Specific? for someone who used STC 66
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Hi guys I'm in panic mode and after studying a week for the 66 I dont think I am copletely prepared. I have read through the book twice and am taking practice all day today.
I am attempting to put my focus on the Blue Sky laws since it is ~50 questions. From the chapter headings it seems unclear what chapters talk specifically about blue sky. Isn't everything USA act related same as blue sky or am I all mixed up? I am taking the topic tests as well and these are the categories:
Starting an Investment Advisory Business Duties of Investment Advisers Investment Advisers Act of 1940 Portfolio Management and Investment Risk Retirement Planning The Uniform Securities Act: Overview The Uniform Securities Act: Registration of Securities The Uniform Securities Act: Registration of Financial Professionals The Uniform Securities Act: Fradulent and Unethical Practices Administration of the Uniform Securities ActFederal Acts
Please advise.
How r u doing on the practice exams?
If you have not memorized the questions, and are consistently scoring 80% –85% you should be ok.
Be sure you know the differences between state and federal regulations etc. I would suggest knowing the section regarding posting surety bonds for broker/dealers, investment advisors, i.a. representatives, etc. I think that will be on the test. In the ethics questions, make sure you choose the answer that is the best, meaning best for the client, but sometimes, its tricky.
I took the 66 yesterday. The only study materials that I used were STC. Even though I didn’t give much effort to studying for the 66, I felt like I knew the material fairly well. My STC scores were only in the low 80s but most of the mistakes I was making were silly mistakes which would have been avoided if I were focusing as if I were taking the real exam. Considering I was scoring in the mid 70s on the 7 practice exams and I scored in the 90s on the actual exam, I was very confident walking into the 66. It was not until about 1/2 of the way through the actual exam that my confidence started to wane. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
In my opinion, at least 1/3 of the questions are common sense which someone should be able to get right even if they did zero studying. Another 1/3 are easy questions that you should be able to get right if you did any basic level of studying. Of the remaining 1/3, about 1/2 of those are tricky questions where you really need to know the material to get them correct, mostly because of the way in which the questions and answers were phrased. While my 85% was in line with the STC practice tests, I do not feel that the way the STC questions and answers were phrased were in line with the actual exam. My suggestion is that someone taking the 66 should know the material as opposed to trying to find tricks or methods.
--WM