Examinee Qualification: Investment Company/Variable Contracts Products Limited Representative
Time Allowed for Exam: 2.25 hours (135 minutes)
Number of Questions: 105, 100 of which count toward the final score
Exam Format: Multiple choice
Score Required to Pass: 70%
Exam preparation time: Approximately 30-45 hrs (about 1-2 hrs a day for about 4 weeks)
Existing License Required: No
Testing Locations: Prometric Testing Centers and Pearson Vue Professional Testing Centers throughout the U.S., Canada, Mexico, and U.S. Territories
- Securities Markets, Investment Securities and Economic Factors (8 questions)
- Securities and Tax Regulation (23 questions)
- Marketing, Prospecting, and Sales Presentation (18 questions)
- Evaluating Customers (13 questions)
- Product Information about Investment Company Securities and Variable Contracts (26 questions)
- Opening and Servicing Customer Accounts (12 questions)
Series 6 Exam Overview
Individuals who pass the Series 6 exam can solicit, buy, and sell:
- Redeemable securities of companies registered under the Investment Company Act of 1940 (mutual funds and unit investment trusts)
- Securities of closed-end companies registered under the Investment Company Act of 1940 only when these securities are initially issued (shares of closed-end companies are not redeemable)
- Variable contracts (annuities) and insurance premium funding programs and other contracts issued by an insurance company
The Investment Company Act of 1940 regulates companies whose primary business is investing, reinvesting, and trading in securities, and who offer their own securities publicly to investors. Under the requirements of this Act, when a company issues a stock, it is required on a regular basis to tell investors about its financial condition and investment policies.
The exam has 105 questions, but five of them are pretest “in-trial” questions that don’t count toward the final score. Test-takers receive their score immediately after the exam, and must have 70 percent of the 100 questions correct to pass.
Complete Content Outline: Series 6 Investment Company/Variable Contracts Products Limited Representative Qualification Exam
Applying for the Series 6 Exam
Taking the Series 6 exam requires exam candidates to be sponsored by a FINRA member firm. The sponsoring firm would file a Uniform Application for Securities Industry Registration or Transfer (Form U4) and pay the required exam fee through the Central Registration Depository (CRD) on the candidate’s behalf.