Episode
[Series 65] 26, ADRs REITs and Other Equity Securities
- Podcast
- Open Exam Prep
- Published
- Apr 19, 2026
- Duration seconds
- 183
- Processing state
not_requested
Actions
POST https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-65-26-adrs-reits-and-other-equity-securities/transcription-requests
Idempotently request low-priority transcript generation for this episode.GET https://stenobird.com/podcast/open-exam-prep-7140559/series-65-26-adrs-reits-and-other-equity-securities.md
Read the agent-friendly Markdown representation of this episode resource.
Summary
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: - American Depositary Receipts (ADRs) trade in U.S. dollars but expose investors to significant currency risk. - Real Estate Investment Trusts (REITs) must distribute at least 90% of their net investment income to shareholders to avoid corporate-level taxation. - Rights are short-term instruments issued to existing shareholders to let them maintain their proportionate ownership during new share offerings. - Warrants are long-term instruments, often used as sweeteners, with an exercise price set above the market price at issuance. - The Series 65 exam frequently tests the distinctions between rights and warrants, particularly their timeframes and initial exercise prices. 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