Pass The 66 - 2015: A Plain English Explanation To Help You Pass The Series 66 Exam
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Trying to pass your Series 66 Exam? Pass The 66™ is written with the reader always in mind. This Series 66 exam study guide uses Plain English and concise explanations as it ticks off the items mentioned on the NASAA Series 66 exam outline point-by-point. To reduce your frustration in obtaining your Series 66 license, we try to make sure each sample question in our Pass The 66 Online Practice Question Bank™ is explained within this textbook. In fact, we encourage you to use this study guide while working through the Series 66 sample questions. When you encounter a tough practice question, you can quickly and easily look it up in this textbook in order to come away from the question with a deeper understanding of the topics involved. Remember that the Series 66 license exam is not a memorization test but, rather, a "competency exam.” Too many Series 66 exam candidates go to the testing center expecting to simply recognize a few vocabulary terms when, in fact, passing your test requires you to work with the information at a much deeper level. That's why we explain things in a way you'll both understand and remember at the testing center. It takes more work on our end, but we feel our job is to make things easier on your end. We also take what you learn in the pages of this Series 66 exam study guide to a higher level by presenting you with over 900 challenging questions in our test bank. However, our sample questions are not designed to merely trick you--which most people find discouraging and confusing at best. Rather, our Series 66 sample questions are designed to help you learn the information as you improve your ability to eliminate the incorrect answer choices you will see when taking the Series 66 exam. Be sure to keep a notebook filled with all that you learn from working the questions and reading the helpful explanations that follow. For an extra edge, try writing your own variations of practice questions in this same notebook, something our tutoring clients have found extremely helpful. Pass the 66(c) is your guide to a passing score on the Series 66 exam. This textbook is at the same time in-depth and easy to read. We don't skimp on the details found on the NASAA outline. Rather, we skimp on the filler found in many of the more tedious license exam manuals on the market. To give yourself an edge on this difficult license exam buy this book and then go to www.examzone.com to pick up the practice questions and other Series 66 study materials. This test is not easy. The best time to get started is . . . now.
that FINRA can impose? Trick question—they’ve never set a maximum. They simply have the authority to set fines that seem to fit the violation. What if you were barred from associating with any member firm and fined $250,000? If you didn’t pay the fine, would they come after your house and other possessions? No, but unless you paid that fine they would never let you back into the brokerage industry. They’re not a court of law; they’re just a self-regulatory organization with lots of power over
to buy or sell that contract is a security. So the “December wheat” or “November corn” futures contract is not a security, but the puts and calls traded on those commodities futures contracts are securities. Also, watch out for this: a “single stock futures contract” is considered a security. Oy! If you’ve been reading through any enforcement actions through “contact your regulator” at www.nasaa.org, you have surely seen phrases such as, “The stock referenced in paragraph 6 is a ‘security’ as
of 1933 is a piece of federal legislation, so it’s not surprising that the folks who passed it gave themselves an exemption from the rule. That’s right; US government securities are exempt from this act. They don’t have to be registered in this way. Neither do municipal securities. Charitable organization securities, such as church bonds, are exempt from the act. So are bank securities, which are already regulated by bank regulators. Securities that mature in 270 days or less—commercial paper,
operating on the premises of a bank where retail deposits are taken. Net Worth: The difference between assets and liabilities. New Construction: A type of DPP in which the partnership builds and then sells housing units. New Issue Market: The primary market, where securities are issued to investors with the proceeds going to the issuer of the securities. Initial public offerings (IPOs), for example, take place on the “new issue market.” NHA – New Housing Authority (bonds): Revenue bonds
turned into mortgage-backed securities that are sold to investors. If an investor buys a mortgage-backed security, she receives a monthly check representing both interest and principal being paid by the homeowners whose mortgages are now in the pool. When will all the principal on these mortgages be paid off? Nobody knows for sure, which is why the securities all carry prepayment risk. Prepayment risk is the risk that interest rates will drop, folks will pay off their mortgages by refinancing