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PODCAST

Open Exam Prep

Ran Chen, EA, CFP®

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

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All Episodes

03:25

Series 7 Exam Prep 92, Options Breakeven and Strategy...

Open Exam Prep ·

2026/09/07

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: - To calculate breakeven for calls (strike + premium) and puts (strike - premium). - The covered call breakeven is stock cost minus the premium, with max gain limited

en

04:49

Series 7 Exam Prep 91, Options Indexes and...

Open Exam Prep ·

2026/09/06

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: - Index options are cash-settled, meaning no underlying securities are exchanged upon exercise. - Most index options are European-style and can only be exercised at

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03:25

Series 7 Exam Prep 90, Customer Account Restrictions...

Open Exam Prep ·

2026/09/05

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: - Regulation T requires customers to pay for securities in a cash account within two business days of the settlement date. - Freeriding is the prohibited practice of

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03:09

Series 7 Exam Prep 89, Markups, Markdowns, and...

Open Exam Prep ·

2026/09/04

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 critical distinction between a broker-dealer acting as an agent (broker) versus a principal (dealer). - How commissions are charged in agency transactions, and

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03:46

Series 7 Exam Prep 88, Accrued Interest and Bond...

Open Exam Prep ·

2026/09/03

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 buyer of a bond pays the accrued interest to the seller. - How to calculate the accrued interest period: from the last coupon date up to, but not including,

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03:46

Series 7 Exam Prep 87, Municipal Trading and Pricing

Open Exam Prep ·

2026/09/02

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: - Municipal serial bonds are typically quoted on a yield-to-maturity (basis) basis, while term bonds are quoted in dollars. - MSRB rules require disclosing the 'yield

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03:42

Series 7 Exam Prep 86, Investment Banking and...

Open Exam Prep ·

2026/09/01

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 critical distinction between a 'firm commitment' (underwriter as principal, takes risk) and 'best efforts' (underwriter as agent, issuer retains risk)

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02:52

Series 7 Exam Prep 85, Tender Offers, Mergers, and...

Open Exam Prep ·

2026/08/31

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: - A tender offer must remain open to shareholders for a minimum of 20 business days. - Stock splits and reverse stock splits do not change the total market value of a

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02:48

Series 7 Exam Prep 84, Penny Stocks and Low-Priced...

Open Exam Prep ·

2026/08/30

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: - A penny stock is an unlisted (non-Nasdaq) security trading under $5 per share. - For solicited penny stock sales to new customers, a firm must provide a risk

en

03:25

Series 7 Exam Prep 83, Customer Complaints and...

Open Exam Prep ·

2026/08/29

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: - A customer complaint must be in writing (e.g., email, text, letter) to be officially recognized under FINRA rules. - All written complaints must be immediately

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04:16

Series 7 Exam Prep 82, Customer Recommendations by...

Open Exam Prep ·

2026/08/28

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: - Why young accumulators with long time horizons should focus on growth-oriented investments like mid-cap stocks. - The importance of tax-advantaged investments, such

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03:27

Series 7 Exam Prep 81, Taxation of Investments

Open Exam Prep ·

2026/08/27

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 different tax treatments for ordinary income, qualified dividends, and tax-exempt municipal bond interest. - How holding periods determine whether a capital gain

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04:58

Series 7 Exam Prep 80, Diversification, Correlation,...

Open Exam Prep ·

2026/08/26

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: - Why owning many stocks in the same sector isn't true diversification and how the Series 7 tests this concept. - How to use correlation, from -1 to +1, to select

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03:36

Series 7 Exam Prep 79, Portfolio Risk and Return

Open Exam Prep ·

2026/08/25

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: - Systematic risk is undiversifiable market-wide risk, while unsystematic risk is company-specific and can be reduced through diversification. - Interest-rate risk and

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03:51

Series 7 Exam Prep 78, Interest Rates and Yield Curves

Open Exam Prep ·

2026/08/24

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: - A normal yield curve signals economic expansion, with long-term yields higher than short-term yields. - An inverted yield curve, where short-term yields exceed

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03:26

Series 7 Exam Prep 77, Federal Reserve and Monetary...

Open Exam Prep ·

2026/08/23

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 three primary tools the Federal Reserve uses to implement monetary policy: open market operations, the discount rate, and reserve requirements. - How the Fed's

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03:06

Series 7 Exam Prep 76, Economic Indicators and...

Open Exam Prep ·

2026/08/22

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: - A recession is defined as two consecutive quarters of negative GDP growth. - Leading indicators, like building permits and the S&P 500, predict future economic

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03:46

Series 7 Exam Prep 75, Municipal Securities Rules and...

Open Exam Prep ·

2026/08/21

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 MSRB creates rules for the municipal securities market but does not have enforcement authority; enforcement is handled by agencies like FINRA and the OCC. -

en

04:38

Series 7 Exam Prep 74, Investment Company Act and...

Open Exam Prep ·

2026/08/20

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 required composition of a mutual fund's board of directors under the Investment Company Act of 1940. - The rules and restrictions surrounding transactions with

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03:20

Series 7 Exam Prep 73, Securities Exchange Act of 1934

Open Exam Prep ·

2026/08/19

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 core distinction between the Securities Act of 1933 (new issues) and the Securities Exchange Act of 1934 (secondary market trading). - Key responsibilities of

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