Application Requirements for Investment Adviser Representatives

{Ala. Code § 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 the Following Information:

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

Series 65

94 Raw Score

  • Percentage of Test Points: 72%

Series 63

43 Raw Score

  • Percentage of Test Points: 72%

Series 66

75 Raw Score

  • Percentage of Test Points: 75%

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

Pursuant to Ala. Code § 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.