The Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by North American Securities Administrators Association (NASAA) and is administered by the Financial Industry Regulatory Authority (FINRA). The examination is designed to qualify candidates as securities agents within a state; nearly all states require individuals to pass the Series 63 as a condition of state registration.
The Uniform Securities Agent State Law Examination consists of 65 multiple-choice questions. Applicants are allowed 75 minutes to complete the examination. Applicants must attain scores of 72% in order to pass. Credit is only given for correct answers. Of the 65 questions on the exam, 60 will count toward the final score. The remaining 5 questions are being pre-tested for possible inclusion in the operational question bank; these questions may appear anywhere in the exam and are not identified.
The examination covers the principles of state securities regulation reflected in the Uniform Securities Act (with the amendments adopted by NASAA and rules prohibiting dishonest and unethical business practices). The examination is intended to provide a basis for state securities administrators to determine an applicant's knowledge and understanding of state law and regulations.
| Test Breakdown | # of Questions | % of Exam |
|---|---|---|
| Registration of Persons | 24 | 40% |
| Securities | 6 | 10% |
| Business Practice | 24 | 40% |
| Administrative Provisions & Other Remedies | 6 | 10% |
Famous quotes containing the words uniform, agent, state, law and/or exam:
“He may be a very nice man. But I haven’t got the time to figure that out. All I know is, he’s got a uniform and a gun and I have to relate to him that way. That’s the only way to relate to him because one of us may have to die.”
—James Baldwin (1924–1987)
“I wish not to be given a title or an appointed position. I can and will do more good if I were made a Federal Agent at Large, and I will help best by doing it my way through my communications with people of all ages. First and Foremost I am an entertainer but all I need is the Federal Credentials.”
—Elvis Presley (1935–1977)
“Scepticism is an ability, or mental attitude, which opposes appearances to judgments in any way whatsoever, with the result that, owing to the equipollence of the objects and reasons thus opposed we are brought firstly to a state of mental suspense and next to a state of “unperturbedness” or quietude.”
—Sextus Empiricus (2nd or 3rd cen., A.d.)
“The only law was that enforced by the Creek Lighthorsemen and the U.S. deputy marshals who paid rare and brief visits; or the “two volumes of common law” that every man carried strapped to his thighs.”
—State of Oklahoma, U.S. relief program (1935-1943)
“I know that if I’d had to go and take an exam for acting, I wouldn’t have got anywhere. You don’t take exams for acting, you take your courage.”
—Dame Edith Evans (1888–1976)