# [Series 65] 24, Preferred Stock Types and Features

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-24-preferred-stock-types-and-features
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-24-preferred-stock-types-and-features.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-04-17T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-65-24-preferred-stock-types-and-features
Audio file: https://episodes.captivate.fm/episode/66e96b54-364e-43c8-8f21-10fc8ec0554f.mp3
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JSON: https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-65-24-preferred-stock-types-and-features
Duration seconds: 264

## Resource

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 cumulative preferred stock requires issuers to pay all missed dividends (arrears) before paying common stockholders. - How convertible preferred stock offers the potential for capital appreciation by allowing conversion into common stock, usually for a lower dividend. - Why callable preferred stock benefits the issuer, who can redeem shares when interest rates fall, creating reinvestment risk for the investor. - That participating preferred stock allows holders to receive extra dividends beyond the stated rate during highly profitable years. - How preferred stock prices are sensitive to interest rates, moving inversely to rate changes, similar to bonds. 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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## Transcript

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