Wednesday, March 3, 2010

Took the Series 66 Yesterday

So I took the Series 66 exam yesterday, just for fun. Looked pretty much like the Series 65, only shorter. Bigger focus on the Uniform Securities Act and various NASAA model rules and policy statements. Smaller focus on securities products. As their vague outline indicates, they focus on variable annuities, options, and life insurance under their little "investment vehicle characteristics" section. Expect 5 basic options questions, 5 on variable annuities, and 2 or 3 on insurance. They mentioned "capital needs analysis" twice, which I'm sure will please you insurance folks no end.

The only way I can feel confident that you're prepared is if you get and use the Pass the 66 ExamCram online test prep at www.passthe66.com/exams.htm. If you're on a time crunch, go straight to the "Power Quiz." I will continue to add timely questions to that one, even after you purchase the product.

Also, you will need to be intimately familiar with the following NASAA model rules/policy statements:

http://www.nasaa.org/content/Files/Dishonest_Practices_of_BD_or_Agent.83.pdf

http://www.nasaa.org/content/Files/Interpretive_Order.pdf

http://www.nasaa.org/content/Files/Dishonest_Practices.pdf

http://www.nasaa.org/content/Files/IAUnethical091105.pdf

http://www.nasaa.org/content/Files/IACustodyRules.pdf

http://www.nasaa.org/content/Files/NASAA%20Minimum%20Financial%20Requirements%20for%20Investment%20Advisers.pdf

http://www.nasaa.org/content/Files/Sales_of_Securities_at_Financial_Institutions.pdf

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