Series 65 Practice Exam || with Complete Solutions.
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Course
Series 65 Practice
Institution
Series 65 Practice
Upon reaching he age of 72, required minimum distributions (RMDs) do NOT have to be taken by retired individuals who are participants of correct answers ROTH IRAs
Individuals who pass the Series 65 Exam will be able to tell prospects that correct answers they passed a 130-question examination in...
Series 65 Practice Exam || with Complete Solutions.
Upon reaching he age of 72, required minimum distributions (RMDs) do NOT have to be taken
by retired individuals who are participants of correct answers ROTH IRAs
Individuals who pass the Series 65 Exam will be able to tell prospects that correct answers they
passed a 130-question examination in order to qualify as investment adviser representatives
Fiscal policy, as implemented by Congress and the administration entails correct answers
changing tax rates, running a budget deficit, increasing military spending
Most states have replaced the Uniform Gift to Minors Act (UGMA) with the Uniform Transfers
to Minors Act (UTMA). One of the major advantages of UTMA is correct answers greater
flexibility in the choice of investments
A client with a bearish outlook on a particular stock would be able to benefit from taking which
of the following actions? correct answers Selling the stock short
In order to make a quantitative evaluation using the present value computation, which of the
following is NOT needed? correct answers account value at the beginning of the period
An investor has many tax preference items. Computing the investor's income tax using the
regular method results in a tax burden of $29,900 while computing the alternative minimum tax
(AMT) results in a tax liability of $27,500. Based on this information, the investor's income tax
liability for the year is correct answers $29,900
One of the purposes of filing the annual updating amendment to the Form ADV Part 1A is to
correct answers verify that the investment adviser still qualifies for SEC registration
Which of the following items do NOT fall within Section 28(e) safe harbor? correct answers
software used to simplify the investment adviser's preparation of its tax returns
Which of the following forms of joint ownership is most associated with ownership of real
estate? correct answers Tenancy by the entirety
An investor would be entitled to a breakpoint on quantity purchases made together with all of the
following accounts except correct answers his brother with whom he regularly shares investment
ideas
An advisory client is interested in learning more about municipal bonds. Which of the following
statements are correct?
I. General obligation bonds are usually, but not always, safer than revenue bonds
II. Interest received on municipal bonds is generally free of both federal and state income taxes
, III. Municipal bonds are usually suitable for investors in higher tax brackets
IV. The coupon yield on AAA rated municipal bonds will generally be slightly higher than that
of AAA corporate binds with comparable maturity correct answers I and III
One of your clients has a marginal tax rate of 32%. The 35% tax bracket beings in another
$30,000 of income. Should the client receive a bonus of $50,000, the federal income tax due on
that would be correct answers $16,500
Which of the following risks would most likely be minimized through portfolio diversification?
correct answers credit risk
If a portfolio manager wished to reduce inflation risk, which of the following would be most
appropriate to add to the portfolio? correct answers tangible assets
It would be considered an unethical business practice for a state-registered investment adviser to
correct answers claim that advisory fees are negotiable but maintain a fixed fee schedule
The Uniform Securities Act provides civil penalties in the event of illegal activities of broker
dealers and their agents. Under the act, a purchaser would not be entitled to claim correct
answers the original consideration paid for the security or the current market value, whichever is
greater
One form of commodity investing is the purchase of precious metals. An investor in precious
metals would be least likely to purchase correct answers molybdenum
only precious metals are gold, silver, platinum, and palladium
As specified in the Dodd-Frank Act of 2010, which of the following would NOT qualify for the
private fund exemption? correct answers An investment adviser who limits her advisory clients
to insurance companies
In the over-the-counter market, the person who performs the dealer function that a DMM is
responsible for on an exchange is correct answers the market maker
Under the Uniform Securities Act, all of the following persons with no place of business in the
state are exempt from registration as an investment adviser except correct answers advisers who
have conducted business with no more than sex clients, other than institutions, in the state within
the past 12 months
A technical analyst who has been charting the common stock of KISS would most likely sell
KISS stock short when the market price of the stock is correct answers below the support level
When an investor who is reviewing a brokerage account asks what else she could have done with
her money, the investor is asking about which risk? correct answers Opportunity risk
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