Customer Reviews

Pass the 65: A Training Guide for the Nasaa Series 65 Exam

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This books has gotten nothing but great reviews from its users on Amazon. I just finished taking the Series 65 test today and let me tell you, this book "almost" gets the job done. The previous reviewers all sounded very similar and it made me hesitant in purchasing this book, but nonetheless I did and it was helpful, though not to the point where this book ALONE would help you pass the test. The previous reviews sounded so generic and repetitive (to a point where its suspicious), so I am going to give a realistic review of this study material.

Don't get me wrong, Walker did a great job explaining difficult concepts into plain English that allowed the reader to better understand the full meaning of all the difficult concepts. Unfortunately, I find myself asking why are some information missing. Besides using Walker's book, I used the Kaplan's 1st Edition in studying for the Series 65. Kaplan's strength was Walker's weakness in the sense that Kaplan covered much more materials than Walker. One might argue that you don't need that much detail to just pass the test, but having taken the test myself, there are questions that get quite detailed.

Examples of materials that Walker should have covered more grounds were the Investment Company Act of 1940 and the different types of trusts just to name a few. Kaplan does a great job covering those materials, however, it is a very dry read. In addition Walker needs to completely rewrite his section on "retirement accounts" because he got it all wrong. He claim that SEP and SIMPLE IRA are non-qualified plans, which is totally wrong. Payroll deductions are non-qualified plans. So he needs to edit that part all together. I am glad I have the Kaplan book because I would have gone into the test with the wrong information if I had only relied on Walker's explanation. The other thing that annoyed me was that the book referred you to his passthe65.com website to get updated information, but unfortunately, when you get to that website, you'll find no updates and just a website that sells his products. I don't think it's hard to create a web page with updated info and Walker should consider doing that since his books keeps telling his readers to go to that website to find updated info.

In addition to the context, the three practice exams that come with the book is TOO EASY. If I were to give them skill level ratings on a scale of 1-5 (1 being easiest), I would say most the questions were around 1-2 in difficultly and one or two questions are at 3 rating. If you want to pass Series 65, you must deduct about 15% - 20% off your score on Walker's sample test to get an estimate as to how well you'll do on the actual test. I recommend Kaplan's Drill CD set which contains over 2300 questions that can be randomly generated to create different tests each time the user uses it.

Overall, Walker does a great job in explaining all the main big concepts (most testable points) so that his readers can fully understand the subject, but the book alone won't guarantee that you'll pass the test. Don't get me wrong, it did help me. However, my reasoning for my rating is that the book didn't discuss some other important concepts and also the practice questions were not representative of the actual test in a negative way (too easy). In addition, the whole retirement section needs to be rewritten. I recommend using this book along side a Kaplan's book to ensure passing of the test. Only if Kaplan would hire Walker to write their text, then the result would be an easy to understand book that covers ALL th testable subjects. It'll probably be the best material out there. But hey, we don't live in a perfect world.

By the way, I did pass the test on my first try. :-)

The previous poster below me, "S. Wang" is certainly correct in saying that some of the previous reviews here are awfully suspicious. Many of them can be seen as two-three sentences praising the book on similar points of humor and how Walker has made a great experience. Many of them sadly, feel fake and often quite scripted. As we have seen, there have a been a rise in fake reviews fluffling books for higher sales. If this is true or not for this book, perhaps only Amazon actually will know.

Style
I will elaborate into how this book did and did not help, hopefully helping out anyone before they fuel a 70 dollar purchase. If you enjoy humorous reading, then you will probably enjoy this book. Walker tries, although sometimes too hard, to be funny throughout the book. Sometimes it works. If you're easily amused, you may find that you enjoy this book quite a lot. However, if simple humor doesn't interest you, you will find it tedious and annoying to read a paragraph about a fabricated story between an idiotic human and their interactions with an agent of a broker-dealer. When I was reading through this, I was slashing with my pen right and left to eliminate entire paragraphs, sometimes, even half of pages, regarding as unnecessary and fluff. With 300+ pages of actual content to read, this book isn't exactly by any means to skim.

Content
Did this book get the job done? As previously stated below me, yes and no. Due to complications, though considerably more my fault, over Spring Break, I needed to get this exam out of the way. I signed up for an exam that administered two days later. Of course, I disregarded the first day and ignored studying. However, the day prior to studying, I sat down and read the book cover to cover over the course of twelve hours. I felt nervous and not very confident when taking the exam. All was going well into, well, the exam strokes a series of unethical questions and practices. Material, that unfortunately, had not yet been covered by the book. I was quite nervous at the time and discovered to my dismay, a continuation of more material that had not been covered. I realize that some readers will be thinking, "Did he merely just forget in his late night cramming?" I am quite sure the crucial information was not in the book. I knew full well ahead of time of things I "forgot" and material that I had never seen before. But, I did pass. So, that may be compared and contrasted with who wants to purchase this book.

A quick forewarning though - brevity is not Walker was aiming for. I am sure that Walker could have contained still quite a plethora of his jokes and still cut down his book seventy pages. You will notice immediately that his book is filled with them. If you enjoy them, which I know some have, it will help. However, if you're looking for a book to get the job done , then perhaps this study guide is not for you. However, if you are normal and sane, you will probably enjoy them. Needless to say, when you're tired, lacking sleep, and worried about a three hour exam in the morning, jokes are the last thing you are concerned about. If you know for a fact you won't procrastinate (an unlikely fact at that, or you would have already taken this exam), then I certainly recommending this. The Series 65 is not a difficult exam. It is no CFP, or by no means ever comparable to a CFA (in fact, putting the Series Exams in the same sentence with the CFA insults the latter tremendously). This book will get the job done. Just make sure the material that is covered in this material is remembered. By doing so, you can compensate for the lack of information about certain Acts and Laws the book does not mention.

However, if you're goal is to absolutely score 85+, I would recommend using two separate books. I didn't, but I did wish I had at 4:52AM this morning.

I purchased two other Series 65 study material from some of the major publishers and was met with overly technical information that was difficult to follow and did not capture my attention.

After reading a short part of Robert Walker's material, I decided to give it a try. Walker understand what it's like to be an agent and he writes in a fun, humorous way in order to get this confusing material to sink in. He also used great scenerios to help explain how things work, like options, which until now I couldn't begin to tell you how they work. Every time I think about options now, I try to think about the guy at the bar who orders a Jack & Pepsi.

After three weeks of studying every day, I passed the 65 with ease. I was so confident of my knowledge that after the first 20 questions in the exam, I knew I would pass. My final score was a 78%.

No material will prepare you for 100% of the exam questions, which doesn't matter, because you only need a 70% to pass. Luckily for me I didn't have any questions that required a calculator or answer a question about options, but I was prepared for both. Do remember, there will always be questions you aren't prepared for, just know with this material you will be prepared to pass with more than 70% if you put forth the time.

If you want a fun way to study for the Series 65, then this book is for you.

I have been reading the Walker "Pass the 65" book in preparation for the Series 65, and I can tell you before I even take the test that it was not worth the money I paid for it.

First off, the book and material skip over vast sections of information included on the test. How do I know? Because Walker doesn't even cover a lot of the material that is included in his sample test CD that includes queastions from the Series 65! I understand that his goal is simply to help you pass the test, but I'm one of those people who also wants to understand ALL of what the test encompasses. The lack of coverage on these topics was quite dismaying. So much, in fact, that I found it easier to take the tests, find out what he didn't cover in the text, and learn about them on my own. It was the only way to ensure that the material would be covered.

Problem #2: A textbook writer Walker ain't. And expect to find language as bad as that last sentenced throughout the book. Some of the language and wording is confusing. That has nothing to do with the language of the Series 65, but with the fact that Walker has trouble with his sentence structure and omits necessary words throughout. This can also be found on his sample tests. One of the most frustrating parts of the Walker experience for me was the utter uselessness of his index and glossary. Here again, a number of items that show up in the 895-question sample test disc are missing from these portions of the book. Want to find them? Good luck. It takes a lot of searching through the book to even find mention of what he does include.

The third problem I had was again with the language. Some have mentioned problems with his jokey way of handling the material, and I agree. He rambles on at length about his personal experiences, often failing to relate them to the material. This is often distracting when trying to learn and understand the material.

Aside from that, the only part of the Walker package that was really useful was the CD that randomly administered sample tests from a pool of 895 questions. That was a big help. It also provides a section to review incorrect answers at the end of the tests, so you can go back, take notes and research what you got wrong (though, as I said, you will often have to look elsewhere from Walker's material to find the information you need).

I studied this book for 5 hours a day for a month, and failed with a 66%. I then studied hours on end each day for another month, and failed with a 65% (second attempt), effectively losing my job. I hold a Series 7, 63, and 55 (passing all on the first try using Dearborn materials). If you want a broad overview of the test, this book is perfect. If you want to pass the test, look at a different study guide!

...if you don't know anything about the subject, you don't want to be bored to death, and you want to pass the 65 on the FIRST try.
I can't say enough for the book. I tried the Dearborn materials, and they were nothing but dry and confusing, written by somebody "in the business", and who was obviously not able to organize and communicate in an effective way. Their materials are voluminous, like over 500 pages or so. This book is easy to read and actually entertaining at times, which helps, because let's face it, regulations are boring.

Now, you have to remember, I am an attorney, I have a BA, an MS and a JD, and am working on an MBA as I write this. I don't consider myself the smartest guy in the world, but I'm no bum, either. I know how to learn, at least, and I know when materials hit the nail on the head, and when they don't. These materials are the best I've found, and I looked around for quite a while. Do you have to study? YES. It's NOT easy, but if you go through the materials, memorize what you're told to memorize, and take ALL of the practice tests and learn from them, you WILL PASS. I know people who failed. They used other materials. I turned them on to these materials, and they passed. There is no short cut to passing this bear of a test. Study a lot and hard. The secret is good materials like the Passthe65 (or the the Passthe6, and Passthe63, for that matter).

I'm writing this because I have referred many people to the Passthe65 book, and want others to know how good the book is. I don't write reviews because I don't have the time. This is an exception, because it saved me time, and that's worth talking about. My suggestion is to forget Dearborn and the others, unless you just want to buy some more sample test questions from them (which I did...it's not really necessary unless you're a glutton for confidence-building, like I am, since you get a ton with the Passthe65), and get this book. You won't be sorry, and you may even laugh once in a while while you study this otherwise very boring subject (remember, I am a lawyer, so I know boring). If not, good luck.

Over the past 20+ years, we've tried all of the other test preparation providers(Dearborn, Passtrak, et al). Our registered reps have scored much higher on exams, have spent less time studying, and have much better retention of the content even months AFTER taking the exam using the Passthe65, Passthe63, and Passsthe6 materials. A significant educational breakthrough which has resulted in major time and cost savings for our firm.

Donald L. Smith, MBA, MSFS, CFP, CLU, CHFC, CEBS, CFS, CDFA, ARPS, AIF, AIFA
Provident Private Capital Partners

I don't believe there is any one single preparation material out there that covers everything that could be on the exam. And this book is no exception.

My opinion: this book covers about 70% of the material on the exam. So if you learn everything in the book or if you are already have experience of the industry, you might just know enough to pass the exam. If you want to be more certain in passing the test on the first shot then get "Series 65 Uniform Investment Adviser Law Exam" plus its simulation exams on CD. The computer-based practice exams are very helpful. The book has a better index and explainations that are short and to the point. Although dryer to read, the book covers more grounds (~80%) than Mr. Walker's.

Although the book engages you enough to get through some fairly boring material, it just isn't detailed enough as a stand-alone study guide for the Series 65. I never even finished it because I didn't learn enough to do decently on the practice tests from the more serious vendors (STC, Kaplan). Read this if you want to learn some general concepts but I do not recommend relying on it as a serious study tool.

The Series 65 exam is a beast, but this book prepared me as well as can be expected. Here is the bottom line: study this book, do all the practice exams at least twice, take the exam seriously, and you will pass. The 65 is trying to flunk out as many 'tire-kickers' as possible, and they play 'hardball.' Many of the questions on the exam cannot be found in ANY prep book. That is why you need to overprepare if possible. But, the PASS THE 65 will get you where you need to go. Nice job Robert!