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Series 65 Practice Exam 1

Series 65 Practice Exams

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Series 65 Practice Exam 1

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Question 1 of 10

1. Question

One of your IA clients plans to start a new business. He and several associates wish to have limited liability and flow through tax benefits, yet have control of the enterprise. Which of the below would meet these objectives?

LLC
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Limited Partnership
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General Partnership
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C Corporation
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Correct

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Question 2 of 10

2. Question

Which of the following debt instruments would not initially be offered at a discount?

commercial paper
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negotiable CD
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T-bill
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STRIPS
Correct Incorrect Correct answer

Correct

Incorrect
Question 3 of 10

3. Question

When the market value of the long position in a client’s margin account deteriorates to the point at which additional equity is required, the demand for additional funds is referred to as:

an equity demand.
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a margin call.
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a maintenance call.
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a Reg. T call.
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Correct

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Question 4 of 10

4. Question

In a research report provided to a client discussing the credit markets, there is a graph which shows the comparative yields on US Treasury securities of varying maturities. If the graphic depiction appears to be sloping downward, analysts describe this as:

an ascending yield curve.
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a downward sloping yield curve.
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a descending yield curve.
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an inverted yield curve.
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Correct

Incorrect
Question 5 of 10

5. Question

A family balance sheet would show which of the following?

I.     personal property

II.    real estate

III.   depreciation

IV.   mortgage

all of the above
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I only
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II and IV
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I, II and IV
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Correct

Incorrect
Question 6 of 10

6. Question

Which of the below properly represents the formula for the Sharpe Ratio?

beta minus alpha, divided by standard deviation
Correct Incorrect Correct answer

actual return minus risk-free return, divided by standard deviation
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discounted cash flow divided by investment’s cost basis
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internal rate of return divided by S&P 500 Index rate of return
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Correct

Incorrect
Question 7 of 10

7. Question

Which of the below are considered securities?

401(k) plan
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403(b) plan
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Both A. and B.
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529 plan
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Correct

Incorrect
Question 8 of 10

8. Question

Which of the following debt securities would likely have the longest duration?

8% debentures due in 20 years
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6.5% collateral trust certificates due in 21 years
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6.0% US Treasury Bonds due in 24 years
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Zero coupon bonds maturing in 22 years
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Correct

Incorrect
Question 9 of 10

9. Question

Though there are several methods of hedging a short stock position, the method below which is considered the most effective hedge would be the:

short put.
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long put.
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long call.
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GTC stop order.
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 10

10. Question

Under the Investment Advisers Act of 1940, Form ADV-E is generally used:

by advisers to make disclosure of their investment policies.
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by advisers which have custody of customer assets.
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by advisers who wish to file their registration forms Electronically.
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by advisers who wish to change from state covered to fed covered.
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Next: Series 65 Practice Exam 2

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