General
What is EVEP?
NASAA’s Exam Validity Extension Program (EVEP) provides an opportunity for registered representatives and investment adviser representatives to extend their NASAA qualification exams (Series 63, 65 and 66*) for a period up to five years by opting in to the program(s), paying an annual fee and maintaining certain continuing education requirements.
*The Series 66 exam qualifies individuals in two capacities, as a representative of both a broker-dealer and an investment adviser. To extend both parts of the Series 66 exam, an individual must enroll both Series 63 and Series 65 credits, if applicable.
Who will benefit from the EVEP?
Important: It is possible to enter the EVEP and receive no benefit from your participation. Please read more below.
Registered representatives and investment adviser representatives who opt in to the EVEP can extend the validity of their exams past the standard two years when not registered with a jurisdiction. This will benefit the individual when they reenter the industry and apply for registration in a jurisdiction that has adopted the program. Please note, if the jurisdiction does not participate in the EVEP, your exam extension will not be recognized in that jurisdiction. See a list of participating jurisdictions here.
I entered FINRA’s MQP through the extension program, will I need to complete my learning plan before the 3/31/2024 due date?
Yes. If you entered FINRA’s MQP through the extension program, you may need to complete your learning plan before the 3/31/2024 due date. You will need to complete your learning plan by your Series 63 Current Validity Date which coincides with the two-year termination date of your AG state registration.
My FINRA MQP learning plan is due 3/31/2024. However, I’ve heard that my learning plan is due by my S63 Current Validity Date, which is earlier than 3/31/2024. Which date is correct?
To maintain your enrollment in NASAA’s AG EVEP, you will need to complete your FINRA MQP Learning Plan by your Series 63 Current Validity Date, which is also your two-year AG state termination date. To determine this date, please log into FinPro, navigate to the MQP section and scroll to Currently Enrolled Qualifications. It will be listed as the Current Validity Date for your Series 63.
Will NASAA notify me of my eligibility?
If you have an existing FinPro account and are eligible to join the EVEP, FINRA, on behalf of NASAA, will send an email notification to the personal email address that is provided in your FinPro account profile upon filing of a full U5. However, it is the individual’s responsibility to self-monitor eligibility and compliance with the program.
How can I confirm that my exam qualification is eligible for the EVEP?
In order to confirm that your exam qualification is eligible to enroll in the EVEP, create and login to your FinPro account. You can review and enroll the eligible qualification(s) directly in your FinPro account.
Which exams are covered under the EVEP?
Participation in the IAR EVEP will cover the Series 65 and the Series 65 credit of the Series 66. Participation in the AG EVEP will cover the Series 63 and the Series 63 credit of the Series 66. In order to maintain the validity of both credits of the Series 66, the individual must enroll both the Series 63 credit and Series 65 credit qualifications, pay the fee for each and maintain compliance with each program.
Can I enroll my Series 66 exam in EVEP?
Yes and no. As long as all other eligibility requirements are met, the components of the Series 66 exam can be enrolled in the EVEP as follows. Participation in the IAR EVEP will cover the Series 65 credit of the Series 66. Participation in the AG EVEP will cover the Series 63 credit of the Series 66. In order to maintain the validity of both credits of the Series 66, the individual must enroll both the Series 63 credit and Series 65 credit qualifications, pay the fee for each and maintain compliance with each program.
If I am currently registered as an investment adviser representative and/or a broker-dealer agent, can I enroll in the EVEP to maintain my Series 63, 65 or 66 qualification(s)?
No. If you are currently registered as an investment adviser representative and/or a broker-dealer agent, your exam will remain valid as long as you are registered in that capacity. An individual can only enroll in the EVEP if not currently registered in the applicable capacity.
How do I sign up for the EVEP?
You must create a FinPro account and verify eligibility to sign up for the EVEP. Please see the User Guide and Video Tutorial for help setting up your account.
Which states are participating in the EVEP?
Please visit this page to find a list of participating jurisdictions.
If my home state has not adopted the model rule, can I still join the EVEP?
Yes. If you meet all eligibility requirements to join the EVEP, you can enroll even though your home state has not yet adopted the rule. If a jurisdiction subsequently adopts EVEP while you are enrolled in the EVEP, the jurisdiction will recognize the validity of your exam extension. Please note, if the jurisdiction does not participate in the EVEP at the time you reenter the industry, your exam extension will not be recognized in that jurisdiction. See a list of participating jurisdictions here.
Can I join the EVEP if my exam has already expired?
No. Once your exam has expired, you are no longer eligible to participate in the EVEP. It is not possible for exceptions to be made. This requirement exists by rule and NASAA does not have discretion.
What can I do with my exam while I am keeping it valid in the EVEP?
Extending the validity of your Series 63, 65, or 66 exam does not permit you to act as a registered person. Extending your exam validity simply keeps your exam from expiring for a specified period in order to maintain the exam requirements of state registration.
Is there a fee to join the EVEP?
Yes. There is a $35 annual fee to enroll in each Exam Validity Extension Program. If you opt in to both AG EVEP and IAR EVEP, the annual fee would be $35 each ($70 total).
Why should I enroll in the EVEP?
The EVEP allows industry professionals to maintain their NASAA qualification exam(s) for up to five years by keeping an individual current on continuing education requirements and industry knowledge. When the individual returns to the industry and applies for registration in a state that participates in the EVEP, they will not need to retake the qualification exam(s) which were enrolled in the program to become registered.
For how long are NASAA exams valid if not enrolled in the EVEP?
In the absence of the EVEP, NASAA exams remain valid for two years following the termination of a registration. Upon initially passing an exam, an individual has two years to become registered with a state or the exam expires. Once registered, the exam is valid as long as the person remains registered. Once registration is terminated, the individual has two years to become registered again or the exam expires. An expired exam cannot be reinstated.
I am enrolled in the EVEP but just re-entered the industry. How can I be removed from the program?
Upon reentry into the industry by registering with a state as a broker-dealer agent or investment adviser representative, the associated qualification exam will automatically be removed from the EVEP.
Can NASAA remove me from the program?
NASAA may terminate your right to participate in the EVEP at any time, with or without notice, for conduct that violates NASAA’s Terms of Use.
If I re-enter the industry or end my EVEP enrollment, can I receive a refund?
No. All fees for EVEP enrollments are non-refundable. Once an individual enrolls in the EVEP no refunds will be considered.
If I opt in to the program and my home state later adopts the model rule, will that jurisdiction recognize my extension?
Yes. Individuals must meet the eligibility conditions and adhere to the program requirements in order to remain in the EVEP. Any jurisdiction that adopts the rule and becomes a participating state before the individual leaves the EVEP, will recognize the exam validity extension.
What is an EVEP Credit?
When an individual has enrolled in the EVEP and has complied with the annual requirements, an EVEP Credit will display in the Exam History section of their FinPro account. This EVEP credit indicates the individual has extended the validity of their qualifying exam through participation in the EVEP.
AG EVEP
What are the eligibility requirements to enroll in the AG EVEP?
In order to opt in to the program, an individual must meet certain eligibility requirements. To participate, an individual must (1) have been registered in the terminated registration category for at least one year immediately prior to the termination of that category; (2) elect to participate within two years from the termination of a registration; and (3) must be enrolled and in good standing in FINRA’s MQP. To enroll, an individual must sign in to their FinPro account, follow the prompts to select the qualification(s) they want to maintain and pay the enrollment fee. To maintain their EVEP status, an individual must annually enroll and pay the EVEP fee and complete the applicable continuing education.
What are the continuing education requirements for the AG EVEP?
In order to participate in the AG EVEP to maintain the validity of the Series 63 or Series 63 credit of the Series 66 exam, the individual must also maintain effective participation in FINRA’s MQP program and be in good standing with the MQP continuing education requirements.
I am not enrolled in FINRA’s MQP, can I still join AG EVEP?
No. In order to join AG EVEP, you must also be enrolled and in good standing in FINRA’s MQP.
If I am no longer participating in FINRA’s MQP, how will it impact my qualifications held in NASAA’s AG EVEP?
Enrollment in the AG EVEP is dependent on participation in the MQP. If for any reason, you are no longer participating in FINRA’s MQP you will be removed from NASAA’s AG EVEP.
IAR EVEP
What are the eligibility requirements to enroll in the IAR EVEP?
In order to opt in to the program, an individual must meet certain eligibility requirements. To participate, an individual must (1) have been registered in the terminated registration category for at least one year immediately prior to the termination of that category; (2) elect to participate within two years from the termination of a registration; and (3) must not have an IAR CE deficiency. To enroll, an individual must sign in to their FinPro account, follow the prompts to select the qualification(s) they want to maintain and pay the enrollment fee. To maintain their EVEP status, an individual must enroll and pay the EVEP fee annually and complete the applicable IAR continuing education.
What are the continuing education requirements for the IAR EVEP?
In order to participate in the IAR EVEP to maintain the validity of the Series 65 or Series 65 credit of the Series 66 exam, the individual must complete 12 credits of IAR CE annually (6 credits of Products and Practice and 6 credits of Ethics and Professional Responsibility). A list of approved IAR CE providers can be found here.
Can I enter IAR EVEP with an IAR CE deficiency?
No, an individual cannot enter the IAR EVEP with IAR CE credits past due. If the individual is deficient 12 credits or less of IAR CE, they must complete the deficient CE before being eligible to enter the program. Additionally, if an individual loses their state license/registration because of deficient IAR CE “Terminated No IAR CE” or if their IAR CE status changes to “IAR CE Fail to Renew” during an unregistered period, that individual is prohibited from entering the EVEP.
