In June there are Series 66 Exam changes coming. In today’s post we cover what you can expect, and how best to prepare.
Series 66 Exam Changes Coming…What Announcement?
The North American Securities Administrators Association (NASAA) has announced that effective June 12, 2023 there will be exam updates. Specifically, these exam updates are meant to align with the Secure Act 2.0 signed into law at the end of 2022.
It seems that, similar to some of the changes made to the Series 86 Exam this year, survey feedback has prompted another change to other exams. Specifically the Series 66, Series 63, and Series 65 exams will be updated in the next couple weeks.
There is an update to the content broken down on the NASAA website. If you don’t want to read all of their information, we have the short version: The content is pretty much the same.
A lot of the focus is still on agents and broker-dealers, investment, advisors and investment advisor representatives, as well as rules around exemptions, such as exempt transaction and exempt securities.
So What’s New?
Aside from minor changes to the content, there has been some confusion around the passing scores. The only change to the passing score appears to be for the Series 65 exam. The passing score for the Series 63 Exam and the Series 66 Exam will continue to be the same.
The Series 65 Exam on the other hand will only require a passing score of 92 out of 130 questions, as opposed to 94 out of 130 questions previously.
As reiterated on the NASAA press release on March 8, 2023, there will not be a dramatic difference between the exams before and after the change.
For our students at Professional Exam Tutoring, also not a lot will change. The same instruction and tips still apply before June 12 and after June 12, 2023.
If you have any questions, or want some more clarity on these changes, feel free to reach out. In the meantime, continue studying as if there have been no changes to the exam, because the material from which you were originally studying is likely still exactly relevant. Good luck!