How to Pass the Series 66 Exam

A Series 66 Exam allows a person to become a Registered Investment Adviser. It is administered by agencies on behalf of the Financial Industry Regulatory Authority and tests individuals who possess a registered representative licenses, the Series 7 Exam about the additional information that needs to be mastered to become an RIA. A person is allotted 2.5 hours to answer 100 multiple-choice questions and must score at least 71 percent to pass.

Things You'll Need

• Series 66 study guide with exam prep

Instructions

How to Study for the Series 66 Exam

1. Fill out any required paperwork, fingerprinting and background history and submit. Set a date for three to four weeks after the study materials arrive (or the date designated to start reviewing the material).

2. Break down the study material into the sections that the test will focus on. Approximately 20 of the questions deal with investment analysis, recommendations and strategies. The other 80 deal with ethics and legal guidelines.

3. Take the practice exams after each chapter, marking your answers on a separate piece of paper. Take the exam until you score 100 percent.

4. Give yourself a week to take the practice tests at the end of each chapter. Do at least one chapter a day. Go over the chapter tests again. Score the test and review the questions you missed. Repeat tests that did not score over 80 percent.

5. Review concepts and chapters that are trouble areas, but focus on the practice exams which are longer than chapter tests and mimic the actual exam format. Many people fail because they did not focus on the nuances in how questions are asked.

6. The night before the exam, do one exam and put the study materials away. Have a relaxing evening and get a good night's sleep.

Passing the Series 66 Exam

1. Eat a good breakfast the morning of the exam. Get to the test center early and walk around to stretch your legs before you need to sit for 2.5 hours. Go to the restroom and get a drink of water or coffee if needed.

2. Make sure you have your registration paperwork and two forms of identification. Bring your reading glasses.

3. Most test centers use computer terminals. A calculator, pencil and scratch paper are supplied by the test center.

4. Go through the test quickly answering only the questions you know for sure and skipping the ones you need to think about.

5. Review the questions you were confused about. Be sure to read every word carefully to make sure you understand what the exam is asking.

6. When you have completed the exam, review the questions from start to finish. Read each question carefully and check your answer. When you are finished, follow the instructions to complete the exam and have it scored. The score is recorded within minutes, so you can walk out knowing whether you have passed

Tips & Warnings

• You have 1.5 minutes per question, which is plenty of time.

References

• Securities Exam Preparation, Inc - Series 66