Contents
Overview Of The Series 63 Exam
The Series 63 (Uniform Securities Agent State Law) Examination certifies you to solicit orders for any type of security in a most US States. The primary focus of the exam is the principles of state securities regulation, in addition to ethical standards and fiduciary responsibilities.
Passing the exam will qualify you to take the Series 7 or Series 6, either of whose successful completion is required to sell securities. Given the exam difficulty and cost, it’s important to prepare yourself going in, and a quality study guide can help get you there.
We’ll cover the exam in detail, and give you our picks for the best Series 63 study guides, review guides, and flashcards below, but if you just can’t wait, here’s the short list:
Series 63 Exam Details
The Series 63 Exam contains 65 questions (60 scored, and 5 trial questions for future exams). The test is closed book, and only scratch paper and writing instrument are allowed on the test.
Exam Topics
The 8 broad topics which make up the full Series 63 Exam:
- Regulation of Investment Advisers (questions: 3, weight: 5%)
- Regulation of Investment Adviser Representatives (questions: 3, weight: 5%)
- Regulation of Broker-Dealers (questions: 9, weight: 15%)
- Regulation of Agents of Broker-Dealers (questions: 9, weight: 15%)
- Regulation of Securities and Issuers* (questions: 3, weight: 5%)
- Remedies and Administrative Provisions (questions: 6, weight: 10%)
- Communication with Customers and Prospects (questions: 12, weight: 20%)
- Ethical Practices and Obligations (questions: 15, weight: 25%)
With this broad range of topics covered by the exam, you need to carefully plan your study time leading up to the test. It’s important to prepare a study plan, and stick to it! Most of the resources on our list will cover this process to help you succeed.
Exam Scoring
The Series 63 is scored as a pass/fail, and you need a score of 43 correct of the 60 scored questions. You won’t know which 5 questions aren’t scored, so treat everyone like it’s the real thing. You don’t lose any points if you answer incorrectly, so be sure to take a guess on any question you’re not sure about.
Best Series 63 Study Guides
Wiley Series 63 Exam Review
Pros: Well formatted and comprehensive.
Cons: Some examples can be hard to follow.
Our Rating: 5.0 / 5
Wiley Series 63 Exam Review is our number one recommendation Series 63 study guide in 2019! It features over 200 pages of review notes that touch on every exam topic covered by the Series 63. The full list of features include:
- Dozens of examples
- Assorted practice questions for each subject area covered in the exam
- Priceless test-taking tips and strategies
- Helpful hints on how to study for the test, manage stress, and stay focused
This newly revised edition covers the most up to date version of the exam, including the tax code changes from 2018. There are a ton of great Series 63 study guides out there (including the ones below), but this one is our top pick, due the extensive content and strong organization.
Pass The 63
Pros: Great review of exam topics.
Cons: Some typographical errors.
Our Rating: 4.5 / 5
Pass The 63 is our second place entry on our list of best Series 63 Exam guides. It comes complete with a comprehensive overview of all exam topics, and great practice questions.
The full list of features include:
- Uses Plain English and concise explanations
- Great practice questions with detailed explanations
- Over 450 challenging questions in the Pass the 63 Practice Exam Question Bank
- In-depth and easy to read
The organization and depth in this guide isn’t quite as good as our top pick above, but it’s still a viable guide if you’re looking for something less pricey. The material is pretty comprehensive, but the lack of structure makes it hard to reference effectively in the days leading up to the exam. While this is a perfectly good option for studying for the Series 63, we tend to recommend the Wiley guide above for most people.
Series 63 Exam Secrets
Pros: Well written and structured.
Cons: Minor accuracy issues with some example questions.
Our Rating: 4.5 / 5
Series 63 Exam Secrets rounds out our list of top study guides (see flashcard pick below). It’s another great resource that you can use as your primary study aid, it just didn’t quite make it to our top spots. The features for this guide include:
- An in-depth look at remedies and administrative provisions
- A guide to communications with clients and prospects
- A detailed examination of client funds and securities
- An analysis of conflicts of interest and other fiduciary issues
- Comprehensive practice questions with detailed answer explanations
There’s a ton of great content in this guide, and it’s sure to help you score higher than trying to wing it. Be sure to leave plenty of time to prepare, set out a study plan, and stick to it!
Series 63 Exam Flashcard Study System
Pros: Complete coverage of all exam topics.
Cons: Cards can be fairly densely packed with info.
Our Rating: 4.5 / 5
Series 63 Exam Flashcard Study System is our pick if you study well with flashcards. This set really boils down all of the test topics into compact cards that are great for quick review and memorization.
The full list of features include:
- Written in an easy to understand, straightforward style
- Over 200 cards
- Cards include thorough explanations so you understand why you answer was right or wrong
- Professional-quality cards that will not smear or wear out with heavy usage
Flashcards aren’t usually enough for most people to study from on their own, but they can be a terrific way to compliment a study guide. We strongly recommend picking these up!
Series 63 Exam Frequent Questions
What is a Series 63 license used for?
Once you’ve completed the Series 63 exam, you’ll be certified as ready to take either the Series 7 or 6. Completion of either of which allows you to solicit orders for securities in most US states.
What is on the Series 63 exam?
The majority of the exam covers state securities regulations, with additional sections covering ethical and fiduciary responsibilities.
What is the pass rate for the Series 63 exam?
A passing score for the exam is 43 out of 60 (72%). The actual rate of passing scores per attempt isn’t published.
How long does it take to study for the Series 63 exam?
Depending on your level of experience and test taking abilities, it may take anywhere from 1-4 weeks to prepare for the Series 63. It’s not the most difficult exam you’re going to have to take, but being sure you understand what to expect going in is a fantastic idea.
What happens if you fail the Series 63 exam?
If you fail on your first attempt, don’t panic! You can retry after a short waiting period:
- 30 days after first failure.
- 30 days after seconds failure.
- 180 days after the third failure (and any additional beyond 3).
Wrapping Up
While the Series 63 isn’t quite as difficult as some other finance exams (e.g. the CFA), it’s still a good idea to set aside a decent amount of study time to prepare. A good set of materials, including a study guide, practice questions, and flashcards can help focus your efforts and ensure a passing score.
We’ve rounded up the best Series 63 Exam study materials out there, and presented them above. To recap our recommendations:
| Top Study Guide Recommendation: | Wiley Series 63 Exam Review |
|---|---|
| Top Flashcard Recommendation: | Series 63 Exam Flashcard Study System |
Wiley Series 63 Exam Review is our #1 choice for Series 63 Study Guide. It has the best material, a great layout, and high production value.
Series 63 Exam Flashcard Study System is our best recommendation if you find flashcards to be useful when preparing for exams. It condenses down the materials to the most critical concepts, and puts them onto hundreds of cards that are great for review.
Whatever your circumstance, supplemental study and review materials are a key part of ensuring success on the exam. We’ve listed some of the best Series 63 resources available. Good luck, and study hard!