The Uniform Combined State Law Examination also called the Series 66 exam is designed to qualify candidates as both securities agents and investment adviser representatives in the United States.
It was developed by North American Securities Administrators Association (NASAA) and operated by the Financial Industry Regulatory Authority (FINRA).
Upon completion of the examination, the score for each section and the overall test score will be processed by Financial Industry Regulatory Authority headquarters and made available to the candidate's sponsor.
A score of at least 73% on the Series 66 exam is needed to pass and become eligible for registration as a Registered Investment Adviser Representative.
Prior to July 1, 2016, candidates had to attain scores of 75% in order to pass and prior to January 1, 2010, candidates had to attain scores of 71% in order to pass.