Study guide · Series 65 practice

Learn the language of finance. Pass the Series 65.

327 financial terms explained in plain English, each with a worked example and the term it's most often confused with - plus 130 original practice questions and spaced review that brings terms back right before you'd forget them.

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327terms

130practice questions

33comparisons

25calculators

How it works

Study

One term at a time: definition, worked example, and the pair people mix it up with. Hover any underlined word for its meaning.

Test yourself

Quizzes after every session, section practice with explanations, and timed full-length practice exams.

Review on schedule

Terms return on day 3 and day 7. The Review tab shows what's due, so a few minutes a day keeps it all fresh.

Series 65 prep

130 scored questions, 180 minutes, 92 correct to pass. Practice follows the NASAA outline's four sections and their weights.

Section 1: Economics & Business 15% of the exam · 20 questions Section 2: Investment Vehicles 25% of the exam · 32 questions Section 3: Client Strategies 30% of the exam · 39 questions Section 4: Laws & Ethics 30% of the exam · 39 questions

Take a practice exam Numbers to memorize Formulas & calculators

Terms people mix up

Traditional IRA / 401(k) vs Roth IRA / Roth 401(k) Traditional = deduction now, taxed later, RMDs apply. Roth = no deduction, tax-free later, no RMDs for the original owner. Choose on the bracket now versus in retirement. Margin vs Short Position (Short Selling) Margin is the loan; short is the direction of the bet. A short trade is funded on margin, but you can also be long on margin. Students collapse these two constantly. General Obligation (GO) Bond vs Revenue Bond GO = backed by taxes, usually needs voter approval. Revenue = backed only by the project's income, no voter approval, feasibility study instead. Fiduciary Duty vs Suitability Standard Fiduciary = must be the client's best option. Suitability = must merely be appropriate. The gap is where most conflicted advice lives. Excluded from the Investment Adviser Definition vs Exemptions from State Adviser Registration Excluded = not an investment adviser at all. Exempt = is an adviser, but need not register in the state. The exam tests this distinction constantly. Exchange-Traded Note (ETN) vs Exchange-Traded Fund (ETF) An ETF owns a basket of assets held for shareholders. An ETN owns nothing - it is an unsecured IOU from the issuer.

All 33 comparisons →

Start with a term

Margin Short Position (Short Selling)Wash Sale Rule Roth IRA / Roth 401(k)Fiduciary Duty Duration De Minimis Exemption Performance-Based Fees & Qualified Clients Custody Exempt Securities Sharpe Ratio Capital Gain (Short-Term vs. Long-Term)

Browse by unit

Positions & Trade Mechanics 18 terms Securities & Instruments 25 terms Risk & Return 15 terms Valuation & Analysis 14 terms Portfolio Management 11 terms Taxes & Account Types 13 terms Regulation & Professional Duty 16 terms Macro & Markets 10 terms Planning, Insurance & Estate 12 terms Economics & Financial Reporting 22 terms Bonds & Cash Equivalents 15 terms Equities, Funds & Alternatives 31 terms Clients, Strategy & Tax 29 terms Retirement Plans, Accounts & Trading 32 terms Uniform Securities Act & Registration 32 terms Ethics & Fiduciary Obligations 32 terms

Ready when you are

Ten terms, then a quiz on those ten. That's the first session.

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Educational content only. This site does not provide investment, legal, or tax advice, and using it does not create an adviser-client relationship. Not affiliated with, endorsed by, or sponsored by NASAA, FINRA, the SEC, or any exam provider. Practice questions are original and are not actual exam questions. Full disclaimer.