The Series 65 has several advantages for many individuals. The license can be studied for and the test can be taken independently. It also allows for professionals such as CPA's, Lawyers, Mortgage Brokers and others to offer investment services or refer investment clients to registered brokers for commission sharing.

The Series 65 is comprised of 130 multiple choice test questions. There is a 180 minute time limit, and a 70% grade is needed to pass the exam. The test can be taken at designated NASD testing centers. AIT can provide further information and assist with registration.

Topics for study include: Investment advisor practices, Suitibility, SEC and state regulations, and securities concepts.

The Series 65 test covers topics including:

• Product Education
• Retirement Planning
• Conduct and Business Ethics
• Securities Rules and Regulations

Prerequisite License: None
Questions on Exam : 130
Time to Complete : 180 Minutes
Format : Multiple Choice
Passing Grade: 70%
Availability: Test is given daily (Mon-Sat)
Where: Prometric Centers
Home Study Time: Generally 4 weeks (1-2hrs daily)


Buy the Series 65 Home Study Course from American Investment Training or buy the same course through this page below.

Sample Series 65 Exam Questions

1.   Which business form has a limited life?

a.  S corporation
b.  General partnership
c.  Limited liability company
d.  Sole proprietorship

2.  A portfolio increases in value from $1,000,000 to $1,210,000 over 24 months. The annualized rate of return is:

a.  10.00%
b.  10.50%
c.  11.00%
d.  21.00%

3.  Which security is most affected by interest rate risk?

a.  Common stock
b.  Preferred stock
c.  Treasury bill
d.  Commercial paper

4.  Which investment offers the greatest protection against purchasing power risk?

a.  Long term U. S. government bonds
b.  Long term zero-coupon bonds
c.  Real estate
d.  Investment grade preferred stock

5.  Which statements are true?

I  Strategic portfolio management is the determination of the asset allocation percentages among differing asset classes in the portfolio
II  Strategic portfolio management is the determination of the permitted variance within each asset allocation percentage assigned to a specific asset class
III  Tactical portfolio management is the determination of the asset allocation percentages among differing asset classes in the portfolio
IV  Tactical portfolio management is the determination of the permitted variance within each asset allocation percentage assigned to a specific asset class

a.  I and III
b.  I and IV
c.  II and III
d.  II and IV

6. Which of the following is included in the cash flow analysis performed when determining the current financial status of a customer?

a.  Assets owned by the customer
b.  Liabilities owed by the customer
c.  Equity that the customer has in his or her home
d.  Dividends received by the customer

7.  Income in a revocable trust is taxed at the:

a.  corporate tax rate
b.  trust tax rate
c.  grantor’s tax rate
d.  gift tax rate

8. If market interest rates rise from 6% to 7%, which security’s price would be most adversely affected?

a.  1 year Treasury Bill
b.  5 year Treasury Note
c.  15 year Treasury Bond
d.  15 year Treasury STRIP

9.   Which security would be expected to have the greatest duration?

a.  5 year; 5% coupon bond
b.  5 year; zero-coupon bond
c.  20 year; 6% coupon bond
d.  20 year; zero-coupon bond

10.   Arrange the following in order of the market capitalization (from smallest to largest) of companies included in the index:

I  Standard and Poor’s 500 Index
II  Standard and Poor’s Mid-Cap 400 Index
III  Russell 2000 Index

a.  I, II, III
b.  III, II, I
c.  III, I, II
d.  II, I, III

11.  Value investors:

a.  seek to find investments that are undervalued by the market
b.  determine the value of a security through fundamental analysis
c.  invest in securities included in the Value Line index
d.  make their investment decision based upon the market performance of the security

12. A 401(k) plan is established by a(n):

a.  self-employed individual with contributions based upon the individual’s self employed income
b.  for-profit corporation with contributions made by employees as a salary reduction
c.  not-for-profit organization with contributions made by employees as a salary reduction
d.  government agency with contributions made by the employer on behalf of the employees

Study Material

The Series 65 study material offered by AIT includes: Two Series 65 Books and a CD Test Program. Chapter and final exam course test questions are provided to give exposure to accurate exam questions, that will give the student the best opportunity to pass on the first attempt.

BUY American Investment Training Series 65 Course right here with PayPal (same price)

Series 65 Books and CD - Updated ($220 - same as AIT site)




Recommended Study material.
2 Study Books with over 600 pages, Chapter Exams after each section with detailed Answers.
Over 1300 Practice questions with updated final answers.
Includes 8 simulated Final exams with detailed explanations.
Computer CD Test Simulator - 9 Final Exams from the major topics with detailed answers.
(Windows 95 and higher, includes Vista, XP)