RIA Cheat Sheet 2026
The 30 highest-yield RIA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.
RIA exam key facts
- Candidates get 180 minutes to complete the Series 65 exam. Source
- To pass the Series 65 exam, a candidate must answer at least 92 of the 130 scored questions correctly. Source
- The Series 65 Uniform Investment Adviser Law Exam, which individuals pass to qualify for state registration as investment adviser representatives, costs $187. Source
- After failing the Series 65, candidates wait 30 days before the second and third attempts and 180 days after a third failure; from January 4, 2027 the wait after a third failure drops to 60 days. Source
- After passing the Series 65, a candidate has two years to register with a state before the exam expires, and the exam stays valid for as long as the person remains registered. Source
130 questions
180 min time limit
71% to pass
- Which investment strategy focuses on undervalued stocks? → Value investing.
- Which quality improvement method is most applicable to financial analysis & reporting in Registered Investment Advisor? → Plan-Do-Check-Act (PDCA) continuous improvement cycle
- The 10% early withdrawal penalty from IRAs applies to distributions taken before: → Age 59½
- Jensen's alpha measures portfolio performance as: → The portfolio's actual return minus its CAPM-expected return given its beta
- What does GIPS stand for in the context of investment performance reporting? → Global Investment Performance Standards
- Which documentation practice is most important for tax planning & strategy in the RIA field? → Maintaining complete, accurate, and timely records
- What is a primary characteristic of tactical asset allocation? → Changing asset mix based on market outlook.
- The Securities Investor Protection Corporation (SIPC) protects investors against: → Broker-dealer failure and missing customer assets
- Which of the following is true about index funds? → They replicate index performance and have lower fees.
- Which of the following best describes a key competency required for regulatory compliance & ethics in RIA certification? → Critical thinking and evidence-based decision making
- The 'stretch IRA' strategy was largely eliminated by: → The SECURE Act of 2019
- In Registered Investment Advisor, what role does tax planning & strategy play in ensuring client/stakeholder satisfaction? → It builds trust through demonstrated competence and consistency
- The Investment Advisers Act anti-fraud provisions apply to: → All persons meeting the definition of investment adviser, regardless of registration
- Which investment vehicle allows investors to gain exposure to commodities without directly holding physical assets? → Commodity ETFs
- Which vehicle allows for pooling investor funds and active management? → Mutual fund
- What is the significance of peer review in financial analysis & reporting for RIA professionals? → It promotes accountability, knowledge sharing, and quality improvement
- When constructing a liability-driven investment (LDI) strategy, the primary objective is: → Matching the portfolio's assets to specific future liabilities
- A 403(b) plan is similar to a 401(k) but is specifically designed for: → Public school systems, nonprofits, and tax-exempt organizations
- Which technology trend is most likely to impact tax planning & strategy in the RIA field in coming years? → Digital tools for enhanced data collection, analysis, and reporting
- Which portfolio management strategy aims for capital preservation? → Conservative investing.
- The Investment Advisers Act defines 'investment adviser' to include persons who: → Provide advice about securities for compensation
- In a GIPS-compliant performance presentation, composite dispersion is primarily used to show: → The range of individual portfolio returns within the composite during the period
- How often must RIAs update their Form ADV? → Annually and with material changes.
- Which scenario demonstrates a potential breach of fiduciary duty? → Recommending a proprietary fund without disclosing the adviser's financial interest in it
- Survivorship bias in investment performance reporting occurs when: → Poorly performing or closed funds are excluded from historical performance databases
- What is a benefit of a 'buy and hold' strategy? → Lower transaction costs over time.
- Performance attribution analysis is primarily used to: → Identify the sources of a portfolio's return relative to its benchmark
- The Sharpe ratio of a portfolio is calculated as which of the following? → (Portfolio Return – Risk-Free Rate) / Standard Deviation
- A bond trading at a premium means: → Its coupon rate is above the current market rate
- When gathering information for a client suitability assessment, which factor is LEAST relevant? → Client's neighbor's investment strategy
Turn these facts into recall:
What Practice Test Geeks adds beyond an AI chat for RIA
An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:
- A timed, full-length RIA mock exam — 130 questions in 180 minutes with a 71% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
- A fixed RIA question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
- Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
- RIA flashcards built from the same question bank.
- Free RIA practice tests with the correct answer shown after each question.
Was this helpful?
How this page was made: written with AI tools. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy
Sources & references
Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy