Series 66 Mastery Muiti- Choice Exam
Correct
Incorrect
1 of 110
Definition
A client calls and tells her adviser that she has read about how to avoid
estate taxes by transferring all her assets into an irrevocable living trust
and would like the adviser's opinion on the matter. The adviser's most
appropriate and ethical response should be to
A) discuss the advantages of the arrangement and assist the client in
drafting the appropriate documents for a fee.
B) urge the client to consult with an attorney without disclosing that this
attorney pays a referral fee to the investment adviser.
C) recommend the client consult with a qualified legal professional.
D) refuse to discuss the trust with the client because the adviser does
not want the client to transfer her assets to another account.
Give this one a try later!
, C) recommend the client D) recommend Torex to a client, but
consult with a qualified legal she must disclose her investment in
professional. Torex to the client.
D) requires the consent of and D) be permitted as long as the only
written disclosure to the client prior payment made by the broker-dealer
to completion of the transaction. was the registration costs.
Don't know?
2 of 110
Definition
Your client wishes to begin a self-funded retirement plan that will
enable him to make contributions until he is 75 years of age with no
required minimum distributions. Which of the following would be your
recommendation?
A) Roth IRA
B) Deferred compensation plan
C) Traditional IRA
D) 401(k)
Give this one a try later!
A) $52.00 per share. A) arbitrage.
C) laddering. A) Roth IRA
, Don't know?
3 of 110
Definition
An investment adviser representative would be permitted to borrow
money from which of the following clients?
A) ABC Mortgage Brokers
B) The investment adviser representative's father for graduate school
tuition
C) The Amalgamated Dock Workers Credit Union
D) The XYZ Short-Term Bond Fund
Give this one a try later!
B) the sofa in the office reception
B) the internal rate of return (IRR).
room.
C) the fees charged by hedge fund C) The Amalgamated Dock
managers. Workers Credit Union
Don't know?
4 of 110
Definition
, Which of the following offenses are grounds for the denial, suspension,
or revocation of an issuer's registration?
A) The registration statement was filed without the appropriate fees.
B) Persons filing the registration statement engaged a third party to
assist in the preparation of the registration statement.
C) The registrant engaged in business operations outside of the United
States.
D) The registrant's underwriting fees are considered reasonable by the
administrator.
Give this one a try later!
A) The registration statement
C) An ETF tracking an index was filed without the
appropriate fees.
A) Customers must be given annual
A) Inflation-adjusted return privacy disclosures on a separate
piece of paper.
Don't know?
5 of 110
Definition
The Uniform Prudent Investor Act identified a number of fundamental
changes in the former criteria for prudent investing. Which of the
following statements does not state one of these changes correctly?
Correct
Incorrect
1 of 110
Definition
A client calls and tells her adviser that she has read about how to avoid
estate taxes by transferring all her assets into an irrevocable living trust
and would like the adviser's opinion on the matter. The adviser's most
appropriate and ethical response should be to
A) discuss the advantages of the arrangement and assist the client in
drafting the appropriate documents for a fee.
B) urge the client to consult with an attorney without disclosing that this
attorney pays a referral fee to the investment adviser.
C) recommend the client consult with a qualified legal professional.
D) refuse to discuss the trust with the client because the adviser does
not want the client to transfer her assets to another account.
Give this one a try later!
, C) recommend the client D) recommend Torex to a client, but
consult with a qualified legal she must disclose her investment in
professional. Torex to the client.
D) requires the consent of and D) be permitted as long as the only
written disclosure to the client prior payment made by the broker-dealer
to completion of the transaction. was the registration costs.
Don't know?
2 of 110
Definition
Your client wishes to begin a self-funded retirement plan that will
enable him to make contributions until he is 75 years of age with no
required minimum distributions. Which of the following would be your
recommendation?
A) Roth IRA
B) Deferred compensation plan
C) Traditional IRA
D) 401(k)
Give this one a try later!
A) $52.00 per share. A) arbitrage.
C) laddering. A) Roth IRA
, Don't know?
3 of 110
Definition
An investment adviser representative would be permitted to borrow
money from which of the following clients?
A) ABC Mortgage Brokers
B) The investment adviser representative's father for graduate school
tuition
C) The Amalgamated Dock Workers Credit Union
D) The XYZ Short-Term Bond Fund
Give this one a try later!
B) the sofa in the office reception
B) the internal rate of return (IRR).
room.
C) the fees charged by hedge fund C) The Amalgamated Dock
managers. Workers Credit Union
Don't know?
4 of 110
Definition
, Which of the following offenses are grounds for the denial, suspension,
or revocation of an issuer's registration?
A) The registration statement was filed without the appropriate fees.
B) Persons filing the registration statement engaged a third party to
assist in the preparation of the registration statement.
C) The registrant engaged in business operations outside of the United
States.
D) The registrant's underwriting fees are considered reasonable by the
administrator.
Give this one a try later!
A) The registration statement
C) An ETF tracking an index was filed without the
appropriate fees.
A) Customers must be given annual
A) Inflation-adjusted return privacy disclosures on a separate
piece of paper.
Don't know?
5 of 110
Definition
The Uniform Prudent Investor Act identified a number of fundamental
changes in the former criteria for prudent investing. Which of the
following statements does not state one of these changes correctly?
