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Series 65
		SERIES 65 STUDY MANUAL 405 page exam specific study manual with 725 practice questions and explanations!  This is a hard copy Study Manual product and will ship UPS.  Click here to view a sample section	$69.00
		SERIES 65 EXAM SIMULATION CD-ROM 400 exam specific questions with explanations simulating your NASAA Exam! This disk is NOT Mac compatible! Click here to view a demo	$25.00
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SERIES 65 EXAM INFORMATION

NASAA Series 65 Exam Overview

Series 65 Exam Summary

The Series 65 exam underwent a dramatic change that became effective in 2000. It had long been a 75-question exam that focused primarily on state securities laws (the Uniform Securities Act) and ethics, but became a 130-question "competency exam" with a time limit of 180 minutes. Like the Series 66 exam, the Series 65 exam has experimental questions that will be included in every test - there are 10. To pass the exam, the candidate must answer 89 of the 130 questions correctly (68.5%). In addition to questions about the USA and ethics, the Series 65 exam includes questions on the subjects of economics, investment vehicles, investment strategies, analysis and ethics.

Currently, the majority of those who take the Series 65 exam are either securities professionals who have not passed the Series 7 General Securities Representative Exam, or those persons in related fields within the financial services industry - such as accountants - who wish to be in the business of providing investment advice for fees. This includes, of course, those who work for investment advisory firms and wish to become investment advisory representatives (IARs).

Series 65 Exam Specifics

Number of questions: 130
Passing score required: 68.5%
Time limit: 180 minutes
Exam administration: The Series 65 Exam is multiple choice and is given on computer
Pre-requisites: You do not have to be employed or sponsored by a broker/dealer to take the Series 65 exam. You can register as an individual by filing a U-10.
Exam locations: You can register to take the exam with either Prometric (www.prometric.com) or Pearson VUE (www.pearsonvue.com)
Exam dates: The Series 65 exam is administered Monday through Friday
Exam fee: $120.

Common questions asked by Series 65 Exam candidates:

What is the degree of difficulty of the Series 65 exam?

The Series 65 exam is one of the most difficult exams administered by FINRA (previously known as NASD). The main reason this is the case is most individuals taking the Series 65 exam hold no other securities license. There is a lot of content on the Series 65 exam that is also found on both the Series 6 and Series 7 exams. For this reason this causes a huge disadvantage to individuals taking the Series 65 exam that have no securities background.

If I do not pass the Series 65 Exam on my first attempt is there any waiting period before I retest?

The following waiting periods apply for individuals needing to retake the Series 65 exam following a failed attempt: (1) a minimum of 30 days after failing the first exam before the second taking of the exam can be scheduled; (2) a minimum of 30 days after failing the exam for the second time before the third taking of the exam can be scheduled; and (3) a minimum of 180 days after failing the exam for a third time before the fourth taking of the exam (and each subsequent taking) can be schedule. These waiting periods mirror those in place for FINRA-sponsored examinations.

What do Series 65 Exam questions look like?

Here are two Series 65 exam questions that come from our materials that are very similar to the formatting and content of the questions on the real exam:

1. Which of the following option positions are considered to be “bullish”:
   
   
   1. Long call
   2. Short call
   3. Long put
   4. Short put
   
   
   1. I only
   2. III only
   3. II and III
   4. I and IV
   
   
2. To find the ‘future value’ of an investment, you would need all of the following EXCEPT:
   
   
   1. Rate of return
   2. Present value
   3. Time period
   4. Prime rate

Answers and explanations to the above questions as found in our comprehensive Series 65 exam prep online and print materials as follows:

1.    D    Remember, a “short” position is one the investor sold or borrowed. A “long” position is one the investor owns or is buying. Buying a call is considered “bullish”, in that an investor will make money if the underlying stock goes up. Selling a put is also “bullish”, in that the investor will make money (the premium) if the stock goes up, since the buyer of the put will allow it to expire unexercised.
2.    D    The future value indicates the amount that an investment made today at a given rate will be worth at some period in the future based upon a compound rate of return, which assumes that interest earned in a given period is reinvested at the identical rate over a given period of time. The prime rate is the interest rate that banks charge their best commercial customers.

FREE SERIES 65 EXAM TEST PASSING TIPS/TRICKS

The Series 65 testing tips below have been compiled by our FINRA/NASD Series 65 instructors which have over 35 years of Series 65 exam training experience and are provided for FREE to anyone taking the Series 65 exam as a thank you for visiting our site. Please make sure to tell anyone you know about our site so they too can view these Series 65 exam study tips prior to taking their Series 65 test.

How to prepare for the Series 65 Exam:

Your preparation for the Series 65 exam is crucial. You cannot simply attend a lecture class or read a book and pass the Series 65 test. You MUST understand the concepts the Series 65 exam is based upon.

How you know who has the best Series 65 exam prep course:

The best way to find out who has the most exam specific Series 65 study course is to check the provider’s student feedback. You can view ours by clicking our testimonials link at the top of the page. If a company does NOT have testimonials from students who have taken the Series 65 test recently and passed, how can you be certain you will? We have trained thousands of individuals to pass the Series 65 test since it was created. Our online Series 65 exam course has everything that you need to pass your exam on your first attempt including over 11 hours of Series 65 exam specific video lecture.

How to know you are ready for the Series 65 exam:

You should be able to pass all the exams included in your Series 65 study materials until you can score a minimum of 90% or better, understanding why the correct answer is correct, and the incorrect answers are incorrect.

Click here to print 25 of the best Series 65 practice exam questions that we have to offer for FREE

The questions above are included in our full Series 65 online course. Our full online video Series 65 study course actually includes over 1,000 practice exam questions with answers and explanations!

DO NOT memorize the questions included in your Series 65 study materials!

Why? The questions on the real exam will be different. It doesn’t matter whose materials you are using to study for the Series 65 test. The company that creates the questions on the real Series 65 exam has thousands of questions in their database that they pull from to create your Series 65 test for you on the spot. Memorizing the Series 65 questions in your Series 65 exam study material is a sure fire way to fail the exam.

What to do the night before your Series 65 test:

DO NOT stay up all night cramming. This may have worked in college but it will not work now. Why? Let’s face it. Most of us taking this exam are NOT fresh out of college. When was the last time you stayed up until 4 in the morning? Shocking your body is not a smart thing to do the night before what could be the biggest test of your life. You must be rested the day of your Series 65 exam. Get a good nights sleep and make sure to eat a good breakfast the morning of your test.

What to do on the day of your Series 65 exam:

Get to the test center early. There is nothing worse than encountering a traffic jam on the way to your test and getting stressed out about making it on time. You will have to arrive early as you will want to sit in your car at the test center and read the Key Facts that were provided in our online video course three times prior to going in to take the test. This is one of the most important steps in preparing to obtain your Series 65 license. Why? It is imperative that you load your memory of the concepts you will be asked about on the Series 65 test just prior to taking it. This way, all of the most important information is fresh in your mind when you go into the exam. Our Series 65 online course includes hundreds of Key Facts that are very Series 65 exam specific.

Click here to print FREE Series 65 Exam Key Facts to take with you to your test

The Key Facts above come from our online course. Of course, if you would like the full copy you can register for our Series 65 Online Video course to access them.

How you should take the Series 65 exam:

The most important tip we can give you is to READ THE QUESTION! This most likely sounds pretty stupid. However, I would imagine as you have studied for the Series 65 test you have missed many questions simply because you did not read them correctly. Read the question twice before even looking at the answers, then read every answer before picking which one you think is correct. Answer A may look good, but answer D may be better.

NEVER pick an answer you have not heard of. They will make words up on the Series 65 exam that do not even exist. If it has not been covered in our Series 65 online video exam prep course, it is not a correct answer on the exam.

Only mark those questions for review you really don’t know the answer to, or you have narrowed it down to two possible correct answers. DO NOT review the full exam once you have completed it. In our experience if you review the full exam you may get confused and start changing answers. Your first selection is your best. Only review those questions you have marked for review.

Here are the SECRETS to passing the Series 65 exam:

The following Series 65 secrets will teach you how to attack the most difficult Series 65 exam question formats. The two following sample Series 65 exam question formats are presented directly from our Series 65 exam online video course:

Question format #1 – The double negative EXCEPT question

Under the Uniform Securities Act, the registration requirements for agents may include all of the following, EXCEPT:

1. A Consent to Service of Process
2. Minimum net capital
3. An examination
4. Surety bonding

How to attack this question: These EXCEPT questions are very difficult for your brain to interpret. Here is why. You have never encountered exam questions in your entire testing lifetime that were worded this way. For example, if the above question was on a test you took back in school it would be worded the following way:

Under the Uniform Securities Act, registration requirements for agents do NOT require:

However, on the Series 65 exam most of the questions are not straight forward and are written in a format that is very confusing. The most important word in the question above is EXCEPT. When you see the word EXCEPT it means the correct answer to the question is actually the opposite of what the question is stating.

Remember that you must READ THE QUESTION at least twice to determine what the question is asking prior to looking at the answers. So, which of those answers listed is NOT a requirement for registration as an agent under state law (Uniform Securities Act)? The correct answer is B since minimum net capital may be required of broker/dealers and investment advisers, but not agents.

These questions are great because they give you three true statements that may help you answer another question within the Series 65 exam (answers A, C and D).

Question Format #2 – The dreaded roman numeral question

With regard to the Investment Advisers Act of 1940, which of the following persons does not have to register as an investment adviser?

1. A Broker/dealer who gives advice and charges a specific fee for that advice
2. Agent of a broker/dealer who gives investment advice within the course of his or her duties and charges a fee for that advice
3. Broker/dealer who gives investment advice that is incidental to the course of his or her business
4. Attorney who writes a legal opinion of counsel for a municipal bond

1. I, II and IV
2. III only
3. III and IV
4. All of the above

How to attack this question: When you encounter this question write down the roman numerals and answers on your scratch paper then read through the first roman numeral response and determine if it will be in the correct answer or not.

On your scratch paper after you read through response I above you would write no since response I will not be in the answer (A B/D that charges a separate fee for giving investment would have to register as an IA). Then you can look at the answers. LOOK AT THE ANSWERS ABOVE. Since answer A and D both have roman numeral I in it you already know they are not the correct answers. You can now eliminate answers A and D as the correct answer. You have now significantly increased your chances of getting the answer correct. You can now move on to roman numeral IV since the only answers left (B and C) both include roman numeral III. Is roman numeral IV going to be in the correct answer? Yes (attorneys whose performance of services is solely incidental to the practice of their profession are exempt from the definition of investment adviser). Knowing this rules out answer B since you now know III & IV are both going to be in the correct answer and answer B only lists III. There you have it! THE CORRECT ANSWER HAS TO BE C!!

Once you have mastered the Series 65 exam question techniques outlined above you will significantly increase your chances of passing the exam the first time and obtaining your Series 65 license.

They will provide you everything you need at the test center.

They will provide you a calculator, scratch paper and pencil. You do not need to bring any of theses items with you. You cannot take a programmable calculator into the Series 65 test.

Why are we providing you this information for FREE? We want you to pass your Series 65 exam on your first attempt. In fact, we will do whatever we can to assist you in passing your exam short of taking it for you! There should be absolutely no reason for you to fail the Series 65 test. We are confident if you employ the information provided above you will find success on your Series 65 exam and obtain your Series 65 license. You may know others within your organization that will be taking the Series 65 exam as well. Please share our site them. Thank you for visiting our site and good luck with your exam!!