SMART 65™ - INVESTMENT ADVISER	July 20, 2010
We have released Smart 65™ on the Web. As with our other Smart programs, Smart 65™ contains the full study text as well as over 4200 practice, quiz and exam questions. It is divided into four books (Economics and Analysis, Investment Vehicles, Investment Recommendations, and Legal Guidelines) with chapter quizzes after each book. Simulated finals follow the study program. For more information, including links for ordering, please visit the Series 65 page.
SERIES 27 - FINANCIAL AND OPERATIONS PRINCIPAL EXAM	April 29, 2010
We now offer a Series 27 Databank to complement our printed Series 27 material. The Series 27 Financial and Operations Principal examination is required for the Chief Financial Officer of FINRA member firms, and also for senior accounting staff personnel that prepare member firm financial reports. The Series 27 text covers the following test areas: Net Capital Rule Customer Funds Rules Reporting and Recordkeeping Rules Uniform Practice Rules Margin Rules MSRB Rules Other Relevant Regulations Our Series 27 Databank contains 4 simulated finals with over 500 simulated exam questions. For more information, visit the Series 27 page.
SERIES 55 - EQUITY TRADER EXAM	December 1, 2009
We have just completed the Series 55 Databank program. The program consists of 5 Final Exams drawn from the major topics found on the actual exam, including: OTC Market and Market Maker Activities OTC Trading Rules Automated Execution and Trading Systems Trade Reporting Obligations and ACT Rules Securities Industry Regulations Each question has a detailed explanation that not only explains which answer is correct, but also explains why the other answers are wrong for the more complex concepts. More information can be found by visiting the Series 55 page.
SERIES 51 - MUNICIPAL FUND SECURITIES EXAM	November 24, 2009
We are pleased to announce the new Series 51 Databank. Our Series 51 Databank consists of 6 Final Exams drawn from the major topics found on the actual exam, including: Municipal Fund Securities Sales Supervision Underwriting and Disclosure Obligations Fair Practice Rules For more information, visit the Series 51 page.
SERIES 26 - REVISION AND DATABANK	November 17, 2009
Our Series #26 - Investment Companies / Variable Annuities - product has undergone a substantial revision and a new Series #26 Databank product has also been created. The Series #26 examination is required for persons that will supervise Investment Company Products / Variable Contracts Representative (Series #6) individuals. The prerequisite license is the Series #6. Series #26 now contains over 500 pages with over 1000 simulated exam questions. Our Series #26 Databank contains 6 Final Exams drawn from the major topics found on the exam. More information, as well as links for ordering, is available on the Series 26 page.
SMART 17 - General Securities Representative "Add On" license	November 3, 2009
We have just completed a new Smart 17 program – General Securities Representative “Add On” license for certain individuals. This is exam is an “add-on” test to the British securities license, that gives an individual the equivalent of the U.S. Series #7 General Securities license without having to duplicate material already covered in the British exam. More information, as well as links for ordering, is available on the Series 17 page.
SERIES 82 - PRIVATE SECURITIES OFFERINGS REPRESENTATIVE EXAM	October 21, 2009
We have just completed the Study Program for the Series #82 - Private Securities Offerings Representative Exam. The exam licenses an individual to offer private placements in the primary market. It cannot be used by individuals that wish to sell private placements in the secondary market. The exam consists of 100 questions to be completed in 2 1/2 hours. The text material covers the following sections of the study outline: Characteristics of Corporate Securities Market Regulation Analysis Industry Regulations Aside from the text, which includes section examinations, there are 4 simulated 100 practice question Final Exams with complete explanations. More information, as well as links for ordering, is available on the Series 82 page.
IMPORTANT ANNOUNCEMENT REGARDING CHANGES TO NASAA SERIES 63, 65 AND 66 EXAMS EFFECTIVE JANUARY 1, 2010	September 12, 2009
NASAA has announced that it is making changes to its State Law exams, effective January 1st, 2010. The biggest changes affect the Series 66 exam; the changes to the Series 63 and Series 65 exams are minor. Also note that NASAA is adding a few additional topics to the question banks such as hedge funds and equity-indexed annuities (already covered in our materials), but again, these are minor changes. Series 66 Exam The Series 66 exam remains at 100 questions, but the allocation is being changed to dramatically: INCREASE the number of questions covering Investment Recommendations and Analysis to 50 from the previous 20 questions; and DECREASE the number of questions on Regulations from the previous 80 questions to 50 questions. There is both a “good” side and a “bad” side to this. Memorization of the legalistic details of Uniform State Law, which was critical to passing the old exam, is now no longer as important. This is very good. However, Investment Recommendations and Analysis has historically been a weak area for individuals taking this exam, probably because the test candidates knew that it was only 20 questions so they did not give it adequate study time. This will no longer be the case - this will now become the “make or break” section of the test. The passing score for the Series 66 will increase to 75%. Series 63 Exam The exam remains at 60 questions, however, the number of questions on Registration of Securities is being decreased from 15 to 6; and these 9 questions are being reallocated to Registration Rules and Unethical Practices. If anything, this should make the test a bit easier, since this was the area of the test that required mindless memorization of information that was essentially useless to a registered representative. The passing score for the Series 63 will increase to 72%. Series 65 Exam The exam remains at 130 questions, however, the number of questions on Legal Guidelines is being decreased from 45 to 40; with these 5 questions being reallocated to the exam’s Investments section. The exam will now also cover 529 plans, capital market theory and some other minor new items. These changes will have minimal impact on the test. The passing score for the Series 65 will increase to 72%. PassPerfect will have revised printed study materials available on January 1, 2010, for these exams. The web-delivered SMART programs will change on January 1, 2010, to reflect the test mix changes.
VIRTUAL CLASSROOM TRAINING NOW AVAILABLE	August 24, 2009
While a live, in-person class is best, there is now live Virtual Training for many of the securities exams available. Students using the Pass Perfect materials have access to these programs for an additional charge. Class sizes are no more than 15 students, to allow for an interactive instructor-student experience. To follow along with the online training prior to the course, students are e-mailed a printable workbook which is gone over during the sessions. All sessions are 3 hours long. The number of sessions is listed: Series 3 - 2 sessions Series 4 - 2 sessions Series 6 - 4 sessions Series 7 - 5 sessions Series 9 - 2 sessions Series 10 - 3 sessions Series 24 - 4 sessions Series 51 - 2 sessions Series 53 - 2 sessions Series 55 - 2 sessions Series 63 - 1 session Series 65 - 4 sessions Series 66 - 4 sessions Series 86 - 2 sessions Virtual Training is held by Peter A. Gibowicz who has been instructing these securities exams since 1993 and has written most of the Quick-study guides which follow along with the Pass Perfect materials. E-mail Peter for more information. Class schedules are listed on our classes page. If you don’t see a class scheduled near to the time when you will be taking your securities exam, please e-mail Peter A. Gibowicz to check about future class offerings.