SERIES 66... Seriously?

66 replies [Last post]
Maytc1672's picture
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Joined: 2014-05-01

I used Training Consultants and studied for 6 weeks and just took the test 1 week ago and got an 83%. Everything about their program was great! Their online program is very easy to use and their book is about 1/4 the size of Kaplan.
I am now selling my Training Consultants Series 66 book and online login to pass along to anyone interested. The book literally is like-new, it has no markings of any kind since I did all my note taking in a notebook. I can also give you my online login for the TC website so you can complete all the practice Q's. Please comment back to me on here and let me know if you're interested in the study materials!

eyeh8options's picture
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Joined: 2014-02-18

It took me two attempts to pass the 7 but I did on my second try. I had very limited time to pass the 66 and I missed it by 5 pts today. I don't know if they will give me a second shot at it but the thing that kills me is that I didn't think the test was that bad. I did pretty good on the law/regs portion of it but not so hot on the suitability/recommendation portion, go figure.

gekko the great's picture
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Joined: 2013-11-08

Given the data supporting people who fail Series 7 and 66 tests in correlation with FINRA complaints I could see them changing the rules to if you fail the test you must wait a year to retake.

Honestly if you aren't able to pass the 7 and 66 on your first try, you aren't ready to be in the industry. I have yet to meet an advisor who has entered the industry in the last 4 years and failed either test and is still in the industry.

eyeh8options's picture
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Joined: 2014-02-18

Sorry Gekko but I don't buy into that theory as a generalization. I know many people who passed those exams with flying colors that couldn't last more than 2 years in the industry. Firm's have compliance dept's for a reason and if a person has superb people skills, with the ability to listen first, provide suitable recommendations, and be influential in terms of report and building a book then the sky is the limit.

njb7702's picture
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Joined: 2014-05-21

Just passed the 7 with Kaplan, but looking for a better 66 option. Anyone using apps on their phone to study?

gsmith19's picture
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Joined: 2014-03-21

I have written almost all of the Securities exams in my long career history in the securities industry. Many people don't realize that once you are registered in the state of Illinois with a series 65, you will never have to rewrite the exam again, unlike most of them which expire after two years if you don't use them.

gsmith19's picture
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Joined: 2014-03-21

I have written almost all of the Securities exams in my long career history in the securities industry. Many people don't realize that once you are registered in the state of Illinois with a series 65, you will never have to rewrite the exam again, unlike most of them which expire after two years if you don't use them.

gekko the great's picture
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Joined: 2013-11-08

eyeh8options wrote:
Sorry Gekko but I don't buy into that theory as a generalization. I know many people who passed those exams with flying colors that couldn't last more than 2 years in the industry. Firm's have compliance dept's for a reason and if a person has superb people skills, with the ability to listen first, provide suitable recommendations, and be influential in terms of report and building a book then the sky is the limit.

What you are describing is a salesperson, not an Advisor.

In addition, I did not say that people who pass the tests are guaranteed to be successful (I've seen plenty of those bomb out too) I'm saying people who struggle passing these entrance exams have shown a higher statistical probability of disciplinary and complain issues from clients. A lot of this still stems from not fully understanding the markets and the financial products the firms are pushing them to sell.

Firms are wanting you to have clients entrust their money with you, I personally think there needs to be a higher standard for allowing people this responsibility.

Mike Langford's picture
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Joined: 2014-05-21

One of the most important things I learned a long time ago, when I was studying for the GMAT, about taking standardized tests is that "how you take the test" is just as important as your knowledge of the material.

Techniques like eliminating answers that are obviously wrong from consideration, for example, give you improved odds and increased confidence on tough questions.

As for test prep solutions, I used "Pass the 65" years ago and found it to be a great approach of mixing audio test prep and print test prep. They have a "Pass the 66" as well. http://www.passthe66.com/

jwhalen44's picture
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Joined: 2014-08-19

I've heard a lot of suggestions as to what is the best study material for the 66. I used STC for both the 7 and the 66 and although I passed each exam on the first attempt, I did not feel that STC was the best for the 66. There was a lot of information that I had simply never heard of. Sometimes there are keywords that you know you have seen before and can't think of what they entail; but today taking the 66 there were words I had never seen before. I pressed the submit button already planning out my study plan for the month ahead of me and was suprised when I saw the 77. Although with these exams one does have a tendency to remember all the questions you struggled with and forget all the question that were a breeze.

I keep hearing the smart 66 program is the best. Not only does it come up in forums, but I have also received recommendations from friends. The 66 is a difficult exam and I took it right after the 7 and was probably a little sick of taking exams. I just wish each exam on STC wasn't 110 questions; it really is a mental marathon if your firm is monitoring you and you must complete the full study plan.

And Gekko the great, where do you get the research supporting your correlation with complaints and fail rates? I am actually just curious, I would be very interested in seeing stats like that.

gekko the great's picture
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Joined: 2013-11-08

And Gekko the great, where do you get the research supporting your correlation with complaints and fail rates? I am actually just curious, I would be very interested in seeing stats like that.[/quote]

There was an article earlier this year in Wall St Journal that talked about the correlation. I don't have the link anymore but you can probably find it via Google search.

Zeppelin11's picture
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Joined: 2014-11-11

Passed the 7 using Pass Perfect and for some reason my firm switched to Exam FX for the 66. Failed the exam twice using that program and am super disgruntled. I think the reason for the switch was cost, but really? the programs garbage. I started studying for the 66 right after I passed the 7 and thought material seemed pretty easy. So I went into the exam very confident. I got a 71% which I was surprised by. I had been getting 85%avg on the practice tests. So I gave it a go for a second time using the same materials and went over all of it again. Took the test again and got a 68%! I couldn't believe it. There were so many terms and concepts not covered in Exam FX. I was pretty furious (and still am since I took the exam last Thurs).
I have been reading about different study programs and have nailed in down two: Pass Perfect 66 (Kier) or Training Consultants.
I've heard good and bad about both, so not sure which one to purchase. I'm leaning towards Pass Perfect since I had success on the 7 and am familiar with the testing style (it hammers the info into you by repeating question categories until you finally get it).

mstudy's picture
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Joined: 2011-10-05

I would go with the materials you think would be more challenging. I think it is better to use programs with more information and difficult questions

financeguy2014's picture
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Joined: 2014-10-17

If I have TC, and have already passed, what do I do with my remaining time substantial time with the program? Please pm your answers. This is for the 66.

LCJ's picture
LCJ
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Joined: 2014-12-02

The keys to Kaplan are the live classes and the QBank. You must utilize the QBank and run through 1,500+ questions. The live teacher "cram courses" are necessary reinforcements. You must take the test within 2 weeks of the live course.

Used only Kaplan materials and live class (Randy Bauer):

83% on Series 7 (September 2014)
78% on Series 66 -Do not take this test lightly. People who say it is easy have not taken it recently. The passing threshold is now 75% and the content is harder than the Series 7.

1/2 of the 66 is laws. I have seen crazy stuff on the Series 66 practice exams such as Totten Trust laws, Polish exchange rates, and Whiskey receipts. Obviously, they have to throw in some option short hedging strategies and breakeven points on protective put options.

Don't expect to waltz into the 66 and pass. The NASAA is making this exam hard to pass.

joeoz77's picture
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Joined: 2014-12-04

If anyone needs TC practice exams or STC study guide please PM me, I'd be happy to sell for cheap! Practice exams are good for 2 more months. Thanks.

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