Updates as of September 22, 2026
FINRA's Series 66 page lists the exam at a fee of USD 177, with 110 multiple-choice questions of which 100 are scored and 10 are unscored pretest items, 150 minutes of testing time, and a pass mark of at least 73 correct out of the 100 scored questions. The exam is written by NASAA and delivered through FINRA.
FINRANASAA states plainly that there is no prerequisite to sit the Series 66, but that the FINRA Series 7 is a corequisite which must be successfully completed in addition to the Series 66 before a candidate can apply to register with a state. Passing Series 66 on its own therefore produces no state registration.
NASAAThe Series 66 test specifications currently in force took effect on 12 June 2023, according to NASAA's content outline page. The examination is closed book, and NASAA confirms that candidates are notified of their result immediately on completing the session at the test centre.
NASAA content outlineFINRA's scheduling page confirms that once a candidate is enrolled, a 120-day window is posted within which the exam must be taken, and that the window opens the day after enrolment. Prometric is the named delivery vendor. Online proctored delivery is offered to all candidates for the SIE, but for other exams only under an approved testing accommodation.
FINRA schedulingThe two exams the Series 66 replaces are separately priced by NASAA: the Series 63 at USD 147 for 65 questions in 75 minutes, and the Series 65 at USD 187 for 130 scored questions plus 10 pretest items in 180 minutes. Taking both costs more and takes longer than the single Series 66 sitting.
NASAA Series 65 outlineSeries 66 against the exams it combines and the SIE
| Exam | Questions and time | Pass mark | Fee |
|---|---|---|---|
| SIE | 75 questions, 1 hour 45 minutes | 70 on a 0-100 scale | USD 100 |
| Series 63 | 60 scored plus 5 pretest, 75 minutes | 43 of 60 scored | USD 147 |
| Series 65 | 130 scored plus 10 pretest, 180 minutes | 92 correct | USD 187 |
| Series 66 | 100 scored plus 10 pretest, 150 minutes | 73 of 100 scored | USD 177 |
The Series 66 is a single sitting that covers the state law ground of the Series 63 and Series 65 together. NASAA writes all three; FINRA administers them and collects the fee. The SIE row is included because it sits underneath the whole chain rather than being an alternative to it.
Source: FINRA Series 66 · NASAA Series 63 · NASAA Series 65 · FINRA SIE
Dates and windows
| What | When | Status |
|---|---|---|
| Enrolment and booking for the Series 66 | Rolling - book on demand, no fixed exam cycle | Rolling |
| Scheduling window after enrolment | 120 days, opening the day after enrolment | Confirmed |
| Delivery route | Prometric test centres, year round | Rolling |
| Online proctored delivery for Series 66 | Only where a testing accommodation has been approved | Confirmed |
| Test specifications currently in force | Effective 12 June 2023 | Confirmed |
| Result notification | Immediately on completing the session | Confirmed |
| Series 7 corequisite | Must be passed before applying to register with a state | Confirmed |
There is no Series 66 examination calendar to track. The only dates that matter to an individual candidate are the ones created by their own enrolment: the 120-day window it opens, and the appointment they book inside it.
Source: FINRA scheduling · NASAA Series 66
What this means for your preparation
The single thing candidates most often get wrong is treating the Series 66 as a standalone licence. It is not. NASAA's own page states that the Series 7 is a corequisite that must be completed in addition to the Series 66 before a state registration application can be made. A pass on the Series 66 with no Series 7 behind it leaves a candidate registered nowhere.
Corequisite, not prerequisite: what that means
FINRA and NASAA both say there is no prerequisite for the Series 66, so nothing stops a candidate sitting it first. The corequisite bites later, at the point of applying to register with a state. In practice the Series 7 also requires broker-dealer association, which the SIE does not, so the ordinary sequence is SIE first while unsponsored, then Series 7 once a firm has sponsored the candidate, then Series 66. Sitting Series 66 early is defensible only if the Series 7 sponsorship is already arranged. If it falls through, the Series 66 pass sits unusable while its own validity clock runs.
Choosing between Series 63, 65 and 66
The decision turns on the Series 7, not on the state law content. A candidate who holds or will hold the Series 7 and needs both agent and investment adviser representative registration can take the Series 66 once, for USD 177 in 150 minutes, instead of the Series 63 and Series 65 separately at USD 147 plus USD 187 across 255 minutes. A candidate with no Series 7 cannot use the Series 66 route at all and must take the Series 65, which NASAA describes as qualifying candidates as investment adviser representatives and lists no corequisite against. Someone needing only agent registration takes the Series 63.
Where the pass mark actually sits
Seventy-three of 100 scored questions is a materially harder bar than the SIE's 70 on a scaled 0-100 basis, and it is expressed as a raw count rather than a scaled score. Ten of the 110 questions on screen are unscored pretest items that are not identified, so a candidate has no way to discount any question as not counting. The working assumption has to be that every question is live. With 150 minutes for 110 questions, the average is roughly 82 seconds per item, which is comfortable enough that time pressure is rarely the binding constraint; accuracy is.
The 120-day window is the real deadline
FINRA posts a 120-day window in which the exam must be taken, opening the day after enrolment. That window, not any published exam date, is the deadline to plan against. FINRA advises scheduling as far in advance as possible because test centre availability, not the window itself, is usually what constrains the chosen date. Candidates should not enrol until study is genuinely under way: enrolling early burns window days that cannot be recovered. Online proctored delivery is not a fallback here, since for the Series 66 it is available only under an approved testing accommodation.
Content is state law, not product knowledge
The Series 66 covers the state law ground of the Series 63 and Series 65 combined, and NASAA revised its test specifications with effect from 12 June 2023. Because the SIE and Series 7 already carry the product and market material, the Series 66 assumes that knowledge rather than retesting it, which is why the corequisite design exists in the first place. Candidates coming to it straight after the Series 7 usually find the change of register harder than the volume: the questions are about registration, fiduciary duty, unethical practices and state authority rather than instrument mechanics. Study material aligned to the 2023 specifications is the version to use.
Common questions
Can I take the Series 66 without the Series 7?
You can sit it. FINRA and NASAA both state there is no prerequisite for the Series 66. What you cannot do is use it. NASAA states that the Series 7 is a corequisite that must be successfully completed in addition to the Series 66 before a candidate can apply to register with a state. So a Series 66 pass held on its own produces no registration and no ability to conduct business until the Series 7 is also passed.
How much does the Series 66 cost in 2026?
FINRA lists the Series 66 examination fee at USD 177. For comparison, FINRA lists the Series 63 at USD 147 and the Series 65 at USD 187 on NASAA's content outline pages, and the SIE at USD 100. Taking the Series 63 and Series 65 separately therefore costs USD 334 against USD 177 for the single combined exam, before any study material or firm-level charges.
What score do I need to pass the Series 66?
At least 73 of the 100 scored questions must be answered correctly, according to both FINRA's Series 66 page and NASAA's content outline. The exam presents 110 questions in total, of which 10 are unscored pretest items that are not flagged on screen. Total time is 150 minutes. The exam is closed book and NASAA confirms that candidates are notified of their result immediately on completing the session.
Should I take the Series 65 or the Series 66?
It depends entirely on the Series 7. NASAA describes the Series 65 as qualifying candidates as investment adviser representatives and lists no corequisite exam against it, so it is the route for candidates who are not taking the Series 7. The Series 66 requires the Series 7 as a corequisite but covers the Series 63 and Series 65 state law ground in one 150-minute sitting at USD 177. Series 7 candidates who need both registrations take the 66.
How long do I have to book the exam after enrolling?
FINRA's scheduling page states that a 120-day window is posted in which the exam must be taken, and that the window opens the day after enrolment. Prometric is the named delivery vendor. FINRA encourages candidates to schedule as far in advance as possible to secure a preferred date. Online proctored delivery is available to all candidates for the SIE, but for other exams including the Series 66 it requires an approved testing accommodation.
What happens if I fail the Series 66?
NASAA sets out the retake sequence on its Series 63 content outline page as a minimum 30-day wait after a first failure, a further minimum 30 days after a second, and a minimum 180 days after a third and subsequent failures. FINRA's SIE frequently asked questions describe the same 30, 30 and 180-day structure for that exam. Each attempt is a fresh enrolment, so the fee and a new 120-day window apply again.
