Free Series 65 Practice
Study for the Series 65 Uniform Investment Adviser Law Examination with free, original practice questions. Focus on economics, investment vehicles, client recommendations, and the laws and ethics that govern investment advisers — with explanations for every answer and a timed exam simulator.
The Series 65 exam qualifies individuals to act as investment adviser representatives (IARs) in many states. Administered by NASAA, it emphasizes fiduciary duty, portfolio and economic concepts, and the regulatory framework that applies to advisory relationships. Sponsorship by a firm is generally not required to sit for it.
This practice site models the Series 65 format with a 130-question length and a 180-minute timed simulation, using a 70% benchmark to indicate a passing-style result. Official passing scores and requirements are set by NASAA and can change, so verify the current details before your exam.
The Series 65 is organized into the following topic areas. You can target any of them individually in practice mode.
Economic indicators, business cycles, financial reporting, and quantitative methods used in analysis.
Open Economic Factors & Business Information study pageEquity, fixed income, pooled investments, derivatives, and insurance-based products.
Open Investment Vehicles study pageClient profiling, portfolio management, taxation, retirement planning, and suitable strategies.
Open Client Recommendations & Strategies study pageFiduciary duty, registration, disclosure, prohibited practices, and ethical obligations of advisers.
Open Laws, Regulations & Ethics study pageCreate a focused Series 65 practice quiz. Target a single topic area or mix everything, and choose a session length that fits your schedule.
Practice your endurance and pacing with the Series 65 timed exam simulator, which mirrors the length and time pressure of a full-length sitting.
A few original example questions. Start a practice quiz for the full experience with answer explanations.
Economic Factors & Business Information
1. Which sequence correctly describes the major phases of a typical business cycle?
Economic Factors & Business Information
2. Which combination of conditions provides the strongest evidence that an economy is entering a recession?
Economic Factors & Business Information
3. During the early part of an economic expansion, which development is most likely?
The Series 65, or Uniform Investment Adviser Law Examination, is a NASAA exam that qualifies individuals to act as investment adviser representatives. It focuses on advisory laws, ethics, economics, and investment strategies.
Generally no. The Series 65 can typically be taken without firm sponsorship, which makes it common for those pursuing investment adviser registration or transitioning into advisory roles.
This site models the Series 65 with 130 questions and a 180-minute time limit. The live exam may include additional unscored questions. Confirm the current format with NASAA.
No. Every question here is original and written for study purposes. This site is not affiliated with NASAA and does not reproduce actual exam content.
Work through category practice to strengthen each topic, use the explanations to close knowledge gaps, then take the timed simulator to build stamina for the full-length exam.
This is an independent educational resource. It is not affiliated with, endorsed by, or sponsored by NASAA. All questions are original and intended for study only, and using this site does not guarantee any outcome on the actual Series 65 exam.