Series 65 Math Drill

How to use it

Practice gives one question at a time and shows the worked solution after each answer. Your streak and best streak are kept; the best streak is remembered on this device only.

Exam of 10 gives ten questions from the topics you chose, fifteen minutes in all, with no answers shown until the review. You can go back before you finish.

Typed answers accept dollar signs, commas and percent signs. Pick Choices for exam-style multiple choice, or Mixed for some of each. With the keyboard, Tab moves between controls, arrow keys move between choices, and Enter checks.

Conventions this drill uses

• Bonds are $1,000 face. Corporate and municipal accrued interest uses 30/360 and runs from the last coupon date up to, but not including, settlement.
• Treasury quotes after the dash are 32nds (98-16 is 98½% of face); corporate quotes use fractions of a point.
• Real return uses the exam’s quick method, nominal − inflation, unless a question asks for the exact figure.
• Margin uses Regulation T 50% initial and FINRA minimum maintenance: 25% long, 30% short.
• Tax brackets are stated “in this example.” Up to $3,000 of net capital loss offsets ordinary income each year ($1,500 married filing separately).
• An option contract covers 100 shares.

Try it

1. Turn on only the five bond topics and run a practice streak of 10.
2. Take an exam of 10 with every topic on. Which misses share a mistake?
3. In “Yields at a discount or premium,” say the rule out loud before you choose.
4. Work three accrued-interest questions on paper, counting each month as 30 days, before you check.

“The thoughts of the diligent tend only to plenteousness; but of every one that is hasty only to want.” Proverbs 21:5