Series-6 - Study Material - Investment Company and Variable Contracts Products Representative Qualification Examination (IR)

The FINRA Series 6 exam is a Securities and Exchange Commission (SEC) examination for representatives of broker-dealers who wish to sell mutual funds, variable annuities, and insurance products. The exam is designed to assess the competency of entry-level registered representatives to perform their duties in a manner that is consistent with the Securities Exchange Act of 1934 and the rules and regulations of the SEC and FINRA.

The FINRA Series 6 exam is a two-hour, multiple-choice test consisting of 125 questions.

There are 125 questions on the FINRA Series-6 exam.

The passing score for the FINRA Series-6 exam is 70%.

The competency level required to take the FINRA Series 6 exam is that of an entry-level financial professional. Candidates must possess the knowledge, skills and abilities to analyze customer needs, provide suitable product and service recommendations, and perform associated administrative tasks.

The FINRA Series-6 exam consists of 125 multiple-choice questions. The questions are divided into three main categories: (1) Investment Company and Variable Contracts Products, (2) Federal Securities Laws and Regulations, and (3) Investment Strategies.

The FINRA Series 6 exam is offered both online and in testing centers. To take the exam online, you must register with a FINRA-approved testing provider and schedule an appointment. You will then be provided with a secure login and password to access the exam. To take the exam in a testing center, you must register with a FINRA-approved testing provider and schedule an appointment. You will then be provided with a secure login and password to access the exam. On the day of the exam, you will need to bring a valid government-issued photo ID and arrive at the testing center at least 30 minutes prior to the start of the exam.

The FINRA Series 6 Exam is offered in English.

The cost of the FINRA Series-6 exam is $125.

The target audience of the FINRA Series 6 Exam is individuals who wish to become registered representatives of a broker-dealer and who will be selling mutual funds, variable annuities, and other securities products. The exam is designed to assess the competency of entry-level registered representatives to perform their job duties.

The average salary for a person with a FINRA Series 6 certification is typically around $50,000 to $60,000 per year. However, salaries can vary greatly depending on the experience and qualifications of the individual.

The Financial Industry Regulatory Authority (FINRA) is the organization responsible for administering the FINRA Series 6 exam. They provide testing through their network of approved testing centers.

The recommended experience for taking the FINRA Series-6 exam is to have at least two years of experience in the securities industry. This experience should include sales, customer service, and product knowledge. Additionally, it is recommended that the candidate have a thorough understanding of the securities markets, investment products, and the regulations governing the sale of securities.

The prerequisite for the FINRA Series-6 Exam is that you must have a valid Series-7 license. Additionally, you must be sponsored by a FINRA member firm.

The official FINRA website provides information on the Series 6 exam. The link to the page is: https://www.finra.org/industry/series6.

The FINRA Series 6 Exam is a securities licensing exam administered by the Financial Industry Regulatory Authority (FINRA). The exam is required for individuals who wish to become registered representatives and sell mutual funds, variable annuities, and other securities products. The certification roadmap for the FINRA Series 6 Exam includes the following steps: 1. Prepare for the Exam: Become familiar with the topics covered on the exam and the format of the questions. 2. Register for the Exam: Register online or by phone with FINRA. 3. Take the Exam: Take the exam at a FINRA-approved testing center. 4. Receive Results: Results will be sent to you within two weeks of taking the exam. 5. Receive Certification: Upon passing the exam, you will receive a certificate and be eligible to become a registered representative.

The FINRA Series 6 exam covers topics related to investment company and variable contracts products. It is designed to assess the knowledge and understanding of the representative of the investment company and variable contracts products. The topics covered include: 1. Investment Company Products/Variable Contracts Limited Representative: This topic covers the rules and regulations that govern the sale of investment company products and variable contracts. It includes the suitability requirements, and the disclosure requirements related to these products. 2. Taxation of Investment Company Products and Variable Contracts: This topic covers the taxation of investment company products and variable contracts, including the taxation of dividends, capital gains, and other income. 3. Investment Company and Variable Contracts Products: This topic covers the types of investment company products and variable contracts, including mutual funds, closed-end funds, unit investment trusts, variable annuities, and variable life insurance. It also covers the features and risks associated with these products. 4. Retirement Plans:

1. What is the purpose of a mutual fund? 2. Describe the differences between a closed-end fund and an open-end fund. 3. What are the primary responsibilities of a registered representative? 4. How do you determine the value of a security? 5. What are the different types of investment risk? 6. What are the primary sources of investment advice? 7. What are the rules and regulations governing the sale of securities? 8. What is the process for completing a customer account application? 9. Describe the different types of mutual fund fees. 10. What are the requirements for establishing a margin account?

The FINRA Series-6 exam is considered to be of moderate difficulty. The exam consists of 125 multiple-choice questions and the passing score is 70%.