NASAA Series 66 Syllabus — Topic Weights & Learning Objectives

Use this page as your blueprint-aligned checklist. It’s generated from our curriculum data so it stays in sync as outlines evolve. Work in weight order, then drill until you can explain why the wrong answers are wrong.

What’s covered

• Topic I - Economic Factors and Business Information (8%)
• Topic II - Investment Vehicle Characteristics (17%)
• Topic III - Client/Customer Investment Recommendations and Strategies (30%)
• Topic IV - Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practice (45%)

Topic I - Economic Factors and Business Information (8%)

Time Value of Money and Discounted Cash Flow (Topic I.A)

• Calculate present value (PV) and future value (FV) given a rate and time period.
• Explain, at a high level, how compounding frequency affects PV/FV outcomes.
• Interpret net present value (NPV) as the value added or removed by a series of cash flows at a required return.
• Interpret internal rate of return (IRR) as the discount rate that sets NPV to zero, and compare IRR to a required return to make a decision at a high level.
• Apply time value of money concepts to compare cash flows occurring at different times (discounting/compounding) at a high level.
• Differentiate nominal returns from real (inflation-adjusted) returns at a high level and recognize why inflation matters for long horizons.
• Identify common pitfalls in TVM questions (timeline setup, sign conventions, per-period vs annual rates) at a high level.

Descriptive Statistics and Risk/Return Metrics (Topic I.A)

• Compute and interpret mean, median, and mode, and recognize when each measure is most informative.
• Compute and interpret range and standard deviation at a high level as measures of dispersion/volatility.
• Interpret correlation and describe how correlation affects diversification benefits at a high level.
• Interpret alpha and beta at a high level and relate them to market risk and relative performance.
• Interpret the Sharpe ratio as a risk-adjusted return measure and compare two investments at a high level.
• Recognize limitations of summary statistics (outliers, skewness, non-normal returns) at a high level.

Financial Ratios and Valuation Multiples (Topic I.A)

• Calculate and interpret the current ratio and quick ratio as measures of liquidity.
• Interpret debt-to-equity and similar leverage ratios at a high level.
• Explain, at a high level, how financial ratios are used in credit and equity analysis to assess strength and risk.
• Calculate and interpret price-to-earnings (P/E) and identify common drivers of P/E differences across firms/industries at a high level.
• Calculate and interpret price-to-book (P/B) and identify when book value is more or less informative at a high level.
• Recognize common comparability issues when using multiples (one-time items, negative earnings, accounting differences) at a high level.

Topic II - Investment Vehicle Characteristics (17%)

Cash and Cash Equivalents (Topic II.1)

• Differentiate demand deposits and certificates of deposit (CDs) at a high level (liquidity, interest, insured deposit concept).
• Identify common money market instruments (commercial paper, Treasury bills) and describe their typical risk characteristics at a high level.
• Compare insured deposits and money market instruments for safety, liquidity, and yield at a high level.
• Recognize interest rate risk and reinvestment risk considerations for short-term instruments at a high level.

Fixed Income Securities: Valuation Factors and Risks (Topic II.2)

• Explain, at a high level, how maturity, coupon, and yield interact with bond pricing.
• Differentiate yield-to-maturity (YTM) and yield-to-call (YTC) and identify when each measure is most relevant.
• Interpret duration as a measure of interest rate sensitivity and compare fixed income securities by duration at a high level.
• Explain credit risk concepts including bond ratings and credit spreads at a high level.
• Recognize call features and conversion features and explain, at a high level, how embedded options can affect valuation.
• Recognize tax implications and market liquidity considerations for fixed income securities and apply discounted cash flow intuition at a high level.

Equity Securities: Types, Valuation, and Offerings (Topic II.3-6)

• Differentiate common stock, preferred stock (including floating-rate preferred), and convertible preferred stock at a high level.
• Explain American Depositary Receipts (ADRs) and identify key considerations for foreign equity exposure (currency, political, disclosure) at a high level.
• Describe shareholder rights at a high level (voting rights, preemptive/anti-dilution concepts, liquidation preferences).
• Recognize restricted stock and resale restriction concepts at a high level.
• Explain dividends at a high level (declaration and payment concepts, impact on price, common dividend types).
• Differentiate incentive stock options and nonqualified stock options at a high level and recognize how they can affect compensation and incentives.
• Compare equity valuation approaches at a high level (fundamental vs technical analysis, dividend discount concepts, discounted cash flow concepts).
• Differentiate primary vs secondary offerings and describe IPOs and SPAC/blank-check structures at a high level.

Pooled Investments: Types and Structures (Topic II.7)

• Distinguish open-end mutual funds and closed-end funds at a high level (creation/redemption, trading, pricing).
• Distinguish ETFs from mutual funds at a high level and explain how ETF shares can be created/redeemed through authorized participants.
• Explain unit investment trusts (UITs) at a high level and compare them with actively managed pooled products.
• Describe private funds at a high level (hedge funds, private equity, venture capital) and identify common features and risks (limited liquidity, leverage, fees).
• Explain REITs at a high level, including exchange-listed vs non-traded REIT characteristics and liquidity differences.
• Compare pooled vehicles by typical objective, transparency, and liquidity at a high level.

Pooled Investments: Fees, Pricing, Liquidity, and Comparisons (Topic II.8)

• Explain mutual fund and pooled investment share classes at a high level and how distribution/fee structures can differ.
• Identify and compare common pooled investment fees and costs at a high level (loads, CDSCs, 12b-1 fees, management fees, trading costs).
• Explain breakpoints at a high level and why they matter for front-end sales charges.
• Interpret net asset value (NAV) and explain, at a high level, when a product can trade at a premium or discount to NAV (e.g., closed-end funds, ETFs).
• Compare liquidity and tax implications across pooled investments at a high level.
• Evaluate pooled investments using relative comparison factors at a high level (benchmarks, manager tenure, style, policy changes, risk profile).

Derivatives: Futures and Options Basics (Topic II.9)

• Define futures contracts and identify basic uses (hedging, speculation) and key risks (leverage) at a high level.
• Define call and put options and explain intrinsic value and time value at a high level.
• Explain, at a high level, how derivatives can change portfolio risk/return and why suitability and costs matter.

Alternative Investments and Structured Products (Topic II.10)

• Explain leveraged and inverse funds at a high level and why returns can diverge from simple multiples over time due to compounding.
• Describe structured products at a high level and identify common risks (issuer credit risk, complexity, limited liquidity).
• Describe exchange-traded notes (ETNs) at a high level and differentiate them from ETFs.
• Identify when alternative investments might be used (diversification, hedging) and key suitability considerations at a high level.

Insurance-Based Products and Other Assets (Topic II.11-12)

• Differentiate fixed, variable, and indexed annuities at a high level and identify key features and risks (tax deferral, surrender charges, market risk).
• Differentiate term, whole, universal, and variable life insurance at a high level and identify typical uses and risks.
• Describe commodities/precious metals and digital assets at a high level, including key risks (volatility, custody, regulatory uncertainty) and classification considerations.

Topic III - Client/Customer Investment Recommendations and Strategies (30%)

Client Types and Legal Structures (Topic III.1)

• Differentiate individuals, natural persons, and sole proprietorships at a high level for account opening and authority.
• Differentiate general partnerships and limited partnerships at a high level, including who can bind the entity and common liability considerations.
• Describe limited liability companies (LLCs) at a high level and recognize account authority considerations (member-managed vs manager-managed).
• Differentiate C-corporations and S-corporations at a high level and recognize how entity structure can affect taxation and planning.
• Recognize basic trust and estate concepts relevant to accounts (grantor, trustee, beneficiary, executor) at a high level.
• Identify foundations and charities as clients and recognize governance and restricted-purpose considerations at a high level.

Client Profiling, Goals, and Risk Tolerance (Topic III.2)

• Gather and categorize financial goals and objectives (growth, income, capital preservation, liquidity) at a high level.
• Analyze client cash flow and balance sheet information at a high level to assess liquidity needs and capacity for risk.
• Incorporate existing investments and concentration exposure when building a recommendation at a high level.
• Recognize how tax situation, Social Security, and pension benefits can affect planning and withdrawal needs at a high level.
• Differentiate risk tolerance from risk capacity and time horizon at a high level, and identify common mismatches.
• Identify nonfinancial considerations (values-based/ESG, religious constraints) and how they can restrict the investable universe at a high level.
• Recognize behavioral finance biases (loss aversion, recency, overconfidence) and how they can influence client decisions at a high level.
• Use client data gathering methods (client identification, questionnaires, interviews) to document inputs for recommendations at a high level.

Capital Market Theory and Efficient Markets (Topic III.3)

• Explain diversification and the concept of systematic vs unsystematic risk at a high level.
• Describe Modern Portfolio Theory (MPT) and the efficient frontier concept at a high level.
• Describe the Capital Asset Pricing Model (CAPM) and how beta relates to expected return at a high level.
• Explain the Efficient Market Hypothesis (EMH) and implications for active vs passive management at a high level.
• Recognize key assumptions and limitations of these models (stable correlations, distributions, inputs) at a high level.

Asset Allocation Strategies and Investment Styles (Topic III.4)

• Distinguish strategic asset allocation and tactical asset allocation at a high level and identify when each might be used.
• Map client objectives and constraints to a high-level asset allocation across equities, fixed income, cash, and alternatives.
• Differentiate active and passive management at a high level and evaluate tradeoffs (fees, tracking error, tax efficiency).
• Differentiate growth and value styles at a high level and identify typical characteristics and environments.
• Differentiate income and capital appreciation approaches at a high level and identify common vehicles for each.
• Recognize style drift and explain why monitoring holdings relative to mandate/benchmark matters at a high level.

Portfolio Techniques and Risk Management (Topic III.4 and III.10)

• Apply diversification principles at a high level across asset classes, sectors, issuers, and strategies.
• Describe sector rotation strategies at a high level and identify key risks (timing risk, concentration).
• Explain dollar-cost averaging at a high level and identify when it can or cannot reduce risk.
• Explain how purchasing or selling options (puts/calls) can be used at a high level for hedging or income generation.
• Explain leverage and margin at a high level, including amplification of gains/losses and liquidation risk.
• Describe volatility management approaches at a high level (rebalancing, risk budgeting) and explain how inverse strategies can behave over time.
• Recognize high-frequency trading at a high level as a technique and identify key considerations (liquidity, market impact, short holding periods).

Tax Considerations for Recommendations (Topic III.5)

• Differentiate ordinary income and capital gains at a high level and recognize how holding period affects taxation.
• Explain qualified dividends vs non-qualified dividends at a high level and their impact on after-tax return.
• Define cost basis and explain how basis affects realized gain/loss and tax reporting at a high level.
• Explain marginal tax brackets at a high level and why after-tax planning focuses on incremental effects.
• Describe the alternative minimum tax (AMT) concept at a high level and why certain items can trigger it.
• Describe retirement plan distributions and taxation basics at a high level (pre-tax vs Roth, early distribution considerations).
• Explain government benefit implications such as IRMAA at a high level and why income management can matter.
• Differentiate taxation concepts for C corporations, S corporations, trusts, and pass-through entities (REITs, MLPs, LLCs) at a high level.
• Describe estate and gift tax concepts at a high level (exemptions, annual vs lifetime concepts, portability) and planning implications.

Retirement Plans and ERISA Considerations (Topic III.6-7)

• Compare traditional and Roth IRAs at a high level (tax timing) and recognize why eligibility and withdrawal rules matter.
• Describe Solo 401(k) plans at a high level and how they differ from standard employer plans.
• Differentiate defined contribution and defined benefit plans at a high level and identify common examples (401(k), 403(b)).
• Describe common employer plan features at a high level (matching, vesting, loans, rollovers, required distributions concepts).
• Describe SIMPLE IRA and SEP plans at a high level and typical use cases for small employers.
• Differentiate qualified and nonqualified plans at a high level and identify key risks (credit risk, limited protections).
• Explain ERISA fiduciary duties at a high level and what it means to act prudently for plan participants.
• Recognize ERISA prohibited transactions and conflict risks at a high level, including the role of an investment policy statement and default investment concepts.

Special Types of Accounts (Topic III.8)

• Differentiate 529 plans and Coverdell accounts at a high level (ownership, qualified expenses, tax treatment, limitations).
• Explain UTMA/UGMA custodial accounts at a high level, including irrevocable gift concepts and age-of-majority implications.
• Explain health savings accounts (HSAs) and flexible spending accounts (FSAs) at a high level, including qualified expenses and tax advantages.
• Identify documentation and control/beneficiary issues unique to special accounts at a high level.

Ownership Transfer and Estate Planning Techniques (Topic III.9)

• Differentiate JTWROS, tenants in common (TIC), and tenancy by the entirety (TBE) at a high level, including survivorship and probate implications.
• Explain community property with right of survivorship at a high level and compare it with other joint ownership forms.
• Explain transfer-on-death (TOD) and pay-on-death (POD) registrations at a high level and how they transfer assets outside probate.
• Explain beneficiary designations, including per stirpes concepts, at a high level and identify common pitfalls (outdated beneficiaries).
• Describe basic trust and will functions at a high level and how they interact with account titling and beneficiary designations.
• Describe qualified domestic relations orders (QDROs) and donor-advised funds at a high level and identify when each is relevant.

Trading Securities, Costs, and Best Execution (Topic III.10)

• Define key trading terms (bid/ask, quotes, market/limit/stop orders) and identify trade-offs at a high level.
• Explain short sales and margin vs cash accounts at a high level, including key risks and suitability considerations.
• Differentiate principal and agency trades at a high level and recognize how compensation can be earned in each.
• Describe payment for order flow at a high level and explain how it can create conflicts relevant to best execution.
• Identify roles of introducing broker-dealers, clearing broker-dealers/custodians, market makers, and exchanges at a high level.
• Compare trading costs (commissions, markups/markdowns, spreads) and explain best execution at a high level.

Portfolio Performance Measurement and Benchmarking (Topic III.11)

• Calculate and interpret holding period return and annualized return at a high level.
• Differentiate time-weighted and dollar-weighted (money-weighted) returns and identify when each is appropriate.
• Interpret risk-adjusted returns and compare portfolios using metrics such as Sharpe, alpha, or beta at a high level.
• Explain inflation-adjusted and after-tax returns at a high level and why they matter for real-world outcomes.
• Calculate and interpret current yield at a high level for income-oriented securities.
• Select and evaluate relevant benchmarks at a high level and recognize benchmark pitfalls (mismatch, cherry-picking, survivorship bias).

Topic IV - Laws, Regulations, and Guidelines Including Prohibition on Unethical Business Practice (45%)

Investment Adviser Regulation: Definitions and Scope (Topic IV.1)

• Define an investment adviser at a high level and distinguish advice about securities from general education.
• Identify the core elements of adviser status at a high level (in the business, compensation) and recognize direct vs indirect compensation.
• Differentiate an investment adviser entity from an investment adviser representative (IAR) at a high level and recognize firm vs individual obligations.
• Explain the concept of a federal covered adviser at a high level and why some advisers are regulated primarily at the federal level.
• Describe the concept of an exempt reporting adviser at a high level and why some advisers have limited reporting obligations.
• Identify common exclusions or exemptions from investment adviser registration at a high level (e.g., certain professionals, publishers) without relying on numeric thresholds.
• Describe notice filing requirements at a high level for federal covered advisers doing business in a state.
• Recognize multi-state compliance considerations at a high level and why advisers must evaluate each state where they have a place of business or clients.
• Identify the role of Form ADV at a high level in adviser registration and client disclosure.

IA Registration and Ongoing Compliance (Topic IV.1)

• Describe the investment adviser registration process at a high level (application, renewals) and identify events that typically trigger updates.
• Identify key components of Form ADV at a high level (organizational information vs narrative disclosures) and explain why accuracy matters.
• Explain brochure delivery obligations at a high level and what clients should receive and when.
• Identify core books and records expectations for advisers at a high level (client agreements, trading records, communications, disclosures).
• Describe financial reporting and financial responsibility concepts at a high level, including how custody or fee structures can affect requirements.
• Explain the purpose of written policies and procedures at a high level (compliance program) and how supervision and review fit into that program.
• Recognize advertising and solicitation oversight as a compliance area for advisers at a high level.
• Explain adviser supervision obligations over supervised persons at a high level.
• Identify record retention and inspection concepts at a high level, including regulator examination authority.

Investment Adviser Representative (IAR) Regulation (Topic IV.2)

• Define an IAR at a high level and identify activities that typically trigger IAR status (soliciting, advising, managing accounts).
• Determine, at a high level, when an IAR must register in a state (place of business and client interactions) without relying on numeric thresholds.
• Differentiate how IAR registration works for state-registered advisers versus federal covered advisers at a high level.
• Identify core information captured on Form U4 at a high level and explain why complete disclosures matter.
• Recognize ongoing maintenance obligations at a high level, including updating forms for reportable events and material changes.
• Explain continuing education and qualification/exam requirement concepts at a high level (where applicable by jurisdiction).
• Describe supervision expectations for IARs at a high level under firm compliance programs.
• Recognize that clerical or administrative employees are generally excluded from IAR status at a high level and why role definitions matter.

Broker-Dealer and Agent Regulation (Topic IV.3-4)

• Define a broker-dealer at a high level and differentiate broker-dealer activity from investment advisory activity.
• Identify common broker-dealer registration triggers and exclusions at a high level without relying on numeric thresholds.
• Define an agent of a broker-dealer at a high level and identify typical agent activities.
• Explain the roles of associated persons, market makers, and exchanges at a high level in the trading ecosystem.
• Describe what an underwriter does at a high level in a securities offering.
• Identify core broker-dealer books and records expectations at a high level (customer account records, trade confirmations, communications).
• Explain agent supervision obligations at a high level and why broker-dealers monitor recommendations and communications.
• Recognize Form BD and Form U4 concepts at a high level and ongoing update obligations for registrants.

Securities and Issuers: Definitions and Classifications (Topic IV.5)

• Define security broadly at a high level and identify common security types versus common non-securities.
• Differentiate issuer and non-issuer transactions at a high level and explain why the distinction can affect registration and exemptions.
• Define offer and sale concepts at a high level and recognize that solicitations and attempts to dispose can be offers.
• Explain the concept of a federal covered security at a high level and how it affects state registration authority.
• Apply the Howey test conceptually at a high level to evaluate whether an arrangement could be an investment contract.
• Define issuer and person at a high level and recognize how affiliates or control persons can be implicated.
• Define an accredited investor at a high level and explain why accredited status matters for certain private offerings.
• Explain the concept of an investment company at a high level and differentiate registered investment companies from private funds.
• Recognize that some digital assets can be securities depending on facts and circumstances and identify key risk factors at a high level.

Securities Registration, Exemptions, and Antifraud (Topic IV.5)

• Describe the purpose of securities registration at a high level (disclosure to investors) and distinguish registration from approval or endorsement.
• Differentiate federal registration, state registration, and notice filing concepts at a high level.
• Identify common exemptions and exclusions from securities registration at a high level (e.g., certain government/municipal issues, intrastate concepts, private placement concepts) without relying on numeric thresholds.
• Explain Regulation D private offering concepts at a high level and the role of accredited investors and offering conditions.
• Recognize post-registration obligations at a high level (amendments, ongoing reporting) where applicable.
• Explain state antifraud authority at a high level and recognize that fraud is prohibited regardless of registration status.
• Recognize red flags of potentially fraudulent offerings at a high level (guaranteed returns, pressure tactics, unregistered sellers, inconsistent disclosures).
• Differentiate who must be registered (firms/individuals) from what must be registered (securities) at a high level.

Administrator Authority and Enforcement (Topic IV.6)

• Identify the role and powers of the state securities administrator at a high level (rulemaking, investigations, enforcement actions).
• Describe investigation tools at a high level (subpoenas, records requests, testimony) and the duty to cooperate.
• Explain cease-and-desist, stop order, and suspension concepts at a high level and when they may be used.
• Describe denial, suspension, and revocation of registrations at a high level and common grounds (fraud, misstatements, failure to supervise).
• Explain administrative hearing and due process concepts at a high level.
• Recognize the ability of administrators to seek court action or coordinate with law enforcement at a high level.
• Describe regulator examination and inspection expectations at a high level, including the importance of complete records.
• Recognize complaint intake and enforcement triage at a high level (investor harm, patterns of misconduct).

Remedies, Liabilities, and Penalties (Topic IV.6)

• Differentiate administrative remedies from civil and criminal remedies at a high level.
• Explain rescission and restitution concepts at a high level and when investors may be entitled to recovery.
• Identify civil liability concepts at a high level for sellers, advisers, and control persons.
• Recognize that criminal penalties can apply for willful violations and fraud at a high level.
• Explain statute of limitations concepts at a high level (without relying on specific time periods) and why timing matters.
• Describe surety bond and financial responsibility concepts at a high level where applicable.
• Recognize the role of arbitration, mediation, and court actions in resolving customer disputes at a high level.

Disclosures and Unlawful Representations (Topic IV.7)

• Identify common required disclosures to clients at a high level (fees, services, conflicts, disciplinary history, scope of advice).
• Explain why disclosures must be clear and not misleading, and recognize that omissions can be fraudulent at a high level.
• Recognize unlawful representations about registration status or regulator approval at a high level.
• Explain why performance guarantees are generally prohibited and identify misleading guarantee language at a high level.
• Describe key relationship disclosures at a high level (capacity, services, compensation, monitoring obligations).
• Identify product-specific disclosure expectations at a high level (risks, liquidity, costs, conflicts) and when they should be delivered.
• Recognize dual-registrant role changes and associated disclosure needs at a high level.
• Evaluate whether a statement could be misleading based on context, audience, and substantiation at a high level.

Advertising, Social Media, and Performance Presentations (Topic IV.7)

• Differentiate correspondence and advertising at a high level and recognize that websites and digital messaging can be advertising.
• Apply general advertising principles at a high level: fair and balanced, not misleading, and substantiated claims with appropriate disclosures.
• Recognize special risks of social media (testimonials, endorsements, influencer marketing) and the need for firm supervision at a high level.
• Identify performance presentation pitfalls at a high level (cherry-picking, time period selection, benchmark mismatch, omission of fees).
• Explain why hypothetical or back-tested performance can mislead and identify the types of disclosures and controls generally expected at a high level.
• Describe recordkeeping expectations at a high level for advertising and communications.
• Recognize solicitation and referral arrangements at a high level and identify disclosure and oversight expectations.

Advisory Contracts and Client Agreements (Topic IV.7)

• Identify core elements of an investment advisory contract at a high level (services, fees, termination, authority).
• Explain the concept of fiduciary duty at a high level and how it shapes advisory contract terms and disclosures.
• Recognize contract provisions that are prohibited or problematic at a high level (waivers of rights, misleading hedge clauses).
• Describe assignment and client consent concepts at a high level when an advisory contract is transferred.
• Explain performance-based fee arrangements at a high level and identify when they are restricted or require special conditions.
• Describe how custody and discretionary authority provisions should be documented at a high level and why clarity matters.
• Identify key elements of brokerage customer agreements at a high level (margin, options, authority, account statements).
• Recognize documentation and suitability acknowledgements at a high level and how they support supervision and dispute resolution.

Standards of Care, Compensation, and Conflicts (Topic IV.8)

• Differentiate adviser fiduciary standard concepts from broker-dealer best interest/suitability concepts at a high level.
• Explain how standard of care applies at a high level to recommendations, monitoring, and investment selection.
• Identify common compensation arrangements at a high level (asset-based fees, commissions, markups) and explain how they can create incentives.
• Explain performance-based fee concepts at a high level and why they can create conflicts and restrictions.
• Explain soft dollar arrangements at a high level and why disclosure, best execution, and policy controls matter.
• Describe pay-to-play and political contribution risks at a high level and identify why certain contributions can be restricted.
• Identify common dishonest or unethical practices and conflicts at a high level (loans with clients, profit/loss sharing, insider trading, selling away, market manipulation, excessive trading, exploitation of vulnerable adults).
• Recognize personal securities transaction controls at a high level (policies, preclearance, reporting) and how disclosure and supervision mitigate conflicts.

Client Assets, AML, Privacy, and Business Continuity (Topic IV.8)

• Define custody at a high level and identify situations that can create custody for an adviser (fee deduction authority, possession of client funds).
• Describe custody obligations at a high level (qualified custodian concept, account statements, independent verification concepts) without relying on numeric thresholds.
• Explain discretionary authority and trading authorization concepts at a high level and identify required documentation and limitations.
• Identify standards for safeguarding client funds and securities at a high level, including controls over disbursements and authorizations.
• Describe anti-money laundering (AML) program basics at a high level (CIP/KYC, monitoring, SAR concepts) and identify common red flags.
• Explain client confidentiality and privacy obligations at a high level, including when sharing information can be permitted or prohibited.
• Identify common cybersecurity risks at a high level (phishing, account takeover, data loss) and expectations for protecting client data.
• Describe business continuity and succession planning concepts at a high level and why disaster recovery and key-person risk matter.

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