SERIES 66... Seriously?

62 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.

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