The Series 6 exam is a qualification exam taken by those in the Financial Services and Insurance industries who want to sell Securities products such as mutual funds and variable annuities. Obtaining your Series 6 license will complement the products and services you can offer to your clients. Keep reading, the information below will answer questions regarding what to expect and how to prepare for the Series 6 exam.
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The Series 6 exam, administered by Financial Industry Regulatory Authority (FINRA), is designed to assess the knowledge and comprehension of the essential job functions of an investment company and variable contracts products representative. There are four areas of focus: business development, opening accounts, recommending products, and processing transactions.
You must answer 70% of the questions correctly to pass the Series 6 exam. The exam consists of 50 questions; answer at least 35 questions correctly in order to pass.
FINRA recently reported the Series 6 first-time pass rate is 59%.
The first-time pass rate indicates the Series 6 is a challenging exam and takes diligent preparation.
The test format is multiple-choice.
You have one hour and 30 minutes to complete the exam.
The Series 6 exam tests candidates’ knowledge in four job functions:
To be eligible to take the Series 6 exam a candidate must be sponsored by a FINRA member firm. Your FINRA member firm must open a Uniform Application for Securities Industry Registration, or Form U4. Once your Form U4 is open, you have a 120-day window to schedule and take the Series 6 exam.
No. You can take both exams at the same time, or separately, in any order.
The price of the exam is $40, which is paid directly to the Prometric testing center.
The Series 6 exam is administered by Prometric, which provides testing locations across the country. Once you are ready to take the exam, go to the Prometric website to view Series 6 test dates and the testing location closest to you.
The best way to prepare for the Series 6 exam is to use an online exam prep program, one that includes comprehensive, up-to-date materials created by a valued industry provider.
ExamFX has something for everyone with the ability to customize package options and study tools you need to ensure success.
Once you pass the Series 6 exam, as well as the co-requisite SIE exam, you will qualify to work as an entry-level representative who can legally sell certain types of financial products and variable contracts.
Yes. Your license remains valid if you are employed by a member firm. If you are not employed by a member firm, your license expires two years after the date of departure.
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