Examination Requirement for Investment Adviser Representatives and Sole Proprieter Investment Advisers Under the Arizona Investment Management Act
The Securities Division does not waive compliance with examination requirements.
All sole proprietor investment adviser applicants and investment adviser representative applicants are required to comply with examination requirements under the Arizona Investment Management Act as a condition of licensure [See A.R.S. §§ 44-3153(C)(2) , 44-3156(C)2 and A.A.C. R14-6-204]
Arizona Examination Requirements
The requirements are detailed in A.A.C. Rule14-6-204 available online here. You may satisfy the examination requirements by either passing the listed examinations, or holding in good standing one of the listed professional designations
If you plan to satisfy the requirements by passing the listed examinations, please be advised there is a TIME component with regard to passage of the required examinations. If you passed your examination(s) more than 12 months before applying for licensure, you must retake the examination(s).
If you passed your examination(s) more than 12 months before applying for licensure and the Division can verify that within the two years preceding your application date you were licensed in Arizona or another jurisdiction as an investment adviser representative or sole proprietor, you will not have to retake the examination(s). See A.A.C. R14-6-204(D).