Episodios

  • [SIE] 10, Market Participants

    [SIE] 10, Market Participants
    Dec 18 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam exam. In this episode you will learn: - The distinct roles of broker-dealers, investment advisers, and market makers. - The definition of an agency transaction, where a firm acts as a broker. - The definition of a principal transaction, where a firm acts as a dealer. - How to identify the compensation for each role: commissions for agents and markups/markdowns for principals. - A mnemonic to remember the difference: ABC (Agent, Broker, Commission). For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 9, The Underwriting Process

    [SIE] 9, The Underwriting Process
    Dec 17 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The key differences between firm commitment and best efforts underwriting and who bears the financial risk in each. - How an underwriting syndicate is formed to share risk among multiple investment banks. - The specific role of a selling group and why its members have no financial liability for unsold shares. - The purpose and rules of the 20-day cooling-off period in the IPO process. - What activities, such as distributing a red herring and taking indications of interest, are permitted and prohibited before a new issue becomes effective. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 8, Types of Securities Offerings

    [SIE] 8, Types of Securities Offerings
    Dec 16 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The difference between a primary offering (IPO) and a secondary offering based on who receives the proceeds. - How follow-on offerings differ from secondary offerings, a common point of confusion. - What defines a private placement under Regulation D and who is eligible to participate. - The definition of restricted and control securities and why they are treated differently. - The key requirements of SEC Rule 144, including the six-month holding period for restricted securities. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    3 m
  • [SIE] 7, Fiscal Policy

    [SIE] 7, Fiscal Policy
    Dec 15 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The definition of fiscal policy as the government's tool for managing the economy through taxation and spending. - The fundamental difference between fiscal policy (controlled by Congress and the President) and monetary policy (controlled by the Federal Reserve). - How expansionary fiscal policy, using tax cuts and increased government spending, is used to combat a recession. - How contractionary fiscal policy, using tax increases and decreased government spending, is used to fight inflation. - A simple 'Gas vs. Brake' analogy to remember when each type of policy is appropriate for different economic conditions. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 6, Monetary Policy Tools

    [SIE] 6, Monetary Policy Tools
    Dec 14 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - How the Federal Reserve uses open market operations by buying or selling securities to manage the money supply. - The distinction between the discount rate, set by the Fed, and the market-driven federal funds rate. - Why changing the reserve requirement is the Fed's most powerful, but least used, monetary policy tool. - The specific actions the Fed takes to implement expansionary (easy money) versus contractionary (tight money) policies. - A simple mnemonic to remember open market operations: FED BUYS makes the money supply BIGGER, and FED SELLS makes it SMALLER. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 5, The Federal Reserve System

    [SIE] 5, The Federal Reserve System
    Dec 13 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The decentralized structure of the Federal Reserve System, including the Board of Governors and 12 regional banks. - The Fed's dual mandate of achieving maximum employment and maintaining stable prices. - The composition and primary role of the Federal Open Market Committee (FOMC) in setting monetary policy. - How the FOMC uses open market operations to influence the federal funds rate. - Common exam traps, like distinguishing the Fed's monetary policy from the government's fiscal policy. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 4, Business Cycles

    [SIE] 4, Business Cycles
    Dec 12 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The four phases of the business cycle: expansion, peak, contraction, and trough. - How rising and falling GDP and inflation characterize each economic phase. - Which stock sectors, like cyclical and defensive, perform best in different cycles. - The inverse relationship between interest rates and bond prices during contractions. - A simple mnemonic to remember the cycle order and associated investment strategies. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m
  • [SIE] 3, Economic Indicators

    [SIE] 3, Economic Indicators
    Dec 11 2025
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam. In this episode you will learn: - The difference between leading, lagging, and coincident economic indicators. - Why the S&P 500 and building permits are considered leading indicators. - How Gross Domestic Product (GDP) provides a real-time snapshot of the economy. - The critical distinction between initial unemployment claims (leading) and the unemployment rate (lagging). - How the Consumer Price Index (CPI) measures inflation and influences Federal Reserve policy. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818
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    4 m