Retaking a Failed FINRA or NASAA Exam: Waiting Periods

FINRA exams: the SIE and the Series 7

FINRA Rule 1210.06 sets the waiting periods for FINRA qualification exams, and they cover the SIE. After a first or second failure you may retake once 30 calendar days have passed since your last attempt. After three or more failures in succession within a two-year period, the wait is 180 calendar days. FINRA's SIE FAQ lists the same periods.

A waiting period applies only to the exam you failed. Failing the SIE does not start a waiting period for the Series 7, and failed attempts more than two years old are not counted (Regulatory Notice 26-18).

What changes on January 19, 2027

Regulatory Notice 26-18 reduces the FINRA waits from 30 to 15 calendar days after the first and second failed attempts, and from 180 to 60 calendar days after the third and later failed attempts within two years. The amendments take effect January 19, 2027.

FINRA says that a retake request submitted on or after that date reflects the shorter wait automatically. A request submitted earlier with no appointment scheduled starts with the old wait and is adjusted on that date. If you already have an appointment, FINRA says it cannot adjust the window without canceling the appointment and will contact affected candidates.

NASAA exams: the Series 63, 65 and 66

The NASAA exam FAQ lists the same pattern for its exams today: 30 days after the first failure, 30 days after the second, and 180 days after the third before a fourth and any later attempt. There is no limit on attempts as long as the waiting periods are met, and each exam has its own waiting period.

NASAA says that starting January 4, 2027 the wait after a third failure drops from 180 days to 60 days; the 30-day periods stay the same. The change applies only to enrollment windows opened on or after that date (NASAA exam FAQ).

Check before you schedule

Waiting periods are set by the exam's owner, and FINRA notes that periods for exams it administers for other organizations may differ. Confirm the current period with FINRA or NASAA when you enroll, and ask your state securities regulator about state registration requirements.

Keep going

• SIE practice questions
• Series 7 practice questions
• Series 65 practice questions
• What it costs to get licensed
• What to do after you pass the SIE