The Series 6 is officially called the Investment Company and Variable Contracts Products Representative Examination. It is a focused license that lets you sell specific investments like mutual funds and variable annuities. Acadio offers a Series 6 prep course that covers every tested topic. Your welcome to try a Free Trial to get a feel what the course is like.
What Am I Licensed to Sell with a Series 6, and What Can I NOT Sell?
The Series 6 lets you sell "packaged" investment products. These are investments managed by a professional company and sold as a bundle. It does not let you sell individual stocks, bonds, or ETFs.
What You CAN Sell
- Mutual funds (open-end investment companies)
- Variable annuities
- Variable life insurance
- Unit investment trusts (UITs)
- Municipal fund securities (like 529 college savings plans)
What You CANNOT Sell with Only a Series 6
- Individual stocks
- Corporate bonds
- Exchange-traded funds (ETFs)
- Options
- Government and municipal bonds
- Direct participation programs and limited partnerships
If you want to sell anything on the "cannot" list, you need a Series 7 license.
What Is the Difference Between the SIE and the Series 6?
The SIE covers many topics at a basic level. The Series 6 covers fewer topics but goes much deeper. The SIE is like a wide, shallow river. The Series 6 is a narrow, deep river.
| SIE Exam | Series 6 Exam | |
|---|---|---|
| Scope | Broad: whole securities industry | Narrow: mutual funds, variable annuities, UITs, 529s |
| Questions | 80 total (75 scored), 1 hr 45 min | 50 scored items, 1 hr 30 min |
| Question style | Definitions and basic concepts | Scenario-based: "Which product suits this customer?" |
| Passing score | 70% | 70% |
| Sponsorship | Not required | Required |
| Fee | $100 | $100 |
You must pass both the SIE and the Series 6 to be fully registered. You can take them in any order. The SIE does not require a sponsor, but the Series 6 does. Acadio's prep courses cover both the SIE and Series 6, so you can study for both exams in one place.
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Written By: Micah Wolf | Learning Group | Managing Editor
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