140 total questions
NASAA lists 130 scored questions plus 10 unscored pretest questions.
Free Series 65 practice test
Practice investment adviser law and portfolio advice before paying for prep.
Series 65 prep can get expensive quickly. This free entry page connects you to an original diagnostic with topic scoring, explanations, flashcards, and a study plan for the Uniform Investment Adviser Law Examination.
Official facts
Series 65 details to know before you practice
180 minutes
The exam gives candidates three hours, so pacing and endurance matter more than on shorter state-law exams.
92 correct to pass
NASAA says candidates must correctly answer at least 92 of the 130 scored questions.
Topic weights
What a free Series 65 practice test should cover
Economic factors and business information
Business cycles, monetary and fiscal policy, inflation, yield curves, financial statements, ratios, and risk types.
Investment vehicle characteristics
Cash, bonds, equities, pooled investments, derivatives, alternatives, insurance products, tax features, and risk.
Client recommendations and strategies
Client profile, objectives, risk tolerance, portfolio strategy, asset allocation, taxation, retirement, and suitability.
Laws, regulations, and ethics
Adviser registration, fiduciary duty, disclosure, custody, contracts, records, prohibited practices, and remedies.
Source checked May 25, 2026 against NASAA's Series 65 study guide and FINRA's Series 65 exam page. Free Exam Prep Hub uses original practice questions and is independent and unofficial.
Study path
Use the free diagnostic before committing to a paid bank
Start with weakness mapping
Run the 40-question diagnostic and use the topic score to decide whether your first review block should be products, portfolio advice, or adviser law.
Study the two 30% domains first
Client recommendations and laws/ethics each carry heavy weight, so missed questions there should drive your next drill set.
Stay away from dumps
NASAA exam questions are protected. Use original practice and official-source mapping instead of pages claiming copied or actual exam questions.