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Open Exam Prep

Open Exam Prep

By: Ran Chen EA CFP®
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 Open Exam Prep: Mastering Financial Exams The path to becoming a certified financial professional is known for its difficulty, and finding high-quality, accessible study material shouldn't be the hardest part. Created by Ran Chen—an AI application enthusiast, Financial Advisor, and holder of the EA (Tax), Life Insurance, Series 6/63/65, and CFP® designations—this podcast was born from personal experience. Having navigated these challenging exams himself, Ran realized the need for better resources and created Open Exam Prep as a free solution for aspiring professionals. Each episode breaks down complex major exam topics into clear, digestible lessons, covering everything from tax planning and estate strategies to retirement solutions and investment principles. Whether you’re studying during your commute, workout, or downtime, we are here to guide you—one question, one topic, one victory at a time. Visit for more content: https://open-exam-prep.com/Copyright 2026 Ran Chen, EA, CFP® Education
Episodes
  • [Series 65] 40, Suitability and Know Your Customer

    [Series 65] 40, Suitability and Know Your Customer
    May 3 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That the Know Your Customer (KYC) rule requires gathering all relevant financial information before making any recommendations. - Why Investment Adviser Representatives (IARs) are held to a fiduciary standard, which is a higher legal duty than the suitability standard. - How a recommendation can be technically "suitable" but still violate the fiduciary standard if it is not in the client's absolute best interest. - That an IAR is prohibited from making recommendations if a client fails to provide sufficient personal and financial information. - How to properly handle an unsolicited client order for an investment that the IAR deems unsuitable. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • [Series 65] 39, Accredited Investors and Qualified Purchasers

    [Series 65] 39, Accredited Investors and Qualified Purchasers
    May 2 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The specific income ($200k/$300k) and net worth ($1M) thresholds for an Accredited Investor. - Why the value of a primary residence is a common exam trap in the net worth calculation. - The definition of a Qualified Purchaser, focusing on the $5 million in investments requirement. - How these definitions allow access to private placements and hedge funds under Regulation D and the Investment Company Act of 1940. - The key hierarchy: all Qualified Purchasers are Accredited Investors, but not all Accredited Investors are Qualified Purchasers. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    4 mins
  • [Series 65] 38, Trusts and Estates as Clients

    [Series 65] 38, Trusts and Estates as Clients
    May 1 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key tax and control differences between revocable and irrevocable trusts. - The fiduciary responsibilities of a trustee under the Uniform Prudent Investor Act. - How trusts and wills interact with the probate process in estate planning. - The purpose and application of the Generation-Skipping Transfer Tax (GSTT). - A mnemonic to easily distinguish between revocable and irrevocable trusts for the exam. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
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