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FINRA Series 6 Practice Test
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The Series 6 exam (Investment Company and Variable Contracts Products Representative Qualification Examination (IR)) tests your competency as an entry-level representative in an investment company and a representative of variable contract products. The FINRA exam tests your knowledge of critical functions of an investment company and variable contract products such as mutual funds sales and variable annuities in these topics: Seeks Business for the Broker-dealer from Customers and Potential Customers; Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and... Show more
FINRA Series 6 Practice Test
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15 Questions

1. Jason is a Series 6 registered representative and is opening a new account. Jason MUST gather all of the following information at the time of account opening EXCEPT:
2. Which of the following is true regarding nonsystematic risk?
3. All of the following are exempt from registration under the Securities Act of 1933 EXCEPT:
4. John calls his broker to sell his ABC mutual fund shares on Wednesday at 3 PM. The NAV after the market close on Wednesday for ABC mutual fund was $27.85. The sold price on his confirmation showed $23.67. Upon FINRA review, this trade may be designated as a(n):
5. Regarding variable annuities, which of the following is true?
6. All of the following retirees may contribute to a 457 plan EXCEPT:
7. John calls his broker to sell his ABC mutual fund shares on Wednesday at 3 PM. The NAV after the market close on Wednesday for ABC mutual fund was $27.85. The sold price on his confirmation showed $23.67. Upon FINRA review, this trade may be designated as a(n):
8. Which of the following best describes a 12b-1 fee for an open-end mutual fund?
9. Jason is a Series 6 registered representative and is opening a new account. Jason MUST gather all of the following information at the time of account opening EXCEPT:
10. Gregory is 63 1/2 years old and wishes to retire at 66. He has been a long-term client and has 95% of his portfolio in equity mutual funds, with a concentration in technology and growth. His portfolio has performed well over the last decade. His concern is that the bull market is maturing. Gregory does not want downside equity volatility to change his retirement plans and will need liquidity in a few years. Which of the following is the best suggestion for him?
11. All of the following are exempt from registration under the Securities Act of 1933 EXCEPT:
12. Regarding variable annuities, which of the following is true?
13. Which of the following is true regarding nonsystematic risk?
14. ACME Invest, Inc. registered with FINRA seven months ago. The company has created a billboard advertisement near the financial district in their city. When must the company file with FINRA advertising regulation?
15. Which of the following is not exempt from registration under the Securities Act of 1940?

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