Series 66 study plan

Compute and interpret GDP, CPI, PPI, unemployment, and consumer-sentiment readings, and classify each indicator as leading, coincident, or lagging.

Contrast monetary policy with fiscal policy and predict how a change in the discount rate, reserve requirements, or tax rates transmits to equity and bond prices.

Convert nominal returns to real returns using the Fisher relationship, and compute an inflation-adjusted portfolio return for a two-year holding period.

Sequence the phases of the business cycle and match each phase to the sectors and security types that historically outperform in it.

Read an income statement, balance sheet, and statement of cash flows and compute current ratio, quick ratio, debt-to-equity, and inventory turnover from the figures.

Distinguish authorized, issued, outstanding, and treasury shares, and compute book value per share and both basic and diluted EPS.

Classify common and preferred equity by investment objective (growth, income, value, cyclical, defensive) and name the principal risk each category carries.

Trace a new issue from the primary market through the secondary market, identifying the roles of the underwriter, transfer agent, and clearing firm.

Calculate current yield, approximate yield to maturity, and the estimated price change for a given rate move using duration.

Rank Treasury, agency, municipal, corporate, and convertible bonds by credit risk, interest-rate risk, and tax treatment, and justify each ranking.

Compute breakeven, maximum gain, and maximum loss for calls, puts, rights, and warrants from both the buyer's and the writer's position.

Differentiate open-end funds, closed-end funds, unit investment trusts, ETFs, and hedge funds by pricing mechanism, fee structure, and liquidity.

Differentiate fixed, variable, and indexed annuities and identify the suitability and tax-treatment differences among them.

Describe the liquidity, valuation, and concentration risks of REITs, direct participation programs, commodities, and private placements, and match each to an appropriate client profile.

Identify the registration categories and exemptions under the Securities Act of 1933 that matter to retail recommendations, including Regulation D, Rule 144, and intrastate offerings.

Differentiate the jurisdiction and enforcement role of the SEC, FINRA, MSRB, and state securities administrator for a given fact pattern.

Apply the Uniform Securities Act definitions of security, agent, broker-dealer, investment adviser, and issuer to at least ten short fact patterns.

Distinguish federal-covered investment adviser registration from state registration, and apply the de minimis threshold and private-adviser exemption numerically.

Recite the exempt-securities and exempt-transaction categories from memory and identify which still require notice filing.

Identify prohibited practices (market manipulation, unauthorized trading, unsuitable recommendations, undisclosed conflicts) in scenario form and name the rule violated.

Compute the after-tax outcome of short-term versus long-term capital gains, apply the wash-sale adjustment, and calculate the tax-equivalent yield of a municipal bond.

Apply customer identification, anti-money-laundering, and privacy requirements to new-account opening and suspicious-activity scenarios.

Compute margin requirements for long and short equity positions and explain the investor consequences of a maintenance call.

Infer a client's risk tolerance, time horizon, and liquidity needs from a written fact pattern and select an asset allocation that fits.

Draft an investment policy statement from a client profile, stating return objective, risk tolerance, constraints, and a rebalancing policy.

Compare strategic, tactical, and constant-weight rebalancing approaches and justify a selection for three different client objectives.

Evaluate the suitability of annuity, life insurance, and employer retirement plan recommendations against specific client situations and tax brackets.

Compute retirement funding needs, education funding needs, and required portfolio return using time-value-of-money calculations.

Complete two timed 100-question practice exams covering all four domains under exam conditions.

Re-teach and re-test the 20 highest-frequency missed concepts carried forward from the week 2, 4, and 6 error logs.

Recite from memory the adviser and agent registration thresholds, the exempt-securities list, and the prohibited-practices list.

Consolidate all formulas and recurring trap patterns onto a single final summary sheet for last-day review.