The series 6 exam is a financial test that is administered by the Financial Industry Regulatory Authority (FINRA), a non-governmental regulatory body of the securities industry of America. The series 6 exam is popularly known as ‘the Investment Company Products/Variable Life Contracts Representative Exam’. The series 6 exam is conducted for qualified financial professionals who wish to register themselves as Registered Representatives of FINRA.
Applicants who qualify the series 6 exam are allowed to become the registered representatives of the Financial Industry Regulatory Authority and are entitled to sell a limited range of financial products such as mutual funds and annuities. In order to sell a wide range of financial products, candidates are required to qualify a much longer version of the exam conducted by the Financial Industry Regulatory Authority known as the series 7 exam.
The series 6 exam takes about 135 minutes to complete and consists of 100 multiple choice questions. Passing score is set at 70 per cent and the test includes six topics in total. These six topics are, Securities Markets, Investment Securities and Economic Factors (8 Questions); Securities and Tax Regulations (23 Questions); Marketing, Prospecting and Sales Presentations (18 Questions); Evaluation of Customers (13 Questions); Product Information: Investment Company Securities and Variable Contracts (26 Questions) and Opening and Servicing Customer Accounts (12 Questions). This is a paper-based exam and require exam taking materials like paper, pencils and calculators are provided to the test-takers at the test centers.
Tips for Test Preparation and Test Taking
The best preparation strategy to crack the series 6 exam includes constant practice with all available study materials and regular reviewing of them. Before appearing for the series 6 exam, sharpen all your skills and then attempt the test with full confidence. At the test centers, as soon as you receive the test booklet, go through the questions at a glance and then flag all hard questions.
Start answering simple questions and then come back to the hard questions. This way,you can utilize the time saved to attempt hard questions. While answering the hard questions, start by eliminating all impossible answers from the list and then try to find the best answer out of the remaining choices.