Securities licensing exams
Roughly 1 in 3 first-time takers fails the Series 65.
The pass line is 92 of 130. Most candidates never face exam-length, exam-weighted, exam-timed questions until the real thing. That's the gap we close.
Pass rates & pass lines, without the spin
Two kinds of numbers get mixed up constantly. The passing score is official — published by the regulators, fixed, non-negotiable. The pass rate mostly is not: NASAA publishes no pass-rate statistics for its exams, so every Series 63/65/66 figure you see online is an estimate. We label which is which.
| Exam | Passing score official | First-time pass rate |
|---|---|---|
| Series 65Investment Adviser Law (NASAA) · full breakdown → | 92 / 130 (~71%) | ~65–70% estimate |
| Series 66Combined State Law (NASAA) | 73 / 100 (73%) | ~65–70% estimate |
| Series 63Securities Agent State Law (NASAA) | 43 / 60 (72%) | ~70% estimate |
| SIESecurities Industry Essentials (FINRA) | 70% | 74% FINRA, 2019 disclosure |
| Series 7General Securities Representative (FINRA) | 90 / 125 (72%) | 71% FINRA, 2019 conference |
Where these numbers come from: Passing scores are published in the official NASAA and FINRA exam specifications. The SIE and Series 7 pass rates are the most recent figures FINRA has disclosed publicly (2019: 74% first-time SIE across 58,264 candidates; 71% Series 7 pass-through, Oct 2018–Mar 2019); FINRA does not publish updates on a regular schedule. NASAA has never published pass rates for the Series 63, 65, or 66 — the estimates shown are the consensus range reported by exam-prep providers from their own student data, and no regulator stands behind them. Treat estimates as directional, and the passing score as the number that matters: it's fixed, and it's what our mock exams grade you against.
Now available
Series 65 timed mock exams
Original questions distributed exactly like the real exam, on the real clock — 83 seconds per question, the same pacing as 130 questions in 180 minutes.
Real pacing, on a clock
The exam gives you about 83 seconds per question. Our timer runs the same rate, and the score report shows where your time went.
An explanation for every answer
Right and wrong choices both get a plain-English explanation, so a missed question becomes a concept you keep.
Scored against the pass line
Reports grade you against the actual standard — 92 of 130 — and break results down by section so you know exactly what to study next.
Flag, skip, return
Mark questions for review and move freely through the exam, just like the testing-center software.
Series 66, 63, and SIE mock exams are on the roadmap — one account will cover them all.
Series 65 full access
$49 one-time
- Complete original question bank, weighted to the NASAA outline
- Unlimited timed mock exams and per-section practice
- Explanations and difficulty ratings on every question
- Score reports with section-by-section breakdowns
- 12 months of access, on any device with your access code
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