Official exam: FINRA Series 6 (Investment Company and Variable Contracts Products Representative)
Take a free Series 6 practice exam online: a full 50-question paper with every answer explained, no sign-up, scored by topic. The full 300-question bank and the timed simulator are $14.99 for 30 days.
FINRA Series 6 (Investment Company and Variable Contracts Products Representative): a 300-question bank of original practice questions written to the published exam content outline, 6 full papers of 50 questions each with no repeats. These are not questions from the real exam.
Series 6 exam facts
Exam fee
$100
Questions
50 multiple-choice questions
Time allowed
1 hour 30 minutes
Passing score
70
Who can sit it
Needs a FINRA member firm sponsor; the SIE is a corequisite
How to schedule
Your sponsoring firm registers you with FINRA, then you book a Prometric test center. You get a 120-day window after enrolling to sit the exam.
. Source: FINRA Series 6 exam page. Fees and rules change, so confirm on the official page before you book. No official pass rate is published for this exam, so we do not print one. All securities exams
Take a full practice test free. 50 original practice questions built to the exam's domain weights, every answer explained, no sign-up required, with a domain-by-domain score at the end.
Want the whole bank for FINRA Series 6 (Investment Company and Variable Contracts Products Representative)? One payment of $14.99 gives you 30 days of full access to this exam. It does not renew. No account needed to buy, and there is a 7-day money-back guarantee.
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Seeks Business for the Broker-Dealer from Customers and Potential Customers24%
Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives16%
Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records50%
Obtains and Verifies Customers' Purchase and Sales Instructions; Processes, Completes and Confirms Transactions10%
5 original practice questions
A closed-end fund has a NAV of $20.00 and trades on the exchange at $18.00. How is the fund priced relative to NAV?
A. At NAV
B. At a 11.1% premium
C. At a 10% premium
D. At a 10% discount
Show answer and reasoning
Correct answer: D. At a 10% discount
The market price is $2.00 below a $20.00 NAV, and $2.00 / $20.00 = 10% discount; closed-end shares trade on supply and demand rather than at NAV.
A: Closed-end funds rarely trade exactly at NAV.
B: 11.1% results from dividing by the market price instead of NAV.
C: A premium exists when the market price exceeds NAV; here the price is below NAV.
Source: FINRA Rule 2111
An annuitant's variable payout is based on a 5% AIR. If the separate account earns 3% in a month, what happens to the following payment?
A. It remains level
B. It doubles
C. It decreases
D. It increases
Show answer and reasoning
Correct answer: C. It decreases
When the actual return (3%) falls below the assumed interest rate (5%), the annuity unit value declines and the next payment is lower, even though the account earned a positive return.
A: Level payments occur only when the return equals the AIR.
B: Payments never double based on a single month's return.
D: An increase requires actual return above the AIR.
Source: FINRA Rule 2330
A 68-year-old customer wants the largest possible monthly payment from her variable annuity and has no dependents. Which payout option provides the highest payment?
A. Life only (straight life)
B. Life with 20-year period certain
C. Unit refund
D. Joint and last survivor
Show answer and reasoning
Correct answer: A. Life only (straight life)
A life only annuity pays only for the annuitant's lifetime with no guarantee to beneficiaries, so it carries the greatest risk to the annuitant and provides the largest monthly payment.
B: A period certain guarantee reduces the payment because the insurer must pay for at least 20 years.
C: A unit refund option guarantees remaining value to a beneficiary, lowering the payment.
D: Joint and last survivor covers two lives and therefore pays the least per month.
Source: FINRA Rule 2330
How long must a broker-dealer retain the identifying information obtained under its customer identification program after an account is closed?
A. One year
B. Five years
C. Three years
D. Ten years
Show answer and reasoning
Correct answer: B. Five years
The CIP rule (31 CFR 1023.220(a)(3)), incorporated by SEA Rule 17a-8, requires identifying information to be retained for five years after the account is closed, and records of verification methods for five years after the record is made.
A: One year is too short.
C: Three years is a securities record period, not the CIP period.
D: Ten years exceeds the requirement.
Source: SEA Rule 17a-8
A registered representative drafts an email about a balanced fund and plans to send it to 40 existing retail clients over the next two weeks. Under FINRA Rule 2210, how is this communication classified?
A. Public appearance
B. Correspondence
C. Institutional communication
D. Retail communication
Show answer and reasoning
Correct answer: D. Retail communication
A written communication distributed to more than 25 retail investors within any 30 calendar day period is a retail communication and generally needs prior principal approval.
A: A public appearance is an unscripted live interaction such as a seminar or radio interview, not a written email.
B: Correspondence is limited to 25 or fewer retail investors within a 30 calendar day period; 40 recipients exceeds that limit.
C: Institutional communications go only to institutional investors such as banks, insurance companies, or entities with $50 million or more in assets, not retail clients.
Where can I take a free Series 6 practice exam online?
Right here. CertQuestUSA's free Series 6 practice exam online is a full 50-question practice paper built to the published content outline's domain weights, with every answer explained, with no sign-up and no credit card, and shows your score by topic at the end. The full 300-question bank, with every answer explained and cited to the exam sponsor's published content outline, is $14.99 for a 30-day pass that never renews.
How many questions are on the CertQuestUSA FINRA Series 6 (Investment Company and Variable Contracts Products Representative) practice test?
300 questions total, split into 6 full papers of 50 each with no repeats across papers.
What topics does the FINRA Series 6 (Investment Company and Variable Contracts Products Representative) test cover?
4 domains, with the heaviest weight on Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records (50%), Seeks Business for the Broker-Dealer from Customers and Potential Customers (24%), and Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives (16%).
Is there a free FINRA Series 6 (Investment Company and Variable Contracts Products Representative) practice test?
Yes -- one full 50-question practice paper built to the exam's domain weights, free with no sign-up, with every answer explained and a domain-by-domain score at the end.
