Examination
The examination consists of 130 questions and 10 pretest questions. Applicants are allowed 180 minutes to complete the exam. A score of at least 72% is required in order to pass. Prior to January 1, 2010, a score of 68.5% was required in order to pass.
The examination is conducted as a closed book test. Upon completion of the examination, the score for each section and the overall test score will immediately be made available to the candidate.
The investment advisor license is required from either the SEC or from the FINRA to offer investment advise for a fee. Even advisors with a financial designation such as CFP or CFA are still required to pass exams or obtain licenses from the state or SEC or from FINRA.
Read more about this topic: Uniform Investment Adviser Law Exam
Famous quotes containing the word examination:
“If we justify war, it is because all peoples always justify the traits of which they find themselves possessed, not because war will bear an objective examination of its merits.”
—Ruth Benedict (1887–1948)
“Maybe it’s understandable what a history of failures America’s foreign policy has been. We are, after all, a country full of people who came to America to get away from foreigners. Any prolonged examination of the U.S. government reveals foreign policy to be America’s miniature schnauzer—a noisy but small and useless part of the national household.”
—P.J. (Patrick Jake)
“A clergyman, again, can hardly ever allow himself to look facts fairly in the face. It is his profession to support one side; it is impossible, therefore, for him to make an unbiased examination of the other.”
—Samuel Butler (1835–1902)