ExamExam pass rates · All exams
FINRA and NASAA exam pass rates and passing scores (2026)
Passing scores are official and published for every exam. Pass rates mostly are not: FINRA has disclosed first-time pass rates once, in 2019, and only for the SIE, Series 6, Series 7 and Series 79. NASAA has never published pass rates for the Series 63, 65 or 66. Below is every major exam with its official format, passing score and fee, and the honest status of its pass rate.
| Exam | Passing score | Questions | Time | Fee | Official pass rate |
|---|---|---|---|---|---|
| SIESecurities Industry Essentials | 70% | 75 + 5 pretest | 1 h 45 min | $100 | 74% first-time (FINRA, 2019) |
| Series 6Investment Company and Variable Contracts Products Representative | 70% | 50 + 5 | 1 h 30 min | $100 | 58–59% (FINRA, 2019) |
| Series 7General Securities Representative | 72% | 125 + 5 | 3 h 45 min | $395 | 71% (FINRA, 2019) |
| Series 63Uniform Securities Agent State Law | 72% (43 of 60) | 60 + 5 | 75 min | $147 | None published |
| Series 65Uniform Investment Adviser Law | 92 of 130 (about 71%) | 130 + 10 | 180 min | $187 | None published |
| Series 66Uniform Combined State Law | 73 of 100 | 100 + 10 | 150 min | $177 | None published |
| Series 24General Securities Principal | 70% | 150 + 10 | 3 h 45 min | $235 | None published |
| Series 9General Securities Sales Supervisor, Options | 70% | 55 + 5 | 1 h 30 min | $175 | None published |
| Series 10General Securities Sales Supervisor, General | 70% | 145 + 10 | 4 h | $235 | None published |
| Series 52Municipal Securities Representative | 70% | 75 + 5 | 2 h 30 min | $260 | None published |
| Series 57Securities Trader | 70% | 50 + 5 | 1 h 45 min | $105 | None published |
| Series 79Investment Banking Representative | 73% | 75 + 5 | 2 h 30 min | $395 | 79–87% (FINRA, 2019) |
| Series 82Private Securities Offerings Representative | 70% | 50 + 5 | 1 h 30 min | $100 | None published |
| Series 86Research Analyst, Analysis | 73% | 85 + 10 | 4 h 30 min | $295 | None published |
| Series 87Research Analyst, Regulations | 74% | 50 + 5 | 1 h 45 min | $195 | None published |
| Series 99Operations Professional | 68% | 50 + 5 | 1 h 30 min | $100 | None published |
| Series 3National Commodity Futures | 70% on each part | 120 | 2 h 30 min | $140 | None published |
Questions are scored + unscored pretest. Fees are FINRA's 2026 base fees (the SIE rose from $80 to $100 and the Series 7 from $300 to $395 on January 1, 2026). Pass rates marked "FINRA, 2019" are the figures FINRA disclosed at its 2019 conferences, as reported by Knopman; no newer official figures exist. Sources: finra.org qualification exam pages, content outlines and fee schedule, checked October 1, 2026.
SIE pass rate and passing score
The SIE (Securities Industry Essentials) is administered by FINRA: 75 + 5 pretest questions in 1 h 45 min, with a passing score of 70%. The fee is $100; prerequisites: None (18+, no sponsor).
The SIE is the one exam on this page anyone 18 or older can take without a firm sponsor, and it is the corequisite for most FINRA representative exams. In 2019 FINRA disclosed a 74% first-time pass rate (16,195 exams through January 2019; 29,181 through March). It is still the most recent official SIE figure.
Series 6 pass rate and passing score
The Series 6 (Investment Company and Variable Contracts Products Representative) is administered by FINRA: 50 + 5 questions in 1 h 30 min, with a passing score of 70%. The fee is $100; prerequisites: SIE, firm sponsor.
In 2019 FINRA disclosed that 59% of candidates passed the Series 6 on their first attempt (through January 2019), and that 58% of those who passed the SIE first time also passed the Series 6 first time (through March 2019). Two definitions, so quote the one you mean.
Series 7 pass rate and passing score
The Series 7 (General Securities Representative) is administered by FINRA: 125 + 5 questions in 3 h 45 min, with a passing score of 72%. The fee is $395; prerequisites: SIE, firm sponsor.
FINRA's 2019 disclosures put the Series 7 at 71% on both measures: first-time passes on the Series 7 itself (through January 2019) and candidates who passed both the SIE and the Series 7 on their first attempts (through March 2019). Since October 2025 the exam carries 5 unscored pretest questions, not 10, so it is 130 questions in total. More on the Series 7 →
Series 63 pass rate and passing score
The Series 63 (Uniform Securities Agent State Law) is administered by NASAA (delivered by FINRA): 60 + 5 questions in 75 min, with a passing score of 72% (43 of 60). The fee is $147; prerequisites: None.
NASAA, which owns the exam, has never published a Series 63 pass rate. Prep providers estimate roughly 70–85% (Pass Perfect is cited at 70–75%, Achievable at 80–85%); treat any figure as an estimate. The passing score is official: 72%, or 43 of the 60 scored questions. More on the Series 63 →
Series 65 pass rate and passing score
The Series 65 (Uniform Investment Adviser Law) is administered by NASAA (delivered by FINRA): 130 + 10 questions in 180 min, with a passing score of 92 of 130 (about 71%). The fee is $187; prerequisites: None.
No official pass rate exists; NASAA publishes none. Industry estimates put first-time passes at roughly 65–70%, so about 1 in 3 fails the first attempt. The pass line is official: 92 of 130 scored questions. More on the Series 65 →
Series 66 pass rate and passing score
The Series 66 (Uniform Combined State Law) is administered by NASAA (delivered by FINRA): 100 + 10 questions in 150 min, with a passing score of 73 of 100. The fee is $177; prerequisites: Series 7 corequisite.
No official pass rate exists; NASAA publishes none. Prep providers estimate roughly 65–70% for first-time takers. The pass line is official: 73 of 100 scored questions. Registration also requires the Series 7. More on the Series 66 →
Series 24 pass rate and passing score
The Series 24 (General Securities Principal) is administered by FINRA: 150 + 10 questions in 3 h 45 min, with a passing score of 70%. The fee is $235; prerequisites: SIE plus a qualifying rep exam (e.g. Series 7).
FINRA has not published a Series 24 pass rate. Figures around 70–75% circulate online, but we found no source for them, and a prep firm's own student pass rate is not a market rate.
Series 9 pass rate and passing score
The Series 9 (General Securities Sales Supervisor, Options) is administered by FINRA: 55 + 5 questions in 1 h 30 min, with a passing score of 70%. The fee is $175; prerequisites: SIE + Series 7, firm sponsor.
FINRA has not published a Series 9 pass rate.
Series 10 pass rate and passing score
The Series 10 (General Securities Sales Supervisor, General) is administered by FINRA: 145 + 10 questions in 4 h, with a passing score of 70%. The fee is $235; prerequisites: SIE + Series 7, firm sponsor.
FINRA has not published a Series 10 pass rate.
Series 52 pass rate and passing score
The Series 52 (Municipal Securities Representative) is administered by MSRB (delivered by FINRA): 75 + 5 questions in 2 h 30 min, with a passing score of 70%. The fee is $260; prerequisites: SIE.
FINRA has not published a Series 52 pass rate.
Series 57 pass rate and passing score
The Series 57 (Securities Trader) is administered by FINRA: 50 + 5 questions in 1 h 45 min, with a passing score of 70%. The fee is $105; prerequisites: SIE, firm sponsor.
FINRA has not published a Series 57 pass rate.
Series 79 pass rate and passing score
The Series 79 (Investment Banking Representative) is administered by FINRA: 75 + 5 questions in 2 h 30 min, with a passing score of 73%. The fee is $395; prerequisites: SIE, firm sponsor.
FINRA's 2019 disclosure put first-time Series 79 passes at 87% (through January 2019); 79% of candidates passed both the SIE and the Series 79 on their first attempts (through March 2019). Since October 2025 it carries 5 pretest questions.
Series 82 pass rate and passing score
The Series 82 (Private Securities Offerings Representative) is administered by FINRA: 50 + 5 questions in 1 h 30 min, with a passing score of 70%. The fee is $100; prerequisites: SIE, firm sponsor.
FINRA has not published a Series 82 pass rate.
Series 86 pass rate and passing score
The Series 86 (Research Analyst, Analysis) is administered by FINRA: 85 + 10 questions in 4 h 30 min, with a passing score of 73%. The fee is $295; prerequisites: SIE, firm sponsor.
FINRA has not published a Series 86 pass rate.
Series 87 pass rate and passing score
The Series 87 (Research Analyst, Regulations) is administered by FINRA: 50 + 5 questions in 1 h 45 min, with a passing score of 74%. The fee is $195; prerequisites: SIE, firm sponsor.
FINRA has not published a Series 87 pass rate.
Series 99 pass rate and passing score
The Series 99 (Operations Professional) is administered by FINRA: 50 + 5 questions in 1 h 30 min, with a passing score of 68%. The fee is $100; prerequisites: SIE.
FINRA has not published a Series 99 pass rate.
Series 3 pass rate and passing score
The Series 3 (National Commodity Futures) is administered by NFA (delivered by FINRA): 120 questions in 2 h 30 min, with a passing score of 70% on each part. The fee is $140; prerequisites: None.
Administered for the National Futures Association. The passing score of 70% applies to each part of the exam.
Practice against the real pass line
ExamPassRate has timed mock exams for the Series 65, Series 66 and Series 7, each scored against that exam's official passing score. Every one starts with a free 10-question pulse check.
Common questions
Does FINRA publish exam pass rates?
Rarely. FINRA disclosed first-time pass rates for the SIE (74%), Series 6 (58–59%), Series 7 (71%) and Series 79 (79–87%) at its 2019 conferences and has not published newer figures. No pass rates have been published for the Series 9, 10, 24, 52, 57, 82, 86, 87 or 99.
Does NASAA publish pass rates for the Series 63, 65 and 66?
No. NASAA owns those exams and has never published pass-rate statistics. Any Series 63, 65 or 66 pass rate you see is an estimate, usually from a prep provider.
What score do you need to pass FINRA exams?
Most FINRA exams require 70%. Exceptions: the Series 7 needs 72%, the Series 79 and 86 need 73%, the Series 87 needs 74% and the Series 99 needs 68%. On the NASAA exams, the Series 63 needs 72% (43 of 60), the Series 65 needs 92 of 130 and the Series 66 needs 73 of 100.
Which exams can you take without a firm sponsor?
The SIE, Series 63, Series 65 and Series 66 can be taken without sponsorship, as can the NFA's Series 3. Most FINRA representative and principal exams require a sponsoring firm.