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If you have been looking for a quality Series 63 prep course to help you study for the test, Varsity Tutors can set you up with a private Series 63 class to help you pursue your professional and academic goals. We are a market leader in finding students of all ages and ability levels the help they need to reach for their potential, so give us a call today to learn more about how we can find you a Series 63 course!

Would A Series 63 Class Near Me Help Me Understand The Test's Purpose?

Series 63, or the Uniform Securities State Law Examination, is a test designed by NASAA (North American Securities Administrators Association) and administered by FINRA (Financial Industry Regulatory Authority) in order to ascertain whether financial professionals have the requisite knowledge of state securities regulations to trade in them. The test focuses on the tenets of Uniform Securities Act, as well as all of the amendments that NASAA has added to it over the years. Basically, this means that the test is about all of the regulations associated with trading securities.

The Series 63 is an entry-level exam, so it has no prerequisites. However, you must earn a Series 6 or Series 7 license in addition to the Series 63 license in order to legally sell securities in most states. Both Series 6 (Investment Company and Variable Contracts Products Representative Qualification Examination) and Series 7 (General Securities Representative Qualification Examination) have separate standardized tests associated with them, so you'll probably need to pass two tests to earn a license. Some individuals also take this test to enhance their resume, though your firm is likely to cover the cost if you need a Series 63 license to perform your professional duties.

At its core, Series 63 measures how well you understand interstate security regulations. Many of these concepts could be described as "common sense," but underestimating it is a great way to ensure that you'll fail. Instead, consider taking a Series 63 prep class to help build your confidence in advance of exam day.

The breakdown of the test is as follows:

Series 63 Exam Format

Question Format

# Questions

Time Allowed

Passing Score

Multiple-Choice

65

75 Minutes

70%

Only 60 of the 65 test items are scored, but you should plan to do your best on all questions since there is no way to tell which items actually count. The Series 63 test may be broken into the following eight sections: Regulation of Investment Advisers (5%), Regulation of Investment Adviser Representatives (5%), Regulation of Broker-Dealers (15%), Regulation of Agents of Broker-Dealers (15%), Regulation of Securities and Issuers (5%), Remedies and Administrative Provisions (10%), Communication with Customers and Prospects (20%), and Ethical Principles and Obligations (25%).

How Can A Series 63 Prep Class Near Me Help Me Study For Each Section On The Test?

Every Series 63 course we can find for you consists of one-on-one tutoring, allowing you to concentrate on your unique areas of need. For example, the first section centers primarily on the definition of an investment advisor, including the difference between federal and state-level certifications. Your instructor may provide a chart allowing you to see the differences at a glance to help streamline your prep during a Series 63 class. The exam's second section is similar, except that the focus is on exactly what an investment adviser representative is. If definitions have never been your strong suit, your instructor may make you flashcards to help you review them in a Series 63 prep class.

The third section of the exam centers on the regulation of broker-dealers, including exactly what a broker-dealer is, the responsibility of broker-dealers to supervise their agents, and the books that must be maintained in order to earn and maintain registration. If you could benefit from a refresher on how to do all of the pertinent paperwork, your instructor might provide practice problems during your Series 63 course to help you feel more comfortable with it.

The fourth section of the test is similar except for the agents of broker-dealers instead of the broker-dealers themselves. As such, your Series 63 class may review the information with you in a similar manner. Your tutor can walk you through the process if you have any questions.

The Series 63's fifth section covers the definition of securities and issuers, state registration requirements, exemptions, and state anti-fraud authorities. That's a lot of material for a section that only averages three questions per exam, and most of it comes down to rote memorization. If you have a hard time recalling facts when you're under the gun, your instructor may help you come up with a mnemonic device during your Series 63 classes to make it seem a little bit easier.

The sixth section deals with the authority of the state securities Administrator, administrative actions, and other penalties and liabilities that financial professionals need to know. Again, this is largely rote memorization. If mnemonic devices aren't your cup of tea, your instructor may repeat the information several times in a row or even have you write it down over and over again during a Series 63 course to help it stick in your mind.

The seventh section of the Series 63 exam concentrates on how to communicate with customers and prospective customers about important topics such as legal disclosures, performance guarantees, customer agreements, and advertising strategies. This can be a challenging topic to consider in the abstract, so you might have sample conversations with your instructor during Series 63 prep courses to help you understand how to say everything you need to say without running afoul of the law.

The test's final section covers ethical obligations such as conflicts of interest, transparent compensation, due diligence, and insider trading. Most of these concepts are fairly straightforward, so your instructor may simply advise you to approach them from a perspective of a regulator and choose the "most right" response if you're ever unsure. Of course, you could go into more detail if you feel the need

Your Series 63 prep course can also help break down the individual topics that the test covers, allowing you to dive deeper into content that is likely to arise on the test. Some topics that are likely to come up include:

  • Investment adviser activities
  • Investment representative activities
  • Broker-Dealer regulations
  • Post-Registration records
  • Securities and issuers
  • Securities exemptions
  • State anti fraud authority
  • Administrative provisions
  • Administrative liabilities
  • Unlawful representations
  • Performance Guarantees
  • Customer agreements
  • Social media correspondence
  • Commissions and markups
  • Custody and trading authorization
  • Market manipulation and ethical practices

Most Series 63 prep classes follow a set curricula, meaning that you might not get to spend enough time on a topic of need while spending too much time on concepts you find easier. In contrast, the Series 63 courses we recommend consist of one-on-one tutoring sessions that allow you to study at your own pace. Working within a private learning environment allows you to spend as much time as you might need to on each of these topics to improve your study efficiency. For instance, if you have a hard time with securities exemptions but understand the prohibitions in place to limit market manipulation, your Series 63 prep courses should probably concentrate on the exemptions.

Your instructor may also be able to design Series 63 prep classes around your individual needs. For instance, they might adopt a lecture format if you are an auditory learner to help information stick in your mind, or provide helpful visual aids if you need to picture something in order to understand it. Both approaches are perfectly valid ways of absorbing information, but generic review classes often choose one or the other and leave students who work best the other way behind.

Most importantly, working with a private tutor allows you to receive individualized attention. Any questions you ask can be answered promptly, as you are your tutor's only pupil during your study sessions. Likewise, all of your work can receive immediate feedback so that you can make any necessary corrections while it is still fresh in your mind. Your tutor may even be able to incorporate your interests into study sessions to make them more engaging.

For example, do you like to play games? Structuring your Series 63 prep course like a game show may make it easier to concentrate on what is often very dry material. Students who are very interested in their test prep may also get more out of it than those who are staring at the clock waiting for a session to end!

Can Series 63 Courses Near Me Help Me Understand The Structure Of The Exam?

Sure! The Series 63 test is a computer-based test administered at testing labs around the country. If you aren't comfortable with the idea of taking an electronic assessment, you might want to take practice exams during your Series 63 course to develop a familiarity with it. It may seem like a small thing, but knowing exactly what to expect on exam day may go a long way toward relieving any test anxiety you may be experiencing.

The testing center will provide you with a basic four-function calculator and dry-erase board to help you work out anything you need to, but these materials must be returned to the center immediately following the conclusion of your exam. Likewise, you are not permitted to bring anything with you into the testing center, including your notes. That means no reviewing your notes while waiting for the test to boot up! If you have any additional questions regarding the test-taking procedure, please feel free to ask your instructor during a Series 63 prep course.

It can be tempting to use the resources above to double-check every answer, but remember that you only have 75 minutes to complete the entire exam. There is no penalty for guessing on the Series 63 test, so it is always to your benefit to answer every question before time expires. Therefore, your tutor may show you time management tips regarding when and how to use the calculator and dry-erase board during your Series 63 classes.

Speaking of time management, completing practice exams under realistic test-taking conditions can help you get a sense of the time available to you. Likewise, you might review your answers after the fact to determine your areas of strength and any topics you might want to pay more attention to during your next Series 63 course.

FINRA exams are notorious for deceptive questions that make financial professional miss items based on relatively simple concepts, and the Series 63 is one of the worst offenders. Completing sample problems during Series 63 courses can give you an idea of what traps you should be on the lookout for. Your tutor may also point out some common pitfalls during your Series 63 prep classes to help you spot them on the actual test.

Since the Series 63 has a multiple-choice format, it's possible that one item contains enough information to help you answer a question you previously had a hard time with. Your tutor may also teach you test-taking strategies to help you deduce a correct answer even if you don't know it for sure.

Are There Any More Benefits Of Series 63 Prep Courses Near Me I Should Know About?

Every Series 63 class we connect you with includes access to our Live Learning Platform, an online classroom where you can meet your instructor face-to-face without worrying about the logistics of arranging an in-person meeting. The quality of instruction is just as good as if you were in the same room thanks to powerful features such as video chat functionality and a virtual whiteboard. We also try to match every student with a qualified instructor who fits into your schedule, as we believe that nobody should need to rearrange their life around Series 63 classes.

If you're ready to learn more about the Series 63 courses Varsity Tutors can find for you, contact us today to get the process started. Knowledgeable Educational Consultants are standing by to answer any questions you may have!

Contact us today to connect with a top Series 63 instructor