Sunday, January 16, 2011

Series 65 Exam

The Series 65 Exam is not known for changing drastically year-by-year. When something major is changed, NASAA announces it with plenty of lead time. For example, in 2010 they warned everyone early on that the outline was being changed and--worse--the passing score was being bumped up from 68.5% to 72%. This year, we don't see any announcements from NASAA about the Series 65 exam or the Series 66 exam. But, the industry itself is implementing some changes that will start showing up on the exams by the middle of this summer. We won't worry about them much now, but in a few months, the following will be considered testable:
  • federal covered advisers will need $100 million in AUM
  • form ADV Part 2 is changing formats to a narrative (vs. checkbox) form
  • form ADV Part 2 will have a Part A and Part B
  • ADV Part 2B is for disclosure related to IARs working with customer accounts

No comments:

Post a Comment