Series 65 Laws and Regulations Practice Questions
IV · Laws, regulations and guidelines, including prohibition on unethical business practices · 39 of 130 scored questions
Ten Series 65 questions on laws, regulations and ethics, untimed, with a worked answer after each one.
Or take the full Series 65 mock examUnder SEC Regulation S-P as amended in 2024, when sensitive customer information has been, or is reasonably likely to have been, accessed without authorization, an SEC-registered adviser must generally notify affected individuals
Laws, regulations and ethics on the Series 65
Section IV of the Series 65 (39 scored questions) covers federal and state securities law and NASAA’s rules on unethical business practices.
- Outline
- IV: The Uniform Securities Act, the Investment Advisers Act, registration, custody, contracts, Form ADV, Administrator powers and unethical practices
- Share of the exam
- IV Laws, regulations and guidelines, including prohibition on unethical business practices: 39 of 130 scored questions (30%)
- Our drill
- 10 questions from 50 on this topic, untimed, a worked answer after each; one free attempt, unlimited with a pass
What to know
- Under the Investment Advisers Act of 1940 and the Uniform Securities Act, an adviser is a fiduciary: it owes clients loyalty and care and must disclose material conflicts.
- Advisory contracts must be in writing (state-registered advisers), cannot be assigned without client consent, and cannot pay the adviser a share of capital gains except for qualified clients.
- Form ADV Part 2 (the brochure) is delivered before or at the time of entering into the contract and offered or delivered annually with material changes.
- A state-registered adviser with custody of client funds must meet a higher minimum net worth, keep the assets with a qualified custodian, make sure clients get account statements and arrange surprise examinations where the rule requires.
- NASAA lists dishonest or unethical practices for advisers: unsuitable recommendations, unauthorized trading, borrowing from clients, charging unreasonable fees, misrepresenting qualifications and failing to disclose conflicts.
Test yourself on laws, regulations and ethics
Ten Series 65 questions on laws, regulations and ethics, untimed, with a worked answer after each one.
Or take the full Series 65 mock examCommon questions
How many laws, regulations and ethics questions are on the Series 65?
Section IV is 39 of the 130 scored questions (30%).
Are these real Series 65 questions?
No. FINRA and NASAA do not release exam questions. These are original practice questions written to the official content outline, with a worked explanation and the rule behind every answer.
More Series 65 topics
Outline and exam facts checked November 2026: FINRA: Series 65 exam · NASAA Series 65 content outline · NASAA Series 65 study guide · NASAA: Exam FAQs.
Original independent practice questions written to the published NASAA content outline. Not affiliated with or endorsed by FINRA or NASAA.