Series 66 Investment Adviser with your Series 7

For people who are already licensed Series 7 but need to get their Investment Adviser license and need the Series 63 (Uniformed State Law), should take the Series 66 vs. the Series 65 and 63 separately.

The reason is the combined license (66) is a simpler exam than the 65 and it dual-covers you. This option is only available to those who are already Series 7 Licensed.  The North American Securities Administrators Association (NASAA) is the governing body that overseas the 66. Though the test is taken at exam centers through FINRA.

IMPORTANT NOTE:  The SERIES 7 is NOT required to take the SERIES 66. So, you can begin studying and sit for the 66. But, the 7 is ultimately required to have your 66 active.

The combined Investment Adviser exam contains 100 questions and like all FINRA - NASAA exams, it is multiple choice delivered at hundreds of test centers throughout the world.

Once you begin studying, you can open a test window for 120 days. This means you have 120 days to take the exam under your registration. An exam fee is required. For the Series 66 it is $155 (as of January 2016). The "window" period is the same for all Series Exams, including the Series 7.

FEE BASED and COMMISSION

The Series 65 or 66 allows a person to charge clients for fees or assets under management. This is not the same as charging a client a commission or mark up on transactions. It is serious violation to charge a customer for fees and commission on transactions. However, a Series 7 broker who is also licensed as a registered investment adviser CAN have a book of clients that include FEE BASED management and COMMISSION BASED for other clients.

TO PASS THE SERIES 66 you should begin a consistent study program. American Investment Training recommends 2-4 weeks of study time - roughly 2 hours daily. Accurate practice exams are HUGELY important when preparing for this test. The Series 66 contains mostly rules, regulations and customer accounts. Since these areas do change periodically, you want to make sure the study material is current.

We have provided the best options to pass this exam FAST. All material is up to date and carry "exam tough" practice questions. We don't want you to be surprised or under-prepared.

TIME IS MONEY!   Learn your way to FEE based income. PASS the Series 66 now.

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