FINRA & NASAA Reduce Waiting Periods for Retaking Qualification Exams

Updated NASAA Fail Policy: If you fail the exam the 1st or 2nd time you take it, you must wait 30 days before you can take the exam again. If you fail the exam 3 or more times within a 2-year period, you must wait 60 days after the 3rd and subsequent failed attempts.

Impact on Candidates

For candidates, shorter waiting periods may provide more flexibility if an exam attempt doesn't go as planned.

Instead of waiting a full 30 days after a first or second failed attempt, eligible candidates may be able to schedule a retest sooner. This could help candidates maintain momentum and continue progressing toward their registration goals. 

However, a shorter waiting period doesn't necessarily mean a candidate should test again as quickly as possible. Before scheduling a retest, candidates should take time to review their performance, identify knowledge gaps, and focus on the areas that contributed to the unsuccessful attempt.

Read more tips about what to do if you fail: Effective Strategies for Passing your Licensing Exam After a Failure.

Exam success is built on preparation, not simply timing. Candidates should work with their manager, training team, and study resources to determine the most appropriate time to retest based on their readiness and understanding of the material.

What This Means for Organizations

For many firms, licensing timelines directly impact onboarding, productivity, and candidate retention.

The shorter waiting periods may allow candidates who narrowly miss a passing score to return to testing more quickly, potentially helping organizations reduce delays in the licensing process.

At the same time, organizations may want to consider how these accelerated timelines affect remediation and exam readiness strategies. Faster access to a retest can be beneficial, but candidates still need sufficient time to identify and address knowledge gaps.