This exam is required by certain states for an individual who wants to register as an investment adviser representative and securities agent.  Passing the Series 66 would be equivalent to passing both the Series 63 and Series 65 exams.  Additionally, individuals are required to pass the Series 7 exam as [...]

Series 63, Series 65 and Series 66 Changed as of January 1, 2010 In an earlier post, we discussed that the passing grades for the Series 65 and 66 have increased.  Below is further information from the Securities Training Corporation on the changes to the securities exams in 2010. **** [...]

IA Exams Pass Rates Expected to Plummet The North American Securities Administrators Association (“NASAA”) recently announced that the two central investment advisor exams (the Series 65 and the Series 66) will become even more difficult.  Starting January 1, 2010 candidates will need to attain a score of 72% in order [...]

I received a couple of comments regarding my posts on the Series 65 exam and the Series 66 exam which I would like to share with the community.  Both comments were made by Chuck Lowenstein, a Senior Editor – Securities at Kaplan Financial Education. Regarding the post Differences between the [...]

Hedge fund managers who must register as investment advisor representatives with the SEC (through notice filings) or the state securities commission will need to have the proper FINRA exam licenses.  Generally this means that the hedge fund manager will need to have passed the Series 65 exam within two years [...]

Question: What licenses do you need to start or manage a hedge fund? Answer: This is a question that comes up quite often. Many people wonder whether they need a series 7 license or the series 65 license or the series 3 to manage a hedge fund. First, a potential [...]