Series 66 Exam Quiz Mutual Funds 1
This is a Series 66 Exam Quiz Mutual Funds 1: a free quiz for Series 66 Exam Quiz Mutual Funds 1 which is covering Mutual Funds part 1 . Try it and see how you do if you need help listen to the lesson over.
Series 66 Exam Lesson 24 Quiz Mutual Funds pt 1
This is a Series 66 Exam Quiz Mutual Funds 1. 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 an example of a mutual fund?
(Select all that apply.)
A. corporate bond fund
B. balanced fund
C. hedge fund
D. junk bond fund
2. Which of the following is an example of an income fund?
(Select all that apply.)
A. 12b-1 fund
B. bond income fund
C. government bond income fund
D. utility stock income fund
3. Which of the following is an example of an open-end fund?
(Select all that apply.)
A. 12b-1 fund
B. accumulated fund
C. fee-based mutual fund
D. no load fund
4. Which of the following is a requirement in putting up an investment management company?
(Select all that apply.)
A. custodian bank
B. financial lawyer
C. investment advisor
D. underwriter
5. It is anybody who has the ability to sponsor the mutual fund.
A. custodian bank
B. investment advisor
C. selling group
D. underwriter
6. It is the document which outlines everything that the client needs to know about the mutual fund.
A. Investment Company Act of 1940
B. investment management company indenture
C. mutual fund contract
D. prospectus
7. Which of the following is contained in the prospectus?
(Select all that apply.)
A. systematic withdrawal plan
B. the name of the investment advisor and the custodian bank and their respective fees
C. the type of mutual fund
D. whether the fund is a diversified fund or not
8. The objectives of the fund is already fixed in the prospectus and can never be changed until all the funds are withdrawn.
A. True
B. False
9. Buying a mutual fund is buying a bond.
A. True
B. False
10. Mutual funds are not traded.
A. True
B. False
11. Mutual funds allow the investor to switch within the family of funds with no sales charge.
A. True
B. False
12. In an open-end fund, there’s a one-time fee that the underwriter will get for selling the shares in that fund.
A. True
B. False
13. No load funds have no ___.
A. asking price
B. bid price
C. net asset value
D. sales charge
14. The maximum sales charge for loaded funds is ___.
A. 6 ¼ % of the net asset value
B. 6 ¼ % of the public offering price
C. 8 ½ % of the net asset value
D. 8 ½ % of the public offering price
15. If a loaded fund chooses to charge the maximum sales charge, it is also required to offer ___.
(Select all that apply.)
A. breakpoints
B. letter of intent
C. principal reinvestment
D. rights of accumulation
16. Which of the following is true about breakpoints?
(Select all that apply.)
A. It can be obtained by investment clubs.
B. It is calculated only for individual investors.
C. It is detailed in the prospectus.
D. There is an increasing sales charge as the dollar amount goes up.
17. The maximum length on the letter of intent is ___.
A. 12 months excluding 30 days backdating
B. 12 months including 30 days backdating
C. 13 months excluding the 90 days backdating
D. 13 months including the 90 days backdating
18. Which of the following is a characteristic of a diversified fund?
(Select all that apply.)
A. Five percent or more of its assets can be invested in anyone issuer.
B. It has a fixed payment date.
C. Maximum of 10% of the voting shares of anyone issuer is allowed in the funds.
D. Seventy-five percent or more of its assets must be invested in securities.
19. Which of the following is the ideal type of 12b-1 fund for long-term investors?
A. Class A
B. Class B
C. Class C
D. Class D
20. Which of the following mutual fund sales practices is prohibited by the Investment Company Act of 1940?
A. accepting late orders after the market closes
B. offering a reduced sales charge if a client gets above a breakpoint
C. putting an additional fee or a management charge on sales of open-end funds
D. reducing the maximum sales commission
We hope you did well on this
———————————
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/
Podcast: Play in new window | Download