Tag: Series 66

New Series 66 Video Lecture – Now Available!

Solomon Exam Prep is pleased to announce the release of a new Series 66 Video Lecture. Updated for 2016, this 9.5 hour video lecture offers a complete overview of the NASAA Uniform Combined State Law Examination. Continue reading

Series 66 Video Lecture

Solomon Exam Prep is pleased to announce the release of a new Series 66 Video Lecture.  Updated for 2016, this 9.5 hour video lecture offers a complete overview of the NASAA Uniform Combined State Law Examination.

Jeremy Solomon breaks down each section of the exam into different topic areas so students can focus on individual topics or watch from beginning to end.

Topics covered include economics and business information, investment vehicle characteristics, client investment recommendations and strategies, state and federal securities acts and related rules and regulations, and ethical practices and fiduciary obligations.

Students get the added benefit of being able to download the slides from the Video Lecture to study at their leisure.

The Solomon Series 66 Video Lecture can be purchased alone, or as part of our recommended Total Study Package. Order online or give us a call at 503-601-0212!

Solomon’s Industry News: November 2015 Edition

Solomon Exam Prep is happy to release this month’s edition of “Solomon’s Industry News.” Continue reading

Solomon Exam Prep is happy to release this month’s edition of “Solomon’s Industry News.” Every month we will send out industry updates from the past month, so you can stay current and up-to-date on everything that is happening here at Solomon Exam Prep and in the industry.

Check out this month’s edition here: Solomon’s Industry News – November 2015.

To be added to our monthly mailing list, please click here.

Study Question of the Month – October

This month’s study question from the Solomon Online Exam Simulator question database is now available. Relevant to the Series 7, 52, 62, 65 and 66. –ANSWER POSTED– Continue reading

This month’s study question from the Solomon Online Exam Simulator question database is now available.

***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***

Study Question

Question (Relevant to the Series 7, Series 52, Series 62, Series 65 and Series 66):

The interest rate on a SLGS certificate or bond can never fall below:

Answers:

A. The Treasury rate

B. One basis point above the Treasury rate

C. One basis point below the Treasury rate

D. Zero

Correct Answer: D. Zero

Rationale: The SLGS interest rate is always one basis point below the Treasury security that has a comparable maturity, unless the Treasury rate itself equals zero, which is the floor below which the interest rate on a SLGS cannot go. In this case the Treasury rate and the SLGS rate will be equal.

 

All study questions are from Solomon’s industry-leading Online Exam Simulator.

Study Question of the Month – September

This month’s study question from the Solomon Online Exam Simulator question database is now available. Relevant to the Series 65 and 66. –ANSWER POSTED– Continue reading

This month’s study question from the Solomon Online Exam Simulator question database is now available.

***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***

Study Question

Question (Relevant to the Series 65 and Series 66):

Daredevil Dave, a famous skydiver, is your client. “Double D“ as he is known, comes to you and tells you that in 18 months he is planning on doing his most dangerous dive yet: a free fall from an orbiting space station. Double D says that he doesn’t have life insurance and in case he doesn’t survive this space dive, he wants to make sure his family will be provided for. He wants them to receive a monthly payment of $5,000 in perpetuity. He asks you how much money he will need to pay now in order to achieve this. Assuming a 2% rate of return, and assuming this is going to be Double D’s last dive, you tell him that he will need to contribute:

Answers:

A. $3 million

B. $6 million

C. $9 million

D. $12 million

Correct Answer: A. $3 million

Rationale: A perpetuity is an annuity or stream of payments without end. To calculate the present value of a perpetuity, you divide the periodic payment by the rate of return (also known as interest rate or yield). In this case there are two ways to reach the answer: (1) Divide the 2% rate of return by 12 to get the monthly rate of return: 0.001667, then divide the monthly payment by the monthly rate of return: $5,000/0.001667 = $2,999,400 or (2) Multiply $5,000 times 12 months to get a $60,000 annualized payment to the family and then divide that by the 2% yield or $60,000/.02 = $3 million.

Congratulations Kate F., this month’s Study Question of the Month winner!

All study questions are from Solomon’s industry-leading Online Exam Simulator.

Exam Alert: SEC Issues Bulletin Regarding Diminished Financial Capacity

On June 1, 2015, the SEC issued an investor bulletin about “diminished financial capacity”, which refers to when an individual becomes unable to manage their finances. They recommend a number of steps for individuals to take to prepare for such a condition. Continue reading

Exam AlertOn June 1, 2015, the SEC issued an investor bulletin about “diminished financial capacity”, which refers to when an individual becomes unable to manage their finances. They recommend a number of steps for individuals to take to prepare for such a condition. These steps include:

  • Organize important documents and keep them safe and accessible
  • Give your financial professionals emergency contacts
  • Keep your information and contacts updated
  • Report financial fraud and abuse

Some other options to consider include:

  • Authorizing a durable power of attorney
  • Getting someone you trust involved

Source: Investor Bulletin and Consumer Advisory: Planning for Diminished Capacity and Illness

This alert applies to the Series 6, Series 7, Series 52, Series 65, and Series 66.

Study Question of the Month – April

This month’s study question from the Solomon Online Exam Simulator question database is now available. Relevant to the Series 63, 65, and 66. –ANSWER POSTED– Continue reading

This month’s study question from the Solomon Online Exam Simulator question database is now available.

***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***

Study Question

Question (Relevant to the Series 63, Series 65, and Series 66):

Jenny is an administrative assistant who mans the phones over the lunch hour for a broker-dealer. She occasionally takes orders while the sales staff is on lunch, but does not solicit orders. She is not compensated directly for the orders she takes. Which of the following is true under the Uniform Securities Act?

Answers:

A. Jenny does not need to register if she only takes unsolicited orders.

B. Jenny does not need to register since her job function is mostly clerical in nature.

C. Jenny needs to register as an agent for the broker-dealer.

D. Jenny does not need to register because she is not compensated for the orders she takes.

Correct Answer: C. Jenny needs to register as an agent for the broker-dealer.

Rationale: Even though Jenny’s job is clerical in nature, if she takes orders, even unsolicited orders, she must register as an agent for the broker-dealer. Interestingly, she is allowed to read off bond quotes or stock prices over the phone and she may access account information without having to register as an agent.

Congratulations! This month’s winner is Jessi B.

Weekly study questions are from Solomon’s industry-leading Online Exam Simulator.

Study Question of the Month – December

This month’s study question from the Solomon Online Exam Simulator question database is now available. Submit your answer for a chance to win a $10 Starbucks gift card! Relevant to the Series 7, Series 24, Series 62, Series 65, Series 66, and Series 79. –ANSWER POSTED– Continue reading

This month’s study question from the Solomon Online Exam Simulator question database is now available.

***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***

 Study Question

Question (Relevant to the Series 7, Series 24, Series 62, Series 65, Series 66, and Series 79): 

A popular type of business structure that does not limit an owner’s personal liability for the actions and/or debts of the entity and does not have to pay corporate taxes on profits is a:

Answers: 

A. LLC

B. C corporation

C. S corporation

D. Sole proprietorship

Correct Answer: D. Sole proprietorship

Rationale: LLCs, S Corporations and C Corporations all offer some form of limited liability to their owners. LLCs and S Corporations are so-called “pass through“ entities and do not pay taxes on profits at the entity level (as opposed to C Corporations which do). The correct answer to this question is a sole proprietorship. A sole proprietorship does not offer an owner any liability protection and is not required to file corporate income tax returns.

Congratulations! This month’s winner is Jeffrey B.

Weekly study questions are from Solomon’s industry-leading Online Exam Simulator.

Testimonial Tuesday: November 11, 2014 Edition

“…Your Series 7 program was easy to understand. The “Ask the Professor” was invaluable for the Series 66… Continue reading

“Karen and Team Solomon, thank you so much for all your support. Your Series 7 program was easy to understand. The “Ask the Professor” was invaluable for the Series 66. You are the program of choice for our office.”

-Kirk, Platinum Wealth Strategies, PA

 

— Read more reviews here: Solomon Exam Prep Reviews —

Study Question of the Month – October

This month’s study question from the Solomon Online Exam Simulator question database is now available. Relevant to the Series 6, 7, 62, 65, 66, and 82. –ANSWER POSTED– Continue reading

This month’s study question from the Solomon Online Exam Simulator question database is now available.

 Study Question

Question (Relevant to the Series 6, Series 7, Series 62, Series 65, Series 66 and Series 82): 

The decimal equivalent of a basis point is:

Answers:

A. 0.01

B. 0.001

C. 0.0001

D. 0.00125

Correct Answer: C. 0.0001

Rationale: A basis point is one-hundredth of one percent, or .0001.

Weekly study questions are from Solomon’s industry-leading Online Exam Simulator.