The Series 6 Exam is officially titled the Investment Company Products/Variable Contracts Limited Representative Qualifications Examination. Passing this exam provides you with the qualifications to transact mutual funds, variable annuities, and variable life insurance. It is administered by FINRA, and the questions focus on mutual funds, variable contracts, customer evaluation, securities regulation, and tax rules. Try our free Series 6 practice exam to see if you are ready.
Series 6 Exam Questions
Money market funds.
It will prevent losses in a declining market.
More money is invested when prices are low.
It is a more profitable way to buy stock.
More shares are purchased when prices are low.
II, III, IV.
Fees and commissions.
Options and futures trading.
I, II, IV.
I, III, IV.
Early withdrawals are normally subject to a 10% tax penalty.
Reaching age 59 1/2 is the only requirement to begin qualified distributions.
There are no minimum required distributions.
Contributions are not tax-deductible.
No restrictions on contributions, up to the maximum lifetime contribution.
Provides insurance coverage up to $1,000,000 of the customer's net equity balance.
Was created by the Securities and Exchange Act of 1934.
Provides insurance coverage up to $250,000 of the customer's cash balance.
Exists to protect investors from market losses.
About the Series 6 Exam:
The Series 6 test has 100 multiple choice questions and must be completed in 135 minutes. A score of 70% is required to pass. In order to take the exam you must be sponsored by a firm that is a member of FINRA. The exam is challenging, so make sure you do plenty of Series 6 exam prep and be sure to work through plenty of practice questions, along with our Series 6 sample questions.