NASAA recently completed its periodic review and content update of the Series 63, 65, and 66 examinations. NASAA, with the assistance of Prometric, a leading test development company, undertook a more than year-long review of each examination’s content and scoring, incorporating the feedback received by more than 1,000 industry participants and regulators. As a result of this content review, NASAA has updated the test specifications for each of its examinations to better reflect the skills and knowledge needed by broker-dealer agents and investment adviser representatives in today’s ever-changing financial industry.

While the test specifications for each examination have been updated, the content of the examinations has not dramatically shifted. Instead, some new topic areas were added, while others were modified or deemphasized.

NASAA will implement these new test specifications and scoring changes on July 1, 2016.

Below is a link to a brief summary of the changes made to the content and scoring of each examination. The summary is not intended as a comprehensive annotation of all of the changes made to the test specifications. The full test specifications are included in the summary for your reference.