The Series 65 consists of 140 questions while the Series 66 has110. Both exams include 10 pre-test questions, that could appear in any position within the exam; these questions do not count toward the final score.
The Series 65 tests candidates in economics and analysis, investment vehicles, investment recommendations and strategies, and legal and regulatory guidelines, including unethical business practices.The Series 66 contains many of the topics included on the Series 65, but it does not include the product, analysis and strategy questions that are a large part of the Series 65.
A passing score on the Series 65 Exam is 94 correct answers, or 72 percent. The Series 66 requires a score of 75 percent.
The Series 65 allows applicants 180 minutes to complete the exam. The Series 66 permits applicants to take 150 minutes.
The Series 66 is essentially a combination of Series 63 and Series 65 exams that excludes the product, analysis and strategy questions. These sections are excluded because they are tested as part of the Series 7, which is a prerequisite for taking the Series 66.
The Series 66 requires that candidates first past the Series 7 while the Series 65 does not.