Series 6 License – How to get
Series 6 License – How do you get it?
In this article, we will be covering everything you need to know about how to obtain your Series 6 license. The first thing you need to know is the Series 6 license is a co-requisite license with the Securities Industry Essentials license or SIE license. Meaning you must have your SIE license in order to activate your Series 6 license.
If you don’t yet have your SIE license, the SIE exam is the first step you’ll need to complete before obtaining a Series 6 license. Once you have passed the SIE exam, you can continue learning about the Series 6 license below.
Who created this exam?
In order to obtain your Series 6 license, you must pass the Series 6 exam, which was created and administered by FINRA. FINRA stands for the Financial Industry Regulatory Authority. FINRA is a self-regulatory organization that oversees the securities industry. The Series 6 exam is also known as the Investment Company and Variable Contracts Products Representative Qualification Examination. It was created by FINRA to assess the competency of an entry-level representative to perform their job as an investment company and variable contracts products representative.
Once I pass the exam and obtain my license, what can I sell?
A Series 6 license allows an individual to sell variable life insurance, variable annuities, mutual funds, unit investment trusts (UITs), and municipal fund securities. The Series 6 license is most commonly obtained by those in the insurance industry so they can sell variable insurance products.
Remember though, in order to activate a Series 6 license, an individual must also pass the SIE exam and obtain their SIE license, and potentially add a variable products endorsement to their insurance license, depending on the state.
What is the difference between the Series 6 and Series 7 licenses?
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.
What are the vitals for this exam?
The Series 6 license 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
If you are simply looking for the best Series 6 exam prep available, click the image above. This will take you to a description of our video based Series 6 top-off test prep course with Suzy Rhoades.
Learn more about this exam from Suzy
Suzy Rhoades is our Director of Securities Exam prep and will guide you through an overview of this exam and share with you a great study solution you can use to pass.
Jesse
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I ended up passing the Series 63 with you as well. You guys have an amazing thing going on. I am completely new to the industry, thanks to Scott and Suzy, I have passed my Life & Health, Series 6, & Series 63 on the first try. Most importantly I went into the exam feeling confident. Rest assured I will be referring all my friends and co-workers.
Did you already pass the exam?
Our director of securities content Suzy Rhoades has created the best all-in-one securities exam prep courses available anywhere. Learn from the best and be ready to pass your exam and obtain your license in no time. Get more information about our courses below:
Do I need to be sponsored to obtain my license?
Yes, you do. Unlike the SIE exam which does not require any broker/dealer affiliation or sponsorship, in order to take either the Series 6 or Series 7 top-off exams you must be affiliated and sponsored by a broker/dealer.
How do I schedule the Series 6 exam?
If you are serious about obtaining your Series 6 license and are looking to enroll for the exam, you can do so with FINRA. If you are ready to schedule your exam, you can do so. Looking for some FREE test-taking tips? You can check them out.
Series 6 test prep video course
The Series 6 test prep video course includes sample lecture videos that demonstrate the teaching style used in the course, a practice exam aligned with the structure of the actual exam, and student feedback from individuals who have passed the Series 6 exam.
Series 6 Test Questions Explained
Each week on Wednesday we post a new Question of the Week video on our YouTube page. Check out this QOTW video in which Suzy explains 5 exam questions. Visit our YouTube page, follow and turn notifications ON to view future QOTW videos when posted.
