Securities exam changes for 2027: shorter retake waiting periods
Last checked October 16, 2026 · Sources: FINRA Regulatory Notice 26-18, FINRA’s SEC filing (SR-FINRA-2026) and NASAA’s August 10, 2026 announcement; FINRA qualification exams table
The biggest securities exam changes for 2027 are shorter waits to retake a failed exam. FINRA is cutting its waits from 30 to 15 days after a first or second failure and from 180 to 60 days after a third, with testing windows adjusted from January 19, 2027. NASAA is cutting the third-failure wait on the Series 63, 65 and 66 from 180 to 60 days from January 4, 2027.
FINRA: retake waits for the SIE, Series 6, 7 and other FINRA exams
In Regulatory Notice 26-18, FINRA says it has amended Rule 1210.06, the rule on waiting periods for retaking a failed exam. The wait after a first or second failed attempt drops from 30 calendar days to 15, and the wait after a third or later failed attempt within a two-year period drops from 180 calendar days to 60. FINRA filed the change with the SEC on June 29, 2026, and the change applies to all FINRA qualification exams, including the SIE.
There’s a timing detail worth knowing. FINRA says it can’t adjust testing windows to the shorter waits before the effective date, so windows created before then will initially show the old waiting period. On January 19, 2027, FINRA will adjust those windows to the new, shorter periods. FINRA also says it can’t adjust a window without cancelling an existing appointment, so if you’re scheduled already, check before you change anything.
NASAA: retake waits for the Series 63, 65 and 66
On August 10, 2026, NASAA announced that the waiting period after a third unsuccessful attempt on the Series 63, 65 and 66 will drop from 180 days to 60 days, letting candidates retest 120 days sooner. The change takes effect on January 4, 2027. The waits after a first or second unsuccessful attempt stay at 30 days. NASAA explained that because its exams can be taken without firm sponsorship, it weighed the extra risks before shortening the wait.
Old and new waiting periods side by side
| After failing | FINRA exams: before | FINRA exams: from Jan 19, 2027 | NASAA exams: before | NASAA exams: from Jan 4, 2027 |
|---|---|---|---|---|
| 1st attempt | 30 days | 15 days | 30 days | 30 days |
| 2nd attempt | 30 days | 15 days | 30 days | 30 days |
| 3rd or later attempt | 180 days | 60 days (within two years) | 180 days | 60 days |
Sources: FINRA Regulatory Notice 26-18 and NASAA’s August 10, 2026 announcement, checked October 16, 2026.
Fees in 2026
Exam fees haven’t changed with the retake rules. FINRA’s current table lists the SIE at $100, the Series 7 at $395, the Series 63 at $147, the Series 65 at $187 and the Series 66 at $177. Older sites may still show an $80 SIE fee or a $300 Series 7 fee from earlier years. Every retake still means a new enrollment, a new 120-day testing window and paying the full fee again.
What these changes mean for you
- If you just failed: you may be able to retest sooner after January 2027, but use the time to fix weak sections, not just to rebook.
- If you’re already scheduled: FINRA can’t adjust a testing window without cancelling the appointment, so don’t cancel just to chase a shorter wait.
- If you’ve failed three times: the change matters most here, cutting the wait from about six months to two.
- Prep courses: many still quote the old 30 and 180-day rules; trust FINRA and NASAA over prep sites.
Common questions about the 2027 securities exam changes
When do the new retake waiting periods start?
FINRA’s change applies to testing windows from January 19, 2027, when FINRA will adjust existing windows. NASAA’s change for the Series 63, 65 and 66 takes effect January 4, 2027.
Does the change apply to the SIE?
Yes. FINRA says the change covers all its qualification exams, including the SIE.
Is the Series 63 first retake wait also shorter?
No. NASAA keeps 30 days after a first or second failure and only shortens the third-failure wait to 60 days.
Do retake fees change too?
No. FINRA’s fees are unchanged by this rule: $100 for the SIE and $395 for the Series 7, and you pay again for each retake.
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