The Series 63 is the state law exam for people who need to register as securities agents. This page gives you free practice sets by topic, a map of the official content areas, worked explanations of sample questions, and a study plan. The exam runs 75 minutes, requires 43 of 60 scored questions correct, and costs $147 per attempt.
The Series 63 takes about 75 minutes and costs $147[1][2] (North American Securities Administrators Association (NASAA); administered by FINRA, verified Oct 19, 2026).
Numbers in brackets link to the official sources listed under Sources & last verified. Dates that have passed are removed automatically.
| Item | Detail | Source · Verified |
|---|---|---|
| Time limit | 75 minutes[1] | finra.org · Oct 15, 2026 |
| Passing score | 43 of 60 scored questions correct[3] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 15, 2026 |
| Exam fee | $147 per attempt[2] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Retake policy | 30 days after failures 1–2; 180 days after failure 3 and subsequent failures[4] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Validity | Generally two years without registration; maintained while registered[5] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Renewal | Maintained through active registration[2] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Delivery | Prometric test centers; online only with approved accommodation[6] | finra.org · Oct 15, 2026 |
| Eligibility | Firm sponsorship not required[7] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Score release | Immediately after completion[4] | North American Securities Administrators Association (NASAA); administered by FINRA · Oct 19, 2026 |
| Testing window | 120-day individual testing window[8] | finra.org · Oct 15, 2026 |
According to North American Securities Administrators Association (NASAA); administered by FINRA, “To pass the examination, a candidate must correctly answer at least 43 of the 60 scored questions.”[3]
The Series 63 is the Uniform Securities Agent State Law Exam. The North American Securities Administrators Association (NASAA) owns the exam and FINRA administers it. It tests state securities law and the conduct rules that apply to agents, broker-dealers and investment adviser representatives. Firm sponsorship is not required, so you can take it before you have an employer.
The exam is delivered at Prometric test centers. Online delivery is offered only to candidates who have an approved testing accommodation. After you are enrolled, FINRA posts a 120-day individual testing window, and you must sit the exam inside it. The fee is $147 per attempt. You have 75 minutes, and you pass by answering at least 43 of the 60 scored questions correctly. Your result is shown immediately after you finish.
If you do not pass, the wait before a retake is 30 days after failures 1–2, and 180 days after failure 3 and any later failure.
A passing result is maintained through an active state registration. Without registration, the exam generally stays valid for two years after a registration ends. Registration requirements and filing steps vary by state, so confirm the details with your state regulator and the NASAA exam pages, which are the official source for anything on this page.
The content areas below are copied from the official Series 63 content outline published by North American Securities Administrators Association (NASAA); administered by FINRA. The right-hand column shows which of our practice sets covers it.
| Official content area | Practice on this site |
|---|---|
| Ethical Practices and Obligations[9] | Series 63 – Uniform Securities Agent State... Practise spotting dishonest or unethical conduct and deciding which actions are prohibited, even when they look routine. |
| Regulations of Agents of Broker-Dealers[9] | Series 63 – Uniform Securities Agent State... Practise who counts as an agent, when registration is needed, and what happens when an agent changes firms or leaves. |
| Regulations of Broker-Dealers[9] | Series 63 – Uniform Securities Agent State... Practise the definitions and registration rules that apply to a firm, and how they differ from the rules for individuals. |
| Regulations of Investment Adviser Representatives[9] | Series 63 – Uniform Securities Agent State... Practise who must register as an adviser or representative, what duties they owe clients, and which activities are restricted. |
| Regulations of Securities and Issuers[9] | Series 63 – Uniform Securities Agent State... Practise telling exempt securities from exempt transactions, and learn the main ways a security can be registered. |
| Remedies and Administrative Provisions[9] | Series 63 – Uniform Securities Agent State... Practise the powers of the Administrator, including denial, suspension and revocation, and the remedies open to investors. |
Prepare for the Series 63 – Uniform Securities Agent State Law Exam exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.
These are practice questions written for this site, not questions from the real exam. Each explanation shows why the right answer is right and why the others are wrong.
Question: Under the USA, what is required when an agent makes an investment recommendation to a client?
Answer: B. That the agent have a reasonable basis for believing the recommendation is suitable for that specific client given their financial situation and objectives
Explanation:
Option B is correct. When an agent recommends a security, the agent needs a reasonable basis to believe it is suitable for that particular client, based on their financial situation and objectives. Option A is wrong because registration of a security does not make it suitable for any given person. Option C is wrong because a recommendation does not have to be written or signed by the client to be lawful. Option D is wrong because a credit rating is not a legal condition for a recommendation, and plenty of suitable investments have no such rating.
Rule to remember: suitability is about the client, not only the product. The same security can be fine for one person and unsuitable for another.
Question: Under the USA, the Administrator may deny registration to an applicant for which of the following reasons?
Answer: B. The applicant has been convicted of a securities-related felony within the past 10 years
Explanation:
Option B is correct. A securities-related felony conviction within the past 10 years is a recognised ground for the Administrator to deny registration, because it bears directly on trustworthiness around client money. Option A is wrong because the law does not set a minimum of five years of industry experience for an applicant. Option C is wrong because not having passed FINRA exams is not the denial ground described here; the required exams are a separate matter. Option D is wrong because age, such as being over 65, is not a basis for denial.
Rule to remember: denial turns on conduct and integrity, such as convictions, fraud findings and similar history, not on age or length of experience.
Question: Under the USA, can the Administrator issue a summary suspension of a registration without prior notice or hearing?
Answer: B. Yes, if the Administrator finds it in the public interest and for the protection of investors
Explanation:
Option B is correct. The Administrator can issue a summary suspension without a prior hearing when it is in the public interest and protects investors. Notice and a chance for a hearing must follow promptly. Option A is wrong because a hearing is not always required first; that would stop the Administrator acting quickly when investors are at risk. Option C is wrong because the Administrator does not need a court's approval for this step. Option D is wrong because criminal charges are not a precondition for an administrative suspension.
Rule to remember: the Administrator may act first for investor protection, but the registrant still gets notice and a hearing afterwards.
Start with the official material. Read the NASAA content outline so you know what each area covers, then take one practice set to see where you stand. Do not worry about the score at this stage; the point is to find the topics that feel unfamiliar.
Our questions are written by us to practise the rules; they are not real exam questions. Use them to find gaps, then close those gaps with the official outline.
You must correctly answer at least 43 of the 60 scored questions. The exam gives you 75 minutes. Your result is shown immediately after you complete it, so you will know your outcome before you leave the test center.
The fee is $147 per attempt. Because the fee applies to each attempt, a retake means paying again. Check the NASAA exam FAQs for the current fee before you enroll, since the official site is the final word on pricing.
No. NASAA's qualification exams can be taken without firm sponsorship. That means you can enroll and sit the Series 63 on your own. Registration itself is a separate step handled through your state, and its requirements vary by state.
After you are enrolled, FINRA posts a 120-day individual testing window, and the exam must be taken within it. Plan your study time so that your test date falls well inside that window rather than at its edge.
The wait is 30 days after failures 1–2. After failure 3 and any later failure, the minimum wait is 180 days. Use the waiting period to review the topics you missed, using the practice sets by content area.
The exam is kept valid through an active state registration. Without the extension program, it generally stays valid for two years after a registration is terminated. If you may be away from registration, check NASAA's exam validity pages for the current rules.
How we verify: editorial & fact-checking policy. Report an error: contact us.