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Exams Update – February 6, 2023

NASAA conducts a job analysis study approximately every five to seven years to identify and validate the knowledge and skills measured by NASAA qualification exams.  By incorporating feedback received from industry participants and regulators, the results of the job analysis serve as the basis for exam specifications. NASAA, with the assistance of Prometric and subject matter experts, recently completed this job analysis study of the Series 63, 65, and 66 examinations.

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.

In addition to test specification updates, NASAA will be updating questions on all three exams to align with the Secure Act 2.0.

NASAA will implement these new test specifications and Secure Act 2.0 updates effective June 12, 2023.

You can find the updated test specifications for each of the exams at the links below:

Series 63 Outline  – Effective June 12, 2023.

Series 65 Outline  – Effective June 12, 2023.

Series 66 Outline  – Effective June 12, 2023.

Pre-June 12, 2023 Outlines

Series 63 Outline

Series 65 Outline

Series 66 Outline






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