Series 63 Test Breakdown

If you're planning on becoming a stockbroker or trader of any securities, you'll need to take the Uniform Securities Agent State Law exam, which is also known as the Series 63 exam, and which is given by the Financial Industry Regulatory Authority (FINRA) on behalf of the North American Securities Administrators Association (NASAA). You may have heard this test referred to as the Blue Sky exam.It's a test that will qualify you to trade securities in any state in America-anywhere “under the blue sky”-and not just in your home state. Passing the Series 63 exam is a must in today's market environment, as virtually every brokerage firm in existence does business across state lines and have branches in many cities across America. You'll need to study up on the Uniform Securities Act, which governs interstate trading, as well as rules and regulations concerning soliciting customers and handling their accounts, and the technical definitions of such terms as securities, broker, dealer, agent, etc., record keeping rules, and lawful business practices. It costs $82 to take the Series 63 exam, and you can take it all over the country at any Prometric testing center.

You won't be allowed to bring scratch paper or a calculator, but the testing center will provide them if you request them. In most locations you can take the test pretty much any time-Monday through Saturday. Check with the nearest location for scheduling. You'll be given an hour and fifteen minutes to complete the test, which will have 65 multiple choice questions.In order to pass the Series 63, you'll need to achieve at least a 70% correct answer rate.

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