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Series 65 Exam Study Guide with Complete Solutions 1. Investment Advisory Representative (IAR) - Answer️️ -1. Upon passing the series 65 the agent may represent an registered investment adviser (RIA) and receive fee based compensation. The fee based compensation may be based on a percentage...

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  • September 25, 2024
  • 52
  • 2024/2025
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

Series 65 Exam Study Guide with
Complete Solutions


1. Investment Advisory Representative (IAR) - Answer✔️✔️-1. Upon passing the series

65 the agent may represent an registered investment adviser (RIA) and receive fee

based compensation. The fee based compensation may be based on a percentage of

the assets under management or as an hourly or flat fee for providing a personalized

financial plan. There are no prerequisites for taking the series 65 exam and the

candidate does not need to be sponsored by a FINRA member firm to take the test.




2. The series 66 is the uniform combined state law exam and qualifies a candidate to

represent both an investment adviser and a broker dealer. After passing the series 66

an agent may receive both fee based compensation for representing an investment

adviser and transition based compensation for executing customer orders. The series

66 is a combination of the series 63 exam and the series 65 exam. Candidates do not

have to be sponsored by a FINRA member firm to take the series 66 exam. However,

the series 7 exam is the co requisite for the series 66 exam and a candidate who has

passed the series 66 exam may not conduct any business until they have passed the

series 7 exam. All candidates must be sponsored to take the series 7 exam. If you have

passed the series 7 exam and have not taken the series 63 exam, the series 66 may be

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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
the right exam to take. Keep in mind that while the series 66 has fewer questions than

the series 65. If you have not passed the series 7 or will not be taking the series 7 exam

you must take the series 65 exam.

the financial effect of making student loan payments for 20 years after graduating from

college can be easily seen - Answer✔️✔️-the financial effect of making student loan

payments for 20 years after graduating from college can be easily seen.



For example, a college graduate who owes $60,000 in student loans at 3% interest will

have to pay $332.76 per month for 20 years to get that paid off. If that amount was

instead diverted into a Roth IRA that grows at 6% for that same time period (with no

further contributions after 20 years), then the student would have almost $600,000 of

tax-free money by age 65. No poll or study is necessary to see the enormous impact

that student loan debt can have on a borrower's retirement preparedness. (For more,

see: Student Loans: What to Do When You Can't Repay Them.)

Certificate of Deposit (CD) - Answer✔️✔️-1. a time deposit at a commercial bank and

insured by the FDIC that restricts holders from withdrawing funds on demand.

2. bears a maturity date ranging from one month to five years at a fixed interest rate and

can be issued in any denomination.

Negotiable Certificates of Deposit (NCD)

(Jumbo CD) - Answer✔️✔️-1. a large certificate of deposit that is typically purchased by

institutional/company investors.


2/52

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
2. Unlike a regular CD, NCDs pay periodic interest, usually twice a year and cannot be

cashed in before reaching maturity, but can be easily sold in the open market before

that time.

3. minimum face value of $100,000, but typically are $1 million or more.

Treasury Bills (T-bills) - Answer✔️✔️-1. short-term securities that mature in 3-months, 6-

months or 1-year.

2. exempt from state and local taxes.

3. purchased at less than par.

4. issued in denominations at $1,000, $5,000, $10,000, $25,000, $50,000, $100,000

and $1 million.

5. all Treasuries are considered to be risk-free (safest investments in the world).

Treasury Notes (T-notes) - Answer✔️✔️-1. a maturity between 1 and 10 years.

2. exempt from state and local taxes.

3. purchased at face value and pay out interest payments semi-annually.

4. bought through a bank or directly from US gov't.

5. can be sold in a large secondary market (liquidity).

Treasury Bond (T-Bond) - Answer✔️✔️-1. a maturity of more than 10 years.

2. exempt from state and local taxes.

3. purchased at face value and pay out interest payments semi-annually.

4. issued with a minimum denomination of $1,000 and maximum of $5 million.

5. After auction, bonds can be sold in the secondary market.


3/52

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
6. bonds can be bought directly from the government through TreasuryDirect at

http://www.treasurydirect.gov, thereby bypassing a broker.

U.S. Savings Bonds - Answer✔️✔️-1. offer a fixed rate of interest over a fixed period of

time.

2. not subject to state or local income taxes.

3. cannot be cashed until at least six months after purchase but maturity varies

somewhere between 15 to 30 years.

4. come in 8 values: $50, $75, $100, $200, $500, $1,000, $5,000, and $10,000.

5. purchased directly from the Dept of the Treasury but can be cashed out at most

banks.

6. must be an American citizen.

Municipal Bonds - Answer✔️✔️-1. are exempt from federal taxes and from most state and

local taxes.

2. issued by a state, municipality or county to finance its capital expenditures (such as

the construction of highways, bridges or schools).

Zero-Coupon Bonds - Answer✔️✔️-a type of bond that makes no coupon payments but

instead is issued at a considerable discount to par value.

Brady Bonds - Answer✔️✔️-1. are U.S. dollar denominated bonds that were issued by

mainly Latin American countries, with U.S. Government 30 year zero coupon bonds

serving

as collateral to ensure payment of the principal.

4/52

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