Series 6 – Investment Company and Variable Contracts Products Representative Exam
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 their 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.
Candidates must pass the Securities Industry Essentials (SIE) exam and the Series 6 exam to obtain the Investment Company and Variable Contracts Products registration. For more information about the SIE and Series 6 exams, refer to FINRA Rule 1210 and FINRA Rule 1220(b)(7).
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. The outline is comprised of the four major job functions of an investment company and variable contracts products representative. The table below lists the allocation of exam items for each major job function.
|Major Job Functions||Number of Exam Items|
|(F1) Seeks Business for the Broker-dealer from Customers and Potential Customers||12|
|(F2 Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives||8|
|(F3) Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records||25|
|(F4) Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions||5|
Candidates must be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization (SRO) member firm to be eligible to take FINRA representative-level qualification exams. For more information on registration requirements refer to FINRA Rule 1210.
The SIE exam is a corequisite to the Series 6 exam. Candidates must pass both the Series 6 exam and the SIE exam to obtain the Investment Company and Variable Contracts Products registration.
For more information on the registration process, see Register a New Candidate.
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) and
- municipal fund securities [e.g., 529 savings plans, local government investment pools (LGIPs)].