Series 66 Exam Lesson 20 Quiz
This is a Series 66 Exam Lesson Free Quizz Series 66 Exam Lesson 20 Quiz, Series 66 Exam Lesson 20 Quiz which is covering Fixed Income 1. Try it and see how you do if you need help listen to the lesson over.
Series 66 Lesson 20 Quiz
This is a Series 66 Lesson 20 Quiz which is covering Fixed Income 3. Try it and see how you do if you need help listen to the lesson over.
Questions covered include
Questions:
Below are questions based on the previous lesson. Choose the letter of the correct answer.
To take the quiz online, click here.
1. The US government is not subject to the Securities Act of 1933.
A. True
B. False
2. Which of the following are non-callable?
A. treasury notes
B. treasury bonds
C. treasury bills
D. all of the above
3. A risk free investment guarantees a client to get back a dollar for every dollar he invests as long as he does it at par.
A. True
B. False
4. Which of the following is a risk-free investment?
A. Collateralized Mortgage Obligations
B. treasury bills
C. zero coupon bond
D. all of the above
5. Interest on direct US treasuries are exempted from ___.
A. federal taxation
B. state taxation
C. both federal taxation and state taxation
D. neither federal taxation nor state taxation
6. Which of the following is NOT a characteristic of US government bonds?
A. Their auctions are held every six months.
B. Their interest is paid semiannually.
C. They are callable.
D. They are the longest issued bonds.
7. Interest rates of Treasury Inflation Protected Securities are usually lower than treasury notes or treasury bonds because of the ___.
A. coupon rate
B. inflation protection
C. state taxation
D. all of the above
8. Which of the following is NOT a quasi-hybrid security?
A. Certificates of Accrual on Treasury Securities (CATS)
B. Separate Trading of Registered Interest and Principal Securities (STRIPS)
C. Treasury Income Growth Receipts (TIGERS)
D. All of the above are quasi-hybrid securities.
9. It is an independent federal agency created as a successor regulatory agency from the merger of the Federal Housing Finance Board, the Office of Federal Housing Enterprise Oversight and the US Department of Housing and Urban Development.
A. Federal Home Loan Agency
B. Federal Housing Finance Agency
C. Federal Intermediate Credit Agency
D. Federal Land Agency
10. The only US government agency obligation that carries the full faith and credit of the United States government
A. Farmers Housing Administration
B. Government National Mortgage Association
C. Small Business Administration
D. Student Loan Marketing Association
Series 66 Exam Lesson 20 Quiz: Continued
11. Which of the following is NOT guaranteed in a Ginnie Mae certificate?
A. duration of the investment
B. interest rate
C. principal
D. All of the above are guaranteed in a Ginnie Mae certificate.
12. Why does the investment value of a Collateralized Mortgage Obligation decline in a client’s statement?
A. The interest rate goes down making the investment value decrease.
B. The principal is adjusted based on the current inflation rate.
C. The reduction in the investment value is received by the client every month as part of the principal.
D. all of the above
13. Zero coupon bonds are created by the government.
A. True
B. False
14. These are government notes or government bonds whose interest payments are stripped out and then sold at a discount.
A. serial bonds
B. treasury bills
C. treasury bonds
D. zero coupon bonds
15. If a client owns a 20-year zero coupon treasury bond and interest rates go up, that bond in the secondary market will ___.
A. drop as much as a regular bond
B. drop significantly more than a regular bond
C. rise as much as a regular bond
D. rise significantly more than a regular bond
16. Which of the following is a characteristic of the Student Loan Marketing Association?
A. It issues normal debentures which are backed by its loans.
B. Interest is paid semi-annually on its bonds.
C. Its bonds are quoted in thirty-seconds.
D. all of the above
17. Agency debts trade in trade day plus three days.
A. True
B. False
18. Primary dealers buy small amounts of government bonds, notes, and bills directly from the government.
A. True
B. False
19. It is a pledge of collateral usually real estate to secure a loan at a fixed interest rate over the term of the loan.
A. asset
B. equity
C. mortgage
D. obligation
20. Which of the following is a risk in a Collateralized Mortgage Obligation?
A. interest rate risk
B. liquidity risk
C. prepayment risk
D. all of the above
We hope you did well on this Series 66 Lesson 20 Free Quiz
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The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative.
The other possible exam would be the series 65 examination.
The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA.
The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions.
There is no prerequisite for the Series 66 examination. However, the SIE and the Series 7 examination are co-requisites to the Series 66 Examination.
What is the Series 65 Exam?
The Series 65 is another path to becoming an Investment Advisor Representative (IAR)
Sometimes called the IAR in a box
Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement
The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor.
When taking the Series 66 to join an RIA firm as a IAR, candidates must complete the exam within 150 minutes. A passing score is 73%, which translates to correctly answering 73 of the 100 scored questions. The NASAA, which administers the exam, does not release Series 66 pass rates. But this is a TOUGH exam, many people do not pass on the first try.
Again requisites for this exam are the SIE Exam and the Series 7 Exam Top Off
The test covers financial industry regulation, securities law, ethics, investments and economics. All these topics factor into a financial advisor’s day-to-day work. Most candidates devote considerable time to studying for the Series 65.
Different States have different requirements in become an Investment Advisor Representative (IAR) so check your states department of securities licensing to find out its requirements.
Series 66 Exam Free Audio Lesson 13
Series 66 Exam Free Audio Lesson 13 is a lesson for the Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative.
The Series 66 Exam consists of 100 questions. When taking the Series 66 to join an RIA firm as a IAR, candidates must complete the exam within 150 minutes. A passing score is 73%, which translates to correctly answering 73 of the 100 scored questions. The Financial Industry Regulatory Authority, which administers the exam, does not release Series 66 pass rates. But this is a TOUGH exam, many people do not pass on the first try.
The test covers financial industry regulation, securities law, ethics, investments and economics. All these topics factor into a financial advisor’s day-to-day work. Most candidates devote considerable time to studying for the Series 66.
The other possible exam path to become a IAR would be the series 65 examination.
What is the Series 65 Exam?
Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement
The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor.
Different States have different requirements in become an Investment Advisor Representative (IAR) so check your states department of securities licensing to find out its requirements.
Series 65 vs Series 66 Exam
The Series 65 exam is designed for those who do not have a Series 7 license. The content of both exams are similar though the Series 65 will be more heavily concentrated on Investment products and economics (like you would need to learn for the SIE and Series 7 Exam). … The Series 66 exam has a little more State law (such as what you will find in the Series 63 Exam) and some esoteric investment products.
Our audio lessons for both the Series 65 and Series 66 cover the material you would need to learn for the SIE and Series 7 exam so it may be a little more than you need for the Series 66 but we want you to be fully prepared!
The only difference between the two series of exam lessons (the 65 and 66) is that the Series 66 exam also covers the material needed for the Series 63 exam.
Our other website s for FINRA and other certification Exams include:
https://www.series7podcast.com
https://www.series7podcast.com
https://insuranceexampodcast.com
https://insuranceexampodcast.com
https://www.reexampodcast.com/
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