Skip to content

Series 66 Practice Exams
Other Practice Exams
- SIE
- Series 3
- Series 4
- Series 6
- Series 7
- Series 9
- Series 10
- Series 24
- Series 26
- Series 57
- Series 63
- Series 65

Series 66 Practice Exam 1

Series 66 Practice Exams

Practice Exam 1
Practice Exam 2
Practice Exam 3
Practice Exam 4

Series 66 Practice Exam 1

Time limit: 0

Quiz Summary

0 of 10 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Exam complete. Results are being recorded.

Results

0 of 10 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Not categorized 0%

Next Exam Main Menu

Question 1 of 10

1. Question

The principal difference between a listed REIT and an unlisted REIT is:

the liquidity to the investor
Correct Incorrect Correct answer

the liquidity to the investor
Correct Incorrect Correct answer

the liquidity to the investor
Correct Incorrect Correct answer

the liquidity to the investor
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 10

2. Question

The phase of the business cycle immediately preceding recovery is:

the trough
Correct Incorrect Correct answer

the peak
Correct Incorrect Correct answer

contraction
Correct Incorrect Correct answer

expansion
Correct Incorrect Correct answer

Correct

Incorrect
Question 3 of 10

3. Question

When the long end of the yield curve is yielding a similar return to the intermediate and short end of the curve, analysts describe this as a:

normal yield curve
Correct Incorrect Correct answer

positive yield curve
Correct Incorrect Correct answer

inverted yield curve
Correct Incorrect Correct answer

flat yield curve
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 10

4. Question

Variable life insurance has a number of similarities to the variable annuity. Among those would be:

guaranteed cash value
Correct Incorrect Correct answer

tax free proceeds to beneficiary upon death of the insured
Correct Incorrect Correct answer

money deposited into a separate account
Correct Incorrect Correct answer

all of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 5 of 10

5. Question

Under the USA, when an Administrator wishes to conduct an inspection of an office of a broker-dealer or IA,

he may do so without prior notice
Correct Incorrect Correct answer

he is required to give at least 5 business days advance notification
Correct Incorrect Correct answer

he is required to give at least 3 business days advance notification
Correct Incorrect Correct answer

none of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 10

6. Question

Under the Investment Advisor Act of 1940, exclusions from the definition of investment adviser include:

lawyers
Correct Incorrect Correct answer

accounts
Correct Incorrect Correct answer

teachers
Correct Incorrect Correct answer

all of these
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 10

7. Question

The Brochure Rule applies to:

all business entities operating as registered investment advisers
Correct Incorrect Correct answer

all broker-dealers with the exception of sole proprietorships
Correct Incorrect Correct answer

both A and B
Correct Incorrect Correct answer

neither A nor B
Correct Incorrect Correct answer

Correct

Incorrect
Question 8 of 10

8. Question

When an IA fills a client order to buy as principal:

this is permitted.
Correct Incorrect Correct answer

this is permitted so long as the client is provided with full disclosure.
Correct Incorrect Correct answer

this is permitted only with consent from the Administrator.
Correct Incorrect Correct answer

this is considered a violation of state and/or federal law.
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 10

9. Question

If the projected return of a portfolio is that over the next 12 months, there is a 40% likelihood it will return 15%, there is a 30% likelihood it will return 8%, and there is a 30% likelihood it will return minus 5%, what is the expected return of this portfolio over the next 12 months?

6.9%
Correct Incorrect Correct answer

9.9%
Correct Incorrect Correct answer

18.0%
Correct Incorrect Correct answer

Not enough information to determine
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 10

10. Question

When looking at an investment grade debt instrument with a 15 year maturity, the risk to which it has the greatest exposure in the early years of holding the investment is:

credit risk
Correct Incorrect Correct answer

inflation risk
Correct Incorrect Correct answer

non-systematic risk
Correct Incorrect Correct answer

interest rate risk
Correct Incorrect Correct answer

Correct

Incorrect

1
2
3
4
5
6
7
8
9
10

Next: Practice Exam 2

Disclaimer: FINRA®, SIE®, and Securities Industry Essentials® are trademarks of the Financial Industry Regulatory Authority (FINRA). This website is not affiliated with, endorsed by, or approved by FINRA. All trademarks are the property of their respective owners.

© 2025 FINRA Practice Tests • Built with GeneratePress