Answer practice questions and get explanations for every answer. The series 65 exam — the nasaa investment advisers law examination — is a north american securities administrators association (nasaa) exam administered by finra.the exam consists of 130 scored questions and 10 unscored questions. 1) which of the following stocks would be considered cyclical? What can you do with a series 65 license? The unscored questions, which are called “pretest” questions, are used by the exam administrators to evaluate questions for future versions of the exam.
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