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Exam Information
Official specifications published by FINRA
Exam Format
75 min
65
72
Entry-Level
Registration
$147 USD
Pearson VUE, Prometric, or online proctoring
Validity
Lifetime (but states may require continuing education)
SERIES-63 Exam Topics and Domains
SERIES-63 is organized into 8 weighted domains.
1
Regulation of Broker-Dealers
12%
Broker-Dealer Agent SupervisionSupervisory requirements
Definition of a Broker-Dealer
Activities requiring registration
- Identify when broker-dealer registration is required
- Understand exemptions from registration
- Know Form BD filing requirements
Registration/Post-Registration Requirements
Registration proceduresActivities requiring registration and exclusions
2
Regulation of Agents of Broker-Dealers
13%
Definition of an Agent of a Broker-DealerAgent definition and scope
Agent Account ManagementOutside accounts and activities
Registration/Post-Registration
Activities requiring registration and exclusionsUpdate uniform forms
3
Ethical Practices and Obligations
25%
Compensation
FeesCommissionsMarkupsDisclosure of compensation
Customer Funds and Securities
CustodyDiscretionTrading authorizationApplicable standard of care
Conflicts of Interest, Criminal Activities, and Other Ethics Issues
Excessive trading (Churning)Loans to and from customersSharing in profits and lossesInsider tradingSelling awayMarket manipulationOutside securities accountsExploitation of vulnerable adultsOther prohibited activities
4
Communication with Customers and Prospects
20%
Required Product DisclosuresMaterial facts disclosure
Unlawful Representations Concerning RegistrationMisrepresenting registration status
Performance Guarantees ProhibitionProhibited guarantees
Books and RecordsRecordkeeping requirements
PrivacyCustomer information protection
Customer Agreements
New account documentationMargin agreementsOptions agreements
Correspondence and Advertising
Social mediaEmail and digital messagingWebsite and internet communications
5
Regulations of Securities and Issuers
9%
Definition of Securities and IssuersSecurity definition
State Registration/Post-Registration RequirementsRegistration methods
State Enforcement and Antifraud AuthorityAntifraud provisions
Securities Offering ProcessTombstone advertisements
Exemptions from Registration
Exempt securitiesExempt transactions
6
Regulations of Investment Advisers
5%
Definitions of Investment AdvisersActivities requiring registration and exclusions
State vs Federal RegistrationAssets under management thresholds
Investment Adviser RequirementsBusiness practices
7
Regulations of Investment Adviser Representatives
5%
Definition of Investment Adviser RepresentativeActivities requiring registration and exclusions
Registration RequirementsState registration procedures
8
Remedies and Administrative Provisions
11%
Authority of State Securities AdministratorAdministrative powers
Administrative Actions
Registration actionsInvestigative powersCease and desist orders
Other Penalties and Liabilities
Civil liabilityCriminal penaltiesSIPC coverage
How do I earn this certification?
Passing SERIES-63 earns the State Law Qualified Agent certification. It sits in the Securities Registration track.
Next Level Options
- Series-24 - General Securities Principal Supervisory role for Series 7 representatives
- Series-26 - Investment Company Products/Variable Contracts Principal Supervisory role for Series 6 representatives
- Series-65 - Uniform Investment Adviser Law Examination Expand to investment advisory services
Alternative Paths
- Series-65 - Uniform Investment Adviser Law Examination For investment adviser representatives only
- Series-66 - Uniform Combined State Law Examination Combines Series 63 and 65 content
Practice with Precision
The PlanetCert Simulator mirrors the real exam environment with authentic questions and timed pressure.
How to study for this exam?
The most effective way to prepare for SERIES-63 is by using the PlanetCert Simulator to practice questions and review detailed explanations.
What's changed on this exam?
Current Status
- ACTIVE
- Last content update: 2023-06-01
Updates
- Electronic Communications More questions on digital recordkeeping and supervision
- Cybersecurity Privacy and data protection becoming more prominent
- Cryptocurrency/Digital Assets Limited current coverage but may increase
Who should take this exam?
- General understanding of securities industry
- Familiarity with state and federal securities laws
- Often taken in conjunction with Series 6 or Series 7