American Investment Training

Monday, November 5, 2018

Series 99 License - Series 99 Training Course Information



The FINRA® Series 99, Operations Professional Exam assesses the competency of an entry-level registered representative to perform their job as an operations professional and measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of an operations professional, including client on-boarding; financial control; receipt and delivery of securities and funds and account transfers, and collection, maintenance, reinvestment and disbursements of funds.
Corequisites: Securities Industry Essentials (SIE) exam
Exam Format: 50 multiple-choice questions
Exam Duration: 1 hour, 30 minutes
Outline of Topics Covered (with % of topics covered on exam):
  • (F1) Knowledge Associated with the Securities Industry and Broker-dealer Operations 70%
  • (F2) Professional Conduct and Ethical Considerations 30%

The full Series 99 course is updated and available. This course is designed for self study prep and will enable you to pass the SERIES 99 Exam on the first try. 

FULL SUPPORT IS INCLUDED

BEGIN: 

Tuesday, October 23, 2018

Bond Market Interest Rates - Effect On Stock Market

Rising Bond Rates Impact on the Stock Market


The recent stock market sell-off prompted a herd mentality among many investors. Moving with the flow of the crowd, investors large and small sold enough shares to cause the Nasdaq to fall 4.1%, S&P 500 3.3%, and Dow close to 5%.

Bond yields had much to do with the sudden drop in the stock indexes and there are reasons bond rates can prompt a down turn in the equities markets.

The Federal Reserve began to move short-term interest rates higher over a year ago and signaled it would raise rates further to 2.5 percent in December 2018, 3.0 percent in 2019, and 3.5 percent in 2020. Short term prime rates are a primary reason for bond rates going up.

The Fed game plan to increase prime rates over time signaled the bond market to strengthen its yields. On October 9, the 10-year note yielded 3.25%, following indications from the Federal Reserve that more rate hikes are in the future.

Individual and institutional investors view rising interest rates as a signal to move dollars out of the equity market and into fixed income investments. Rising bond yields throw off more interest income and are safer alternatives compared to dividend income from stocks.

Bonds compete for investor dollars and investors will seek the highest investment income with the greatest margin of safety.

Both the Fed prime rate and resulting bond yield are also a reason for determining the U.S. economic outlook. Economic expansion or contraction will respond to the costs of borrowing money.

Higher bond yields force companies to spend more dollars for expansion projects, resulting in more debt on their balance sheets. Thus, companies often cut back in research, development, and capital expansion when borrowing costs increase.

Investors also become sensitive to business slow downs and follow these closely. Because investors view their stock ownership as part ownership in a company, any expectation of business contraction affects their decisions to hold stock.

Negative changes in company growth and expansion result in lower cash flow, less money to pay stock dividends, and less incentive for owning a company's stock. Thus, stock valuations drop along with share prices.

When the Federal Reserve consistently raises prime interest rates and bond yields follow, history reflects money flowing out of stock investments and into bonds. As rates have steadily risen this year, this pattern has followed. Money has clearly moved from stock funds into bond investments with stock share prices dropping in lock step.

For the personal investor with a long holding period, rising bond yields are not a cause for alarm. The investor with a portfolio of growth stocks will see falling stock valuations as corporate businesses contract. For the investor primarily holding dividend stocks, not only will share prices contract but continued dividend increases become a concern.

However, personal investors holding shares in good companies with track records of solid performance can weather adverse effects on the economy as it relates to rising bond yields. The message here is that the caliber of a company and strength of its management team is much more important in the long run than any impact bond yields may have on the economy.

I have been an active investor for over 35 years. With the exception of employer 403(b) retirement plans, my investments have always been self-directed. My preferred investment style would fall into value investing with dividend growth and income as a long term objective.

Contact:

LinkedIn: https://www.linkedin.com/pub/jack-chambers/b6/534/144

Google +: https://plus.google.com/u/0/110724217126651597496/posts


Wednesday, October 17, 2018

New FINRA, NFA and NASAA Training Courses online - Series 7 - Series 65 - Series 3 and more

American Investment Training has updated their Broker Exam Training Center by partnering with Kaplan Financial!  

MORE LICENSES - MORE COURSES

SIE Exam Course

SERIES 3 Licensing

SERIES 4 Training

SERIES 6

SERIES 7

SERIES 9 Exam

SERIES 10 Prep

SERIES 9/10 Complete Course

SERIES 24 Course

SERIES 27 License

SERIES 30 Training

SERIES 31 License

SERIES 34 Course

SERIES 52 Test

SERIES 53 Licensing

SERIES 63 Exam

SERIES 65 Training

SERIES 66 Course

SERIES 79 License

SERIES 99 Training

All courses are available now!  Get licensed online

American Investment Training



Series 53 Training Course - Municipal Securities Principal Exam Training Series 53


Pass the Series 53 the first time with American Investment Training and Kaplan Financial. 

The Series 53 training course provides the best methods and techniques to pass the exam on your first try. This course package is ideal for self-directed individuals who have a proven record of success when studying without the guidance of an instructor. 

Plan your exam preparation by building a customizable study calendar based on your study time frame and exam date. Begin your study for the Series 53 test with units in the License Exam Manual for a comprehensive overview covering all aspects of the exam. Practice Questions in areas of weakness by taking custom quizzes after each unit with the Securities Pro QBank. Finally, test your knowledge with our Practice Exam for a final review before the actual exam.


  • Complete the exams online or print them out to study on the go.
  • Review your performance on previously taken exams.
  • Track time spent on a question and/or exam.
  • Search for specific questions based on keyword, question ID, or notes.
  • Create personal notes and bookmarks on questions for future reference.
  • Build weighted mock exams to provide a comprehensive test review of all material.

SERIES 53 COURSE MATERIALS

Tuesday, April 3, 2018

Stock and Option Hedging Strategies - Stock and covered call writing for Series 7 Exam Study

Covered call writing with an existing long stock position is a popular hedging strategy that investors and brokers-in-training should know. It is an income strategy, and it lowers your cost on your main (long stock position) because of the premium you receive for selling (shorting/writing) the contract. 

Let's look at a covered call with Stock Example

Mr. Bonds owns 100 shares of HPK at $72 a share. HPK has been fairly stagnant recently, trading between 71 and 74. It has yet to breakthrough $75, but Mr. Bonds feels the stock has great potential to rise considerably in 3-6 months, so he does not want to sell it. How can he profit from this prediction?   One way is to sell (write) a call option contract on HPK to receive income. These contracts have monthly expiration dates, with the longer term expirations costing more money. 

He decides to initiate writing a covered call. It is called "covered" because he owns the stock that the call options is based on. If the call options is exercised, Mr. Bond will have to deliver (sell) his 100 shares to the call holder at a specific price set in the contract. This is called the strike price. If the call option does not get exercised and expires worthless - Mr. Bond keeps the premium he received for selling the option, and retains ownership in the stock. This is the best case scenario for an investor who writes call options on a long stock position. 

It is best explained by laying out a complete position - and the hedge. 

LONG 100 SHARES HPK@ $72 
SHORT 1 HPK JUL 75 CALL@3

Breakdown of the call option contract:

Each option contract represents 100 shares of stock. They also expire monthly. So this one expires in July. Whatever decision the investor makes, he must decide before the contract expires towards the end of July. Each contract carries a "premium" based on 100 shares. This contract is $300. That amount is what the buyer would pay to own the contract, and what the seller (writer) receives for shorting the contract. Each person betting on different directions of the stock. 

For Mr. Bond, he is shorting the call option hoping the stock stays stable and the option is expires. He keeps the $300 premium, which now lowers his cost on his stock to 69. He can continue to write calls periodically, and if he is successful - his cost (and break even) can be lowered even more. So YES!, you can make money on a sleepy stock. 

The maximum GAIN on this strategy (while both positions stay) is $600. If the stock rises enough to trigger the option, the investor MUST sell the shares at 75. He paid 72, and he also collected $300. 3 points on the stock and 3 on the premium = $600

What is the downside?  There always is a downside.....

The main downside is the stock itself drops big, and the contract expires.You lose in share price on your stock, and the contract is now gone. The lesser risk is the stock rises before July which triggers the option, and Mr. Bond has to sell his stock at 75. He still makes money, but if the stock continues to shoot up - the investor will miss out on it, as he no longer owns the stock itself. 

The Maximum LOSS is $6900.  If the stock drops to ZERO, the share value can all be lost - the $300 premium which he always keeps. 

The Breakeven is 69.  The breakeven on these positions is always the cost of the stock minus the premium received. He is profitable until the stock hits 69.

The best case scenario is the stock stays stable or within a thin trading range, the premium is kept, the option expires, and then at a later date - the stock jumps up strong for unlimited gains in the future.

For more information on finance, investing and the Series 7 exam, please visit:

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Tuesday, October 10, 2017

Broker Exams and Licenses NOT requiring Sponsorship - FINRA and NFA Licenses you can get independently


Become a Licensed Investment Professional Independently!
Series 65 - Series 63 - Series 3



The Series 7 and many other exams require a firm to sponsor you before you can sit for the licensing test. This usually means being hired as a full time employee first. After a probationary or training period, a registration can begin by the firm to set the broker trainee or other brokerage employee for an exam.

However, there are many exams that are not included in this restriction. Most of these exams are either advisory in nature (earning fees) or futures market based. The most popular and high valued licenses that do not require a firm to sponsor you include: 

INVESTMENT ADVISORY AND STATE LICENSES

SERIES 65 - Registered Investment Adviser. 

SERIES 63 - Uniformed State Law

SERIES 66 - Combined Series 63/ Series 65

FUTURES AND COMMODITIES LICENSES

SERIES 3 - Futures and Commodities 

SERIES 31 - Futures Managed Funds

SERIES 30 - Futures Branch Manager

SERIES 34 - Retail Forex 


ONLINE COURSES for the Series 63, 65 and 66 are available online to begin right away with 24/7 access:   https://portal.kaplanfinancial.com/partner/HII/

Courses for the Series 3 and all futures exams can be ordered through our self study education site:


Friday, July 14, 2017

Finra Licenses - Series 7, Series 65 and more. License Summaries - Test Questions and Series online course info

American Investment Training provides full online course training for the:

SERIES 6

SERIES 7

SERIES 9

SERIES 10

SERIES 24

SERIES 63

SERIES 65

SERIES 66

All courses include a full PASS Guarantee. If you complete the course and fail the real exam - we refund you 100%!   That is why our pass ratio is near 100%

Summary of Series Exams and Courses:

SERIES 6

The Series 6 exam - the Investment Company and Variable Contracts Products Representative Qualification Examination (IR) - evaluates an entry-level representative's proficiency to perform duties as an investment company and variable contracts products representative. This exam comprises 100 scored questions with an additional 5 unscored "pretest" questions. Applicants have two-hours and 15-minutes to complete the exam. The passing score is 70%.

SERIES 7

The Series 7 exam - the General Securities Representative Qualification Examination (GS) - evaluates an entry-level registered representative's proficiency to perform duties as a general securities representative. This exam comprises 250 scored questions with an additional 10 unscored "pretest" questions. Applicants have six-hours to complete the exam - conducted in two three-hour sessions comprising 130 questions per session. The passing score is 72%. The Series 66 or 63 and 65 exam(s) typically follow this exam.

SERIES 9

The Series 9 exam — the General Securities Sales Supervisor Qualification Examination — evaluates a registered representative's proficiency and knowledge of securities industry rules and particular statutory provisions applicable to supervising sales activities of options at a branch office. 

This exam comprises 55 scored questions with an additional five unscored "pretest" questions. Applicants have one-hour and 30-minutes to complete the exam. The passing score is 70%. 

SERIES 10

This exam comprises 145-scored questions with an additional 10-unscored "pretest" questions. Eligible representatives have 4-hours to complete the exam with a passing score of 70%. The Series 7 (or foreign equivalent) is a prerequisite for this examination. The Series 7 licensed representative must be associated with and sponsored by a FINRA member firm for eligibility to take the Series 10 or 9 exams. Along with the Series 9, the Series 10 exam is required to qualify for the Series 8 branch manager license. Either exam may be taken first, sequence does not matter

SERIES 24

The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities principal, including the rules and statutory provisions applicable to the supervisory management of a general securities broker-dealer. The Series 24 consists of 150 scored questions and an additional 10 unscored pretest questions. Candidates are given three hours and 45 minutes to complete the exam. The passing score is 70 percent.

SERIES 63

The Series 63 exam - the Uniform Securities Agent State Law - developed by NASAA and administered for NASAA by FINRA, evaluates an entry-level registered representative's proficiency in understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam is comprised of 60 scored questions and 5 unscored "pretest" questions. Applicants have one-hour and 15-minutes to complete the exam. The passing score is 72%. The Series 63 does not have any prerequisites and can be taken without being sponsored by a FINRA member firm. However, to transact securities business, an individual must also take and pass the Series 6 or Series 7 and be associated with and sponsored by a FINRA member firm.

SERIES 65

The Series 65 exam - the Uniform Investment Adviser Law - developed by NASAA and administered for NASAA by FINRA, evaluates an entry-level proficiency to provide investment advice to clients and in understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators with a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam comprises 130 scored questions and 10 unscored "pretest" questions. Applicants have three-hours to complete the exam. The passing score is 72%.

SERIES 66

The Series 66 exam - the Uniform Combined State Law - developed by NASAA and administered for NASAA by FINRA, evaluates entry-level proficiency to provide investment advice and effect securities transactions for clients, as well as understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators with a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam comprises 100 scored questions and 10 unscored "pretest" questions. Applicants have two-hours and 30-minutes to complete the exam. The passing score is 73%. The Series 7 is a co-requisite for this examination but either exam can be taken first and the Series 66 does not require FINRA member firm sponsorship. The Series 7 licensed representative, however, must be associated with and sponsored by a FINRA member firm.

ONLINE COURSES ARE AVAILABLE THROUGH OUR MAIN COURSE PORTAL HERE