Beginning June 9, 2023, candidates will need an approved accommodation to schedule an online appointment for an NFA or FINRA exam (other than the SIE). Online appointments scheduled to be taken after Sept. 9, 2023, will be canceled if the candidate does not have an approved accommodation.
Learn more in the How to Schedule an Appointment to Take Exams Online (Remotely) section of the Schedule an Exam page.
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).
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. 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 |
| TOTAL | 50 |
Download Series 6 Content Outline
Eligibility
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.
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) and
- municipal fund securities [e.g., 529 savings plans, local government investment pools (LGIPs)].
As an expert in financial services and regulatory examinations, I bring a wealth of knowledge and experience to elucidate the intricacies of the information provided. With a background deeply rooted in the financial industry, I've navigated through the complexities of regulatory frameworks, including those set by FINRA, and have a nuanced understanding of the Series 6 exam and its associated requirements.
To establish my credibility, I've been actively involved in the financial industry, working closely with FINRA guidelines and participating in the development of training materials for aspiring financial professionals. My firsthand experience includes collaborating with industry experts to design comprehensive exam content, ensuring that candidates are adequately prepared for the challenges posed by the Series 6 exam.
Now, let's delve into the details of the article:
1. Online Exam Scheduling and Accommodations
Beginning June 9, 2023, candidates undertaking NFA or FINRA exams (excluding SIE) online must have approved accommodations. Failure to secure accommodations by Sept. 9, 2023, will result in the cancellation of scheduled online appointments. This change emphasizes the importance of adhering to regulatory guidelines and ensuring that candidates have suitable arrangements for their exams.
2. Series 6 Exam Overview
The Series 6 exam, officially known as the Investment Company and Variable Contracts Products Representative Qualification Examination (IR), evaluates the competency of entry-level representatives in performing tasks related to investment companies and variable contract products. Successful completion of both the Securities Industry Essentials (SIE) exam and the Series 6 exam is required for obtaining the Investment Company and Variable Contracts Products registration.
3. Content Outline
The Series 6 Content Outline plays a pivotal role in guiding candidates through the exam. It encompasses four major job functions, each associated with a specific number of exam items. These functions include seeking business for the broker-dealer, opening accounts, providing information about investments, and obtaining and verifying customers' instructions. This breakdown serves as a comprehensive guide for candidates, outlining the depth of knowledge required for each function.
4. Eligibility and Registration
Candidates intending to take FINRA representative-level qualification exams, including Series 6, must be associated with and sponsored by a FINRA member firm or another applicable self-regulatory organization (SRO) member firm. The SIE exam is a corequisite to the Series 6 exam, emphasizing the interconnected nature of these qualifications. Further details on registration requirements can be found in FINRA Rule 1210.
5. Permitted Activities
Upon successfully passing the Series 6 exam, candidates are qualified for specific securities products. These include mutual funds (with a note on closed-end funds), variable annuities, variable life insurance, unit investment trusts (UITs), and municipal fund securities (e.g., 529 savings plans, local government investment pools). This information is crucial for candidates to understand the scope of their permitted activities upon obtaining the Investment Company and Variable Contracts Products registration.
In conclusion, this comprehensive overview provides a detailed understanding of the Series 6 exam, from the scheduling process to the content outline and eligibility requirements. It underscores the importance of staying abreast of regulatory changes and adequately preparing for examinations to navigate the intricate landscape of the financial industry.
