Series 63 exam guide: state law, fee, passing score and who needs it
Last checked October 16, 2026 · Sources: FINRA qualification exams table and Series 63 page; NASAA exams FAQ and August 10, 2026 announcement; NASAA’s 2023 update as reported by Achievable and Knopman Marks
The Series 63 exam, the Uniform Securities Agent State Law Exam, is the NASAA exam most brokers take alongside the Series 7. It has 60 scored questions in 1 hour 15 minutes, costs $147, and you need 43 correct (72%) to pass. NASAA says you can take it without firm sponsorship.
What the Series 63 exam covers
The Series 63 is written by NASAA, the association of state securities regulators, and administered by FINRA. It tests the state securities law that applies to securities agents, based on the Uniform Securities Act, along with ethical practices and the duties agents owe customers. It’s shorter than the Series 7 because it covers state rules rather than products.
Who needs the Series 63
Most states require securities agents who sell to their residents to pass a state law exam. Brokers typically pair the Series 7 (or Series 6) with the Series 63. If you’ll also act as an investment adviser representative, the Series 66 combined with the Series 7 can cover both roles instead. Your firm will tell you which exam its registrations need.
| Series 63 | Series 65 | Series 66 | |
|---|---|---|---|
| Role | Securities agent | Investment adviser representative | Agent and adviser (with the Series 7) |
| Questions / time | 60 / 1 hr 15 min | 130 / 3 hr | 100 / 2 hr 30 min |
| Fee | $147 | $187 | $177 |
| To pass | 43 of 60 | 92 of 130 | 73 of 100 |
Fees and format from FINRA’s qualification exams table; passing scores from NASAA’s 2023 update as reported by prep providers. Checked October 16, 2026.
Retakes
NASAA requires a 30-day wait after a first or second unsuccessful attempt. After a third, the wait is currently 180 days but drops to 60 days from January 4, 2027, according to NASAA’s August 10, 2026 announcement. You pay the fee again for each attempt. See our 2027 exam changes page.
How to prepare for the Series 63
- Learn the key definitions in state securities law, such as who counts as an agent, a broker-dealer and an investment adviser, since many questions turn on them.
- Study registration rules and exemptions, and what the state administrator can do.
- Know the prohibited and unethical practices; they come up often.
- Take timed 60-question practice exams in 75 minutes.
Achievable lists its Series 63 course at $79, as of October 2026. Kaplan also sells Series 63 prep on its site.
Common questions about the Series 63 exam
How many questions are on the Series 63?
60 scored questions in 1 hour 15 minutes, according to FINRA’s exam table.
What is the Series 63 passing score?
43 of 60, or 72%, per NASAA’s 2023 update as reported by prep providers.
How much does the Series 63 cost?
$147, according to FINRA’s exam table.
Do I need a sponsor for the Series 63?
No. NASAA says its exams can be taken without firm sponsorship.
Series 63 or Series 66?
The Series 63 covers state law for securities agents. The Series 66 combines state law with investment adviser law and is taken with the Series 7.
See also our Series 7 guide, Series 65 guide and Series 66 guide. MockTestPrep is independent and is not affiliated with NASAA or FINRA.