This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the Series 6 Exam.

In this episode you will learn:

- The core differences between passively managed index funds and actively managed funds.

- How Exchange-Traded Funds (ETFs) are created, structured, and traded on the open market.

- The "in-kind" redemption process and why it makes ETFs more tax-efficient than mutual funds.

- Key pricing distinctions for the exam: an ETF's intraday market price versus a mutual fund's end-of-day Net Asset Value (NAV).

- How fund expenses, turnover, and trading costs are tested on the Series 6 exam.

For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818