Series 66 Exam- Is it really that bad?
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Hi,
I've read posts on this firm off and on since I started as an FA trainee. I've already passed my 7 (with and 85% and finished 2 hours early) and have been studying for ~3 weeks for the 66. I've heard bad things about the 66. I know passing the 7 doesn't mean you'll pass the 66. The small math & various risk portion of the 66 is very easy for me since I did most of that in college. I've been using Fire Solutions and getting around an 80% on their final exams. The only thing that trips me up, most of the time, are the exemption & time frame questions. Who is exempt, are these securities exempt, does this firm doing such and such have to register, will this issuer be registering by filing or qualification, this must be reported to the admni within X days and so on. Triple negatives aren't fun either, but I've gotten used to translating them.
Is this the majority of the test? Passing is 75%+, right?
Any tips would help!
Some of the companies that make the material, go into WAY TOO MUCH DETAIL- which essentially makes the 66 hard. There are only 110 questions, so when they go into detail about stuff that really doesn't matter, it makes it more difficult. I know that sounds weird, but I used STC, Kaplan, and Training Consultants. I know now, after taking the test and passing with an 88. I wasted a LOT of energy and time even LOOKING at STC! Kaplan was somewhat helpful but again, went into wayyyy too much detail. You can pass studying with any of the material, but why waste time studying extra material you won't even see? Seems like a big waste of time. Training Consultants was SPOT ON, and they even had EXACT test questions from their practice exams. I am pretty sure if I hadn't looked at Training Consultants stuff, I might not have passed- especially not with an 88. All the material WORKS, it just depends on how you retain information and if you are given too much information, if you are able to decipher what they really want you to know.
Not that bad, its more common sense than anything, most people say the 66 is harder, but I found it easier, just keep taking practice exams and you will be fine! There are some questions that do ask who is suppose to register with who, passing is 75%, but if what you say is correct, you will do fine.