Series 66 Exam Lesson 19 Quiz

This is a Series 66 Exam Lesson Free Quizz Series 66 Exam Lesson 19 Quiz, Series 66 Exam Lesson 19 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 19 Quiz

This is a Series 66 Lesson 19 Quiz which is covering Fixed Income 1. Try it and see how you do if you need help listen to the lesson over.

Questions covered include

Questions:

1. Which of the following is the correct set of government bills in order of increasing length in which they are set?

A. bills, notes, bonds

B. notes, bonds, bills

C. bonds, notes, bills

D. All of the above government bills have equal duration in which they are set.

2. Which of the following is NOT a US government sponsored entity?

A. Fannie Mae

B. Freddie Mac

C. Ginnie Mae

D. Sallie Mac

3. A call feature is a compulsory redemption of the bond at a specific price.

A. True

B. False

4. A call protection period is _____.

A. a period of time which protects the bond holder from an increase in the interest rate

B. a period of time which protects the bond holder from a decrease in the dividend

C. a period of time which protects the bond holder from a call from the issuer

D. a period of time which protects the bond holder from a call from the transfer agent

5. It is best to quote a bond to a client in the most conservative yield.

A. True

B. False

6. It is the right of the bond holder to redeem the bond from the issuer on a specific date.

A. call feature

B. put feature

C. tending feature

D. refund feature

7. US treasury bonds are quoted in ___.

A. eighths

B. sixteenths

C. thirty-seconds

D. sixty-fourths

8. Corporate bonds are quoted in ___.

A. eighths

B. sixteenths

C. thirty-seconds

D. sixty-fourths

9. Bonds that trade flat are bonds without accrued interest.

A. True

B. False

10. Which of the following is a bond that trade flat?

A. defaulted bond

B. commercial paper

C. zero coupon bond

D. all of the above

Series 66 Exam Lesson 19 Quiz: Fixed Income 2: Continued

11. A basis point is 10th of a percentage point.

A. True

B. False

12. In calculating the price of a serial bond, the following are needed EXCEPT ___.

A. call date

B. maturity date

C. settlement date

D. yield basis quote

13. In corporate bonds, in the event of dissolution, which of the following is the correct set of obligation in order of decreasing priority?

A. preferred stockholders  secured creditors  debentures  unpaid wages, taxes, trade creditors

B. secured creditors  preferred stockholders  debentures  unpaid wages, taxes, trade creditors

C. secured creditors  unpaid wages, taxes, trade creditors  debentures  preferred stockholders

D. unpaid wages, taxes, trade creditors  debentures  secured creditors  preferred stockholders

14. The Trust Indenture Act of 1939 includes which of the following?

A. the terms of the issuance of bond

B. specific protections for the bondholders

C. important information for the full disclosure of the terms of that bond offering

D. all of the above

15. All of the following are secured debts EXCEPT ___.

A. debentures

B. equipment trust certificates

C. mortgage bonds

D. All of the above are secured debts.

16. Which of the following is NOT a characteristic of a commercial paper?

A. It is registered in the Securities and Exchange Commission.

B. It is usually in very large denominations.

C. It is usually issued at a discount.

D. Its maturity does not exceed 270 days.

17. It gives the bond holder the option of converting his debt in common stock at a set conversion ratio.

A. collateral trust certificates

B. convertible corporate debt

C. direct paper

D. income bonds

18. Why would a bond be called by the issuer?

A. to convert the bond into common stock

B. to exchange the bond for another bond

C. to make interest payments tax deductible

D. to put a ceiling price on the bond if the interest rates go down

19. When the bond and stock are trading at equivalent values and there’s no theoretical reason for conversion or non-conversion, there is parity.

A. True

B. False

20. When stocks rise above parity, corporate treasures may force the conversion of the debt into equity by ___.

A. calling the bond

B. tending offer

C. refunding the bond

D. all of the above

We hope you did well on this Series 66 Lesson 19 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