Series 6 Exam – What is it?
Series 6 Exam – What is it?
Well, first off, the Series 6 Exam is a securities licensing exam and actually goes by a few different names. Its formal name is the Investment Company and Variable Contracts Products Representative Exam, but it is most commonly referred to as the Series 6 exam or Series 6 top-off exam.
Who created this exam?
The Investment Company and Variable Contracts Products Representative Exam was created and is administered by FINRA, which is the Financial Industry Regulatory Authority. FINRA is a self-regulatory organization that oversees the securities industry. The exam was created to assess the competency of an entry-level representative to perform their job.
Once I pass this test can I sell securities?
Well, that depends. Have you already taken and passed the SIE exam? The SIE exam, which is also known as the Securities Industry Essentials exam is a co-requisite license with the Series 6. This means you can’t do anything with just one of the two licenses. Usually, most people start with the SIE Exam, since no broker/dealer sponsorship is required to sit for it. Once they have passed the SIE exam, then an applicant will either take the Series 6 or Series 7 top-off exams.
What are the vitals for the Series 6 Exam?
This exam is made up of 50 multiple-choice questions. Each question consists of four answer choices. The exam has a 1 hour and 30-minute time limit and has a 70% minimum passing score. The questions on the exam come from four sections of information as follows:
Seeks Business for the Broker-dealer from Customers and Potential Customers – 24% of exam – 12 questions
Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives – 16% of exam – 8 questions
Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and MaintainsApproperiate Records – 50% of exam – 25 questions
Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions – 10% of exam – 5 questions
Learn more about this exam from Suzy
Suzy is our Director of Securities Exam prep. She has over 20 years of experience teaching people just like you how to pass their securities licensing exams on their first attempt. Below Suzy will guide you through an overview of this exam and share with you a great study solution you can use to PASS.
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What is the difference between the S6 and S7 exams?
In general, if someone is going to become a stockbroker, they would take the Series 7 exam and become licensed to sell a broad range of securities products. However, if someone is an insurance agent and looking to become licensed to sell variable insurance products, they would obtain a Series 6 license. Regardless of the route an individual goes, they must also pass the SIE exam in addition to either the Series 6 or 7 top-off exam.
How do I study to pass the exam?
Here at PassMasters, we offer a comprehensive video lecture-based Series 6 test prep course designed to help candidates prepare for the exam.
The course includes full-length sample lecture videos, a practice exam that reflects the structure of the final exam, and feedback from students who have successfully passed the Series 6 exam. These materials are intended to provide a clear understanding of the exam format and the teaching approach used in the course.
Series 6 Questions Explained
Each week, a new Question of the Week video is published, in which exam questions are explained in detail. These videos are intended to provide additional clarification on Series 6 exam topics and help candidates better understand common question types and concepts covered on the exam.
