Series 66 Exam Quiz Mutual Funds 3
This is a Series 66 Exam Quiz Mutual Funds 3: a free quiz for Series 66 Exam Quiz Mutual Funds 3 which is covering Mutual Funds part 3 . Try it and see how you do if you need help listen to the lesson over.
Series 66 Exam Lesson 26 Quiz Mutual Funds pt 3
This is a Series 66 Exam Quiz Mutual Funds 3. Try it and see how you do if you need help listen to the lesson over.
Questions covered include
1. Which of the following is true about hedge funds?
(Select all that apply.)
A. They are not allowed to cut off withdrawals by their investors.
B. They are open to any kind of investor.
C. They charge a management fee.
D. They have a cap on the amount that is available to be withdrawn at any given time.
2. What is the minimum capital for a hedge fund?
A. $100,000
B. $200,000
C. $500,000
D. $1,000,000
3. Which of the following is qualified as an accredited investor according to the Securities Act of 1933?
(Select all that apply.)
A. a bank
B. a charitable organization with a total asset of $5 million
C. a trust with a total asset of $10 million
D. an employee benefit plan that has a total asset of $3 million
4. A business is qualified to be an accredited investor if all its equity owners are accredited investors.
A. True
B. False
5. A natural person can be an accredited investor if that person ___.
(Select all that apply.)
A. has an income exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income level in the current year
B. has individual net worth that exceeds $1 million including the value of the primary residence of such person
C. has a joint income with the spouse exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income in the current year
D. has a joint net worth with the person’s spouse that exceeds $1 million excluding the value of the primary residence of such person
6. The performance of a hedge fund is always better than the market.
A. True
B. False
7. Which of the following strategies does a hedge fund employ?
(Select all that apply.)
A. global macro hedge fund strategy
B. relative value arbitrage
C. high-frequency trading
D. currency strategies
8. A mutual fund’s annual and semiannual report has an income statement similar to a regular corporate income statement.
A. True
B. False
9. Which of the following can be found in a mutual fund’s income statement?
(Select all that apply.)
A. dividends
B. capital gains
C. expenses
D. net income
10. Which of the following is true about expense ratio?
(Select all that apply.)
A. It applies to closed-end funds but not to open-end funds.
B. It gives an overall look at how much it costs to pay the management to buy the stocks instead of buying it yourself without paying any management fee.
C. It is the total net assets divided by the total expenses.
D. It shows the efficiency of the fund.
11. If you’re buying a fund at a very big discount but has a very high expense ratio, the discount you’re buying those stocks may disappear.
A. True
B. False
12. An investment company should distribute at least ___ of its income in order to be regulated under the Investment Company Act of 1940.
A. 80%
B. 85%
C. 90%
D. 95%
13. If an investment company is not regulated under the Investment Company Act of 1940, ___.
A. it becomes taxed as a regular corporation
B. it has to pay an additional tax equivalent to 2% of the total capital gains
C. it will require double management fees
D. its net pass is not taxed
14. Investment companies can pass through capital gains ___.
A. monthly
B. quarterly
C. semiannually
D. at the end of the year
15. An investor buying a mutual fund at the end of the year will not be paying taxes if he has not made any money in the fund.
A. True
B. False
16. It is a type of mutual fund having a portfolio that is constructed to mimic the market index.
A. closed-end fund
B. exchange traded fund
C. index fund
D. open-end fund
17. These funds are traded as regular stocks on the stock exchange, but move throughout the day.
A. closed-end fund
B. exchange traded fund
C. index fund
D. open-end fund
18. As an investor in a fund or in a management company, you have the right to ___.
(Select all that apply.)
A. receive annual and semiannual reports
B. vote annually on the investment adviser contract
C. vote every year on the board of directors
D. vote on any changes in the investment objectives
19. In an investment company, ___ of the directors must be non-interested.
A. 75%
B. 80%
C. 85%
D. 90%
20. In a dollar cost averaging, when the price of the stock goes up, ___.
A. you’re buying fewer shares on any given month
B. you’re buying more shares on any given month
C. you’re buying the same number of shares on any given month
D. you cannot buy any shares until the price of the stock returns to market price
We hope you did well on this
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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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