Pass the 65: Updated for 2026

The Pass the 65™ Textbook walks you through the items on the NASAA exam outline one by one, step by step, without the typical jargon used in business manuals. Both newcomers and industry veterans will appreciate the simplicity and straightforwardness of our Pass the 65™ Textbook, as well as the logic and analysis dedicated to each section of the Series 65 Exam. It’s a hard test, which is why this book wastes no words in explaining the many items one must understand in order to pass the exam. As NASAA indicates in their FAQ, the Series 65 is not a “memorization exam.” Rather it is a test of competency. That means they test for a deep understanding of the topics covered in this textbook through some rather tough questions. While knowing, for example, the definition of a closed-end fund is important, test takers have to do more than just recognize a standard definition of the investment product. Rather, they must show they understand the differences and similarities between a closed-end fund and an open-end fund, exchange-traded fund, or, maybe, a variable annuity. Read more