Free Series 66 Practice Exam
Practice Series 66 questions on state and federal securities law, ethics, client strategies and investment vehicles, then take a full mock in the real format: 110 questions in 150 minutes, scored on the 100 that count.
110 questions in 150 minutes, scored on the 100 that count, with a score by outline section and a worked answer for every question.
Or start with a free 10-question drill- 185 original Series 66 questions with worked answers
- 5 free drills: every outline section plus a mixed set
- 110 questions in the full mock, 150 minutes, as on exam day
A broker-dealer agent who is not registered as an investment adviser representative prints 'Financial Advisor' on her business cards. Under NASAA's broker-dealer statement of policy as amended in 2025, this is:
Series 66 exam format
The NASAA Series 66 Uniform Combined State Law Exam, run by NASAA and administered by FINRA.
- Questions
- 110 multiple-choice questions: 100 scored plus 10 unscored pretest questions
- Time limit
- 150 minutes at a Prometric test center
- Passing score
- 73 of the 100 scored questions (73%)
- Fee
- US$177
- Corequisite
- The SIE and Series 7. No prerequisite and no sponsor is needed to sit the exam
- Retakes
- Wait 30 days after a first or second failed attempt and 180 days after a third. For enrollments opened on or after January 4, 2027 the wait after a third failure is 60 days
- Sections
- Economics 8% (8) · Investment vehicles 17% (17) · Recommendations and strategies 30% (30) · Laws and ethics 45% (45)
- What it replaces
- With a valid SIE and Series 7, the Series 66 counts as both the Series 63 and the Series 65
What’s on the Series 66 exam
NASAA’s outline sections. Our full mock draws its 100 scored questions at the official counts and adds 10 unscored pretest questions, as on the real exam. Every topic has a study guide and a free ten-question drill with a worked answer after every question.
| Topic | What it covers | Guide and drill |
|---|---|---|
| I. Economic factors and business information8 scored questions (8%) | Business cycles, monetary and fiscal policy, financial statements, time value of money, statistics and risk types | 10-question drill |
| II. Investment vehicle characteristics17 scored questions (17%) | Cash equivalents, bonds, stocks, pooled investments, derivatives, alternatives and insurance products | 10-question drill |
| III. Client investment recommendations and strategies30 scored questions (30%) | Client profiles, portfolio theory, strategies, taxes, retirement plans, ERISA, estate planning and performance measures | 10-question drill |
| IV. Laws, regulations and ethics45 scored questions (45%) | The Uniform Securities Act, the Investment Advisers Act, registration, custody, contracts, Form ADV, Administrator powers and unethical practices | 10-question drill |
What the Series 66 tests
- Laws, regulations and ethics are 45 of the 100 scored questions: the Uniform Securities Act for broker-dealers, agents, advisers and IARs, the Investment Advisers Act, and NASAA’s unethical practices.
- Client recommendations and strategies are 30 questions: profiles, portfolio theory, taxes, retirement plans, ERISA, trading and performance measures.
- Economics and investment vehicles are only 25 questions together, because the SIE and Series 7 already cover products in depth.
Take a full Series 66 mock under the real clock
110 questions in 150 minutes, scored on the 100 that count, with a score by outline section and a worked answer for every question.
Or start with a free 10-question drillHow to take the Series 66
- The Series 66 is for candidates who want to be both a broker-dealer agent and an investment adviser representative. Pass the SIE and Series 7 as well.
- Your firm enrolls you, or you open your own window through FINRA and pay the US$177 fee.
- Sit the 110-question exam in 150 minutes.
- CRD records a Series 63 credit when you register as an agent and a Series 65 credit when you register as an IAR; each keeps its own validity.
The securities licensing path
Most representatives pass the SIE, then the Series 7 with a sponsoring firm, then the state exam their role needs: the Series 63 to sell as an agent, the Series 65 to give advice as an investment adviser representative, or the Series 66 in place of both alongside the Series 7.
Start
SIE practice examFINRA · 75 scored questions · no sponsor
Then
Series 7 practice examFINRA · 125 scored questions
State exam
Series 63 practice examNASAA · 60 scored questions
State exam
Series 65 practice examNASAA · 130 scored questions
State exam
Series 66 practice exam
NASAA · 100 scored questions
Common questions
How many questions are on the Series 66?
110 multiple-choice questions: 100 count and 10 are unscored pretest questions. You have 150 minutes.
What score do you need to pass the Series 66?
At least 73 of the 100 scored questions (73%).
Do I need the Series 7 for the Series 66?
The Series 7 (with the SIE) is a corequisite: you can sit the Series 66 first, but you need a valid SIE and Series 7 to register using it.
Is the Series 66 harder than the Series 65?
It is shorter (100 scored questions against 130) and leans harder on law: 45% of the Series 66 is laws and ethics against 30% of the Series 65. It skips product detail the Series 7 already tests.
How long do I wait to retake the Series 66?
30 days after a first or second failed attempt and 180 days after a third. For enrollments opened on or after January 4, 2027, the wait after a third failure is 60 days.
Does the Series 66 replace the 63 and 65?
Yes, when combined with a valid SIE and Series 7. FINRA’s CRD grants a Series 63 credit for agent registration and a Series 65 credit for IAR registration.
Are these real Series 66 questions?
No. NASAA does not release exam questions. These are original practice questions written to NASAA’s published outline, with an explanation and the rule behind every answer.
Ready for exam day?
110 questions in 150 minutes, scored on the 100 that count, with a score by outline section and a worked answer for every question.
Or start with a free 10-question drillNext: the Series 65
One securities licensing pass covers every full mock exam and unlimited drills for the Series 7, 63, 65 and 66. The SIE has its own page.
Exam format, fees, passing scores and retake rules checked November 2026: FINRA: Series 66 exam · NASAA Series 66 content outline · NASAA Series 66 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.