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FINRA Series6 Exam Overview:
| Certification Vendor: | FINRA (Financial Industry Regulatory Authority) |
| Exam Name: | Investment Company and Variable Contracts Products Representative Examination (IR) |
| Exam Number: | Series 6 |
| Exam Duration: | 90 minutes |
| Exam Price: | USD 100 |
| Exam Format: | Multiple choice |
| Real Exam Qty: | 50 |
| Available Languages: | English |
| Passing Score: | 70% |
| Related Certifications: | Securities Industry Essentials (SIE) Exam Series 63 (Uniform Securities Agent State Law Exam) |
| Sample Questions: | FINRA Series6 Sample Questions |
| Exam Way: | Computer-based testing at Prometric centers or via approved remote delivery |
| Pre Condition: | Must be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization member; passing SIE exam required |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series6 |
FINRA Series6 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records | 50% | - Product information, suitability, recordkeeping and transfers |
| Topic 2: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 24% | - Topics in communications, marketing, and solicitation activities |
| Topic 3: Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives | 16% | - Account opening procedures and financial profile evaluation |
| Topic 4: Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions | 10% | - Transaction processing and verification |
FINRA Investment Company and Variable Contracts Products Representative Examination (IR) Sample Questions:
1. The stock of Hasbro Corporation (HAS) is selling for $44.50 and pays a dividend of $1.00 a share. What is
its dividend yield, rounded to the nearest hundredth of a percent?
A) 4.45%
B) 1.00%
C) none of the above
D) 2.25%
2. A FINRA member who is a principal underwriter under the definition provided in the Investment Company
Act of 1940 is permitted to sell variable contracts through another broker-dealer only if:
I. the broker-dealer is also a FINRA member.
II. there is a sales agreement in effect between the underwriter and the broker-dealer.
III. the broker-dealer is also a principal underwriter as defined by the Investment Company Act of 1940.
A) both I and II are true.
B) any one of the three statements-I, II, or III-are true.
C) all three statements-I, II, and III-are true.
D) either I or II is true.
3. Callie has a new client who wants to begin investing in mutual funds with the $5,000 she has pulled out of
her savings account. The client has indicated she wants to set this money aside in a separate account so
that her baby girl, now 2 years old, can have the "wedding of her dreams" when she grows up. Based on
the information the client has provided, Callie believes the client would benefit most by purchasing shares
of a certain fund that offers Class A, Class B, and Class C shares. Given these facts, Callie's client is
probably best off purchasing the shares of which class?
A) None of that above. Based on the facts, Callie's client would be better off buying a Treasury STRIP that
matures in 20 to 30 years.
B) Class C
C) Class A
D) Class B
4. A plan under which employees of state and local governments can contribute part of their salaries such
that those earnings will grow tax-deferred until retirement is called a:
A) money purchase plan.
B) Section 501 plan.
C) profit-sharing plan.
D) Section 457 plan.
5. Ms. Newbie has recently become licensed as a registered representative and is disappointed to discover
no clients standing in line at the door to her office at Savvy Investments. She decides she simply must
take on a second job in order to pay the rent. The fitness club to which she belongs is advertising for a
weekend receptionist, and the club manager has told her the job is hers if she wants it. Given this
scenario, Ms. Newbie:
A) can accept the job without any restrictions. She is not tied to Savvy by ball and chain, and her work as
a receptionist at a fitness club does not have anything to do with the financial industry.
B) must provide a written notice to Savvy Investments and await the firm's approval before accepting the
job.
C) can accept the job since it only entails weekend work, which does not conflict with the hours she works
as a registered representative.
D) can accept the job only if she tells her supervisor at Savvy that she will be working weekends.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |
By Arno
