NASAA · License Prep

Series 65

Uniform Investment Adviser Law

Required to act as an Investment Adviser Representative in most states. Heavy on economics, portfolio theory, ethics, and fiduciary duty.

Questions

130

Time limit

180 min

Pass score

72%

State fee

$187

Topics covered

Economic factors & business information
Macro indicators, business cycle, financial statements, ratio analysis.
Investment vehicle characteristics
Equity, debt, pooled products, derivatives, alternatives, insurance.
Client / customer recommendations & strategies
Type of client, investment objectives, portfolio construction, taxation.
Laws, regulations, ethics
USA, IA Act of 1940, fiduciary duty, disclosure.

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Practice exams are study aids only — they are not regulatory credit. FINRA CE Sponsor and NASBA accreditation pending.