Our newsletter is published at the beginning of the month. Here are your headlines from the month of May.
 
 
 
 
 
Solomon Exam Prep Updates
 
 
 
 

"I previously failed my attempt at the Series 63...But in analyzing why, I began to understand that I needed a more comprehensive approach to studying as well as more variety.
I looked in to a few options and came across Solomon Exam Prep.
What I enjoyed and found the most useful were the video presentation and practice exams with immediate feedback. Those exams enabled me to learn with explanation every time I got a question wrong (or right on a guess).
The materials are all beneficial and well worth it. I recently passed the Series 63 with a score of 85% and much of that success lies upon the use of Solomon Exam Prep. Thanks!"
-Anslem Gardner
 
 
 
 
 

Question: Which of the following is not true of commercial paper?

Answers: 
A. It is used to cover an issuer's short-term needs such as payroll and inventory
B. It typically matures in less than 90 days, but it can have a term as long as 397 days.
C. It is generally issued in lots of $100,000, but they can be sold at a discount in the primary market
D. Highly rated commercial paper is generally considered safe enough to be purchased by money market funds, but it is rarely purchased by retail investors.

Correct Answer: B. It typically matures in less than 90 days, but it can have a term as long as 397 days.

Rationale: Large corporations, banks, and financial firms with high credit ratings may issue commercial paper to cover short-term needs, such as payroll and inventory, and to finance general operations. Commercial paper is unsecured and issued at a discount, and typically matures in less than 90 days, although it can have a term as long as 270 days. It is generally issued in lots of $100,000, but they can be sold at discount in the primary market. Even though it is unsecured, because it is short-term and issued only by banks and large corporations with high credit ratings, commercial paper is generally considered safe enough to be purchased by money market funds, but it is rarely purchased by retail investors.

Congratulations Alexander B. this month's Study Question of the Month winner!

Check out the June Study Question of the Month HERE! Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.
 
 
 
 
 

Investing internationally has never been easier, especially if you don't want to invest directly in a foreign market. Today, US investors have an enormous range of mutual fund, ETF and ADR options from which to choose. However, when making a foreign investment it’s important to know that, unless currency hedging is employed, returns depend not only on the performance of the investment but also on the currency exchange rate. 
 
 
 
 
 
The Securities and Exchange Commission announced last week that next April it plans to introduce a fiduciary standard for broker-dealers. Since last month when the Department of Labor issued its fiduciary rule for tax-advantaged retirement accounts, the securities industry has been waiting to see if the SEC would join the Department of Labor in a push to raise the legal and ethical standards for broker-dealers and agents.
 
 
 
 
 

Panel discussion May 24, 2016 at the FINRA annual conference. John Kalohn, Joe McDonald and Roni Meikle from FINRA discussed coming restructure of qualification exams.
 
 
 
 
 

May 31, 2016, the MSRB announced that they will make the permanent Municipal Representative Qualification Exam (Series 50) available on September 12, 2016. On that day, a municipal advisor will be able to open a 120-day examination window for a municipal advisor representative.
 
 
 
 
 
The North American Securities Administrators Association (NASAA) has announced that it will implement updates to the Series 63, Series 65 and Series 66 examinations on July 1, 2016.
The changes are aimed at better aligning the skills and knowledge required by professionals in the securities industry.
The new exam outlines are similar to the current exam outlines, but some significant changes have been made.
 
 
 
 
 
FINRA, MSRB & NASAA Updates
 
 
 
 
May 2, 2016

May 4, 2016

May 10, 2016

May 11, 2016

May 13, 2016

May 18, 2016

May 13, 2016

May 19, 2016

May 23, 2016

May 31, 2016


June 2, 2016 

 
 
 
 
 
Other News
 
 
 
 
May 20, 2016

May 23, 2016
 
 
 
 
 
SEC Updates
 
 
 
 
April 29, 2016

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Solomon Exam Prep
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