# WAC 460-20C-040: WAC 460-20C-040. Examination requirements > Washington · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_040 ## Section - **Citation:** WAC 460-20C-040 - **Heading:** WAC 460-20C-040. Examination requirements - **Jurisdiction:** Washington - **Kind:** Regulations - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Washington Administrative Code / Title 460 / Chapter 460-20C / Section 460-20C-040 ## Text (1) Broker-dealers. If you are a broker-dealer registered or required to be registered under RCW 21.20.040 , you must have at least one principal who has passed the Series 24 General Securities Principal Exam. If the principal who took and passed the required examination on your behalf ceases to be your principal, you must promptly update Form BD to identify a substitute principal who has passed the same examination. (2) Salespersons of broker-dealers. (a) In order to register under RCW 21.20.040 as a salesperson of a broker-dealer, you must, unless covered by (b) or (c) of this subsection or otherwise waived by the director, have passed within two years of the date of application: (i) The Series 63 Uniform Securities Agent State Law Examination or the Series 66 Uniform Combined State Law Examination; and (ii) All relevant examinations required by FINRA and accepted by Washington. (b) If you have been registered as a salesperson of a broker-dealer in any state within two years from the date of filing an application for registration, you are not required to retake the examinations in (a) of this subsection to be eligible for registration. (c) If you have not been registered as a salesperson of a broker-dealer in any state for more than two years but less than five years, but were registered as a salesperson in at least one jurisdiction for at least one year immediately preceding the termination of the salesperson registration, and you have elected to participate in the FINRA Maintaining Qualifications Program pursuant to FINRA Rule 1240(c), and your appropriate FINRA qualifying examinations remain valid pursuant to effective participation in the Maintaining Qualifications Program, you are deemed in compliance with the examination requirements set forth in (a)(i) of this subsection as long as you elect to participate in the NASAA Examination Validity Extension Program within two years of the termination of your salesperson registration. d your appropriate FINRA qualifying examinations remain valid pursuant to effective participation in the Maintaining Qualifications Program, you are deemed in compliance with the examination requirements set forth in (a)(i) of this subsection as long as you elect to participate in the NASAA Examination Validity Extension Program within two years of the termination of your salesperson registration. (d) If you have not been registered as a salesperson of a broker-dealer in any state for more than two years but less than five years, but were registered as a salesperson in at least one jurisdiction for at least one year immediately preceding the termination of the salesperson registration, and you have elected to participate in the FINRA Maintaining Qualifications Program pursuant to FINRA Rule 1240(c), and your appropriate FINRA qualifying examinations remain valid pursuant to effective participation in the FINRA Maintaining Qualifications Program, you are deemed in compliance with the examination requirements set forth in (a)(ii) of this subsection. (e) Successful participation in the FINRA Maintaining Qualifications Program does not extend the Series 66 Uniform Combined State Law Examination for purposes of investment adviser representative registration. ## Nearby sections - [WAC 460-20C-010 WAC 460-20C-010. Application of chapter](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_010.md) - [WAC 460-20C-015 WAC 460-20C-015. Cross-reference to other sections relating to broker-dealers and salespersons](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_015.md) - [WAC 460-20C-020 WAC 460-20C-020. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_020.md) - [WAC 460-20C-025 WAC 460-20C-025. Filings made through the Central Registration Depository](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_025.md) - [WAC 460-20C-030 WAC 460-20C-030. Registration procedure](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_030.md) - [WAC 460-20C-035 WAC 460-20C-035. Canadian broker-dealers and salespersons](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_035.md) - [WAC 460-20C-040 WAC 460-20C-040. Examination requirements](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_040.md) - [WAC 460-20C-045 WAC 460-20C-045. Notice of termination of pending applications](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_045.md) - [WAC 460-20C-050 WAC 460-20C-050. Expiration and renewal of registration](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_050.md) - [WAC 460-20C-060 WAC 460-20C-060. Notice of changes by broker-dealers](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_060.md) - [WAC 460-20C-080 WAC 460-20C-080. Mass transfer of salespersons](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_080.md) - [WAC 460-20C-090 WAC 460-20C-090. Termination of broker-dealer registration](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_090.md) - [WAC 460-20C-100 WAC 460-20C-100. Termination of salesperson registration](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_100.md) - [WAC 460-20C-110 WAC 460-20C-110. Minimum net capital requirements for broker-dealers](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_110.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_460_20C_040. Check the current official text before relying on it. Not legal advice.