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Shareholders of common stock often have the right to vote on corporate matters, including board elections. This video breaks down the two primary voting systems—statutory and cumulative—and explains how each affects shareholder influence and control.

You’ll learn:

• The key differences between statutory and cumulative voting

• How each method allocates votes in board elections

• Which system favors larger vs. smaller shareholders

• How to calculate voting power using both methods

• Common question formats and what to watch for on the exam

📘 Related Exams: SIE + Series 7 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Common stock rights, shareholder voting systems, corporate governance, voting power calculations

A broker-dealer is a firm or individual in the business of buying and selling securities for clients and for their own account. This video breaks down how broker-dealers operate, when registration is required, and the regulatory framework that governs them.

You’ll learn:

• The legal definition of a broker-dealer

• How broker-dealers differ from investment advisers and agents

• When registration is required at the state and federal levels

• Common business activities broker-dealers engage in

• Regulatory responsibilities and exam-tested scenarios

📘 Related Exams: SIE + Series 7 / 63 / 65 / 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Broker-dealer regulation, registration requirements, securities business structure, Uniform Securities Act

After-tax return shows what an investor actually keeps after taxes are paid on interest, dividends, and capital gains. This video explains how to calculate after-tax return and why it’s a critical measure of an investment’s true effectiveness.

You’ll learn:

• The formula for calculating after-tax return

• How taxes affect different types of investment income

• Why after-tax return is more meaningful than nominal return

• Common tax scenarios and how they appear on exams

• How to apply this concept to suitability and portfolio questions

📘 Related Exams: Series 6 / 7 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Taxation of investments, return calculations, portfolio analysis, investor income

An investment adviser is a person or firm that provides securities-related advice for compensation. This video breaks down the legal definition, the services advisers typically offer, and the regulatory framework that governs their registration and conduct.

You’ll learn:

• The three-part test used to define an investment adviser

• Key exclusions and exemptions under the Investment Advisers Act

• Common advisory services and compensation structures

• Differences between federal and state registration

• How this definition is tested on licensing exams

📘 Related Exams: SIE + Series 6 / 7 / 63 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Investment adviser definition, regulatory framework, fiduciary duty, registration requirements

Not every person or firm that handles securities transactions is considered a broker-dealer under the law. This video covers the major exclusions—those who are specifically not broker-dealers—so you can identify who must register and who is exempt.

You’ll learn:

• The legal definition of a broker-dealer

• Who is excluded from the definition (e.g., issuers, agents, banks)

• Common activities that do not trigger registration

• How these exclusions apply under both state and federal law

• The most frequently tested broker-dealer scenarios

📘 Related Exams: Series 63 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Broker-dealer regulation, exclusions from registration, Uniform Securities Act, registration requirements

Federal covered advisers are investment advisers that register with the SEC rather than with individual states. This video explains who qualifies for federal registration, how it affects state law requirements, and why the distinction matters in regulatory exams.

You’ll learn:

• The asset threshold and other criteria for SEC registration

• When federal registration is required vs. optional

• Exemptions from state registration and state notice filing rules

• The difference between federal covered and state-registered advisers

• Common exam questions testing registration scenarios

📘 Related Exams: Series 63 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: SEC registration, federal covered adviser rules, state exemptions

Taking a licensing exam at a Prometric test center can feel stressful if you don’t know what to expect. This video offers practical advice to help you stay calm, focused, and fully prepared—from check-in procedures to test-taking strategies under pressure.

You’ll learn:

• What the Prometric check-in process looks like (ID, lockers, security)

• What to bring—and what not to bring—on exam day

• How the test interface works and how to use scratch paper effectively

• Time management strategies and mental resets during the exam

• How to stay calm and stay sharp throughout the testing experience

📘 Related Exams: SIE + Series 6 / 7 / 9 / 63 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Test day logistics, Prometric procedures, exam mindset, performance strategies

This video simplifies the inner workings of mutual funds by breaking down industry jargon and organizational structure. Real-world scenarios make it easy to understand how mutual funds operate and what factors investors should consider.

You’ll learn:

• How mutual fund structure affects operations and investors

• Common terminology like NAV, expense ratio, and fund family

• The role of portfolio managers and how they make buy/sell decisions

• The importance of fees, redemption patterns, and portfolio turnover

• How questions about fund structure and costs appear on exams

📘 Related Exams: SIE + Series 6 / 7 / 65 / 66
🧠 Skill Level: Beginner to Intermediate
📈 Topics Covered: Mutual fund structure, jargon, fees, NAV, portfolio management

This video takes you inside an equity mutual fund—using a real-world example of the Fidelity Magellan Fund—to show exactly what types of assets it holds and how it's structured. You'll gain clarity on how equity funds pick and allocate stocks to meet their investment objectives.

You’ll learn:

• What kinds of securities make up an equity mutual fund portfolio

• How fund managers choose and weight individual stocks

• The concepts of diversification, sector exposure, and turnover

• Fee impact and performance dynamics tied to holdings

• How exam questions frame fund structure and holdings analysis

📘 Related Exams: SIE + Series 6 / 7 / 65 / 66
🧠 Skill Level: Beginner to Intermediate
📈 Topics Covered: Mutual fund holdings, equity portfolios, diversification, fund structure, portfolio analysis

Stock splits adjust the number of shares outstanding and the share price without changing the total value of an investor’s position. This video walks through how stock splits work and shows you how to calculate changes to share count and price.

You’ll learn:

• The difference between forward and reverse stock splits

• How to calculate new share quantity and share price

• How stock splits affect total investment value (they don’t!)

• Common ratios like 2-for-1, 3-for-2, and 1-for-5

• How stock split questions are presented on exams

📘 Related Exams: SIE + Series 7 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Stock splits, reverse splits, share adjustments, market price effects, exam math

Bond price volatility refers to how much a bond’s price changes in response to interest rate movements. This video explains the factors that influence volatility and helps you understand which bonds are most sensitive to market shifts.

You’ll learn:

• How interest rates affect bond prices (inverse relationship)

• Why long-term and low-coupon bonds are more volatile

• The role of duration and maturity in price sensitivity

• How to compare bond volatility on the exam using key traits

• Common exam setups testing volatility, risk, and pricing

📘 Related Exams: SIE + Series 6 / 7 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Bond pricing, interest rate risk, duration, volatility, bond characteristics

Call protection limits the issuer’s ability to redeem a bond before maturity, giving investors greater income certainty. This video explains how call protection works, when it applies, and why it’s especially important in a falling interest rate environment.

You’ll learn:

• What call protection is and how it benefits bondholders

• How call protection periods are structured in callable bonds

• Why issuers might want to call a bond early—and why investors want protection

• The connection between interest rates, reinvestment risk, and call risk

• How to identify call protection scenarios in exam questions

📘 Related Exams: SIE + Series 7 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Bond features, call risk, interest rate impact, investor protection, callable securities

When executing trades, firms can act in an agency or principal capacity—each with different roles, responsibilities, and compensation structures. This video explains how to distinguish the two, both in practice and on exam questions.

You’ll learn:

• What it means to act as an agent vs. a principal

• How firms earn compensation: commissions vs. markups/markdowns

• The disclosure requirements for each capacity

• How these roles impact client relationships and trade execution

• How to quickly identify agency and principal roles in exam scenarios

📘 Related Exams: SIE + Series 7 / 9 / 63 / 65 / 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Trade execution, firm roles, commission vs. markup, customer disclosures, regulatory rules

Securities are categorized as either negotiable or redeemable, based on how they are traded or cashed in. This video breaks down the key differences, helping you understand how liquidity, pricing, and investor rights vary across security types.

You’ll learn:

• What makes a security negotiable and how it’s traded on secondary markets

• What redeemable securities are and how investors redeem them directly from issuers

• Common examples of each type, including stocks, bonds, mutual funds, and UITs

• Why pricing and liquidity differ between the two categories

• How this distinction appears in exam questions and suitability scenarios

📘 Related Exams: SIE, Series 6, Series 7, Series 65, Series 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Securities types, transferability, market liquidity, redemption features, investment structure

This episode of The Basic Wisdom Podcast provides step-by-step guidance on creating a successful and sustainable study plan for professional exam prep. It breaks down study habits and scheduling strategies proven to boost retention and reduce stress.

You’ll learn:

• How to structure a study plan that aligns with your exam timeline

• Effective study habits like spaced repetition and active recall

• How to identify and focus on weak areas

• Techniques to track progress and adjust your strategy

• Methods to stay motivated and avoid burnout

📘 Related Exams: SIE, Series 6, Series 7, Series 9, Series 63, Series 65, Series 66
🧠 Skill Level: Beginner
📈 Topics Covered: Study planning, time management, exam strategy, retention techniques

Form ADV Part 1 is the foundational filing used by investment advisers to register with the SEC or state regulators. It provides regulators with key administrative and operational information about the advisory firm. This video walks through what’s included and how it’s used in the registration process.

You’ll learn:

• What Form ADV Part 1 covers and why it’s required

• The difference between SEC and state registration via the IARD system

• Key sections, including firm ownership, disciplinary history, and AUM

• How this form connects to Parts 2A and 2B

• What details exam questions often test

📘 Related Exams: Series 63, Series 65, Series 66
🧠 Skill Level: Beginner
📈 Topics Covered: Investment adviser registration, Form ADV structure, regulatory disclosure, firm-level reporting

This video examines the GameStop short squeeze and extracts practical lessons for investment professionals and exam candidates. By analyzing how retail enthusiasm disrupted the market, it links real-world events to key industry principles and compliance issues.

You’ll learn:

• How social media-driven trading can cause extreme price volatility

• The risks posed by rapid momentum and herd behavior in the market

• Short selling mechanics and the dangers of short squeezes

• Key compliance, suitability, and risk-disclosure considerations

• Exam-related crossovers where these lessons are tested

📘 Related Exams: SIE, Series 7, Series 65, Series 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Market volatility, short squeezes, retail trading, risk management, regulatory oversight

Convertible securities—like convertible bonds and preferred stock—allow investors to exchange their holdings for common stock. This video walks through how conversion works and how to calculate parity price, a concept often tested in pricing and suitability questions.

You’ll learn:

• How convertible bonds and preferred stock convert to common shares

• The formula for determining conversion ratio and parity price

• How to compare market value of the bond vs. equivalent stock value

• Why investors care about parity and when it impacts decision-making

• Common exam scenarios involving conversions and pricing

📘 Related Exams: Series 7, Series 65, Series 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Convertible bonds, conversion ratio, parity price, security valuation, investment suitability

Form ADV Part 2A—commonly called the adviser brochure—is a required disclosure document that outlines a firm's services, fees, conflicts of interest, and investment approach. This video breaks down what must be included and how it's used to promote transparency between advisers and clients.

You’ll learn:

• The purpose of Form ADV Part 2A and who must file it

• Key disclosure categories, including fees, services, and conflicts

• Delivery and updating requirements

• How it differs from Form ADV Part 2B (brochure supplement)

• What details are emphasized on licensing exams

📘 Related Exams: Series 63, Series 65, Series 66
🧠 Skill Level: Beginner to Intermediate
📈 Topics Covered: Investment adviser regulation, client disclosure, Form ADV, brochure content and requirements

This video walks through a real-world example of Form ADV Part 2A, the primary brochure investment advisers must deliver to clients. You’ll see how firms disclose important details about their services, fees, conflicts, and investment philosophy—all through the lens of an actual document.

You’ll learn:

• How to navigate a real Form ADV Part 2A brochure

• Where to find details on advisory services, fee structures, and disciplinary history

• How conflicts of interest and methods of analysis are disclosed

• The relationship between regulatory requirements and actual firm practices

• What key sections to focus on when answering exam questions

📘 Related Exams: Series 63, Series 65, Series 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Form ADV Part 2A, adviser disclosure rules, real-world compliance, brochure content analysis

Form ADV Part 2B, also known as the brochure supplement, provides clients with detailed background information about the specific advisory personnel working with them. This video explains what must be disclosed, who is covered, and how this form supports transparency in the advisory relationship.

You’ll learn:

• What the brochure supplement is and who it applies to

• Required disclosures, including education, business background, and disciplinary history

• When and how the form must be delivered to clients

• Key differences between Form ADV Part 2A and 2B

• Exam question patterns and what details to focus on

📘 Related Exams: Series 63, Series 65, Series 66
🧠 Skill Level: Beginner-to-Intermediate
📈 Topics Covered: Investment adviser regulation, disclosure requirements, Form ADV, brochure supplement rules

In this video, we walk through a real-world example of Form ADV Part 2B, also known as the brochure supplement, to show how investment adviser representatives disclose key information to clients. Seeing the form in action will help connect regulatory rules to practical application.

You’ll learn:

• How to read and interpret an actual brochure supplement

• What disclosures are required for advisory personnel

• How firms present education, business history, and disciplinary records

• Where to find compensation details and conflicts of interest

• What to focus on in exam questions that reference real disclosures

📘 Related Exams: Series 63 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Form ADV Part 2B, disclosure examples, investment adviser rules, document analysis

Total return is a comprehensive measure of an investment’s performance, accounting for both income and capital gains. This video shows how to calculate total return and interpret what it tells you about portfolio growth over time.

You’ll learn:

• The formula for total return and when to use it

• How dividends, interest, and price appreciation factor in

• Common exam-style questions and how to solve them step-by-step

📘 Related Exams: SIE + Series 6 / 7 / 9 / 65 / 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Return calculations, investment performance, total return formula

The bid-ask spread represents the difference between what buyers are willing to pay and what sellers are willing to accept. It’s a fundamental part of trading that reveals liquidity, market sentiment, and transaction costs—making it essential for both investors and exam-takers to understand.

You’ll learn:

• What the bid & ask represent in a market quote

• How to calculate the spread and interpret its size

• The role of market makers and how they profit from the spread

• How bid/ask dynamics affect order execution and pricing

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Quotes, liquidity, trading costs, market maker roles, spread interpretation

A market order is the simplest and fastest way to buy or sell a security, prioritizing speed over price. While execution is virtually guaranteed, the final price can vary—making this order type efficient but unpredictable during volatile conditions.

You’ll learn:

• How market orders work and when they’re typically used

• The benefits and risks of prioritizing execution over price

• Why market orders are often used for liquid securities

• How this order type is tested in trading scenario questions

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Order types, execution timing, price risk

A buy limit order allows an investor to purchase a stock only if it falls to a specified price or lower. It’s a tool for gaining entry at favorable prices without chasing the market—and a common topic on exam questions about order execution logic.

You’ll learn:

• How buy limit orders work and when they’re used

• Why these orders might never be filled

• How price movement affects execution eligibility

• Exam traps related to timing, order priority, and price conditions

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Limit orders, price execution, investor strategies, order type comparison

A sell limit order is used to sell a security at a specified price or better, but only if the market moves up to meet that price. This video explains how the order functions, when it gets executed, and why it’s commonly used to take profits.

You’ll learn:

• How sell limit orders are placed and executed

• Why these orders may never fill if the price isn’t reached

• Practical use cases for profit-taking strategies

• How this order type is tested on licensing exams

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Order types, execution conditions, profit targets

A buy stop order is triggered when a stock rises to a specified price, converting into a market order to buy. It’s a common tool for entering positions on protecting short stock positions or technical breakouts, but its use comes with execution risks once triggered.

You’ll learn:

• How a buy stop order works and when it triggers

• Why investors used buy stop orders to protect short stock positions

• How buy stops are used to confirm upward momentum

• Execution risk and price slippage after the trigger

• How this order type appears in exam questions

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Order entry types, breakout strategies, market vs. limit orders, execution logic

A sell stop order is designed to trigger a market sell if a stock falls to a specified price. It’s a risk-management tool used to limit losses or protect gains—but can introduce execution uncertainty once triggered. This video breaks it all down clearly and concisely.

You’ll learn:

• How a sell stop order is structured and when it activates

• Why investors use this order in a declining market

• Why execution is not guaranteed at the stop price

• How these orders are framed in exam questions

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Order types, stop order logic, downside protection, execution risk

Buy stop limit orders are commonly used by investors for hedging (protecting) short stock positions. We’ll walk through visual examples and step-by-step scenarios to help you understand when the order activates—and why it may not execute.

You’ll learn:

• What a buy stop limit order is and how it functions

• The difference between buy stop, buy limit, and buy stop limit orders

• Stop price, limit price, trigger, and execution rules

• When investors use this order

• How to solve test questions, including those designed to trick you

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Order types, buy stop vs. buy limit, execution logic, trading strategies, investor protection

Sell stop limit orders are commonly used by investors for hedging (protecting) long stock positions. We’ll walk through visual examples and step-by-step scenarios to help you understand when the order activates—and why it may not execute.

You’ll learn:

• What a sell stop limit order is and how it functions

• The difference between sell stop, sell limit, and sell stop limit orders

• Stop price, limit price, trigger, and execution rules

• When investors use this order

• How to solve test questions, including those designed to trick you

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Order types, sell stop vs. sell limit, execution logic, trading strategies, investor protection

Options taxation is a tricky area for exam candidates, especially when dealing with expiration, exercise, and closing positions. This video breaks down exactly how gains and losses are realized for both buyers and sellers—so there’s no confusion on test day.

You’ll learn:

• Tax treatment for exercised, expired, and closed-out options

• How long-term vs. short-term gains apply to calls and puts

• What happens to premiums in different closing scenarios

• Special considerations for option writers (sellers)

• IRS rules that frequently appear in exam questions

📘 Related Exams: Series 7 / 9
🧠 Skill Level: Intermediate
💰 Topics Covered: Capital gains/losses, expiration vs. exercise, IRS rules, taxation of options buyers and sellers

Margin equity represents the investor’s actual ownership value in a margin account and plays a critical role in determining buying power and maintenance requirements. This video walks through how equity is calculated and applied in both long and short margin scenarios.

You’ll learn:

• The definition of equity in long vs. short margin accounts

• How to calculate equity in margin accounts

• How equity is affected by market movements and debit/credit balances

• Common pitfalls to avoid when answering equity-related questions

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate to Advanced
📈 Topics Covered: Combined equity formula, margin account analysis, long vs. short positions, exam-based scenarios

Minimum maintenance is the required equity investors must maintain in margin accounts to avoid a margin call. This video breaks down the rules, percentages, and math used to determine whether an account meets minimum equity standards after market movement.

You’ll learn:

• Requirements for long and short positions

• Maintenance and Regulation T calls

• Exam-style scenarios to test your understanding

• The importance of equity percentage in margin accounts

📘 Related Exams: SIE + Series 7 / 9 / 65 / 66
🧠 Skill Level: Intermediate
📈 Topics Covered: Regulation T, maintenance calls, long vs. short positions, margin calculations