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Why should I use Exam Edge to prepare for the Series 66 NASAA Uniform Combined State Law Examination Exam?


FAQ's for Exam Edge Series 66 NASAA Uniform Combined State Law Examination practice tests

We have ten great reasons why Exam Edge is the #1 source on the internet when it comes to preparing for Series 66 NASAA Uniform Combined State Law Examination test:

  • Comprehensive content: Exam Edge's Series 66 NASAA Uniform Combined State Law Examination practice tests are created specifically to prepare you for the real exam. All our Series 66 NASAA Uniform Combined State Law Examination practice test questions parallel the topics covered on the real test. The topics themselves are covered in the same proportions as the real test too, based on outlines provided by the Financial Industry Regulatory Authority in their Series 66 NASAA Uniform Combined State Law Examination test guidelines.

  • Realistic practice: Our Series 66 NASAA Uniform Combined State Law Examination practice exams are designed to help familiarize you with the real test. With the same time limits as the real exam, our practice tests enable you to practice your pacing and time management ahead of test day.

  • Detailed explanations: As you complete your practice tests, we show you which questions you answered correctly and which ones you answered incorrectly, in addition to providing you with detailed step-by-step explanations for every single Series 66 NASAA Uniform Combined State Law Examination practice exam question.

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  • Thousands of unique questions: We offer 5 different online practice exams with 500 unique questions to help you prepare for your Series 66 NASAA Uniform Combined State Law Examination !

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What score do I need to pass the Series 66 NASAA Uniform Combined State Law Examination Exam?

To pass the Series 66 NASAA Uniform Combined State Law Examination test you need a score of 72.

The range of possible scores is 0 to 100.

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We have a team of professional writers that create our Series 66 NASAA Uniform Combined State Law Examination practice test questions based on the official test breakdown provided by the Financial Industry Regulatory Authority. We continually update our practice exams to keep them in sync with the most current version of the actual certification exam, so you can be certain that your preparations are both relevant and comprehensive.

Do you offer practice tests for other Financial Industry Regulatory Authority subjects?

Yes! We offer practice tests for 5 different exam subjects, and there are 35 unique exams utilizing 3300 practice exam questions. Every subject has a free sample practice test you can try too!
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How do I register for the real Financial Industry Regulatory Authority?

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Series 66 NASAA Uniform Combined State Law Examination - FAQ Sample Questions

A financial analyst may compute a number of ratios in analyzing the strengths and weaknesses of a firm. The ratio that is concerned with the firm’s capital structure is which of the following?





Correct Answer:
leverage ratio
the correct answer to the question is the leverage ratio. below is an expanded explanation of why the leverage ratio is specifically concerned with a firm's capital structure, and how it is distinct from other ratios like liquidity, activity, and profitability ratios.

leverage ratio the leverage ratio is a financial metric that measures the degree to which a company uses borrowed money (debt) to finance its operations and grow its assets. this ratio is crucial for understanding the firm's capital structure, which is essentially the mix of debt and equity that a firm uses to finance its overall operations and growth. high leverage indicates a significant reliance on debt, which can increase financial risk due to the obligations to repay debt, regardless of the company's financial performance. conversely, low leverage suggests a greater reliance on equity financing, which does not require repayment and thus provides a buffer during financial downturns. common examples of leverage ratios include the debt-to-equity ratio, debt-to-assets ratio, and the debt-to-capital ratio.

liquidity ratio in contrast to the leverage ratio, liquidity ratios focus on a firm's ability to meet its short-term obligations using its most liquid assets. they are critical in assessing the firm's short-term financial health. common liquidity ratios include the current ratio and the quick ratio. these ratios help stakeholders understand how well a company can cover its short-term liabilities with short-term assets, an important consideration for creditors and investors concerned about the firm’s day-to-day operational efficiency and financial stability.

activity ratio activity ratios, also known as efficiency ratios or asset utilization ratios, measure how effectively a company uses its assets to generate revenue. these ratios provide insights into the management's efficiency in employing company assets. examples include inventory turnover, receivables turnover, and asset turnover ratios. unlike leverage ratios, which are concerned with financing structure, activity ratios focus on operational performance and asset management.

profitability ratio finally, profitability ratios measure a company's ability to generate earnings relative to its revenues, assets, or equity. these ratios, such as the net profit margin, return on assets (roa), and return on equity (roe), are indicative of the overall financial health and efficiency of a company in generating profit from its operations. while leverage ratios provide a view of financial risk and capital structure, profitability ratios focus on financial output and performance outcomes.

in summary, while all these ratios provide valuable insights into various aspects of a company's financial health and operational efficiency, the leverage ratio is specifically tailored to assess and reflect the firm's capital structure. it provides critical information on how debt and equity are balanced within the company, which can influence financial strategy and risk management practices.

 If a registered representative wants to obtain employment outside of his or her position with a member firm, the registered representative must first provide written notification to the employing member firm. Exceptions to this rule include which of the following?





Correct Answer:
if the representative owns rental property


the question revolves around the obligations of a registered representative who seeks to pursue additional employment outside of their primary job at a member firm. specifically, it examines the requirements for notifying their current employer about such intentions and the exceptions to this rule. according to industry regulations, a registered representative must provide written notification to their employing member firm if they wish to engage in any outside employment. this allows the firm to assess and decide whether to permit or restrict the proposed activity, ensuring it does not conflict with the firm's interests or regulatory obligations.

however, there are exceptions to this notification requirement. one such exception is if the representative owns rental property. ownership of rental property is considered a passive investment, rather than an active employment or business operation. therefore, it does not typically require the same level of disclosure as other types of employment or business activities, assuming the representative is not actively involved in the day-to-day management or operations of the property.

another exception to the rule is if the representative is a passive owner in a business. this means that the representative has a financial stake in a business but does not take part in its management or daily operations. similar to owning rental property, being a passive owner is viewed as an investment activity rather than an employment one, which minimizes potential conflicts of interest with the member firm’s operations.

on the other hand, if a registered representative is an active owner in a business, this does not qualify as an exception to the rule. active involvement in managing a business could directly conflict with the responsibilities and time commitments of the representative’s role at the member firm, thus requiring disclosure and potentially, permission from the employer.

additionally, if the representative works for a charitable agency, this too would generally not be exempt from the notification requirement. even though working for a non-profit might seem innocuous, it could still pose time conflicts or potential reputational risks to the member firm, necessitating prior disclosure.

in summary, the exceptions to the rule requiring notification of outside employment are specifically tailored to exclude situations where conflicts of interest are minimal, such as passive investments. all other forms of active engagement in business or employment, regardless of the nature of the work, typically require prior written notification to and sometimes approval from the employing member firm.