SAC General Business Evaluation study plan

Map the regulatory architecture by writing a one-page diagram linking the SEC, FINRA, MSRB, state regulators, and SROs to the activities each oversees.

Distinguish registration versus licensing requirements by listing which roles (agent, investment adviser representative, broker-dealer) trigger which filings.

Define the core prohibited practices under the antifraud provisions and match each to a concrete fact pattern you write yourself.

Identify the primary market versus secondary market functions and explain how underwriters, market makers, and exchanges each fit.

Explain market structure mechanics including order routing, best execution, and the role of ATSs and dark pools.

Outline the AML program pillars and describe how a firm detects structuring, layering, and third-party laundering typologies.

Draft a suspicious activity escalation memo for a hypothetical client whose deposits do not match stated income.

Summarize insider trading prohibitions and the concept of materiality using an original scenario.

Build a suitability decision tree that walks from client objectives and risk tolerance to a recommended account type.

Compare account registrations (individual, joint with rights of survivorship, tenants in common, custodial, trust, corporate) and state the tax and control consequences of each.

Contrast traditional, Roth, and rollover IRA rules on contribution limits, deductibility, distributions, and required minimum distributions.

Explain basic estate mechanics including intestate succession, beneficiary designations, and the role of probate.

Distinguish common, preferred, and treasury stock rights, and compute dividend and liquidation priority in a worked example.

Price a bond from coupon, yield, and maturity inputs and explain the inverse price-yield relationship with a numeric illustration.

Classify municipal, corporate, and government debt by credit risk, tax treatment, and call features.

Apply know-your-customer and suitability documentation standards to a new account opening packet you assemble.

Differentiate open-end funds, closed-end funds, and ETFs on pricing, trading, and fee structure.

Compare variable annuities, fixed annuities, and life insurance products on cost, surrender charges, and tax deferral.

Explain option basics: calls versus puts, intrinsic versus time value, and the payoff at expiration for buyer and writer.

Describe alternative investments including REITs, limited partnerships, and hedge fund structures, noting liquidity and accreditation constraints.

Trace the trade lifecycle from order entry through execution, clearing, and settlement, naming the parties at each step.

Distinguish market, limit, stop, and stop-limit orders and state when each is appropriate.

Explain the regular-way settlement timeline for equities and the mechanics of margin and short selling.

Compute the profit or loss on a covered call and a protective put at three expiration prices.

Apply ethical standards to conflict-of-interest, gift and entertainment, and outside business activity scenarios.

Explain fiduciary versus suitability standards and identify which applies in which relationship.

Describe estate transfer tools including powers of attorney, joint ownership, and trusts, and when each is used.

Review tax-advantaged account distribution rules and penalties for early withdrawal exceptions.

Re-audit every domain using your logged missed questions and rewrite each weak concept in one sentence.

Complete two timed full-length practice assessments under exam conditions.

Drill calculation-heavy topics (bond math, option payoffs, margin) until each is solved without notes.

Build a one-page final review sheet covering rules, limits, and settlement timelines you repeatedly miss.