If you failed a securities exam recently, your next wait may be shorter than you expect. FINRA and NASAA both changed their retake rules for January 2027, but they didn't change the same things or start on the same date. FINRA's change covers the SIE, the Series 6, 7, 24 and 79, and its other qualification exams, but not exams it runs for other bodies, such as MSRB and NFA exams. NASAA's covers the Series 63, 65 and 66, so if you're sitting one of each you could be on two different waits.
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| After you fail | Today | FINRA exams, from January 19, 2027 | NASAA exams, from January 4, 2027 |
|---|---|---|---|
| First or second time | 30 days | 15 days | 30 days (no change) |
| Third time or later, within two years | 180 days | 60 days | 60 days |
The sources are FINRA Regulatory Notice 26-18 and NASAA's exam FAQ.
Some things work the same way under both. Failures older than two years don't count. The wait applies only to the exam you failed, so a failed SIE doesn't create a wait for the Series 7, and a failed Series 66 doesn't create one for the 63 or 65. Your testing window lasts 120 days, and each attempt means paying the fee again: $100 for the SIE, $395 for the Series 7 and $187 for the Series 65.
If you failed a FINRA exam
FINRA can't shorten a wait before January 19, and its waiting period FAQ says it won't act on requests to do it earlier. A retake you request on or after that date gets the new wait automatically. For one you've already requested, it depends on whether you've booked an appointment.
If you haven't booked, you don't have to do anything, because FINRA moves your window on January 19. FINRA suggests not booking until then, since an appointment locks the window. Its own example is a candidate who fails on January 13, 2027 and requests a retake the next day. After a first or second failure, the window opens February 12 and then moves up to January 28. After a third failure, it opens July 12 and moves up to March 14.
If you've booked, FINRA can't change your window while the appointment stands, and it says it'll contact people in that spot. Your new start date is your failure date plus the new wait, or January 19 if that's already passed, so work that out first. FINRA's FAQ gives two examples of candidates who'd be clear by January 19. One is booked for April 6 and wants to go sooner: they should cancel before January 19, and FINRA updates the window that day so they can book earlier. The other is booked for January 30: they could try for a seat between January 19 and 29, but cancelling could leave them with a later date than the one they gave up. Check test center availability before you cancel, since FINRA can't promise a seat and rescheduling can carry a fee.
If you failed a NASAA exam
NASAA left the 30-day wait alone, so this only matters after a third failure. Its rule turns on when you open the window, and it won't shorten a window you've already opened. A window opened before January 4, 2027 keeps the 180-day wait.
So if your third failure in two years came after about July 8, 2026, hold off on enrolling until January 4, and tell compliance if your firm enrolls you through Form U4. An earlier failure's 180 days end before then, so waiting doesn't help. Say you fail the Series 65 for the third time on November 20, 2026. Open a new window in December and you wait 180 days, which by my count runs to May 19, 2027. Open it on January 4 or later and the wait is 60 days, which by the same count runs out on January 19.
NASAA is also ending remote testing for the Series 63, 65 and 66 on January 4, 2027, so plan on a test center from then on. If you need testing accommodations, NASAA points you to FINRA's accommodations team. If you've got a remote appointment booked for January or later, check on it now.
NASAA also says there's no limit on how many times you can retake one of its exams, as long as you meet the waits.
Should you take the earliest date?
A narrow miss may leave you less to review, but 15 days is only the minimum FINRA sets, and it doesn't tell you you're ready. On the Series 7 you'd be paying $395 to find out. I'd rebook once you've worked through what you missed and fresh timed practice clears the passing score with some room, by topic as well as overall.
The waits above are minimums. Your firm may have its own rules on how soon you can retest or who pays, so ask compliance before you book.
I run FreeFellow, and its question banks for the SIE and the Series 6, 7, 63, 65, 66 and 79 have a step-by-step solution on every question. The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free. It doesn't have a Series 24 bank, but the Series 24 post covers what FINRA tests.