The Series 65 is another path to becoming an Investment Advisor Representative (IAR)
Sometimes called the IAR in a box
Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement

The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor. What is the Series 65 Exam

When taking the Series 65 to join an RIA firm as a IAR, candidates must complete the exam within 180 minutes. A passing score is 72%, which translates to correctly answering 94 of the 130 scored questions. The Financial Industry Regulatory Authority, which administers the exam, does not release Series 65 pass rates. But this is a TOUGH exam, many people do not pass on the first try.

The test covers financial industry regulation, securities law, ethics, investments and economics. All these topics factor into a financial advisor’s day-to-day work. Most candidates devote considerable time to studying for the Series 65.

Different States have different requirements in become an Investment Advisor Representative (IAR) so check your states department of securities licensing to find out its requirements.

The Series 65 Exam vs Series 66 Exam?

What is the Series 65 Exam? The Series 65 exam is designed for those who do not have a Series 7 license. The content of both exams (65 and 66) are similar though the Series 65 will be more heavily concentrated on Investment products and economics (like you would need to learn for the SIE and Series 7 Exam). … The Series 66 exam has a little more State law (such as what you will find in the Series 63 Exam) and some esoteric investment products.

For additional information you may also wish to check out:

The Series 66 Podcast website

Series 65 Podcast website

Series 7 Podcast website

SIE Podcast website

Insurance Exam Podcast

A good article on the Series 65 Exam can be found HERE
https://money.usnews.com/financial-advisors/articles/getting-your-series-65-license-to-become-an-ria