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Uniform Investment Adviser Law Examination — Information & Free Practice

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Uniform Investment Adviser Law Examination

Provider
FINRA
Format
Closed-book multiple-choice examination
Exam questions
Total questions: 140; Scored questions: 130; Unscored questions: 10; The total includes the scored and unscored questions.
Time limit
180 minutes
Passing score
At least 92 of the 130 scored questions answered correctly
Exam fee
$187
Examination outline
  • Economic Factors and Business Information (15%)
    • Basic Economic Concepts
    • Financial Reporting
    • Analytical Methods
    • Types of Risk
  • Investment Vehicle Characteristics (25%)
    • Types and Characteristics of Cash and Cash Equivalents
    • Types of Fixed Income Securities
    • Characteristics and Valuation Factors of Fixed Income Securities
    • Types of Equity Securities
    • Characteristics of Equity Securities
    • Methods Used to Determine the Value of Equity Securities
    • Equity Public Offering
    • Types of Pooled Investments
    • Characteristics of Pooled Investments
    • Types of Derivative Securities
    • Characteristics of Derivative Securities
    • Alternative Investments
    • Insurance Based Products
    • Other Assets
  • Client Investment Recommendations and Strategies (30%)
    • Type of Client
    • Client Profile
    • Capital Market Theory
    • Portfolio Management Strategies, Styles and Techniques
    • Tax Considerations
    • Retirement Plans
    • ERISA Issues
    • Special Types of Accounts
    • Ownership and Estate Planning Techniques
    • Trading Securities
    • Portfolio Performance Measures
  • Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practices (30%)
    • Regulation of Investment Advisers, Including State-Registered and Federal Covered Advisers
    • Regulation of Investment Adviser Representatives
    • Regulation of Broker-Dealers
    • Regulation of Agents of Broker-Dealers
    • Regulation of Securities and Issuers
    • Remedies and Administrative Provisions
    • Communication with Clients and Prospects
    • Ethical Practices and Fiduciary Obligations
Examination sources