Having taken the Series 65 exam just two days ago, I am only able to remember the topics that my particular randomly-generated batch of 130 questions brought up. I can't remember any question verbatim, and I'm not sure how much it would help, even if I could. What I can do is tell you that the following represents the kind of topic, level of difficulty, and attitude of a challenging Series 65 or Series 66 exam question:Which of the following investment advisers must indicate that it maintains custody of client assets on Form ADV Part 1?
A. An adviser that receives quarterly management fees directly from the custodian with client consent
B. An adviser who provides a list of unaffiliated custodial firms to its advisory clients free of charge
C. An adviser that is affiliated with a bank, savings institution, or trust company
D. None because advisers indicate such information on Form ADV Part 2 only as a result of Dodd-Frank
Rather than provide the answer right away, let's see if any of you anonymous readers are brave enough to give your answer AND your explanation for choosing it first. Time to make this blog interactive, people.
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