Series 7 vs Series 65: the facts
| Series 7 | Series 65 | |
|---|---|---|
| Official name | General Securities Representative Exam | Uniform Investment Adviser Law Exam |
| Owner | FINRA | NASAA exam administered by FINRA |
| Scored questions | 125 (+5 unscored) | 130 (+10 unscored) |
| Time | 3 hr 45 min | 3 hr |
| To pass | 72 (scaled) | 92 of 130 correct (about 71%) |
| Exam fee | $395 | $187 |
| Sponsor required | Yes | No |
| Prerequisite | Firm sponsorship; SIE is a co-requisite for registration | None |
| Online testing | Test center; online only with an approved accommodation | Test center; NASAA allows online testing only by accommodation |
| Our prep (12 months) | $119 | $99 |
What each one lets you do
Brokers are regulated under Reg BI and FINRA rules; advisers under the Investment Advisers Act and state law with a fiduciary standard. Many advisors hold both (usually as SIE + 7 + 66).
Which should you take?
| If... | Take |
|---|---|
| You want to work at an RIA, fee-only | Series 65. |
| You want to work at a broker-dealer | SIE + Series 7 (+ 63). |
| Both | SIE + 7 + 66. |
Cost of each path (exam fees)
| Path | Note | Fees |
|---|---|---|
| Series 65 only | $187 | |
| SIE + 7 + 63 | $642 | |
| SIE + 7 + 66 | $672 |
Not sure?
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Outline-weighted original questions with explanations, section drills and timed full-length exams. $99 one-time, 12 months, free access extension until you pass.
Frequently asked questions
Which is harder, the Series 7 or 65?
The Series 7 runs longer (3 hr 45 min vs 3 hr) and is heavier on product math such as options and margin. The 65 has slightly more scored questions (130 vs 125) and more economics, law and ethics.
Can I take the Series 65 without a sponsor?
Yes. NASAA lets unsponsored candidates enroll through FINRA’s TESS system.
Sources
- FINRA - Series 7 General Securities Representative Exam (accessed 2026-09-23)
- FINRA - Series 65 Uniform Investment Adviser Law Exam (accessed 2026-09-23)
- NASAA - Exam FAQs (accessed 2026-09-23)
- SEC - Regulation Best Interest (accessed 2026-09-23)