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
An examination (exam or evaluation) or test is an educational assessment intended to measure a test-taker's knowledge, skill, aptitude, physical fitness, or classification in many other topics (e.g., beliefs). A test may be administered verba ...
are licensed to sell a limited set of
securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
products:
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Mutual fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV ...
s
*
Closed-end funds on the initial offering only
*
Unit investment trusts
*
Variable Annuities
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
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associat ...
(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
A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to governmen ...
(SRO). The cost of the exam is $40.00. Individuals are allowed 90 minutes to complete 50 multiple choice questions. The passing score is 70%, and those who fail this exam must wait thirty days before taking it again. In order to be registered with the Series 6, an individual must also pass the Securities Industry Essentials Exam (The SIE Exam).
The table below lists the allocation of exam questions for each main job function of an investment company and variable contracts products representative.
See also
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List of securities examinations
The following is a list of securities examinations and the organizations that offer them.
Africa
*The Securities Industry Training Institute East Africa (SITI) was conceptualized in 2008 to standardize and administer market education for the E ...
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Series 7 exam
In the United States, the Series 7 exam, also known as the General Securities Representative Exam (GSRE), is a test for entry-level registered representatives, to buy or sell security products such as corporate securities, municipal securities, ...
*
Series 24 exam
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Series 63 exam
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Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associat ...
(FINRA)
Sources
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Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associat ...
(http://www.finra.org/industry/series6)
* http://www.series6examtutor.com (via FINRA's series 6 content outline)
United States securities law
Professional certification in finance
Standardized tests in the United States
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