Everything you need to know about the Investment Company and Variable Contracts Products Representative Exam.
Questions
Multiple choice format
Minutes
To complete the exam
Passing Score
35 of 50 correct
FINRA Qualification Exam
The Series 6 exam, officially known as the Investment Company and Variable Contracts Products Representative Exam, is a FINRA qualification test required for individuals who sell certain packaged investment products. Passing the Series 6 allows you to sell mutual funds, variable annuities, variable life insurance, and 529 savings plans.
The exam assesses your understanding of the job functions, rules, and regulations involved in these activities, including finding new clients, opening accounts, providing investment information, making recommendations, and processing transactions — all in accordance with FINRA rules and the Investment Company Act of 1940. To be eligible for registration in this role, you must pass the Securities Industry Essentials (SIE) exam and the Series 6 exam, and be sponsored by a FINRA-member firm.
The Series 6 license allows you to sell specific investment products, including mutual funds, variable annuities, variable life insurance, unit investment trusts, and municipal fund securities such as 529 savings plans. It is intended for professionals working for a registered financial firm, such as financial advisors, insurance agents, and bank representatives. To sell variable insurance products (like variable life insurance or annuities), you must also hold a state insurance license. You must be sponsored by a FINRA-member firm to take the exam. Your sponsoring firm will submit a Form U4 on your behalf, which opens your testing window and allows you to schedule the exam.
The exam measures knowledge of the functions of an Investment Company and Variable Contracts Products Representative. It focuses on the regulations for marketing and selling mutual funds, variable annuities, and 529 plans, as well as handling customer accounts and maintaining ethical standards. The exam content is divided into 4 main topics:
You will have 90 minutes (one hour and 30 minutes) to complete the exam. The exam fee is $100. Series 6 – Investment Company and Variable Contracts Products Representative Exam Specifications
Key facts about the Series 6 Exam.
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[title]Exam Format[/title]
[text]50 scored multiple-choice questions plus 5 unscored pretest questions.[/text]
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[title]Time Limit[/title]
[text]1 hour and 30 minutes (90 minutes) to complete the exam.[/text]
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[title]Passing Score[/title]
[text]70% required (at least 35 of 50 scored questions correct).[/text]
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[title]Prerequisites[/title]
[text]Must pass SIE exam and be sponsored by a FINRA member firm.[/text]
The Series 6 Exam content is divided into 4 main topics.
[title]Finding New Business[/title]
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[text]24% of exam - Prospecting and identifying potential customers.[/text]
[title]Opening Accounts[/title]
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[text]16% of exam - Customer information and account setup procedures.[/text]
[title]Servicing Customers[/title]
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[text]50% of exam - Recommendations, record keeping, and customer service.[/text]
[title]Processing Transactions[/title]
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[text]10% of exam - Order handling and transaction processing.[/text]
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You must be at least 18 years old and be sponsored by a FINRA-member firm. U.S. citizenship is not required. While you can have your Form U4 filed before passing the SIE exam, Series 6 registration is not valid until you have passed the SIE.
Yes. You must be sponsored by a FINRA-member firm (or another self-regulatory organization) to take the Series 6 exam. Your sponsoring firm will submit a Form U4 (Uniform Application for Securities Industry Registration or Transfer) on your behalf, which opens your testing window and allows you to schedule the exam.
Yes. Your sponsoring firm will submit your Form U4 using your Social Security number (or equivalent foreign ID) to create your official industry record in the Central Registration Depository (CRD).
The Series 6 exam registration fee is $75. This fee is paid when your sponsoring firm files the Form U4 on your behalf.
If you fail the 1st or 2nd time, you must wait 30 days before retaking the exam. If you fail a 3rd time (or more), you must wait 180 days. At Acadio, we extend your course access for free until you pass.
Your Series 6 registration stays active as long as you are working for a FINRA member firm and remain properly registered. If you leave your firm, your registration typically remains valid for two years before lapsing.
After passing both the Securities Industry Essentials (SIE) Exam and the Series 6 exam, you are registered as an Investment Company and Variable Contracts Products Representative. Your record will appear on FINRA BrokerCheck, including the exams you have passed, your work history, and any reported incidents or disclosures.
Yes. To sell variable insurance products like variable life insurance or variable annuities, you must also hold a state insurance license in addition to your Series 6 registration.
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