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If you feel that your Series 63 test prep could benefit from some expert assistance, Varsity Tutors can place you in a private Series 63 course to help you pursue your academic and professional potential. We are a leader in the Series 63 prep space because we allow students of all ability levels to study at their own pace rather than trying to force them into a particular box.

What Are The Benefits of Series 63 Test Preparation Near Me?

Formal Series 63 prep allows students to build a deeper understanding of every facet of the exam. The Series 63, or Uniform Securities State Law Examination, is designed by NASAA (North American Securities Administrators Association) and administered by FINRA (Financial Industry Regulatory Authority) in order to ascertain whether financial professionals understand the regulations pertaining to the trade of state securities. In order to sell investment products such as unit investment trusts, variable annuities, or mutual funds, candidates must first qualify by passing this test and earning the associated Series 63 license.

Since Series 63 is an entry-level test, there are no prerequisites to being able to sit down for it. However, a Series 63 license is not enough to legally trade securities. Financial professionals also need to pass either the Series 6 (Investment Company and Variable Contracts Products Representative Qualification Examination) or Series 7 (General Securities Representative Qualification Exam) in order to legally buy and sell securities. Both of these other tests carry prerequisites, so you may want to ask your knowledgeable Series 63 tutor for more info on which exams you need to take in order to land your dream job.

The content of the Series 63 exam centers on the Uniform Securities Act of 1956, as well as each of the amendments the NASAA has added to it in the intervening years. Essentially, you can view Series 63 as the state law test for broker-dealer representatives. The table below defines all eight of the exam's "job functions," or sections in layman's terms:

Series 63 Exam Breakdown

Section

Percentage of Exam

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%

Ethical Practices and Obligations

25%

Trying to study all of that information at once can feel intimidating, but private Series 63 test prep booked through Varsity Tutors can help you study at your own pace, section by section.

How Can Series 63 Tutoring Near Me Help Me Prepare For Each Section On The Test?

Function 1 of the Series 63 exam centers on the definition of "investment adviser," including the differences between advisers certified at the state level and those with federal coverage. If you're looking for a quick and easy way to visualize the differences, your Series 63 tutor may give you a table highlighting the most important information to review during your Series 63 prep. Function 2 is quite comparable, except that it defines the role of an "investment adviser representative" instead of an investment adviser. Both of these sections only have three questions each on the average exam, so it's unlikely that you'll need to spend much Series 63 test prep time here.

Function 3 is the first "real" section of the test, comprising 15% of a test-taker's final score. It covers topics such as the definition of a "broker-dealer," their registration maintenance requirements, and their obligation to supervise all of the agents working on their behalf. Most of this material needs to be memorized, so you might spend Series 63 test prep sessions listening to your private tutor repeat the information over and over again until it starts to stick. Alternatively, you might write the information repeatedly so that it becomes second-nature.

Function 4 is similar to Function 3, except about the agents of broker-dealers instead of the broker-dealers themselves. Bookkeeping and registration maintenance requirements are the principal topic in this section, so your instructor may provide practice problems for you to complete during your Series 63 prep to help you get a feel for it.

Function 5 only represents 5% of your total score, but it covers several important topics such as the definitions of "securities" and "issuers," state registration requirements, exemptions, and state anti-fraud authorities. Don't let the relative brevity of this section prevent you from asking questions about it during your Series 63 prep!

Function 6 highlights the power wielded by state securities Administrators, including the Administrative actions available to them and other penalties and liabilities financial professionals need to be aware of. Again, this largely boils down to rote memorization. If the repetitions recommended above aren't working for you, you might work with your tutor to come up with a mnemonic device during your Series 63 preparation to make this information easier to recall on test day.

Function 7 details how financial professionals are expected to communicate with both current clients and prospective customers. This can be a challenging topic to consider in the abstract, so you might wish to consider roleplaying with your Series 63 tutor during your Series 63 prep and get an idea of what it's like.

For example, your instructor might pretend to be a new customer that you brought to your firm. You can explain why you are a good choice to manage their assets while making sure to incorporate all necessary disclosures and performance guarantees into your sales pitch. When the session is over, you can review what your tutor liked about your conversation as well as anything that you might need to refine before working with actual clients.

Finally, Function 8 deals with issues such as cybersecurity, data protection, the prohibition on loans to and from your customers, and other common sense ethical obligations. None of the material in this section is especially dense, but there is a lot of it. Your Series 63 test prep can go over it item by item if there is anything you do not understand.

Some students may not find it beneficial to work on their Series 63 prep by job function, instead concentrating on the concepts prevalent on the test. While large Series 63 classes are likely to anchor themselves to the syllabus above, private Series 63 tutoring allows you to spend however long you might need to on a particular concept.

For instance, you can study the prohibitions against market manipulation during your Series 63 test prep until you feel confident enough to move on, no matter how important the syllabus says that the topic actually is. Likewise, there is no need to dwell on insider trading if you already have a comprehensive understanding of it.

Taking a private Series 63 class also allows you to receive personalized attention. You are your instructor's only student during your Series 63 prep, allowing all of your work to receive prompt attention. Any mistakes you made can be corrected while the material remains fresh in your mind, allowing you to learn from them in a way you might not have been able to with a substantial delay. Similarly, any misunderstandings can be addressed on the spot to ensure that they cannot spiral out of control.

Private Series 63 courses also foster a productive learning environment. For example, the personal rapport established over the course of your Series 63 prep may make it easier for you to ask questions as they arise. Your instructor can also take the time to understand your unique needs. If you are an auditory learner, your tutor may design Series 63 test prep sessions with a Q&A discussion format to complement your natural learning style. Alternatively, a more practical learner might get more out of Series 63 classes if they incorporate real-world examples to illustrate otherwise abstract concepts. There are many ways to approach Series 63 test prep, but one of them is likely to work better for you than the others. Why should you compromise on the efficacy of your Series 63 class?

A private tutor may even be able to incorporate your interests into your Series 63 prep to make sessions more engaging. For example, a student who enjoys games may approach practice questions like a game show, perhaps with some kind of prize if they answer several in a row correctly. Students who are actively engaged in what they are doing tend to get more out of Series 63 test preparation, so it doesn't have to be all work all the time!

Could A Series 63 Course Near Me Help Me With The Structure Of The Test?

Of course! The Series 63 exam consists of a total of 65 questions (60 of which are scored) over a testing session lasting 75 minutes. There is no penalty for guessing on the test, so all students should plan to at least attempt every question. This means that time management is an important consideration in any Series 63 test prep course.

One proven way to improve your time management is to incorporate practice exams into your Series 63 courses. The best way to get a sense of what the time available to you feels like is to experience it for yourself. If your instructor times you during a Series 63 class, you'll know whether you need to pick up the pace or can afford to spend more time on each question.

Practice exams also provide an opportunity to familiarize yourself with the directions before your testing date, allowing you to dive right in instead of wasting time reading them. If you aren't comfortable with digital assessments, gaining some hands-on experience with the test's electronic interface during your Series 63 prep may also prove beneficial.

The exam is administered at testing labs around the country, where you will be provided with a basic four-function calculator and a dry-erase board to use as scrap paper. Double-checking every answer with these resources may be tempting, but you probably don't have enough time to use them on every question. Instead, your tutor might show you when and how to optimize these resources during your Series 63 preparation.

Should you get stuck on a question, it might be best to just take a guess and move on. Your Series 63 preparation may include test-taking strategies to help you eliminate some of the incorrect answer choices, giving your guess a reasonable chance of being correct. Your tutor may also show you how to leverage the test against itself by using the information provided in one item to answer another. This might not be the most important thing taught in Series 63 classes, but it could help you get a jolt of self-confidence when you need it most!

FINRA tests are notorious for wording questions in a manner designed to confuse test-takers, and the Series 63 is one of the reasons why. You will want to answer some practice problems as part of your Series 63 prep so that you know what pitfalls you need to watch out for. Similarly, your knowledgeable tutor may be able to leverage what they know to point out common errors so that you can concentrate on avoiding them during your Series 63 test preparation.

Why Should I Book Series 63 Courses Near Me Through Varsity Tutors?

Great question! We try to match every student who comes to us to Series 63 tutoring services that fit into their schedule. We believe that your Series 63 course should fit into your life, not the other way around!

Likewise, our proprietary Live Learning Platform allows for all of your Series 63 test prep to take place online. Video chat functionality and a virtual whiteboard ensure that your Series 63 test prep is just as effective as it would be if you met your instructor in person, without the inconvenient commute typically associated with Series 63 prep!

If you would like to learn more about the services we offer or are ready to take your Series 63 test prep to the next level, contact us today for more information! Varsity Tutors takes great pride in helping as many students as possible strive toward academic and professional success!

Contact us today to connect with a top Series 63 instructor