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Series 6 Exam Information
About the Series 6 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. Once both exams are completed and your registration is approved, you’ll be officially licensed as an Investment Company and Variable Contracts Products Representative (Series 6 representative).
Who is the Series 6 Exam for?
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.
Do I need to be sponsored to take the Series 6 Exam?
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.
What is covered on the Series 6 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. The topics and percentage of exam items from each is as follows:
- Finding New Business (24% of exam)
- Opening Customer Accounts (16%)
- Helping Customers and Keeping Records (50%)
- Processing Customer Transactions (10%)
You will have 90 minutes (one hour and 30 minutes) to complete the exam.
Series 6 – Investment Company and Variable Contracts Products Representative Exam Specifications
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Series 6 Exam Enrollment & Eligibility
1. How old do I have to be to take the Series 6?
You must be at least 18 years old and be sponsored by a FINRA-member firm. 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.
2. Do I have to be a U.S. citizen to take the Series 6?
No, U.S. citizenship is not required. However, you must provide the information needed for your Form U4, such as a Social Security number or a comparable identification number from your country.
3. Do I need to provide a Social Security number to enroll?
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).
4. Do I need to be associated with a broker-dealer to take the Series 6?
Yes. You must be sponsored by a FINRA-member firm (broker-dealer) to take the Series 6 exam.
5. What is the exam fee for the Series 6?
The exam fee is $75.
Series 6 Exam Scoring & Results
1. What is the passing score for the Series 6?
You must get a 70% to pass (this is a scaled score from 0-100).
2. What is the retake policy if I fail the exam?
If you fail the 1st or 2nd time, you must wait 30 days. If you fail a 3rd time (or more), you must wait 180 days.
3. How long is my Series 6 registration valid?
Your Series 6 registration stays active as long as you are working for a FINRA firm.
Series 6 Exam Registration
1. What registration category do I get after passing?
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 (Series 6 representative).
2. Will my results appear on BrokerCheck?
Yes. After you pass the Series 6 and your registration is approved, your file will appear on FINRA BrokerCheck. This file includes the exams you passed, your work history, and any reported incidents (disclosures).