[Series 66] 46, Discretionary Authority and Trading Permissions

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 difference between discretionary trading and time and price discretion under state rules. * Prior written authorization requirements for broker-dealers and agents under the Uniform Securities Act. * The ten business day oral discretion window for state-registered investment advisers under NASAA model rules. * Common exam traps surrounding trade authorization timing between broker-dealers and investment advisers. * How to distinguish state regulatory mandates from internal firm policies on test day. Prepare for your Series 66 exam with independent practice tools at https://open-exam-prep.com/practice/series66 and watch video tutorials at https://www.youtube.com/@Open-exam-prep . Sources checked: September 14, 2026 https://www.nasaa.org/wp-content/uploads/2023/02/Series-66-Outline-June-2023.pdf https://www.nasaa.org/exams/general-exam-information/series-66-exam-content-outline/