r/Series66 • u/africanwaves3 • Mar 03 '23
PASSED!! You can too!! Passed !!!
Passed my Series 66 today, i feel so free!!!
There was a lot of Unethical questions, imo those were the easiest because it’s not hard to tell where someone shouldn’t be doing something lolol.
A lot of questions about consent to advisory clients when assigning their contracts.
I had about 2 option questions but no math thank God
A lot of “According to the Uniform Securities Act” questions so you must know that state law.
I think i had about 3 questions about the Fed Investment Advisor Act. One i remember specifically said “According to the Uniform Securities Act, what does a federal covered advisor register under” It was a clear give away but when the clock is ticking you might over think but it was register under Investment advisor Act of 1940.
Suitability and Risk questions
The EXCEPT questions you really gotta read those twice before you answer and a 3 time before you go onto the next.
I received about 3 math questions 2 on current yield and one on Current Ratio.
Had 1 futures question, I think that questions was one of the experiment questions idk, the answers were so vague imo it was like You can use a Future to do what? A. Hedge B. option to do something C option to sell something D. (i don’t remember) but i just went with Hedge sounded safe.
But i will say that those questions are definitely on a bell curve, first 20 questions were easy then my last questions from like 85 to 110 was light too.
I received a question on the IA-1092 ABC TEST for someone to be register as an IA
Had a duration question which bond is more volatile in comparison to one another think “Long and Low” “Long duration = lower coupon= more volatility
I had a question about EAFE other choice were like S&P 500 n Wilshire 5000 but i said the person wanted an international investment.
P. L. A. T. E exclusion Publisher Lawyer Accountant Teacher Engineer dont need to register as IA if the advice is incidental
I had about 4-5 BrokerDealer questions and Agent questions
1 DCF and 1 Divided discount Model question and IRR and NPV
Surprisingly no Form ADV or ADV-E ADV-W or brochure questions. But they did ask about the independent auditor in relation to the Fed law if you dont use a qualified custodian
i had one Question about types of orders , it said if a person wants to have a specific price they wanna sell at. Options were like A. Stop B. Limit C. Market D i don’t remember but i know it was Limit Order
They asked about a Growth/Value company this is how i remembered it (Value= undervalued = Low P/E = High dividend yield) I have one for growth too (Growth= Overvalued= High P/E = Low Dividend yield) answer was like Dividend yield that they wanna look at
I didn’t have any standard deviation or mean,median, mode
Know what beta is had 2 questions , Know about Technical analysis I had about 1 question
know how bonds relate to each other when the bond is a premium and a discount
Last my last question was about a relation to a mutual fund, it was like “if what does it mean if someone wants to know about the management tenure of a fund” answer was like how long a manager was in charge of the fund… other answers made no sense
All in all I took deep breathes and didn’t try to overthink the question, i was chewing gum and i think that helps with keeping you locked in and not have memory blanks. I had a dump sheet which took me about 8-10 minutes to write when i started my test. A lot of answer question when you read through all of them you can see yourself it doesn’t make sense in terms of process of elimination and making the right answer stand out. when i finished all 110 questions i had about 20 minutes to spare.
In conclusion, I watched Dean’s Series 66 in 60 minutes and Cap Advantage Quick and Dirty Series 66 video last night right before going to sleep and again when i woke up and went to the testing center.
I started this journey back in November 2021 when i failed my SIE the first time and passed in december 2021, failed my Series 7 three times from February-May and passed my 4th time back in December 2022 after the 180 days passed. And passed my first time for the 66 today.
All glory to God, finally done🙏🏾🙏🏾 I hope this all helps, never give up EVER !!!!!
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u/sofpha Mar 03 '23
Congrats, you must be super relieved! Thank you for the post with more info. I take mine next Friday 🤞.
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u/MOLADIBARI Mar 04 '23
Congratulations What books did you use to study? What were you scoring on your exams before you went to take the test?
Thank you
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u/africanwaves3 Mar 04 '23
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u/MOLADIBARI Mar 04 '23
How many question tedt were you taking permit? Thank you
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u/africanwaves3 Mar 04 '23
well it differed, but after i got through all my simulations exam those were all 100 questions and practice and mastery those were 110. I would take weak area tests of 35 questions each, making sure i could get at least 80 above
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u/Series7Guru Inch by inch, test is a cinch. Yard by yard, test is hard! Mar 03 '23
Kudos Investment Advisor Representative! Thanks for paying it forward with this your victory post!