NASAA Announces Passing Scores Associated with New Exam Test Specifications - June Implementation

Sep 25, 2026

Uploaded by Jacob

NASAA announces planned changes to passing scores and updated content for its Series 63, Series 65, and Series 66 examinations, effective in June. The review process, conducted by the Exams Advisory Committee with Prometric, evaluates scoring and exam content to align with current industry knowledge needs. Series 63 and Series 66 passing scores remain unchanged, while Series 65 is revised to require at least 92 correct answers out of 130. Implementation begins June 12, 2023.

LanguageEnglish

CategoryExam

FormatPDF

Pages2

Reading Time5 min

AccessFree to download

Passing score and test specification updates

Effective date and scope

Series 63 and Series 66 unchanged passing scores

Revised Series 65 passing score

Test specification content changes

NASAA Announces Passing Scores Associated with New Exam Test Specifications Test specifications and scoring changes go into effect in June. WASHINGTON, D.C.–(March 8, 2023)– The North American Securities Administrators Association (NASAA) announced today a planned change to the passing score for its Series 65 examination and updates to the content for the Series 63, Series 65, and Series 66 examinations. NASAA’s Exams Advisory Committee, 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 industry participants and regulators. As a result of this content review, NASAA will be updating the test specifications for each of its examinations to better reflect the knowledge needed by broker-dealer agents and investment adviser representatives in today’s ever-changing financial industry. “This analysis was a detailed process that is extremely important to maintaining the integrity and relevancy of state securities exams. I am pleased with the outcome and look forward to the June implementation,” says Elizabeth Bowling, Chair of NASAA Exams Advisory Committee and Tennessee Department of Commerce and Insurance’s Assistant Commissioner, Securities Division. The committee recently analyzed the new test specifications to determine what adjustments, if any, are needed when the new specifications go into effect. As a result of this work, the current passing scores will remain the same for the Series 63 and Series 66 examinations. Currently, to pass the Series 63, candidates must answer 43 of the 60 questions correctly, and at least 73 questions out of the 100 on the Series 66. The passing score of the Series 65 examination will be revised to require at least 92 out of 130 questions are answered correctly. This change would lower the current passing score from 94 out of 130 and allow for a passing grade of 70 percent, down from 72 percent. The test specifications for each examination have been updated; however, the content of the examinations has not dramatically shifted. New topic areas were added while others were modified or deemphasized. The new test specifications can be found here. NASAA will implement the new test specifications and scoring changes beginning June 12, 2023. – NASAA– About NASAA: Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of the securities regulators in the 50 states, the District of Columbia, Puerto Rico, the U. S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, [visit](visit www.nasaa.org)[ www.nasaa.org](visit www.nasaa.org). For More Information: Fred Baldassaro, Director of Communications [fbaldassaro@nasaa.org](fbaldassaro@nasaa.org | 202-737-0900)[ | 202-737-0900](fbaldassaro@nasaa.org | 202-737-0900) Karen Grajales, Communications and Investor Outreach Manager [kgrajales@nasaa.org](kgrajales@nasaa.org | 202-737-0900)[ | 202-737-0900](kgrajales@nasaa.org | 202-737-0900)

FAQs

When do the new NASAA test specifications and scoring changes take effect?

They take effect beginning June 12, 2023.

What are the current passing score requirements for Series 63 and Series 66?

Series 63 requires 43 of 60 questions correct, and Series 66 requires at least 73 of 100 correct.

How is the passing score for the Series 65 examination changing?

Series 65 will require at least 92 of 130 correct answers, revising the prior requirement from 94 of 130.

Did the exam content change significantly with the updated specifications?

No dramatic shift occurred; new topic areas were added and others were modified or deemphasized.

Sep 25, 2026

Uploaded by Jacob