Series 6 Exam

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In the United States, the Investment Company Products/Variable Life Contracts Representative Exam, is commonly referred to as the Series 6 Exam. Individuals passing this multiple choice exam are licensed to sell a limited set of securities products:

A Series 6 registered individual is not a stockbroker since Series 6 license holders cannot sell stock, other corporate securities, direct participation programs (DPPs), or option products.

This exam is administered by the Financial Industry Regulatory Authority (FINRA, previously known as the NASD). In order to take the exam, an individual must be sponsored by a member firm of either FINRA or a self-regulatory organization (SRO). The cost of the exam is $95.00. Individuals are allowed two hours and fifteen minutes to complete 100 multiple choice questions. The passing score is 70%, and those who fail this exam must wait thirty days before taking it again.

Test Breakdown # of Questions  % of Exam
Securities Markets, Investment Securities and Economic Factors 8 8%
Securities and Tax Regulations 23 23%
Marketing, Prospecting and Sales Presentations 18 18%
Evaluation of Customers 13 13%
Product Information: Investment Company Securities and Variable Contracts 26 26%
Opening and Servicing Customer Accounts 12 12%

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