The North American Securities Administrators Association has updated the Series 63, 65 and 66 exams to test the knowledge of broker-dealer and investment advisor reps on cybersecurity, social media and data protection issues.
NASAA reviews exams each year and adds new questions based on test specifications. The last significant update to the exam specifications was in 2010.
During the latest update, NASAA members worked with Prometric, a leading test development company, for more than a year reviewing the content and scoring of each exam. During the review process, the group received feedback from more than 1,000 industry participants and securities regulators.
The new specifications become effective July 1.
Two new topic areas were added to the Series 63 exam, highlighting the importance of advertising and correspondence, including social media, and cybersecurity and data protection.
However, the number of items on the Series 63 remains unchanged, as does the passing score.
The Series 65 also includes new testing questions on social media cybersecurity and data protection, but also custody obligations as well as anti-money laundering.