FINRA Series6 : Investment Company and Variable Contracts Products Representative Examination (IR)

  • Exam Code: Series6
  • Exam Name: Investment Company and Variable Contracts Products Representative Examination (IR)
  • Updated: Jul 22, 2026

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FINRA Series6 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Provides Customers with Information About Investments50%- Investment company securities and variable contracts
  • 1. Mutual funds and ETFs characteristics
    • 2. Risks, disclosures, and performance reporting
      • 3. Variable annuities and insurance-based products
        Topic 2: Opens Accounts After Obtaining and Evaluating Customer Financial Profile16%- Customer account types and documentation
        • 1. Suitability and KYC requirements
          • 2. Account registration and ownership types
            Topic 3: Seeks Business for the Broker-Dealer from Customers and Potential Customers24%- Prospecting and communication with clients
            • 1. Ethical sales practices and communications rules
              • 2. Marketing investment company products
                Topic 4: Obtains and Verifies Customers' Purchase and Sales Instructions10%- Order processing and transaction procedures
                • 1. Settlement and trade verification
                  • 2. Order entry and confirmation

                    FINRA Investment Company and Variable Contracts Products Representative Examination (IR) Sample Questions:

                    1. Which of the following describes a difference between a unit investment trust (UIT) and a mutual fund?

                    A) UITs are not required to distribute dividends and capital gains to their shareholders as mutual funds
                    must.
                    B) All of the above describe differences between a UIT and a mutual fund.
                    C) UITs have a fixed number of shares; mutual funds do not.
                    D) UITs must hold non-diversified portfolios; mutual funds may be either non-diversified or diversified.


                    2. Which of the following securities would be exempt from SEC registration requirements?
                    I. a 15-year bond issued by the state of Colorado
                    II. an issue of preferred stock that has an aggregate par value of $5 million
                    III. an issue of commercial paper that has a 5-month maturity

                    A) I only
                    B) I and III only
                    C) III only
                    D) I and II only


                    3. Which of the following is not one of the purposes of FINRA as stated in its articles of incorporation?

                    A) police members and assist with dispute settlements
                    B) encourage members to uphold high ethical standards
                    C) develop lines of communication between the securities industry and governmental agencies
                    D) maintain a fair and orderly securities market


                    4. After passing the Series 6 and becoming a registered representative, you will be able to execute
                    transactions in which of the following securities?
                    I. corporate stocks
                    II. mutual funds
                    III. corporate bonds
                    IV. variable contracts

                    A) II and III only
                    B) I, II, III, and IV
                    C) I, II, and IV only
                    D) II and IV only


                    5. Under FINRA rules, the variable contract sales agreement must specify that any sales commission is to
                    be returned to the insurance company if the buyer terminates the contract within:

                    A) 10 business days.
                    B) one week.
                    C) 5 business days.
                    D) 7 business days.


                    Solutions:

                    Question # 1
                    Answer: C
                    Question # 2
                    Answer: B
                    Question # 3
                    Answer: D
                    Question # 4
                    Answer: D
                    Question # 5
                    Answer: D

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