Series 6 - Investment Company and Variable Contracts Products Representative Exam (IR)

Exam Restructuring

The Series 6 exam—the Investment Company and Variable Contracts Products Representative Qualification Examination (IR)—assesses the competency of an entry-level representative to perform his or her job as an investment company and variable contracts products representative.

The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of an investment company and variable contract products representative, including sales of mutual funds and variable annuities.

The exam consists of 100 scored questions and an additional five unscored pretest questions. Candidates are given two hours and 15 minutes to complete the exam. The passing score is 70 percent.

Please see NASD Rule 1032(b) Investment Company and Variable Contracts Products Representative for more information.

Content Outline


The Series 6 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. It includes sample questions to acquaint a candidate with the types of multiple-choice questions on the exam.

The outline is comprised of the four main job functions of a Series 6 representative:

  • Function 1 — Regulatory fundamentals and business development
  • Function 2 — Evaluate customers’ financial information, identify investment objectives, provide information on investment products, and make suitable recommendations
  • Function 3 — Open, maintain, transfer and close accounts, and retain appropriate account records
  • Function 4 — Obtain, verify and confirm customer purchase and sale instructions

Download: Series 6 Content Outline

Eligibility


The Series 6 does not have a prerequisite exam.

Please see Register a New Candidate for more information on the registration process.

Permitted Activities


A candidate who passes the Series 6 exam is qualified for the solicitation, purchase and/or sale of the following securities products:

  • Mutual funds (closed-end funds on the initial offering only)
  • Variable annuities
  • Variable life insurance
  • Unit investment trusts (UITs)
  • Municipal fund securities (e.g., 529 College Savings Plans, local government investment pools (LGIPs))

Taking the Exam


The table below lists the allocation of exam questions for each main job function of an investment company and variable contracts products representative.

Job Functions Number of Questions
Function 1 – Regulatory fundamentals and business development 22
Function 2  – Evaluate customers’ financial information, identify investment objectives, provide information on investment products, and make suitable recommendations 47
Function 3 – Open, maintain, close, and transfer accounts and retain appropriate account records 21
Function 4 – Obtain, verify, and confirm customer purchase and sale instructions 10

See On the Day of Your Exam for more information.

Using Reference Materials


The test administrator will provide whiteboard/dry erase marker and basic electronic calculators to the candidates, which must be returned to the test center administrator at the end of the testing session. Some test questions involve calculations. Only the provided calculators may be used during the examination.

The examination may contain questions that require the use of exhibits (e.g., charts, graphs, tables). If so, the questions will indicate when to refer to an exhibit.

Candidates are not permitted to bring any reference materials to testing sessions. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA administered examinations.

To learn more about logistics and protocols for your exam day, please see On The Day of Your Exam.