Free NASAA Series 63 (Uniform Securities Agent State Law Examination) Practice Exam & Questions
The entire NASAA Series 63 question bank is free: 857 practice questions on state securities regulations, investment adviser and broker-dealer registration, remedies, and ethical practices. From FreeFellow, where 'free' is in the brand name. Public samples need no signup. The full original question bank is free with an account, subject to usage limits.
857 questions8 topics2026 syllabus
Built by Jeffrey Ting, FSA, CFA, who passed thirteen of the hardest finance exams on the first attempt. The full question bank and worked solutions are free forever.
Instant readiness score in about 6 minutes. No signup to start.
Sample Questions
Question 1
Easy
A state-registered investment adviser may do all of the following EXCEPT:
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Correct Answer: A
Solution
A is correct. Client assets must be segregated and held with a qualified custodian. Commingling client securities with the firm's own assets and pledging them to secure a firm loan is a prohibited use of customer property. The other three actions are permitted ways to handle client assets and authority.
Question 2
Medium
All of the following constitute prohibited conduct by an agent EXCEPT:
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Correct Answer: C
Solution
C is correct. Recommending a fund whose 12b-1 compensation is disclosed to the client and approved by the firm is permissible because the conflict is disclosed and supervised. Borrowing from a customer who is not a lending institution, selling away from the firm without authorization, and churning are each prohibited practices.
Question 3
Hard
Under the Uniform Securities Act and NASAA model rules, all of the following firm practices are permissible EXCEPT:
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Correct Answer: A
Solution
A is correct. NASAA's Statement of Policy bars an agent from sharing in a customer's account without the written authorization of both the customer and the firm, so sharing without the firm's written approval is prohibited; the further condition that the agent's share match the capital each party contributes comes from FINRA Rule 2150. Delaying a disbursement on a reasonable belief of exploitation, exercising same-day time-and-price discretion, and promptly forwarding a third-party check to the custodian are each permitted.
What Series 63 candidates are saying
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Free practice questions, worked solutions, and written lessons.
The full original question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your Series 63 prep are free forever. Full access requires a free account and is subject to usage limits. No trial period, no credit card. Become a Fellow ($79/qtr) only if you want mock exams, flashcards, analytics, and a personalized study plan.
What's Free, and What Fellow Unlocks
The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Full access requires a free account and is subject to usage limits. Fellow adds mock exams, flashcards, analytics, and a personalized study plan.
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Free forever
$0 · no credit card
857 practice questions with detailed solutions
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking based on practice history
No paywalls on original questions · no trial period · no credit card
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Fellow unlock
$39 / mo · $79 / qtr per track · $199 / yr as Fellow Plus
Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
Personalized study plan that adapts to your exam date
Series 63 uses continuous testing: candidates schedule on demand at a test center rather than waiting for a fixed sitting window. Confirm scheduling details and fees directly with NASAA before registering.
Frequently Asked Questions
How many free Series 63 practice questions does FreeFellow have?
FreeFellow currently offers 857 free Series 63 practice questions across 8 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What Series 63 topics are covered?
The questions cover 8 topics: Regulation of Investment Advisers, Regulation of Investment Adviser Representatives, Regulation of Broker-Dealers, Regulation of Agents of Broker-Dealers, Regulation of Securities and Issuers, and 3 more. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
How many questions are on the Series 63 exam, and how long is it?
The Series 63 delivers 65 multiple-choice questions, of which 60 are scored and 5 are unscored pretest items that do not count toward your result (NASAA). Testing time is 1 hour 15 minutes. FreeFellow's Series 63 practice questions follow this format, and the free mixed practice draws from the full bank.
What is a passing score on the Series 63?
Series 63 is graded at 43 of 60 scored (72%) (NASAA). FreeFellow's readiness score estimates where you sit against that bar from your own practice history, and it is free.
Is FreeFellow really free for Series 63 prep, or is there a catch?
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. The original question bank, worked solutions, written lessons, mixed practice, and readiness score stay free forever. Timed mock exams, spaced-repetition flashcards, AI grading on supported exams (5 attempts a day), performance analytics, and a personalized study plan. Practice and grading usage limits apply.
What does the $79 Fellow tier unlock for Series 63?
Fellow is $39 per month or $79 per quarter, per exam family (USD). Fellow Plus is $49 per month, $99 per quarter, or $199 per year, per exam family (USD). Every annual plan is Fellow Plus. Fellow adds timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else (questions, solutions, lessons) stays free.
How does FreeFellow compare to Kaplan, Knopman, or Securities Training on price?
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. The original question bank, worked solutions, and written lessons stay free forever. Fellow is $39 per month or $79 per quarter, per exam family (USD). See https://freefellow.org/pricing for package prices and coverage.
How should I use FreeFellow to study for Series 63?
Start with topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. If you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
Do I need employer sponsorship to take the Series 63?
No. NASAA Series 65 and Series 63 exams do not require employer sponsorship. You can self-register through FINRA and schedule your exam at a Prometric testing center. This makes them accessible to independent financial advisors and those not yet employed by a firm.
About FreeFellow
Jeffrey Ting
FSA, CFA · Founder
FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who has passed thirteen of the hardest exams in finance, all on his first attempt. He paid four-figure prep fees along the way.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 40 exams with more than 46,000 original practice questions.
01
Cost shouldn't decide who gets in.
A CFA charter, a CPA license, an actuarial credential. Each opens a real career, but prep fees add to the cost of getting there. FreeFellow keeps its original question bank and written lessons free so you can study even if a paid course is out of reach.
02
Free should mean free.
The original question bank, the worked solutions, the topic lessons, mixed practice, and your readiness score stay free, forever. Full access needs a free account, and practice usage limits apply. Fellow adds AI grading on supported exams, spaced-repetition flashcards, full-length mock exams, analytics, and a study plan that adapts to your progress.
All 857 Series 63 questions, worked solutions, and lessons are free. 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.
