u/Kitchen-Mistake678

Image 1 — 4th times a charm... the full write up
Image 2 — 4th times a charm... the full write up

4th times a charm... the full write up

Proud to finally have the opportunity to share this post!

Throughout this long arduous process I've used the following test prep providers: Kaplan, STC, and Achievable, but not at the same time, in different stages. I initially started with Kaplan, and to be honest I'm glad I switched as I felt super prepared with Achievable more than I did with Kaplan or STC.

Before my Kaplan subscription ran out I was scoring in the low to mid-80's on their practice exams. Then when I switched to Achievable, my scores sank down into the low 50's. Different question style, and much more difficult, yet I felt Achievable got to the core of the question and why an answer was right when there are two right answers, which one was the more correct option. That took me a bit to wrap my head around.

Okay... so what did I do different this time besides switching up test prep providers? Let me unpack that, but also provide some context.

I don't come from the finance industry. I come from 15 years of consumer insights in corporate. I have an MBA, undergrad in econ, and I had not too recently passed the SIE (with STC).

I haven't been a good test taker in the past, so I knew I had to put in double the work. But one thing I told myself was regardless of today's outcome to not over focus on the results and place my ability, self worth, or intelligence on whatever the screen says today. Yet, I had been here before with three consecutive fails, so why should this time be any different?

Well, if I didn't pass today, sure I'd be bummed, but I told myself I'd take a break from the 65 and aim for the 63 or 66. I also didn't want to have to wait 6 months. But I also knew I've been putting in the work, so if anything I should be proud of myself rather than rely upon external screen for validation. As simple as that sounds, it was a subtle game changer to my mental state today.

In preparation, I took my old scores and doubled down on Economic Factors & Business Information and Investment Vehicle Characteristics (sections 1 & 2) as those areas historically have haunted me. I re-read those sections in the Kaplan learning manual and hammered down a ton of section quizzes in Achievable within the same sections. My comprehension slowly improved.

My readiness score on Achievable was 89%.
I took 10 full practice exams and with my last practice exam scoring 87%. I felt these helped me the most in two ways: 1) pacing and building endurance, and 2) repetitions of missing the same question types over and over. This allowed me to stop banging my head against the wall in frustration, because now I could see that I was misunderstanding what was being asked either through the double negative question type, or not fully reading the question and answer choices in critical detail. So many times I would rush as I treated it like a chore. Big mistake, which is what cost me so much time.

I studied everyday from 3-5 hours in the evening and used Saturday's as full practice exam days and Sunday's were for review.

For the past month I've been meditating everyday for roughly 20 mins. Nothing too crazy or hippy, just trying to focusing on my breathing and get out of my head and calm my nerves from life in general.

I was also in the gym 3-4 days a week. While at the gym I listened to Dean's Mighty 90 on repeat for the past two weeks.

I also made flash cards with Claude to drill in concepts I was struggling with. And would sometimes run questions through Claude to explain a question or answer set in various ways for me to better understand it, while also being on the lookout for question traps. That process helped me grasp keywords and common word traps that I was previously blind to.

Happy to help answer question or provide additional context to my preparation. For those on your second, third, or forth attempt... please keep going! You're closer than you realize. I hope you continue press on so you can feel the redemption that I feel today.

Okay, I'm off to take a long nap! 😴

u/Kitchen-Mistake678 — 6 days ago

Private placement... Reg D vs. USA

I'm just learning that private placement really has two filters within a 12 month period:

  1. USA (uniform securities act) caps retail investors at 10 where as
  2. Reg D of '33 caps retail at 35.

So, State has a lower ceiling than Federal, makes sense now that I think about it. Anyways, just wanted to share as I kept finding these overlapping areas.

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u/Kitchen-Mistake678 — 12 days ago

Contemplating scheduling soon... thoughts?

My last recent full practice exams were 82%, 84%, 82% and 78% on Achievable.
I feel like I have the stamina now and am completing with 25 to 30 mins to spare and not feeling like I'm rushing. My plan is to keep going through the content, take a few mini section quizzes, and maybe one or two more full practice exams.

u/Kitchen-Mistake678 — 15 days ago

CE requirements

While rare to receive in Kaplan's Qbank, on my last 65 attempt I had three CE questions which threw me off. Anyways, I thought I'd share one that got me on my most recent practice.

Explanation below from Achievable:

The North American Securities Administrators Association (NASAA) imposes annual CE requirements for lARs, which are:

IAR Regulatory and Ethics Content

• 6 total credits

• At least 3 credits dedicated to ethics

IAR Products and Practice Content

• 6 total credits

Therefore, lARs are required to complete 12 total credits on an annual basis. If an IAR were dual-registered as an agent, they would not be required to complete the IAR Products and Practice Content, resulting in only 6 credit hours required annually. One credit must equal at least 50 minutes (roughly 1 hour) of educational instruction.

Agents are subject to annual CE requirements too, but those requirements are imposed by the Financial Industry Regulatory

Authority (FINRA), not NASAA.

u/Kitchen-Mistake678 — 17 days ago

Language trap with State de minimis exemption

"No more than 5" = "fewer than 6" = "less than 6" all mean the same threshold, just phrased differently. De minimis is Latin for “of minimal things.

u/Kitchen-Mistake678 — 17 days ago

FINRA PDT rule 4210

For the veterans in the group. With PDT (Pattern Day Trading) recently eliminated, how long does it typically take NASAA to update their exams as this seems to be an active regulatory season.

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u/Kitchen-Mistake678 — 23 days ago

Loan consent form for Margin Accounts

Isn't legally required, yet in reality Broker Dealers still require it in order to open a Margin Account. I keep finding these exceptions on what NASAA has deemed fair play but differ from reality.

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u/Kitchen-Mistake678 — 27 days ago

Margin Agreement: NASAA vs FINRA

Just learning of this nuance and wanted to confirm, has anyone else come across it?

  • NASAA Series 65: The margin agreement can be signed and returned after the first margin trade is executed (it must be obtained promptly afterward).
  • FINRA SIE, Series 7, Series 6: The margin agreement must be signed before or at the time the first margin trade occurs.

This is one of the rare cases where state rules are less restrictive than FINRA. Anyone else notice this while studying?

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u/Kitchen-Mistake678 — 28 days ago

Test center meltdown?

Curious to know if anyone has experienced someone in the testing center having a meltdown? While that would be highly disruptive and disrespectful to the other test takers, I know others are there taking exams for a host of other licenses and certifications across other fields which are considerably longer, sometimes 6-8 hours. The pressure for some seems heightened based upon their body language and facial expressions. So I'm curious if a table or two has been flipped.

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u/Kitchen-Mistake678 — 1 month ago

Practice exams

Was consistently scoring high 70's to low 80's on my Kaplan Qbank full practice exams.
My subscription was expiring so I picked up Achievable. First practice exam with Achievable 64% much more difficult questions in my experience.

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u/Kitchen-Mistake678 — 2 months ago