Series 66 case studies
Series 66 · Put your knowledge to work in context.
The Series 66 - formally the Uniform Combined State Law Examination - is a NASAA-administered qualification exam used by U.S. states to license professionals who work with individual clients on both the securities and investment advisory sides of the business. The Series 66 case studies are 5 cases and about 4,855 words.
1The Inverted Curve, the Floating-Rate Guarantee, and a Client Who Wants to 'Lock In'
Your client Dana, 58, owns a precision-parts manufacturer and a 1.4 million personal portfolio: 600,000 in a five-year Treasury ladder averaging 4.15%, 450,000 in a listed REIT fund, and 350,000 in a money market fund. Over eighteen months the Federal Reserve raised the target rate 500 basis points.
842 words, about 4 min2The Municipal Beats the Corporate by Three Basis Points - and Only Because of the State
Marcus and Elena, both 54, file jointly, sit in the 32% federal bracket, pay 5% state income tax, and have MAGI well above the net investment income tax threshold. Their retirement accounts are already filled with taxable bonds, leaving $400,000 to invest in the taxable account.
863 words, about 4 min3Sell Everything: A Widow, a 22% Drawdown, and a Disabled Son
Priya, 67, was widowed fourteen months ago. She has 2.1 million in an IRA, 400,000 in a taxable brokerage account, and a 650,000 house owned free and clear.
990 words, about 5 min4Leaving the Wirehouse: The Client List, the Brother-in-Law, and the Hamper
Devon has been a registered representative at a FINRA member broker-dealer for eleven years and leaves next month for an independent RIA. Her current firm is a signatory to the Broker Protocol; the new firm is not.
1,037 words, about 5 min5The Nevada Wire, the Shaky Signature, and a 21% Cost-to-Equity Ratio
Arun, 81, has been your client for nineteen years. His wife died nine months ago.
1,123 words, about 6 min