The North American Securities Directors Affiliation is decreasing the passing rating for the Collection 65 examination to 70% from 72% and has up to date the content material of the Collection 63, Collection 65 and Collection 66 exams.
NASAA plans to implement the brand new take a look at specs — together with Safe 2.0 efficient dates — in addition to scoring, beginning June 12.
The take a look at specs updates for every of its exams will assist higher replicate “the information wanted by broker-dealer brokers and funding adviser representatives in at this time’s ever-changing monetary trade,” NASAA mentioned in a press release.
The Monetary Trade Regulatory Authority is NASAA’s vendor for qualification examination administration. The June enhancements to NASAA’s exams don’t have any impression on FINRA or its exams.
After analyzing the brand new take a look at specs to find out what changes are wanted when the brand new specs go into impact, NASAA’s Exams Advisory Committee decided the next:
- The present passing scores will stay the identical for the Collection 63 and Collection 66 exams. ”Presently, to move the Collection 63, candidates should reply 43 of the 60 questions appropriately, and no less than 73 questions out of the 100 on the Collection 66,” NASAA defined.
- The passing rating of the Collection 65 examination “shall be revised to require no less than 92 out of 130 questions are answered appropriately,” the group mentioned. This modification “would decrease the present passing rating from 94 out of 130 and permit for a passing grade of 70%, down from 72%.”
The take a look at specs for every examination have been up to date, NASAA relayed. Nevertheless, the content material of the exams “has not dramatically shifted,” NASAA mentioned.