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Finally passed my RIA exam after two attempts — here's what actually worked

by Jessica L. 500 views3 replies
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Jessica L.OP
May 27, 2026

So I just got my results back yesterday and I finally passed. Honestly didn't think I'd make it after failing the first time by 11 points. I'm a financial advisor at a small firm in Ohio and my boss basically said I needed this done by Q2 or we'd have to talk about my role. No pressure, right?

The first time I studied I mostly just read through the Investment Advisers Act of 1940 and figured that'd be enough. Big mistake. The exam hits you hard on fiduciary duty nuances, custody rules, and the difference between federal vs. state registration thresholds — stuff you really need to work through with a solid RIA practice test setup, not just passive reading. I ended up using a structured study guide and drilling questions for about three weeks before my second attempt, maybe 90 minutes a night.

Happy to share the specific topics that tripped me up and the exam tips that actually moved the needle. Anyone else currently studying or just starting out? Would love to compare notes on what resources you're using.

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Kevin O.
May 28, 2026
Congrats on passing! I'm about six weeks out from my scheduled date and the custody rules are killing me. The whole qualified custodian piece and the surprise audit exemptions — every time I think I've got it, I miss a question. Did you find the actual exam matched what you were seeing in practice questions, or did it throw curveballs? I've heard the real thing is heavier on ethics scenarios than most prep materials suggest.
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Tyler B.
May 28, 2026
The federal vs. state threshold thing is legitimately one of the trickiest parts. It's not just memorizing the $110 million AUM cutoff — you need to understand the exceptions, especially for pension consultants and internet advisers. I spent an embarrassing amount of time getting those wrong before it finally clicked. What study guide did you end up using for your second attempt? I'm trying to decide between a few options right now.
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emily_w
May 28, 2026
This is really encouraging to read. I failed my first attempt too and almost just gave up. Knowing it's doable on the second try if you actually fix your study approach helps a lot. Good luck to everyone else grinding through this thing.

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