Just want to say, I recently retook my S66 exam and successfully passed it, your videos helped a ton! thank you so much for posting out this awesome free content with your personal breakdowns 👏🏽
Thank you!!! I just passed my 66 and you had a whole lot to do with it! Thank you for your dedication to providing us with all of the wonderful material and knowledge! Your videos are amazing! Keep up the great work!
Thank you Dean!!!! You really helped me with my 7 & 66! You really make it easier to understand. I love the full testexplications as well as the refresher videos the day of testing! Keep on!!!
Deannnn! This video helped me soo much! You helped me with 3 exams and I am so happy to have found you. Thank you so much for sharing your knowledge and giving so much of your time! 🙏🙌🎉
Kudos Investment Advisor Representative! You certainly earned all your testing victories. You are dedicated, disciplined, and organized in the execution of your study plans. It is a honor to have made a contribution to your testing victories.
Shouldn't the answer to 48 (49:40 Trustees as fiduciary) be A? My test prep said that you should take into consideration the beneficiaries while acting in accordance with the investment philosophy stated in the trust agreement.
Hey Dean, thanks for all you do. Passed the 66 first try yesterday! I'm not sure if this is the test explication that had the sofa as an asset but I did see that question on my exam and It made me smile and relax a little bit. Thanks again!
Question #88 per STC material "an agent may share in the profits and losses in a client’s account if the sharing arrangement is approved in writing by the customer and the agent’s broker-dealer."
Dean, I wanted to thank you so much for all of your help, you have no idea how instrumental you’ve been in helping myself and other test takers, I am so grateful for all of your support, would you please be so kind as to do a third test explication? I hope something wonderful happens for you and your family
For Question 39, at 42:08, Money market, why isn't the answer a CD? Wouldn't a CD provide a better source of income than a Money Market fund with similar levels of preservation of capital?
Sitting for my 66 this morning, hoping for the same result as the 7! Thank you for all of this amazing content as always, Dean. Extremely helpful, and hopefully will help me pass this one first go!
Key word I'm guessing for question 59 is unsolicited, meaning the client placed the order through the bank, so she would have to register in that state..if it was just solicited by the bank then no register is necessary..I'm pretty sure that is what that means...you've helped me out a bunch, love your content
Got the quick sheet thanks to you and just wanted to say the answer key for 48 says A. and the following explanation points toward B. Figured I’d put that here. And also thanks for your explications, they’ve really helped!
Questions like 46 where it says “agent of B/D” keeps getting me messed up. Testing on Saturday. Any videos you recommend to help clearing things up on registration. I have Brian’s paid supplement as well
Hey Dean, maybe you can help me with 39. I thought based off of my Kaplan book page 362, that "An 83 year old widower explains that is he is risk-averse and wishes to find an investment that will provide him with preservation of capital. Which of the following would you recommend?" The correct answer is B. Bank Insured CD's. Then it goes on to explain "The exam has two answers for preservation of capital. The strongest is Bank Insured CD's. Followed by Money Market Fund" So why are you saying money market in this video? Thanks for all the help Dean! You're the man.
I say money market funds can be redeemed at any time for an NAV of $1. That is not true of a CD. It is not my question. It is a TestGeek question. Feel free to reach out to Brian. There is a link on the channel.
Me again!! I am reading straight out of my textbook that the USA does not consider a bona fide pledge or loan a sale. Why does the answer to #41 include it?
Hi Dean. Question 39, why isn't the answer a CD? Is the interest from the CD not considered income? I would think a CD provides better preservation of capital and higher return than a Money Market.
@@Series7Guru I had the same thought. Doesn't weak form says that past pricing/trends cannot be used to predict future prices? Strong form says all public/private/past information is already reflected in stock prices and proper asset allocation is the only way to outperform.
@@mikemcnichol6321 you can take it up with Brian Lee, the TestGeek. There is a link on the channel. Doesn't matter because the actual test it will be strong form and recommend an index fund.
@testgeekexamprepllc4548 Brian, could you chip in here --- this is a point of confusion and it appears the answer to question 49 is "Weak Form." I'm looking at other sources (investopedia, etc.) --- could you please explain the rational behind 49 being C, "Strong Form?" Please and Thank you.
9:17 dude, how am I still missing efficient market hypothesis questions?? I thought weak was no technical analysis, room for fundamental. Semi strong was no fundamental or technical, but room for insider. And strong was nothing works. How would 6 be semi-strong then?
Hey Dean, Question 47 you said even if the index based annuity had dropped 15% the client is still guaranteed a positive return of 2% in this example. That 2% however isn't subjected to the 80% participation rate, correct? The client would still receive 2%; not 2% x 80% participation rate?
Just to clarify: Do IARs that work for a fed covered IA need to register in the state they have an office in AND their principal office state or just the state where the IAR is located?
@@davidcynkin6264 no. An agent of a broker/dealer registration is based on the state in which they have a retail client of that state. The broker/dealer's registration is any state they have an office and/or a retail client.
@@Series7Guru ok great thank you. So for Question 21 on test geek: wouldn’t the answer be A (1 & 2) since the IA is fed covered, the IAR wouldn’t have to register in the IA main office state or the visiting state?
@@davidcynkin6264 21. B. An IAR of a federally covered IA need be registered only in the state of the IA’s home office (or any other office the IAR may work from - which does not apply in this question).
Dean, For question 6, why is it semi - strong? I have in my notes that fundamental analysis works for Weak form, but only insider information will work for semi-strong. If it's based on company financials, that's fundamental analysis right?
Sorry for another question. But question 49, why couldn't it be semi - strong if fundamental and technical analysis don't work for semi - strong, only insider information? Why does it have to be strong form? I am starting to get confused.
Thank you for all the content! I received a 91 on this exam. 82 on my last pass perfect final, 77 on my last Kaplan final and a 70 on a mastery exam. This is my third try at the 66. Should I be worried with those scores?
@@Series7Guru If he travels to see 6+ clients in who live the state, he has to register in the state, no? Regardless of if he has a place of business there.
@@Series7Guru nevermind from question 65 "de minimus does not apply to federally covered IAs"..I honestly don't think that's made clear in the kaplin book. Thanks!
Your content is so helpful, and helped me to pass the Series 7 several weeks ago. I take my Series 66 in a week, and I am so frustrated with my practice results since they are all over the place. On one exam, I'll score in the 80s, but in the next exam, I'm in the 60s. It doesn't seem to be any single chapter or concept that is tripping me up, either, since I do well on all of the individual chapter quizzes during my reviews. I'm worried and frustrated. Do you have any tips on how I can combat this?
Good morning Dean, my test is coming up on Wednesday! I got an 80 on this test one question for you on #69 why is a trustee of an irrevocable trust not considered in the exempt transaction category? Thanks! Do you have a live stream this Tuesday?
@@Series7Guru I guess the confusion we are having is that the federal covered IA is not subject to register in the state, but the IAR that has a place of business would. Is that correct? I put B for question 23 as well
My pleasure. Excited that my collaboration with TestGeek gets my viewers and subscribers more free great content like this and a 20% discount on TestGeek paid supplements.
How do these questions compare to studying for the 65? I see a new 65 explication coming out tomorrow but in reviewing this explication, it seems to mirror a lot of similar topics.
Hey Dean, I got a 73 on this, the majority of my wrong answer are in the 50,60s,70s on registration/regulations which I think I can improve on, I test in two days ,do you think I have a chance
In the same boat here, scored a 72. Test on Tuesday. I noticed most of my wrong answers were in the 50’s 60’s & 70’s with a few in the 20’s and 30’s. I did find this exam to be extremely difficult compared to PP/Kaplan. But I also do understand Brian is trying to replicate the “legal” terminology and confuse us. How did you do on the real exam? It’s so hard to know where I’m at in terms of preparation with this because I feel like I understand a topic and end up getting a question wrong on that topic that’s worded much differently from previous questions. The 7 was much easier IMO in terms of preparation and understanding concepts.
Hi Dean. Thanks for a great explication! I used Kaplan for my studies and received an 82% on the first practice exam, a 78% on the mastery (I found the mastery exam to be ridiculously difficult), and an 80 on this. Should I feel confident about my scores? I take my 66 tomorrow.
@@Series7Guru Passed the 66! Even with a tough roll I was able to pass, and a big part of that was your videos. I will be taking my LAH next week then I will be finished. I will not be unsubscribing, I enjoy your content too much!
Hey Dean! Thanks for posting this, as always great work on your end! I know you have a Kaplan Series 66 Class coming up soon, how can I sign up for it? I already purchased the Kaplan Q Bank for the same. Let me know! thanks!
www.testgeekexamprep.com/ 20% discount code for TestGeek is Guru20 th-cam.com/video/D9GqBl1qYrw/w-d-xo.html Series 66 TestGeek Intro
Just want to say, I recently retook my S66 exam and successfully passed it, your videos helped a ton! thank you so much for posting out this awesome free content with your personal breakdowns 👏🏽
Kudos on slaying your Series 66 dragon. Always very gratifying when my videos contribute to test taking victories like yours.
Thank you!!! I just passed my 66 and you had a whole lot to do with it! Thank you for your dedication to providing us with all of the wonderful material and knowledge! Your videos are amazing! Keep up the great work!
Kudos Investment Advisor Representative!
Passed the 66 this morning on my first try thanks to your content. Thank you for all that you do! Staying subscribed.
Kudos on completing your testing/registration hat trick! Thanks for staying subscribed.
Thank you Dean!!!! You really helped me with my 7 & 66! You really make it easier to understand. I love the full testexplications as well as the refresher videos the day of testing! Keep on!!!
Kudos on your testing victories!
Always very gratifying when my channel contributes to test taking victories like yours.
This has really helped me organize details in my head! Thank you! TEST IS TOMORROW!! :)
Sending you good test vibes!!!
Did you pass? I swear I passed the 7 cause of Dean and Brian. Taking the 66 in a few weeks!
for question 52 regarding IRR, I though the answer would be the IRR given if your ROR is lower than the IRR your NPV would be greater than 0.
Deannnn! This video helped me soo much! You helped me with 3 exams and I am so happy to have found you. Thank you so much for sharing your knowledge and giving so much of your time! 🙏🙌🎉
Kudos Investment Advisor Representative!
You certainly earned all your testing victories. You are dedicated, disciplined, and organized in the execution of your study plans.
It is a honor to have made a contribution to your testing victories.
Shouldn't the answer to 48 (49:40 Trustees as fiduciary) be A? My test prep said that you should take into consideration the beneficiaries while acting in accordance with the investment philosophy stated in the trust agreement.
Take it up with TestGeek.
Hey Dean, thanks for all you do. Passed the 66 first try yesterday! I'm not sure if this is the test explication that had the sofa as an asset but I did see that question on my exam and It made me smile and relax a little bit. Thanks again!
Kudos Investment Advisor Representative! Sofa stupid best testable. Lol.
I am getting back to take my second shot on my series 66, just bought Brian's video and used the promo code. Thank you so much for sharing that:)
Your testing victory will taste sweeter after your initial misfortune.
Keep em coming
Thanks so much for making it easy and fun
So many finra tests so much to learn:)
De nada.
Testing tomorrow. Your 7 content helped me pass in June. Praying the pass perfect and your exams help! Thanks for all you do
Sending you good test vibes!
were the pass perfect exams tougher than the actual test?
Question #88 per STC material "an agent may share in the profits and losses in a client’s account if the sharing arrangement is approved in writing by the customer and the agent’s broker-dealer."
Agents can. IARs can not.
Dean, I wanted to thank you so much for all of your help, you have no idea how instrumental you’ve been in helping myself and other test takers, I am so grateful for all of your support, would you please be so kind as to do a third test explication? I hope something wonderful happens for you and your family
Yes, but not sure of the time frame
For Question 39, at 42:08, Money market, why isn't the answer a CD? Wouldn't a CD provide a better source of income than a Money Market fund with similar levels of preservation of capital?
Take it up with TestGeek
Sitting for my 66 this morning, hoping for the same result as the 7! Thank you for all of this amazing content as always, Dean. Extremely helpful, and hopefully will help me pass this one first go!
You got this. This afternoon you will be an Investment Advisor Representative! Oops, noon of the 30th day. Lol.
Question 59, why would Sharon have to register if there is no place of business and does the transaction with a bank (institution)?
Reach out to TestGeek
Key word I'm guessing for question 59 is unsolicited, meaning the client placed the order through the bank, so she would have to register in that state..if it was just solicited by the bank then no register is necessary..I'm pretty sure that is what that means...you've helped me out a bunch, love your content
Reach out to TestGeek
Got the quick sheet thanks to you and just wanted to say the answer key for 48 says A. and the following explanation points toward B. Figured I’d put that here.
And also thanks for your explications, they’ve really helped!
It is corrected in the time stamps in the video description.
on 52, Reinvestment is at the IRR. And I am 100 % on that. Just an FYI
I will check it out. Thanks.
Great video. Wish we had more these explanations.
Glad you found it helpful. Always adding more.
Missed by two questions today, saw a few questions regarding trusts, one CAPM question and one dividend discount model question that I can remember.
Damn. That hurts. A miss that close is not knowledge deficit. Some other variable. Did you change answers?
Hey Dean, question # 28 - I thought federally covered IA's need to register in their home state? Why would it be no state as that answer? Thanks!
The IAR of a federally covered Investment Advisor needs to register in any state they have a place of business.
question 28 - I thought Federal covered advisors have to register with any state they have an office?
That is not true. Only the IAR does.
My test is in 2 weeks. The S7 explication helped me a lot. Hopefully this will help too.
Been getting feedback that is helping slay the 66 dragon.
Great Explication! I like the practice exams!
Glad you like them. Share with other test takers. Thanks.
For federal covered advisors, I thought if you had an office in the state, you needed to register or is that just for the IAR?
Just the IAR
Thanks Dean for all that you have done, If you have time a third practice test for 66 would be great?
Working on it.
74 on this averaging 70 on PP… test is tomorrow will follow up tomorrow
Sending you good test vibes!
Questions like 46 where it says “agent of B/D” keeps getting me messed up. Testing on Saturday. Any videos you recommend to help clearing things up on registration. I have Brian’s paid supplement as well
Use Brian's cheat sheet.
Question 48 isn’t A? My Exam FX book says choice A almost word for word.
Take it up with Brian@testgeekexamprep.com
Love these. Keep them coming.
Will do.
Excellent explication Dean.
Thanks Jimmy. You will be an IAR of a federally covered investment advisor.
@@Series7Guru I'm working very hard for that! If anyone can get me there it definitely is you.
Hey Dean, maybe you can help me with 39. I thought based off of my Kaplan book page 362, that "An 83 year old widower explains that is he is risk-averse and wishes to find an investment that will provide him with preservation of capital. Which of the following would you recommend?" The correct answer is B. Bank Insured CD's. Then it goes on to explain "The exam has two answers for preservation of capital. The strongest is Bank Insured CD's. Followed by Money Market Fund" So why are you saying money market in this video?
Thanks for all the help Dean! You're the man.
I say money market funds can be redeemed at any time for an NAV of $1. That is not true of a CD.
It is not my question. It is a TestGeek question. Feel free to reach out to Brian. There is a link on the channel.
Great help . Thank you
De nada
For question 35, How is an index fund tax efficient from not being actively managed?
Yes
@@Series7Guru is that due to the fact that they are not redeeming shares causing taxable events?
@southbaykid1 no it is because they are not buying and selling securities
For question 59, Banks are able to cover their own assets, but because of the de minimis they must register always? Would there ever be an exclusion
Check in Brian Lee, the TestGeek
Me again!! I am reading straight out of my textbook that the USA does not consider a bona fide pledge or loan a sale. Why does the answer to #41 include it?
It does not include it. The answer was I and III. II was NOT considered a sale and was NOT part of the correct answer
@@Series7Guru Oh wow. I think my brain is just fried from reading all these questions!! Thanks Dean!
Hi Dean. Question 39, why isn't the answer a CD? Is the interest from the CD not considered income? I would think a CD provides better preservation of capital and higher return than a Money Market.
Judgement questions can always be challenging. I don't care for this one either.
Great practice review
Glad you found it helpful
Hello Dean!
Wouldnt the answer to 49 be Weak form?
Strong form states that all information is already priced in.
No.
@@Series7Guru I had the same thought. Doesn't weak form says that past pricing/trends cannot be used to predict future prices? Strong form says all public/private/past information is already reflected in stock prices and proper asset allocation is the only way to outperform.
@@mikemcnichol6321 you can take it up with Brian Lee, the TestGeek. There is a link on the channel. Doesn't matter because the actual test it will be strong form and recommend an index fund.
this one confused me as well
@testgeekexamprepllc4548 Brian, could you chip in here --- this is a point of confusion and it appears the answer to question 49 is "Weak Form." I'm looking at other sources (investopedia, etc.) --- could you please explain the rational behind 49 being C, "Strong Form?" Please and Thank you.
9:17 dude, how am I still missing efficient market hypothesis questions?? I thought weak was no technical analysis, room for fundamental. Semi strong was no fundamental or technical, but room for insider. And strong was nothing works. How would 6 be semi-strong then?
Take it with the TestGeek. Ther is a link to contact him.
@@Series7Guru I got the second EMH question right. Thank God!
Hi dean, would you say this TestGeek test is harder than the actual exam, or right on par with difficulty? Thank you!
Right on par.
Hey Dean, how was Brian trying to trick us on question 58? Having a little trouble understanding this one..
Reach out to Brian. There is a link on the channel.
Hey Dean, Question 47 you said even if the index based annuity had dropped 15% the client is still guaranteed a positive return of 2% in this example. That 2% however isn't subjected to the 80% participation rate, correct? The client would still receive 2%; not 2% x 80% participation rate?
Correct.
Dean for question 49 how is it strong form and not weak form ?
Explanation is in video description.
Just to clarify: Do IARs that work for a fed covered IA need to register in the state they have an office in AND their principal office state or just the state where the IAR is located?
Just where they have a place of business
@@Series7Guru ok awesome. So a fed covered IAR would basically have the same state register requirements as a B/D Agent?
@@davidcynkin6264 no. An agent of a broker/dealer registration is based on the state in which they have a retail client of that state.
The broker/dealer's registration is any state they have an office and/or a retail client.
@@Series7Guru ok great thank you. So for Question 21 on test geek: wouldn’t the answer be A (1 & 2) since the IA is fed covered, the IAR wouldn’t have to register in the IA main office state or the visiting state?
@@davidcynkin6264 21. B. An IAR of a federally covered IA need be registered only in the state of the IA’s home office (or any other
office the IAR may work from - which does not apply in this question).
25. What is it called when a customer is short the stock and long a call?
A protective call
Dean,
For question 6, why is it semi - strong?
I have in my notes that fundamental analysis works for Weak form, but only insider information will work for semi-strong.
If it's based on company financials, that's fundamental analysis right?
Also on question 28 why do you not register a home office? If it would have said principal office then you would have registered right?
Reach out to Brian@testgeekexamprep.com
The test is hard enough don't be making up questions you weren't asked and will not be asked but yes.
Sorry for another question.
But question 49, why couldn't it be semi - strong if fundamental and technical analysis don't work for semi - strong, only insider information? Why does it have to be strong form? I am starting to get confused.
These are helpful, a third would be cool. Can never practice too much.
There will be a third but not for a few weeks at least.
Thank you for all the content! I received a 91 on this exam. 82 on my last pass perfect final, 77 on my last Kaplan final and a 70 on a mastery exam. This is my third try at the 66. Should I be worried with those scores?
Not with those scores
@@Series7Guru thank you! I passed and sent your channel along to a friend who will be taking her series 7.
for question 21...he travels to see 'clients' in state B, we're just supposed to assume it's 5 or less?
You assume no place of business
@@Series7Guru If he travels to see 6+ clients in who live the state, he has to register in the state, no? Regardless of if he has a place of business there.
@@Series7Guru nevermind from question 65 "de minimus does not apply to federally covered IAs"..I honestly don't think that's made clear in the kaplin book.
Thanks!
69% on this one, better study a little harder this week!
You got this!
Your content is so helpful, and helped me to pass the Series 7 several weeks ago. I take my Series 66 in a week, and I am so frustrated with my practice results since they are all over the place. On one exam, I'll score in the 80s, but in the next exam, I'm in the 60s. It doesn't seem to be any single chapter or concept that is tripping me up, either, since I do well on all of the individual chapter quizzes during my reviews. I'm worried and frustrated. Do you have any tips on how I can combat this?
Just keep grinding. Even with a 60 every now and again you should be okay.
Good morning Dean, my test is coming up on Wednesday! I got an 80 on this test one question for you on #69 why is a trustee of an irrevocable trust not considered in the exempt transaction category? Thanks! Do you have a live stream this Tuesday?
Every Tuesday. Not a trustee in a trust account. A trustee in bankruptcy.
Thank you what time is the live stream?
Question 23 - why not b? Does the minimus exception not apply to federally covered advisors?
Federally covered advisors do not register in any state. th-cam.com/video/BX-BKZgSxKo/w-d-xo.html
@@Series7Guru I guess the confusion we are having is that the federal covered IA is not subject to register in the state, but the IAR that has a place of business would. Is that correct? I put B for question 23 as well
@@sandman4714 the IAR would register in the home state of the IA and any state in which IAR has a place of business.
Doesn’t the IAR need to register if he’s soliciting business into that state or conducting business on a none one time basis?
Awsome thankyou Dean
My pleasure.
Excited that my collaboration with TestGeek gets my viewers and subscribers more free great content like this and a 20% discount on TestGeek paid supplements.
How do these questions compare to studying for the 65? I see a new 65 explication coming out tomorrow but in reviewing this explication, it seems to mirror a lot of similar topics.
Exact same content. 65 just has some stuff not found on 66. Everything found on 66 is on 65 too. Will upload 65 version today.
scored 81 on this and 84 on achievable consistently . and 80 on kaplan. Test is tomorrow. How should i feel?
You should feel that you will make your mark!
For question 28, is the answer not A if it is talking about an IAR or by saying "Federally Covered Advisor" is it referring to IA?
There is no such thing as a federally covered IAR. IAR either work for stats or federally covered IA
@@Series7Guru Thank you for the quick response! I have the S66 exam tomorrow!
@@Series7Guru According to my STC material, a federal covered IAs IARs do have to register with the state if they have an office in that state.
@@bretth.9425 the IA does not. The IAR does.
Hey Dean, I got a 73 on this, the majority of my wrong answer are in the 50,60s,70s on registration/regulations which I think I can improve on, I test in two days ,do you think I have a chance
More than a chance. You are in good shape. Should make your mark.
@@Series7Guru thank you sir, that's very comforting from the king of finance, going to keep grinding until my test day and hopefully knock this out
In the same boat here, scored a 72. Test on Tuesday. I noticed most of my wrong answers were in the 50’s 60’s & 70’s with a few in the 20’s and 30’s.
I did find this exam to be extremely difficult compared to PP/Kaplan. But I also do understand Brian is trying to replicate the “legal” terminology and confuse us.
How did you do on the real exam? It’s so hard to know where I’m at in terms of preparation with this because I feel like I understand a topic and end up getting a question wrong on that topic that’s worded much differently from previous questions. The 7 was much easier IMO in terms of preparation and understanding concepts.
Hi Dean. Thanks for a great explication! I used Kaplan for my studies and received an 82% on the first practice exam, a 78% on the mastery (I found the mastery exam to be ridiculously difficult), and an 80 on this. Should I feel confident about my scores? I take my 66 tomorrow.
That is a great mastery score. You are not at risk. Circle back tomorrow with your testing victory!
@@Series7Guru Passed the 66! Even with a tough roll I was able to pass, and a big part of that was your videos. I will be taking my LAH next week then I will be finished. I will not be unsubscribing, I enjoy your content too much!
@@brettswanson4815 Kudos on slaying that NASAA dragon and thanks for sticking around.
Got an 84 on this Dean thanks for doing this. Think I’m sitting alright with an 84?
Hey Dean! Thanks for posting this, as always great work on your end! I know you have a Kaplan Series 66 Class coming up soon, how can I sign up for it? I already purchased the Kaplan Q Bank for the same. Let me know! thanks!
Starts Tuesday. My Kaplan 10% discount code at checkout is Guru10.
Hi Dean!
Hi Kat!
I would like to purchase the $100
With your code
www.testgeekexamprep.com/ discount code is Guru20. That brings down to $80.