investment advisor. To help you get started, here’s an overview of the topics covered in the exam.

General Knowledge

The general knowledge section of the exam covers laws, regulations, and unethical practices related to professional ethics for investment advisors. You’ll be expected to understand the different types of investments and their underlying characteristics, as well as securities markets, portfolio management concepts, and economic indicators.

Federal Securities Laws and Regulations

The federal securities laws and regulations portion of the exam tests your understanding of federal regulations, including those governing registration requirements, fiduciary duties, adviser fee structures, custody of client funds or securities, advertising rules, recordkeeping requirements, and more.

Strategies for Investment Advisors

Finally, the strategies for investment advisors section will test your knowledge of different types of investments and their potential return-related risks. You’ll also be assessed on topics such as portfolio diversification strategies and trading principles used by professionals to generate investor returns.

Tips for Success in Taking the Series 65 Exam

When taking the Series 65 Exam, the key is to be prepared. Here are some tips to help you succeed.

Know the Material

You should thoroughly know what’s included in the exam to answer questions accurately and quickly. Make sure to spend plenty of time studying and reviewing all relevant materials before taking the exam.

Utilize Practice Exams

Taking practice exams can make you comfortable with the format and better understand where your strengths and weaknesses may lie. This can also help boost your confidence and reduce stress on exam day.

Get Plenty of Rest

Make sure you sleep enough before taking the exam, as this will help you stay alert throughout the test-taking process. Additionally, taking breaks throughout your study sessions is important to stay focused on the task at hand and avoid burnout.

Manage Your Time

You’ll have three hours to complete all 125 questions, so it’s important that you manage your time wisely by focusing on answering each question accurately rather than rushing through them.

Focus on Understanding Concepts

While memorizing facts is important, understanding concepts is even more crucial when passing the Series 65 Exam with flying colors!

Approved Providers and Resources for Taking the Series 65 Exam

Wondering where you can take the Series 65 exam? You’ll find approved providers for taking the Series 65 exam across the US, Canada, and overseas.

At these approved providers, you can sit for the Series 65 exam as either a paper-and-pencil or computerized test. And there are even more resources that can help you pass the test, like review courses and study materials.

Before you take your Series 65 exam, make sure that you:

  • Register with an approved provider to take the exam.
  • Gather the required documentation on test day.
  • Prepare yourself with a comprehensive study plan.
  • Utilize resources like practice tests and unofficial score reports tracking your progress.
  • Take full advantage of any preparation courses offered by your chosen testing site.
  • Review any feedback or tips provided by other people who have taken the exam successfully.
  • Relax and do your best on exam day!

Following these steps can help ensure that you are well-prepared for your Series 65 examination and will give you a better chance of passing it with flying colors!

Contact My Ria Lawyer

Ready to jump into the Series 65 Exam? Before you get too far into it, you’ll want to ensure you have an experienced attorney. This is where My Ria Lawyer comes in.

Our attorneys specialize in guiding people like you through the Series 65 Exam process and can provide invaluable assistance. Our team will help ensure that you don’t accidentally leave out any important details while completing the exam—something that could cost you valuable time and resources down the road.

We understand that everyone’s situation is unique, so our attorneys will provide personalized advice for each client. With their expertise in securities law and licensing regulations, My Ria Lawyer’s attorneys are uniquely qualified to guide you through this process—no matter your particular goals.

We’re here to help! We have a friendly support staff waiting to answer your questions—so don’t hesitate to call us, anytime!

Author Bio

Leila Shaver is the Founder of My RIA Lawyer, a law firm that provides compliance and legal consulting for financial institutions. With extensive experience as a securities attorney and compliance expert, she has served as Chief Compliance Officer and General Counsel to RIAs, BDs, and TAMPs with billions in assets under management.

Leila understands the challenges RIAs face and is committed to helping RIAs streamline their processes, mitigate risks, and ensure compliance with regulatory requirements. She received her Juris Doctor from Atlanta’s John Marshall Law School and is a West Georgia Young Lawyers’ Association member. Leila has received numerous accolades for her work, including the Carroll County Bar Association’s Outstanding Young Lawyer Award in 2017.

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