Series 66
Exam Preparation - Final Words
Briefly, the Administrators mostly want you to know the definitions for key terms (i.e. broker-dealer, agent, financial advisor, security, registration, etc.) and to know what constitutes fraud. The Administrators want you to be a responsible securities professional; thus, much of the test is actually common sense.
If you have no time to study, keep this guideline in mind: if an action feels even remotely illegal, then it is probably fraudulent. Furthermore, Administrators more often than not prefer securities to be registered in their states.
Unless something is federally registered (i.e. a government security or a security listed on a major exchange), it probably has to be registered in your state. Just remember that registration creates accountability, and accountability demands responsible securities transactions.
If you have no time to study, keep this guideline in mind: if an action feels even remotely illegal, then it is probably fraudulent. Furthermore, Administrators more often than not prefer securities to be registered in their states.
Unless something is federally registered (i.e. a government security or a security listed on a major exchange), it probably has to be registered in your state. Just remember that registration creates accountability, and accountability demands responsible securities transactions.
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