Series 65 Study Guide + Question Bank

Series 65 Study Guide + Question Bank (Online)

Prep for the NASAA Series 65 - Uniform Investment Adviser Law Exam with 1,230+ exam-style questions, chapter quizzes, mini exams, and full-length practice finals. Self-paced online prep covering investment adviser law, ethics, client strategies, investment vehicles, and economic factors.

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Instant digital access • Mobile + desktop friendly • Progress tracking • Built for exam-style testing

What you get with the Series 65 Study Guide

  • 1,230+ exam-style practice questions across the full Series 65 outline
  • 23 chapters mapped to the NASAA Series 65 content outline
  • 69 chapter quizzes - Learn (10 Qs), Apply (10 Qs), and Master (10 Qs) for every chapter
  • 3 Mini Exams (50 questions each) for timed practice
  • 3 full-length Final Practice Exams (130 questions each) matching exam length and structure
  • Heavy coverage of laws, regulations, and ethics plus client recommendations (60% of the exam combined)
  • Full coverage of investment vehicles and economic factors
  • Progress tracking by chapter and difficulty to target weak areas fast
  • Clear explanations focused on what NASAA actually tests
  • Self-paced online prep, mobile + desktop friendly

Results from real students

Screenshots shared by Exam Bootcamp students.

Series 65 pass result

What you'll study

Organized to match how the Series 65 is structured - economics and products first, then client strategies, with heavy focus on investment adviser law, fiduciary duty, and ethics.

Function 1 - 15% (20 questions)

Economic Factors and Business Information

  • Monetary & fiscal policy, economic indicators, business cycles
  • Financial reporting & accounting fundamentals
  • Quantitative methods / time value of money
  • Types of risk - systematic, unsystematic, inflation, interest rate, credit, liquidity

Function 2 - 25% (32 questions)

Investment Vehicle Characteristics

  • Cash & equivalents
  • Fixed income & valuation - YTM, YTC, duration concepts
  • Equities & equity valuation
  • Pooled investments - mutual funds, ETFs, UITs, REITs
  • Derivatives & alternatives
  • Insurance-based products - annuities, life

Function 3 - 30% (39 questions)

Client Investment Recommendations and Strategies

  • Individuals, business entities & trusts
  • Client profiles - goals, risk tolerance, time horizon
  • Capital market theory - CAPM, MPT, EMH
  • Portfolio management styles, strategies & techniques
  • Tax considerations
  • Retirement & estate planning, ERISA
  • Special accounts
  • Trading, exchanges & markets
  • Performance measurement

Function 4 - 30% (39 questions)

Laws, Regulations and Guidelines (incl. Prohibited Practices)

  • Investment Advisers Act & state law
  • IA / IAR registration, Form ADV
  • Federal vs. state (covered advisers)
  • USA definitions & exemptions
  • State Administrator authority & remedies
  • Fiduciary duty, custody, soft dollars, performance fees
  • Ethical practices, insider trading, market manipulation
  • AML/BSA/privacy/cybersecurity
  • NASAA Model Acts & Statements of Policy

What students say

The investment adviser law material is dense, but the Learn / Apply / Master structure made it manageable. I knew exactly where I was strong and where I needed work.

— Morgan T.

The practice questions felt close to the real exam, especially on fiduciary duty and prohibited practices. Walked in confident and passed.

— Devin K.

I didn't have the Series 7 and didn't want to take it. The 65 was the right path and this guide covered exactly what I needed.

— Priya R.

Clear explanations on the tricky USA definitions and Form ADV stuff. The chapter quizzes kept me honest about what I actually knew.

— Sam L.

GET INSTANT ACCESS

Series 65 Study Guide + Question Bank

$94.99

  • Includes: Online study material + 1,230+ question bank + 3 mini exams + 3 full-length practice finals
  • Access: 6 month access to the study material
  • Start studying immediately after purchase - no waiting.
Get Instant AccessSee what's included

Frequently asked questions

  • You'll have access for 6 months starting immediately after purchase.

About the Series 65 - Uniform Investment Adviser Law Exam

Exam format (official):

  • 130 scored questions (plus 10 unscored pretest questions) = 140 total
  • 180 minutes
  • Passing score: 92 of 130 (~71%)
  • No corequisite
  • Administered by FINRA on behalf of NASAA

Core topics (official weighting):

  • Function 1 - Economic Factors and Business Information - 15% (20 questions)
  • Function 2 - Investment Vehicle Characteristics - 25% (32 questions)
  • Function 3 - Client Investment Recommendations and Strategies - 30% (39 questions)
  • Function 4 - Laws, Regulations, and Guidelines (incl. Prohibited Practices) - 30% (39 questions)

For the official exam outline, scheduling details, and registration through FINRA, see the FINRA Series 65 exam page.

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