Simulado Series 66
- 15 questões
- Cerca de 15 min
- Grátis
As perguntas do teste continuam em inglês.
Complete the sentence.
Escolha a palavra que completa a frase.
Estuda com suas próprias anotações? Criar meu simulado
Sobre este teste
Este é um simulado grátis de 15 questões para o Series 66, escrito pela equipe da StudyPDF com base no conteúdo programático publicado pela NASAA para o Uniform Combined State Law Examination. O Series 66 mistura a lei estadual de valores mobiliários com temas de consultores de investimentos, então as questões cobrem o registro de consultores e de representantes, a comunicação com clientes, práticas éticas, perfis de clientes, noções de planejamento sucessório e alguns produtos e índices. Você vai encontrar múltipla escolha, marcar todas as corretas e completar a lacuna. Responda as 15 questões, depois veja sua pontuação e leia a explicação de cada uma. Nada aqui é orientação jurídica, tributária nem de investimentos.
Todas as 15 questões de uma vez
Prefere ler antes de jogar? Todas as questões da amostra estão listadas abaixo. As respostas e as explicações ficam fechadas até você abrir.
1.Complete the sentence.
A company has current assets of 900,000 dollars, of which 300,000 dollars is inventory, and current liabilities of 400,000 dollars. Its current ratio is _____ and its quick ratio is _____.
Opções para a lacuna 1: 1.50, 2.25, 3.00, 0.44
Opções para a lacuna 2: 1.50, 2.25, 0.75, 3.00
Resposta: 2.25, 1.50
The current ratio is current assets divided by current liabilities: 900,000 / 400,000 = 2.25. The quick ratio takes inventory out first, because inventory can be slow to turn into cash: (900,000 - 300,000) / 400,000 = 1.50. The 3.00 option adds the inventory to current assets instead of taking it out, and 0.44 turns the current ratio upside down. A quick ratio above 1 means the company can cover its short-term bills without selling inventory.
2.An investor buys an exchange traded note (ETN) linked to a stock index. Which statement about the ETN is correct?
- A. It is a fund that holds the index stocks, so the investor owns the underlying shares
- B. It is an unsecured debt obligation of the issuer, so the investor also carries the issuer's credit risk
- C. It is backed by deposit insurance, so the investor cannot lose principal
- D. It pays a fixed coupon and returns the note's face value at maturity whatever the index does
Resposta: B. It is an unsecured debt obligation of the issuer, so the investor also carries the issuer's credit risk
An ETN is a debt instrument. The issuer, usually a bank, promises a return tied to an index minus fees, but it holds no basket of securities for the investor. That is the difference from an ETF, which owns the underlying assets. If the issuer's credit deteriorates or it fails, the note can lose value or be worth nothing even when the index is up. There is no deposit insurance on it, and any coupon is not the fixed, guaranteed kind a plain bond pays.
3.A client bought a stock at 50 and it now trades at 58. She wants to protect part of her gain and enters a sell stop order at 54. Which statement is correct?
- A. Once the stock trades at or below 54, the order becomes a market order, so the sale can happen below 54
- B. The order guarantees that the stock will be sold at exactly 54
- C. The order becomes active when the stock rises to 54
- D. The order becomes a limit order at 54 as soon as it is triggered
Resposta: A. Once the stock trades at or below 54, the order becomes a market order, so the sale can happen below 54
A sell stop sits below the current price and is triggered when the stock trades at or below the stop price. Then it turns into a market order, which fills at the next available price. In a fast drop that can be under 54, so a stop controls when you sell and not at what price. A sell stop limit order is the version that turns into a limit order, and it can end up not filling at all. A buy stop is the one that waits for the price to rise.
4.While building a client profile, which item belongs on the client's balance sheet and not on the client's cash-flow statement?
- A. The client's monthly take-home salary
- B. The client's yearly spending on vacations
- C. The 210,000 dollars the client still owes on a mortgage
- D. The monthly premium on the client's car insurance
Resposta: C. The 210,000 dollars the client still owes on a mortgage
A balance sheet is a snapshot at one date: what the client owns (assets), what the client owes (liabilities), and the difference, which is net worth. The mortgage balance is a liability. A cash-flow statement tracks money moving in and out over a period, so salary, vacation spending and insurance premiums go there. An adviser needs both, because the balance sheet shows what the client has to work with and the cash flow shows how much can be saved or spent without strain.
5.A grandfather opens a UTMA account for his granddaughter, funds it with stock and later asks the custodian to give him the money back. Which statement is correct?
- A. He can take the assets back at any time because he paid for them
- B. The assets belong to the custodian until the child reaches 18 in every state
- C. The assets stay in his estate until he dies, then pass to the child
- D. The gift is irrevocable and the assets belong to the minor, with the custodian managing them until the age set by state law
Resposta: D. The gift is irrevocable and the assets belong to the minor, with the custodian managing them until the age set by state law
A UGMA or UTMA account is a completed, irrevocable gift to a minor. The minor owns the assets, the custodian manages them for the minor's benefit, and the donor cannot take them back. Control passes to the child at the age of majority or the age of termination, and the state sets that age, so it is not 18 everywhere. Because the child is the owner, the account can also affect financial aid and the child's tax picture.
6.Which of the following assets generally pass to heirs by beneficiary designation or transfer-on-death registration, outside the owner's will?
Marque todas as opções corretas.
- A. A life insurance policy with a named beneficiary
- B. A traditional IRA with a named beneficiary
- C. Stock in a brokerage account held in the owner's name alone, with no transfer-on-death registration
- D. A brokerage account registered with a transfer-on-death beneficiary
- E. A checking account in the owner's name alone with no payable-on-death designation
Resposta: A. A life insurance policy with a named beneficiary, B. A traditional IRA with a named beneficiary, D. A brokerage account registered with a transfer-on-death beneficiary
Assets with a named beneficiary or a TOD or POD registration pass directly to that person when the owner dies, and the will does not control them. That is why the beneficiary form on file matters more than a will written years earlier. Assets in the owner's sole name with no such designation, such as the plain brokerage and checking accounts here, usually go through probate and pass under the will, or under state law if there is no will. A common review step for an adviser is to compare the beneficiary forms with what the client wants today.
7.A portfolio's policy calls for 60 percent stocks and 40 percent bonds. After a sharp market decline, the manager temporarily moves to 70 percent stocks and 30 percent bonds because she believes stocks are undervalued, and she plans to return to 60/40 later. Which strategy is this?
- A. Strategic asset allocation
- B. Dollar-cost averaging
- C. Tactical asset allocation
- D. Passive indexing
Resposta: C. Tactical asset allocation
Strategic asset allocation sets long-term target weights from the client's goals and risk profile and sticks to them, rebalancing back to target. Tactical asset allocation makes short-term deviations from those weights to take advantage of a market view, with a plan to return. Dollar-cost averaging is investing a fixed amount at regular intervals, and passive indexing means tracking a benchmark without market calls. Tactical moves are a form of active management and can cost more in fees and taxes.
8.An investment adviser wants to charge a client a fee that is a share of the capital gains in the client's account. Which statement is correct?
- A. It is permitted for any client who signs a waiver of the performance-fee prohibition
- B. It is generally permitted only for a qualified client, meaning one who meets the net worth or assets-under-management tests in the SEC rule
- C. It is permitted for any client over a stated age
- D. It is permitted for any client as long as the fee is disclosed in the adviser's brochure
Resposta: B. It is generally permitted only for a qualified client, meaning one who meets the net worth or assets-under-management tests in the SEC rule
A performance-based fee, such as a percentage of capital gains or appreciation, is generally prohibited. The main exception is a qualified client, which the SEC rule defines through net worth and assets under management, and the dollar tests are adjusted over time, so look up the current numbers. A client cannot waive the protection, and disclosure alone does not make the fee legal. A flat fee or a percentage of the assets managed is not a performance fee, because it does not depend on gains. Check your state's version of the rule too.
9.Which of the following are investment advisers under the Uniform Securities Act, as opposed to persons it excludes?
Marque todas as opções corretas.
- A. A financial planner who charges a flat fee for a written plan that recommends specific securities
- B. The publisher of a bona fide financial newspaper of general and regular circulation
- C. A firm that sells subscriptions to a monthly report with buy and sell calls on individual stocks, as part of its regular business
- D. A broker-dealer agent whose investment advice is solely incidental to brokerage and who gets no special compensation for it
- E. A neighbor who occasionally shares stock ideas over dinner and charges nothing
Resposta: A. A financial planner who charges a flat fee for a written plan that recommends specific securities, C. A firm that sells subscriptions to a monthly report with buy and sell calls on individual stocks, as part of its regular business
The definition has three pieces: advising others about securities, doing it for compensation, and doing it as part of a regular business. The planner and the paid research firm meet all three, and issuing analyses or reports on securities for pay counts. The publisher of a general circulation publication is excluded, and so is a broker-dealer or its agent whose advice is solely incidental and carries no special compensation. The neighbor gets no compensation and has no business, so no. Federal law and your state's version list further exclusions and exemptions, so check them too.
10.An investment adviser representative of an SEC-registered firm works from an office in State B. She has 12 retail clients who live in State A, where she has no place of business. Which statement is correct?
- A. State A can require her to register because she has retail clients there
- B. State A can require her to register only if she visits the clients in person
- C. State A can require her to pass its own exam before she may keep those clients
- D. State A cannot require her to register as a representative, but it keeps its antifraud authority over her
Resposta: D. State A cannot require her to register as a representative, but it keeps its antifraud authority over her
Federal law lets a state require registration of a representative of a federal covered adviser only where that person has a place of business in the state, and only if the person meets the federal definition of an investment adviser representative. With no office in State A, State A cannot make her register, however many clients she has there. State B, where she works, is the state that can. No state loses its power to investigate and act against fraud. Representatives of state-registered advisers and the rules for the firm itself follow different tests.
11.An investment adviser representative is named in a written customer complaint alleging sales practice violations, and the complaint is the kind that Form U4 asks about. What should happen?
- A. The Form U4 should be updated promptly to disclose it, and hiding it can lead to discipline of its own
- B. Nothing is required unless the Administrator asks about it
- C. It is disclosed on the next annual renewal and not before
- D. It is disclosed only if a court later enters a final judgment against the representative
Resposta: A. The Form U4 should be updated promptly to disclose it, and hiding it can lead to discipline of its own
Registration is not a one-time event. The representative and the firm must keep the registration record current, and a reportable event such as a qualifying customer complaint has to be added to the Form U4 promptly, not saved for renewal. Waiting for a judgment is wrong because many reportable events are allegations, settlements or pending actions. Failing to disclose is itself a violation, and regulators treat it as seriously as the conduct behind it. The reporting thresholds and deadlines are in the form instructions and state rules, so look up the current ones.
12.Which of the following are prohibited in an investment adviser's communications with clients and prospects?
Marque todas as opções corretas.
- A. Showing only the three best-performing client accounts and leaving out the rest, as if they were typical
- B. Using an advisory contract clause that has the client waive rights under the securities laws
- C. Telling prospects that being registered with the state means the Administrator has endorsed the adviser's skill
- D. Giving a prospect a brochure that lists the adviser's fees
- E. Telling a prospect that past performance does not guarantee future results
Resposta: A. Showing only the three best-performing client accounts and leaving out the rest, as if they were typical, B. Using an advisory contract clause that has the client waive rights under the securities laws, C. Telling prospects that being registered with the state means the Administrator has endorsed the adviser's skill
Cherry-picked performance is misleading, because it leaves out facts needed to read it fairly. A clause that has the client give up rights under the securities laws is void and a prohibited practice, since a client cannot waive those protections. Registration only means the filing is on record and fees were paid. It is never an endorsement, and saying otherwise is an unlawful representation. A fee brochure and a past-performance caution are required or helpful disclosure, not violations.
13.An investment adviser representative serves an 83-year-old client who has always been sharp. Over two weeks the client becomes confused and asks to wire a large part of her account to a person she met online. What should the representative do first?
- A. Send the wire at once, because the client's instructions control in every case
- B. Raise it with a supervisor or compliance right away and, where the firm's policy and state law allow, contact the trusted contact person the client named and consider a temporary hold
- C. Call the client's neighbors and relatives to warn them, whether or not the client agreed to that
- D. Say nothing and wait, so the client is not offended
Resposta: B. Raise it with a supervisor or compliance right away and, where the firm's policy and state law allow, contact the trusted contact person the client named and consider a temporary hold
Sudden confusion plus an unusual transfer to a stranger is a classic red flag for financial exploitation. The representative should escalate to a supervisor or compliance and use the tools the firm has: asking the client for, or reaching, a trusted contact person named in advance, and where state law and firm policy allow, delaying the disbursement while it is looked into. Many states have adopted NASAA's model act on this, and details differ by state. Sending the wire ignores the red flags, and sharing the account with relatives or neighbors who were not named breaks client confidentiality.
14.Complete the sentence.
Under an adviser's code of ethics, an access person gives an initial holdings report when joining and then reports personal securities transactions _____.
Opções para a lacuna 1: monthly, quarterly, semiannually, only when asked
Resposta: quarterly
Federal rules built around the code of ethics have access persons, people with access to client trades or recommendations, file an initial holdings report when they join, an annual holdings report, and a transaction report every quarter. The firm reviews those reports to spot front running and other conflicts between personal trading and client trading. NASAA lists initial holdings and quarterly reports on the Series 66 outline for this reason. Reports made only on request would give the firm no way to find a problem in time.
15.Complete the sentence.
A representative who sells a client a private deal without the employing firm's knowledge or approval is engaged in _____, and a representative who trades a client's account far more than its goals justify, to earn commissions, is engaged in _____.
Opções para a lacuna 1: selling away, front running, parking, matched orders
Opções para a lacuna 2: scalping, churning, marking the close, layering
Resposta: selling away, churning
Selling away means selling a security outside the firm's knowledge and supervision, which exposes the client to a product nobody has reviewed and the firm to liability for what it never approved. Churning, or excessive trading, means the volume of trading is driven by the representative's pay and not by the client's objectives. Front running is trading ahead of a client order, parking is hiding ownership of a position, and marking the close and layering are forms of market manipulation. Both selling away and excessive trading appear on the Series 66 outline as unethical practices.
O que o Series 66 pergunta e como é a pontuação
O Series 66 é o Uniform Combined State Law Examination. A NASAA, a North American Securities Administrators Association, o elabora, e a FINRA o aplica. Segundo a FINRA, a prova tem 100 questões que contam para a nota mais 10 que não contam, você tem 150 minutos e precisa acertar pelo menos 73 das 100 questões que contam para passar. Isso dá 73 por cento. As 10 questões que não contam são itens de pré-teste e você não consegue saber quais são, então trate cada questão como se valesse ponto. A NASAA aplica a prova sem consulta e mostra o seu resultado assim que você termina.
A NASAA publica o conteúdo programático e dá a maior fatia à lei. Leis, regulamentos e diretrizes, incluindo a proibição de práticas de negócio antiéticas, são 45 por cento, cerca de 45 questões. Recomendações e estratégias de investimento para clientes são 30 por cento, cerca de 30 questões. Características dos produtos de investimento são 17 por cento, cerca de 17 questões. Fatores econômicos e informações de negócios são só 8 por cento, cerca de 8 questões. Ou seja, três em cada quatro questões são sobre regras e sobre aconselhar clientes, e o conhecimento de produtos é uma fatia menor do que no Series 65.
O Series 66 qualifica você em duas funções, como agente de uma corretora (broker-dealer) e como representante de consultor de investimentos, como se você tivesse passado no Series 63 e no Series 65. A NASAA também diz que o Series 7 da FINRA é um co-requisito: você pode fazer qualquer um primeiro, mas precisa dos dois para se registrar como representante de consultor de investimentos com base no Series 66. Quem precisa de qual prova é decidido pelo órgão regulador de valores mobiliários do seu estado, então confira com o estado e com a FINRA a taxa atual, a janela de agendamento e as suas próprias exigências. Nada nesta página é orientação jurídica.
Como esta amostra difere das páginas de Series 63 e Series 65
O Series 66 são as duas provas estaduais em uma, o que facilita estudar a metade errada. Esta amostra se apoia nos temas do lado do consultor e da conduta: quem conta como consultor de investimentos, quando um representante precisa se registrar em um estado, o que um consultor pode e não pode dizer aos clientes, taxas de desempenho, como identificar e tratar a exploração de um cliente idoso e os relatórios de operações pessoais que uma firma recolhe. Ela também mantém algumas questões sobre o perfil do cliente, noções de planejamento sucessório e produtos, porque 30 por cento da prova real é sobre aconselhar uma pessoa. A lei estadual de agentes e corretoras, como quem precisa se registrar como agente e os poderes do Administrator do estado, tem a sua própria amostra na página do Series 63. Teoria de carteiras, custódia e dever fiduciário em profundidade estão na página do Series 65.
Faça as 15 de uma vez, sem anotações, depois leia a explicação de cada questão, inclusive das que você acertou. Oito das 15 questões são sobre lei e conduta, o que fica perto do peso que a prova dá a esse tema. Trate cada erro como um tema. Se você errou a questão da definição de consultor de investimentos e a da comunicação, provavelmente está passando por cima das palavras qualificadoras, como solely incidental, regular business e general circulation. Sublinhe-as enquanto lê.
Espere um pouco de aritmética também. A questão do índice aqui é típica: escreva a fórmula primeiro, depois ponha os números. Várias regras desta prova, da idade em que o controle de uma conta UTMA passa ao beneficiário a quem pode ser registrado onde, são definidas por cada estado, então a lei do seu próprio estado e o material do seu provedor de preparação vêm primeiro.
Como a StudyPDF cria simulados completos a partir do seu próprio material de preparação
Quinze questões mostram qual parte da prova é a mais fraca. Elas não deixam você pronto sozinhas, e um conjunto genérico não sabe qual livro de preparação você comprou nem quais erros você continua repetindo.
A StudyPDF parte do seu material. Envie o seu livro de preparação do Series 66, as anotações ou os slides do seu curso, ou o programa que você mesmo anotou. Depois toque em Novo material, escolha um simulado, selecione esses arquivos como fontes e defina o tamanho. Você recebe um teste escrito a partir dessas páginas exatas, e cada explicação cita de onde vem a resposta. Restrinja um teste a uma única área, como comunicação com clientes ou planejamento sucessório, e refaça depois de revisar.
O Bo é o tutor para o resto. Pergunte por que uma resposta está certa e ele explica a partir das suas próprias páginas, com uma dica primeiro se você quiser.
Você não precisa enviar nada para começar. Diga um tema, por exemplo registro de consultor de investimentos ou o perfil do cliente, e você recebe questões de prática sobre ele. Começar é grátis.
Escrito pela equipe da StudyPDF. Atualizado em 19 de agosto de 2026.
Bom saber
Este simulado de Series 66 é mesmo grátis?
Sim. As 15 questões, a tela de pontuação e todas as explicações são grátis para jogar no navegador, e não há paywall nesta página.
Quantas questões tem o Series 66 e que nota preciso para passar?
A FINRA lista 100 questões que contam para a nota mais 10 que não contam, 150 minutos e pelo menos 73 das 100 questões que contam corretas para passar. A NASAA elabora a prova e a FINRA a aplica. O Series 7 é um co-requisito, então confirme com a FINRA e com o órgão regulador de valores mobiliários do seu estado a taxa atual, a janela de agendamento e quais provas você precisa fazer antes de marcar.
Quem escreveu estas questões, e elas são da prova real?
A equipe da StudyPDF escreveu cada questão e cada explicação com base no conteúdo programático público da NASAA para o Series 66. Elas não são questões reais da prova e não foram tiradas do banco de nenhum provedor de preparação. A StudyPDF não tem vínculo com a NASAA, a FINRA, a SEC nem com nenhum órgão regulador estadual de valores mobiliários, e nada nesta página é orientação jurídica, tributária ou de investimentos.
Dá para ter mais questões como estas a partir do meu livro de preparação?
Sim. Envie para a StudyPDF o seu livro de preparação do Series 66 ou as anotações do curso, e o Bo cria simulados completos a partir dessas páginas exatas, com explicações que citam de onde vem cada resposta. Se você só tem uma cópia em papel, diga um tema, por exemplo comunicação com clientes ou planejamento sucessório, e o Bo escreve um simulado sobre ele.
Precisa de mais que uma amostra?
Envie seu próprio livro de preparação, slides ou anotações e o Bo cria simulados completos a partir do seu material, acompanha os conceitos que você continua errando e foca nos seus pontos fracos. Comece grátis.