Series 66 Study Guide + Question Bank

Series 66 Study Guide + Question Bank (Online)

Prep for the NASAA Series 66 - Uniform Combined State Law Exam with 1,060+ exam-style questions, chapter quizzes, targeted concept and math quizzes, mini exams, and full-length practice finals. Self-paced online prep with heavy focus on state regulation, fiduciary duty, and ethics.

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Instant digital access • Mobile + desktop friendly • Progress tracking • Built for exam-style testing

What you get with the Series 66 Study Guide

  • 1,060+ exam-style practice questions across the full Series 66 outline
  • 22 chapters mapped to the NASAA Series 66 content outline
  • 66 chapter quizzes - Learn (10 Qs), Apply (10 Qs), and Master (10 Qs) for every chapter
  • Concepts Quiz (40 questions) covering all chapters for quick review
  • Math Quiz (40 questions) focused on Series 66 calculations
  • 2 Mini Exams (50 questions each) for timed practice
  • 2 full-length Final Practice Exams (110 questions each) matching exam length and structure
  • Heavy coverage of state regulation, fiduciary duty, and ethics (45% of the exam)
  • Progress tracking by chapter and difficulty to target weak areas fast
  • Clear explanations focused on what NASAA actually tests

Results from real students

Screenshots shared by Exam Bootcamp students.

Series 66 pass result

What you'll study

Organized to match how the Series 66 is structured - economics and products first, then client strategies, with heavy focus on state law, fiduciary duty, and ethics.

Function 1 - 8% (8 questions)

Economic Factors and Business Information

  • Time value of money - IRR, NPV, FV
  • Descriptive statistics - mean, median, mode, standard deviation
  • Risk-adjusted measures - alpha, beta, Sharpe ratio, correlation
  • Financial and valuation ratios - current, quick, debt/equity, P/E, P/B

Function 2 - 17% (17 questions)

Investment Vehicle Characteristics

  • Cash equivalents and money market instruments
  • Fixed income - characteristics, YTM, YTC, ratings, credit spread, DCF
  • Equity - common, preferred, convertible, IPO vs. secondary, SPACs
  • Pooled investments - mutual funds, ETFs, UITs, REITs, share classes, NAV
  • Derivatives, alternatives, structured products, leveraged/inverse funds
  • Insurance products - annuities (fixed, variable, indexed), life insurance

Function 3 - 30% (30 questions)

Client Recommendations and Strategies

  • Client types - individuals, entities, trusts, estates, foundations
  • Building the client profile - goals, risk tolerance, time horizon
  • Capital market theory - CAPM, MPT, EMH
  • Portfolio strategies and styles - strategic, tactical, active, passive
  • Tax considerations - capital gains, qualified dividends, AMT, wealth transfer
  • Retirement plans - IRAs, 401(k), 403(b), 457, ERISA fiduciary issues
  • Ownership and estate planning - JTWROS, TIC, TOD, trusts, 529s, UTMA/UGMA
  • Trading mechanics, order types, and performance measurement

Function 4 - 45% (45 questions)

Laws, Regulations, and Ethics

  • Investment Advisers - definitions, federal vs. state, Form ADV, IAA
  • Investment Adviser Representatives - registration, supervision, NASAA Model Rules
  • Broker-dealers and agents - USA, SEA, Form BD, Form U4
  • Securities registration and exemptions - SA, Reg D, USA
  • State Administrator authority and remedies
  • Communications, contracts, advertising - SEC Rule 206(4)-1
  • Fiduciary duty, compensation, custody - soft dollars, performance fees
  • Ethical practices - insider trading, market manipulation, due diligence
  • AML, BSA, PATRIOT Act, SAR filing, privacy, cybersecurity
  • NASAA Model Acts - Vulnerable Adults, Unethical Business Practices

What students say

The state law and ethics material is dense, but the Learn / Apply / Master structure made it manageable. I knew exactly where I was strong and where I needed work.

— Morgan T.

The practice questions felt close to the real exam, especially on fiduciary duty and prohibited practices. Walked in confident and passed.

— Devin K.

I'd already passed the 7. This filled in everything on the state side without wasting time on product material I already knew.

— Priya R.

Clear explanations on the tricky USA definitions and Form ADV stuff. The chapter quizzes kept me honest about what I actually knew.

— Sam L.

GET INSTANT ACCESS

Series 66 Study Guide + Question Bank

$94.99

  • Includes: Online study material + 1,060+ question bank + 2 mini exams + 2 full-length practice finals
  • Access: 6 month access to the study material
  • Start studying immediately after purchase - no waiting.
Get Instant AccessSee what's included

Frequently asked questions

  • You'll have access for 6 months starting immediately after purchase.

About the Series 66 - Uniform Combined State Law Exam

Exam format (official):

  • 100 scored questions (plus 10 unscored pretest questions)
  • 2 hours 30 minutes (150 minutes)
  • Passing score: 73 of 100
  • Corequisite: Series 7
  • Administered by FINRA on behalf of NASAA

Core topics (official weighting):

  • Function 1 - Economic Factors and Business Information - 8% (8 questions)
  • Function 2 - Investment Vehicle Characteristics - 17% (17 questions)
  • Function 3 - Client Investment Recommendations and Strategies - 30% (30 questions)
  • Function 4 - Laws, Regulations, and Guidelines (incl. Prohibited Practices) - 45% (45 questions)

For the official exam outline, scheduling details, and registration through FINRA, see the FINRA Series 66 exam page.

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