Open Exam Prep

Open Exam Prep

By Ran Chen, EA, CFP®EducationCourses
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Open Exam Prep episodes

  • [Series 66] 3, Time Value of Money and Discounted Cash Flow
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    • The core principles of Time Value of Money, including Present Value and Future Value.
    • How Discounted Cash Flow analysis evaluates future cash streams for investment selection.
    • How to calculate and interpret Net Present Value in Series 66 exam scenarios.
    • The critical relationship between Net Present Value and the Internal Rate of Return.
    • A simple decision rule to evaluate investment options and avoid common exam traps.
    This independent study resource helps candidates prepare for the Series 66 exam. For more practice materials, visit https://open-exam-prep.com/practice/series66 or check out https://www.youtube.com/@Open-exam-prep .
    Sources checked: September 14, 2026
    https://www.nasaa.org/wp-content/uploads/2023/02/Series-66-Outline-June-2023.pdf
    https://www.nasaa.org/wp-content/uploads/2023/09/NASAA-Series-66-Exam-Study-Guide.pdf
    5 min
  • [Series 66] 2, Reading Questions and Avoiding Distractors
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - How to distinguish federal law under the Investment Advisers Act of 1940 from state provisions under the Uniform Securities Act.
    - Key differences between investment advisers, investment adviser representatives, broker-dealers, and agents.
    - How to recognize distractor traps related to qualified client thresholds under SEC Rule 205-3.
    - Why charging an advisory fee does not universally require individual IAR registration in every jurisdiction.
    - A four-step decision rule (ROLE) to eliminate tempting incorrect answer choices on the Series 66 exam.
    This independent study resource helps candidates prepare for the Series 66 exam. Practice more questions at https://open-exam-prep.com/practice/series66 and watch video tutorials at https://www.youtube.com/@Open-exam-prep .
    Sources checked: September 14, 2026
    https://www.nasaa.org/wp-content/uploads/2023/02/Series-66-Outline-June-2023.pdf
    https://www.nasaa.org/exams/general-exam-information/series-66-exam-content-outline/
    https://www.sec.gov/files/rules/ia/2026/ia-6961.pdf
    5 min
  • [Series 66] 1, Your Study Plan After Series 7
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    * How the official NASAA Series 66 exam outline breaks down across four weighted content areas.
    * Why relying on Series 7 investment product knowledge alone can lead to exam failure.
    * How to apply the rule of proportional weighting to structure your total study hours effectively.
    * How to avoid the trap of spending equal study time on low-weighted exam sections.
    * Practical methods to prioritize regulatory definitions and Uniform Securities Act model rules.
    For independent study materials, practice tests, and video lessons, visit https://open-exam-prep.com/practice/series66 and subscribe to https://www.youtube.com/@Open-exam-prep .
    Sources checked: September 14, 2026
    * NASAA Series 66 Exam Content Outline: https://www.nasaa.org/wp-content/uploads/2023/02/Series-66-Outline-June-2023.pdf
    * FINRA Series 66 Examination Details: https://www.finra.org/registration-exams-ce/qualification-exams/series66
    5 min
  • Series 7 Exam Prep 100, Final Exam Strategy and Common Series 7 Traps
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - How to strategically focus on Function 3, which accounts for 73% of the Series 7 exam.
    - A method for dissecting customer profile questions to determine the most suitable investment recommendation.
    - Common traps embedded in options and bond math problems, including breakeven and yield calculations.
    - The importance of nuanced keywords like 'liquid,' 'safe,' and 'tax-advantaged' in trick questions.
    - A mental shortcut for correctly ordering bond yields for both premium and discount bonds.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    4 min
  • Series 7 Exam Prep 99, High-Yield Product Comparison Review
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - The primary suitability case for common stock (growth) versus bonds (income).
    - The key distinction tested on the exam between ETFs (intraday trading) and mutual funds (once-daily pricing).
    - Why illiquid investments like Direct Participation Programs (DPPs) are unsuitable for the average retail investor.
    - The tax treatment of variable annuity earnings (ordinary income) versus long-term capital gains from other securities.
    - Why municipal bonds are an inappropriate recommendation for tax-deferred accounts like IRAs.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    4 min
  • Series 7 Exam Prep 98, Regulation and Prohibited Conduct Review
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - How Regulation Best Interest (Reg BI) raises the standard of conduct beyond simple suitability and how this is tested with scenario-based questions.
    - The key elements of prohibited conduct such as churning, selling away, and unauthorized trading, including the specific red flags to look for in exam questions.
    - The critical reporting thresholds and timelines for Anti-Money Laundering (AML) regulations, including Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
    - The specific recordkeeping timeframes for communications (3 years), customer complaints (4 years), and AML records (5 years).
    - The rules for protecting senior investors, including the ability to place temporary holds on disbursements under FINRA Rule 2165 when financial exploitation is suspected.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    5 min
  • Series 7 Exam Prep 97, Trading and Settlement Exam Traps
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - The critical difference between a stop order, which guarantees execution but not price, and a stop-limit order, which guarantees a price but not execution.
    - That Regulation SHO requires a broker-dealer to locate shares for borrowing *before* executing a customer's short sale.
    - How the ex-dividend date, typically one business day before the record date, is the key date for determining who is entitled to a dividend.
    - The purpose of a due bill, which ensures a buyer receives a dividend they are entitled to when a trade settles after the record date.
    - The ACATS transfer timeline, which requires the carrying firm to validate a transfer in one business day and move the assets within three business days.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    5 min
  • Series 7 Exam Prep 96, Communications and Disclosure Exam Traps
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - All communications must be fair, balanced, and disclose risks alongside potential rewards.
    - Misleading performance data, such as showing returns from only favorable periods, is a violation.
    - The Options Disclosure Document (ODD) must be delivered at or before account approval.
    - For municipal securities, all material information must be disclosed at or prior to the time of trade.
    - Communications with senior investors require special care to avoid exploitation.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    4 min
  • Series 7 Exam Prep 95, Retirement and Rollover Recommendation Traps
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Why a rollover recommendation is a suitability determination under FINRA Rule 2111 and Regulation Best Interest.
    - How to compare 401(k) and IRA features, including fees, investment options, and services, to avoid common exam traps.
    - The critical differences between direct and indirect rollovers, focusing on the 20% withholding rule and the 60-day window.
    - Key distinctions in Required Minimum Distribution (RMD) rules between 401(k)s and IRAs, especially for clients working past age 73.
    - The importance of considering beneficiary designations and how rollover decisions can impact estate planning for spouses and non-spouses.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    5 min
  • Series 7 Exam Prep 94, Suitability Drill for Packaged Products
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - The suitability of mutual fund share classes (A vs. C) based on time horizon and investment amount.
    - Why placing a variable annuity inside an IRA is a major suitability violation.
    - The key differences in liquidity and pricing between ETFs, closed-end funds, and mutual funds.
    - The investor profile and primary benefits of illiquid investments like DPPs and non-traded REITs.
    - The unique tax treatments for REIT dividends and DPP pass-through losses.
    For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
    5 min

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