Application Requirements for
Investment Adviser Representatives

{Code of Alabama 1975, ยง 8-6-3 and Commission Rule 830-X-3}

  1. Filing Fee: $70.00 per representative through CRD. Please refer to FINRA ( for all applicable systems fees.

  2. File electronically a current and complete Form U-4 | Instructions for each investment adviser representative through CRD.

  3. 830-X-3-.08 - Examination Requirements:

Please Note:  Effective January 1, 2010, the new passing scores for each securities law exam will be as follows:

Test Raw Score Percentage of Test Points
Series 65        94                   72%
Series 63        43                   72%
Series 66        75                   75%

Exam waivers are avilable under limited circumstances and are strictly granted on an individual basis.

Pursuant to Code of Alabama, 1975, Section 8-6-3(j)(8), an applicant may be denied registration if he or she is insolvent. Applicants may be required to submit a current attested balance sheet in order to confirm compliance. Applicants may submit their own completed balance sheet form or complete the attached balance sheet form for submission.