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Exam Code : Series66
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Questions and Answers : 251 Q & A
Updated On : July 18, 2018
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Business-Tests Series66 Exam (NASD Series 66) Detailed Information

Series 66 Exam: Uniform Combined State Law
An exam administered by the North American Securities Administrators Association (NASAA). Successful completion of the Series 66 exam is equivalent to the successful completion of both the Series 63 and Series 65 exams. It is required by certain states in America, (in addition to successful completion of the Series 7) in order for an investment professional to qualify for registration as an Investment Advisor Representative and as a securities agent representing a broker dealer.
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Series 66 Online Study Guide
Pass the Series 66 Exam and become a registered investment advisor representative with our Free Online Study Guide - Click Here
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Start Your Series 66 Exam
Time Limit: 2 hours and 30 minutes
Cost: $145
Number of Questions: 100, plus 10 "pre-test" questions
Passing Score: 75%
Format: Multiple Choice
Prerequisites: Successful completion of the Series 7 must occur before registration for the Series 66 exam.
Exam Date(s): Any day of the week, excluding Sundays
Exam Locations: Find an exam center in your state here. Complete information about your appropriate testing center, admittance requirements and exam administration will be included with the enrollment confirmation form mailed to you.
1. Quantitative Methods
2. Measuring Portfolio Returns
3. Analyzing Your Client's Financial Profile
4. Special Issues for Retirement Plans
5. Portfolio Risks
6. Portfolio Management Strategies, Styles and Techniques
7. Foundation for Regulatory Issues
8. Regulation of Investment Advisors and Investment Advisor Representatives
9. Regulation of Broker-dealers
10. Regulation of Sales Representatives (Agents)
6.1 Introduction
6.2 Asset Allocation and Strategic vs. Tactical Asset Allocation
6.3 Diversification
6.4 Portfolio Styles: Active vs. Passive
Series 66

What is the 'Series 66'
Series 66 is an exam administered by the Financial Industry Regulatory Authority (FINRA). Successful completion of the Series 66 exam is equivalent to successful completion of both the Series 63 and Series 65 exams. The Series 66, also known as the North American Securities Administrators Association (NASAA) Uniform Combined State Law Examination, was created to qualify candidates as both securities agents and investment advisor representatives.
The FINRA Series 7 exam must also be passed along with the Series 66. Either exam may be passed first, but both exams must be completed before applying to register with any particular state. The Series 66 was designed to cover topics deemed necessary to provide investment advice.
Series 66 Exam Structure
The Series 66 examination contents include 100 multiple-choice questions that are scored and 10 pretest questions that are not scored. Candidates have a maximum time of 150 minutes to complete the examination. To obtain a passing score, a candidate must correctly answer 75 of the 100 questions that are scored. The exam administrator provides electronic calculators for candidates to use, and these are the only calculators allowed in the exam room. A dry-erase marker and whiteboard are provided. No study or reference materials of any kind are permitted in the examination room, and there are harsh penalties for anyone caught cheating or attempting to cheat. An individual's employer can register a candidate for the exam by filing either a Form U4 or Form U-10 and paying the $155 examination fee.
Series 66 Exam Content
The NASAA updates information on the exam's content and posts it online. As of May 2016, the exam questions are allocated as follows:
• Economic factors and business information (5%) - This section includes questions on financial reporting (such as financial ratios, SEC filings and annual reports), quantitative methods (such as internal rate of return and net present value), and types of risk (such as market, interest rate, inflation, political, liquidity and other risks).
• Investment vehicle characteristics (15%) - Questions in this section include, but are not limited to: methods used to value fixed-income securities, types and characteristics of derivative securities, alternative investments, and insurance-based products.
• Client investment recommendations and strategies (30%) - Questions in this section include, but are not limited to: types of clients (including individuals, business, trusts and estates), client profiling (including financial goals, current financial status and risk tolerance), capital market theory, portfolio management strategies, tax considerations, retirement planning, trading accounts, and performance measurement.
• Laws, regulations and guidelines, including prohibition on unethical business practices (50%) - This section includes state and federal securities acts along with related rules and regulations, ethical practices, and fiduciary obligations.
Series 66 - Uniform Combined State Law Examination
The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA.
The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions.
There is no prerequisite for the Series 66 examination. However, the Series 7 examination is a co-requisite to the Series 66 Examination.
For additional information about this exam, including the content outline, please visit the exams page on the NASAA website.
Series 66 Study Guide
The Uniform Combined State Law Examination was developed by NASAA based on industry requests. The examination (also called the “Series 66”) is designed to qualify candidates as both securities agents and investment adviser representatives. The exam covers topics that have been determined to be necessary to provide investment advice and effect securities transactions for clients. The examination consists of 100 multiple-choice questions and 10 pretest questions. Applicants are allowed 150 minutes to complete the examination.
The examination is conducted as a closed-book test. Upon completion of the examination, the score for each section and the overall test score will immediately be made available to the candidate.
The examination is administered by the FINRA. The fee for taking the examination is $155. To schedule a candidate for examination, a firm should file an electronic Form U4 or an individual should file a Form U-10 and pay the fee.
Once registered, FINRA will open a 120-day window within which an individual may schedule the exam. Form U10 and more information on sites to take the exams can be found on the FINRA website.
The questions in the examination, the weighing of the composite examination, the examination study outline, and the method by which the examination is administered have been designed by Chauncey Group International for NASAA and approved by NASAA and the Competency Exam Project Group. In addition, each examination question is statistically analyzed to insure reliability.
Any attempt to compromise the examination may serve to destroy its validity and usefulness. Therefore, NASAA intends to bring appropriate action against persons who attempt to compromise the examination in whole or in part. In addition, such conduct may subject a candidate to further action by state administrators.
Successful completion of the Uniform Combined State Law Examination does not relieve a candidate of the personal responsibility to know and to abide by the specific requirements of the securities laws and regulations of the states in which the candidate transacts business. Furthermore, although successful completion of the examination may satisfy a portion of the requirements of a particular state, it does not convey the right to transact business prior to being granted a license or registration by that state. NASAA believes that the Uniform Combined State Law Examination will significantly benefit the industry and state regulators alike by such uniformity. The investing public will be afforded a greater degree of protection through enhanced uniform qualification standards.
Please note, the FINRA Series 7 is a corequisite exam that needs to be successfully completed in addition to the Series 66 exam before a candidate can apply to register with a state. You may take either exam first but must complete both satisfactorily.

Series66 Questions and Answers

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Series66 NASD Series 66

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Finra asks listening to panel to sanction look at various cheater | Real Questions and Pass4sure dumps

The economic business Regulatory Authority's enforcement department has requested a Finra hearing panel to impose sanctions against former broking service Jason David for cheating on his collection 66 examination.

The Finra enforcement branch referred to that Mr. David, who became affiliated with countrywide Planning Corp. from October 2016 to may also 2017, when the enterprise approved him to resign, had consulted an exam-prep ebook all through an unscheduled break in the examine, then back and changed a couple of of his solutions. the use of a analyze ebook during an examination violates Finra rules, the firm stated.

Mr. David took the examination in December, 2016 in Chicago. The closed-ebook examination schedules no breaks, however check-takers may additionally request a wreck totally for the goal of the use of the restroom. all over his smash, Mr. David went to a locker where he had positioned the verify ebook and consulted it, Finra said.

After failing that test, Mr. David took an extra collection sixty six exam in February 2017. He once again took a bathroom smash and consulted a test guide that he kept in a coat locker. He handed the 2d examination.

considering resigning, Mr. David has not labored within the securities business.

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fiscal Careers without a university degree | Real Questions and Pass4sure dumps

while many universities advertise the surprising careers their graduates land after completing a finance degree, the actuality is that many financial careers don't require you to move through faculty first. Credentials like on-the-job journey and licenses can also be a whole lot more critical.

SEE: for those who Add A Securities License To Your Repertoire?

monetary AdvisorChike Uzoka, founder and CEO of Valentine international, is a major illustration of easy methods to land a monetary career devoid of a university diploma. His career all started when he joined long island lifestyles assurance enterprise with the aid of first acquiring his FINRA (then NASD) sequence 6 and series 7 licenses, in addition to becoming licensed as an coverage agent. at last, Uzoka moved to Merrill Lynch as a fiscal advisor, a position that did not require a university diploma. He did want an additional license, the FINRA sequence sixty six license. each licensing exam required quite a lot of discovering, but Uzoka changed into capable of use practice checks and different look at substances to put together for the assessments.

Enrolled AgentIf you're concentrated on careers that will let you study on the job, fitting an enrolled agent with the IRS can be one of the crucial premier alternatives to accept as true with. Enrolled agents have the identical standing in working with the IRS on taxes as a CPA and even an attorney. There are two paths to incomes the enrolled agent credential: that you would be able to either work for the IRS (in a particular section) for 5 years or you can sit down for an exam administered by way of the IRS this is intended to demonstrate journey. There are a lot of different careers involving taxes that don't require college degrees as neatly, together with tax training.

loan OfficerBanking has its fair proportion of careers value considering that. Many personal loan officers birth out with a high college diploma and circulate up with on-the-job working towards. Employers are likely to search for previous journey with lending or banking for such positions, but it surely depends on the establishment. as a result of federal law enacted in 2011, personal loan officers are required to have licenses, which in turn, require 20 hours of coursework and a written examination. personal loan officers have many alternatives for advancement all through banking agencies, providing a direction to many other financial positions.

insurance UnderwriterSimilarly, many coverage professional enter the industry through becoming an coverage underwriter. Most coverage underwriters beginning as trainees or assistants, learning the ropes on the job, so incomes a university degree first is not sensible. It can be helpful for advancement, but because continuing schooling is required for a lot of of the certifications used within the coverage industry, you will possible locate that more particular courses offered by business businesses are greater valuable for a career in assurance.

AccountingThere are a large choice of accounting positions that may provide you with a start. Many accountants birth as bookkeepers or accounting clerks and build on that event to earn accounting positions. Employers are likely to supply option to accountants with at the least some college, but supplied you meet certain requirements, school isn't required. you are going to discover the equal condition with positions regarding accounting, such as charge estimating or credit score management. There are plenty of distinct credentials involving accounting, a few of which require a college degree for completion.

The bottom LineIt is essential to word that you simply may well be competing with school graduates for many monetary positions, even if or not a level is essential for the job. That shouldn't stop you from going after such jobs, however's a incontrovertible fact that you should be privy to so that you should build a competitive edge. supplied you're committed to working in a monetary field, you can build a career with plenty of jobs, no matter no matter if college you intend on going to faculty or not.

SEE: adventure Or education: Which One Lands You The Job?

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Series66 NASD Series 66

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FNB personnel earn promotions | real questions and Pass4sure dumps

Russell Kassin

IRON MOUNTAIN – five employees have earned promotions to a number of degrees of vp at the start country wide financial institution & have confidence, executives at the bank announced.

these promoted include:

— Russell Kassin becomes senior vp and chief lending officer, chargeable for overseeing all lending features at the bank in addition to constructing new commercial and residential mortgage business.

Kassin graduated from Northern Michigan school with a degree in personal finance, besides graduating from the Graduate faculty of Banking on the university of Wisconsin. He has received series 7 and series sixty six fitness and life coverage licenses and the licensed economic Planner designation. He up to now labored with Lincoln financial and Wells Fargo and has been with First countrywide bank & have confidence for six years.

He has been active within the group as an executive board member of the Dickinson area Chamber Alliance, chairman of the Dickinson enviornment economic development Alliance, Junior success board member and teacher, Kiwanis member and previous president, plus additionally serves on the boards for Care Free Dental and Iron Mountain road and path, the Bay faculty West Advisory Board and the St. Mary and St. Joseph Catholic Church finance council. moreover, he's an active member of the Iron Mountain Dad’s Hockey League.

James Moln

— James Moln is the brand new senior vp and chief working officer, directing deposit and department operations in addition to serving because the financial institution’s human useful resource director.

Moln has been with the bank for the reason that 1994, starting as a branch manager. He changed into promoted to assistant vp in 1998 and started working with department administration and human components. He transitioned to vice chairman in 1999, then took on operations in 2005. He changed into promoted in 2015 to senior vp, human materials, branch administration, operations, and department supervisor.

Moln graduated from NMU with a bachelor’s degree in business administration. He accomplished the Graduate school of Banking on the tuition of Wisconsin in Madison, and additionally accomplished the faculty’s superior human useful resource administration software. he's a graduate as neatly of the familiar lending faculty on the Robert M. Perry schools of Banking at significant Michigan university. he's a member of St. Mary’s Catholic Church in Norway and also serves on the church’s Finance Council.

— Matthew Lutz has been increased to vice president, chief economic officer, answerable for all internal and exterior financial reporting, for establishing and putting into action the organization’s economic suggestions, and for managing the financial institution’s credit chance branch.

Lutz earned his undergraduate diploma in economics and management from Albion college, in addition to a grasp of science in accounting from Marquette university and is an authorized public accountant, or CPA. He has been accepted into the monetary Managers faculty in order to beginning this fall.

Matthew Lutz

He has worked for Baker Tilly Virchow Krause in Chicago as a tax associate and Leaf, Dahl and company as a senior accountant.

Lutz all started at the start national bank & believe in 2014 as a credit analyst, then turned into promoted to controller in 2016.

he's worried with a number of non-income neighborhood companies, serving on the boards for the Dickinson enviornment Chamber Alliance, Mountain View Ice enviornment and as treasurer of the Iron Mountain road and path Half-Marathon. he is a member of yank Martyrs Catholic Church, Michigan association of CPAs, American Institute of CPAs and economic Managers Society. He additionally serves on a lot of scholarship committees, in addition to being lively with many local sports organizations, including the Dad’s Hockey League and the Iron Mountain-Kingsford adult League Soccer.

— Marty Fox can be vice president, retail lending, focusing on personal loan and purchaser lending. he'll address developing and servicing purchaser loans, together with auto, residential loan loans and unsecured very own loans.

Fox has been with the financial institution in view that 1984 and is a graduate of NMU’s faculty of Banking and Northeast Wisconsin Technical college. He has been a member of the Dickinson beginner Hockey association, the Iron Mountain-Kingsford Lions membership and St. Mary’s Queen of Peace Catholic Church.

Marty Fox

— Lisa Bosley is the new assistant vice president, retail lending, focusing on residential precise estate lending. she will aid consumers in applying for mortgage loans in addition to buyer loans and different economic capabilities.

Bosley joined the financial institution in 1993. before that, she spent four years working in the fiscal services trade with First of the united states financial institution. She is a member of the Zonta club of Iron Mountain-Kingsford and the American Martyrs Catholic Church.

“The contributions of these personnel play an important position in shaping a vivid future for First national bank and trust, besides their contributions to our neighborhood in a lot of management roles,” mentioned David Kashian, president and CEO of First country wide. “They also illustrate the quantity of talent within the bank and we are proud to admire their contributions to our enterprise’s success with these promotions.”

Chartered in 1887, First countrywide financial institution & trust is among the oldest and greatest independently owned banks within the upper Peninsula. It has eight areas in Iron Mountain, Kingsford, Menominee and Iron River, in addition to have faith & Wealth management functions in Marquette.

Lisa Bosley

Negotiating A Six-figure profits Helped This 35-yr-old repay $forty,000 In Debt | real questions and Pass4sure dumps

Age: 35Current area: NYCCurrent trade & Title: economic features Compliance OfficerStarting salary: $28,500Current income: $159,000 ($a hundred and forty,000 base plus annual bonus)variety of Years Employed: 13Biggest earnings start: $21,500Biggest profits Drop: NoneBiggest profits regret: not negotiating revenue early on in my profession and not taking my profession seriously for many years.most excellent earnings-related assistance: "are trying to negotiate! i used to be timid and always had the attitude of i'm fortunate to ought to this offer as an alternative of, This job is fortunate to have me. Over time, that has a big impact in your revenue. Your next job will seemingly base your new compensation for your previous revenue (despite the fact some states have handed legislation prohibiting prospective employers from asking your current earnings in order to close the gender wage gap). That apply certainly impacted me; new employers are once in a while simplest willing to raise your latest profits through a undeniable percentage, perpetuating an underpaid popularity. additionally, have a transparent imaginative and prescient of the place you are looking to emerge as. I had no plan for a long time and that negatively impacted my income because of now not in the hunt for out more desirable alternatives and last complacent."ideal career assistance: "stay in touch with historic coworkers and meet them for lunch or drinks should you can. send well wishes on vacation trips (i am massive on the happy New 12 months text.) Over time, you're going to set up a superb network as a result of people eventually move on to new roles and might doubtlessly refer you for a place sooner or later — or vice versa. You might also also want them as a reference and also you do not want to ask a choose of a person you not ever speak to. or not it's also incredible to have people for your industry that you would be able to leap ideas off or ask what their business does to handle a selected challenge. in case you work at a larger company, network with individuals inside as well as outside of your department. do not be afraid to ask senior people to lunch. I've noticed that americans who're 'universal' at work (all the time having lunch with diverse individuals, be aware of each person) are more likely to get placed on high-profile tasks or are the first to be regarded for brand spanking new roles."

UNCLE credit Union adds new *CFS financial consultant to wealth management division | real questions and Pass4sure dumps

LIVERMORE, CA (June 12, 2018) — UNCLE credit score Union is comfortable to announce they've hired a new monetary guide for his or her wealth administration division. Briand Kitchens, an funding representative registered via broking service dealer and Registered funding Adviser CUSO financial features, LP (CFS), makes a speciality of assisting consumers manipulate the financial dynamics associated with protecting, growing to be and transferring wealth to the next technology.

Briand has talents in featuring investment services and suggestions to each families and agencies. ahead of becoming a member of UNCLE credit score Union, Kitchens served as an investment guide representative at MassMutual. He holds a bachelor’s diploma in communications from Missouri State institution and has his California existence and health license, Finra sequence 7 and collection sixty six licenses.

“We gladly welcome Briand to UNCLE credit score Union,” talked about Harold Roundtree, president and CEO. “He brings advanced skill and journey to our investment branch in an effort to proceed to give proper tier wealth administration functions to our individuals.”

apart from proposing fiscal planning and investment functions, UNCLE credit score Union additionally presents consumer, home and auto loans, deposit features and online banking functions.

For additional info, please name 925-315-2920 or visit on-line at

About UNCLE credit Union

centered in 1957, UNCLE credit Union is an over $433 million, full-carrier financial institution serving more than 26,500 participants.  The company presents the advantages of credit score union membership and a full array of monetary services to any one who lives, works, worships, or attends school in Alameda, Contra Costa, San Joaquin and Stanislaus counties. contributors can now entry seven UNCLE fiscal facilities discovered within the communities of Pleasanton, Livermore, Tracy and Stockton, along with an further 5,000 branches and pretty much 30,000 ATMs attainable via participation within the CO-OP Shared Branching network. UNCLE credit Union is popular for its group involvement, skilled and personalized service and unwavering commitment to assisting members obtain their financial desires. To be taught more, talk over with

About CUSO fiscal capabilities, LP and Sorrento Pacific financial LLC

Full-provider, sister broker dealers CUSO monetary services, L.P. (CFS) and Sorrento Pacific financial LLC (SPF) (members FINRA/SIPC) provide custom-made investment and coverage options to economic associations during the nation. Headquartered in San Diego, with department workplaces and licensed representatives nationwide, both broking service dealers are SEC Registered funding Advisers, with expertise in key areas together with retirement capabilities, wealth administration, and payment-based mostly and assurance products for both individuals and company customers.  For more suggestions, see or


UNCLE credit score Union

2100 Las Positas Ct

Livermore, California

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