Series 65 Investment Vehicles Practice Questions
II · Investment vehicle characteristics · 32 of 130 scored questions
Ten Series 65 questions on investment vehicle characteristics, untimed, with a worked answer after each one.
Or take the full Series 65 mock examAn employee exercises nonqualified stock options with a $20 exercise price when the stock trades at $35. What is the federal income tax consequence at exercise?
Investment vehicle characteristics on the Series 65
Section II of the Series 65 (32 scored questions) covers how each investment works, how it is valued and what it risks.
- Outline
- II: Cash equivalents, bonds, stocks, pooled investments, derivatives, alternatives and insurance products
- Share of the exam
- II Investment vehicle characteristics: 32 of 130 scored questions (25%)
- Our drill
- 10 questions from 50 on this topic, untimed, a worked answer after each; one free attempt, unlimited with a pass
What to know
- Duration measures a bond’s price sensitivity to rate changes: the longer the maturity and the lower the coupon, the higher the duration.
- Treasury bills, commercial paper, banker’s acceptances and money market funds are cash equivalents; a negotiable CD of $100,000 or more trades in the secondary market.
- Open-end funds redeem at NAV; closed-end funds trade on exchanges at a premium or discount; ETFs trade intraday and are usually more tax-efficient than mutual funds.
- A fixed annuity guarantees a rate and is not a security; a variable annuity’s value depends on its subaccounts and is a security.
- Futures are standardized exchange-traded obligations marked to market daily; forwards are private contracts with counterparty risk.
Test yourself on investment vehicle characteristics
Ten Series 65 questions on investment vehicle characteristics, untimed, with a worked answer after each one.
Or take the full Series 65 mock examCommon questions
How many investment vehicle characteristics questions are on the Series 65?
Section II is 32 of the 130 scored questions (25%).
Are these real Series 65 questions?
No. FINRA and NASAA do not release exam questions. These are original practice questions written to the official content outline, with a worked explanation and the rule behind every answer.
More Series 65 topics
Outline and exam facts checked November 2026: FINRA: Series 65 exam · NASAA Series 65 content outline · NASAA Series 65 study guide · NASAA: Exam FAQs.
Original independent practice questions written to the published NASAA content outline. Not affiliated with or endorsed by FINRA or NASAA.