STC SERIES 66 EXAM 03A EXAM WITH
CORRECT QUESTIONS AND ANSWERS
2025
Which of the following persons is an example of a fiduciary? - CORRECT-ANSWERS-A trustee
Erica has just received a subpoena requiring her to testify at a hearing regarding the advisory
firm for which she works. Erica's supervisory tells her that if she testifies and tattles on the
firm, she may as well look for other employment. What should Erica do? - CORRECT-
ANSWERSComply with the subpoena and testify
An agent receives an unsolicited order from a customer who wants to purchase a large
amount of a speculative stock. Although the client has the financial resources to bear the risks
of the investment, the agent does not think the purchase fits the client's investment
objectives. Which of the following steps is inappropriate? - CORRECT-ANSWERSIgnoring the
customer's order since the agent feels the security is unsuitable
, Net long-term capital gains are taxed as ordinary income at the individual's tax bracket, up to
a maximum of: - CORRECT-ANSWERS20%
One of the most common uses for a bypass trust is to: - CORRECT-ANSWERSPass assets
from the second deceased parent to his children
You are the executor of your parents' estate. Which of the following investments would be
the most suitable for the estate? - CORRECT-ANSWERSTreasury bills
All of the following individuals do not have unlimited liability, EXCEPT: - CORRECT-
ANSWERSA general partner
Investments used to calculate liquid net worth would exclude all of the following choices,
EXCEPT: - CORRECT-ANSWERSA growth mutual fund
CORRECT QUESTIONS AND ANSWERS
2025
Which of the following persons is an example of a fiduciary? - CORRECT-ANSWERS-A trustee
Erica has just received a subpoena requiring her to testify at a hearing regarding the advisory
firm for which she works. Erica's supervisory tells her that if she testifies and tattles on the
firm, she may as well look for other employment. What should Erica do? - CORRECT-
ANSWERSComply with the subpoena and testify
An agent receives an unsolicited order from a customer who wants to purchase a large
amount of a speculative stock. Although the client has the financial resources to bear the risks
of the investment, the agent does not think the purchase fits the client's investment
objectives. Which of the following steps is inappropriate? - CORRECT-ANSWERSIgnoring the
customer's order since the agent feels the security is unsuitable
, Net long-term capital gains are taxed as ordinary income at the individual's tax bracket, up to
a maximum of: - CORRECT-ANSWERS20%
One of the most common uses for a bypass trust is to: - CORRECT-ANSWERSPass assets
from the second deceased parent to his children
You are the executor of your parents' estate. Which of the following investments would be
the most suitable for the estate? - CORRECT-ANSWERSTreasury bills
All of the following individuals do not have unlimited liability, EXCEPT: - CORRECT-
ANSWERSA general partner
Investments used to calculate liquid net worth would exclude all of the following choices,
EXCEPT: - CORRECT-ANSWERSA growth mutual fund
