Series 65 Help and Training for the Series 66 Exam

The difficulty level for the Series 65 Exam is comparable to that of the Series 7 Exam but some students find the 65 especially challenging.  Do the people taking the Series 65 Exam have less experience than those taking the Series 7 Exam?  Actually, the opposite is probably true. Then, what is the deal here? There are a few factors that work against the Series 65 test takers but most importantly, they don't have as much motivation to pass the test compared to people taking the Series 7 Exam.  For many people taking the Series 7 Exam, they need to pass( sometimes on the first try) to stay employed.  Series 65 test takers don't usually have this issue.  Students taking the Series 65 Exam need to find the motivation to study and should approach the test as if their job is on the line.  This is where a Series 65 Tutor can very helpful.  Not only will the tutor help you understand difficult concepts but at the same time, a Series 65 Tutor can help motivate student to study.  

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There are some very complicated formulas that are covered on the Series 65 and Series 66 Exams.  Without a background in finance, it might be difficult to calculate the net present value (NPV) or the internal rate of return (IRR) of a project. Then there is the capital asset pricing model  (Er = rf + b(rm-rf) and a few other challenging ones such as modified duration. Well, the good news is that the probability of having to calculate something like NPV is very low.  I can teach you how to do it but we would likely be wasting our time.  The calculator you get to use is very limited.  You cannot even raise a number to a power!  Much more importantly, you need to know how to identify stuff. In other words, you need to know the hows, the whens and the whys of these formulas. 

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Series 65 Exam Students should make sure they are familiar the changes to the Private Adviser Exemption, especially at the Federal level. There is also a state level model rule that address the issues.  Here is some background and a summary of some of the changes at the Federal level

Advisers to private funds largely avoided registering with the SEC because of an exemption that applies to advisers with fewer than 15 clients – Each Fund counted as a client.  This broad exemption was eliminated.

Exemptions were added but they are more targeted and are listed below:

• Advisers to venture capital funds.
• Advisers to private funds with less than $150 million in assets under management in the U.S.
• foreign advisers without a place of business in the US and fewer than 15 clients and  private fund investors and less than $25 million in assets under management from US clients and private fund investors

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