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The Series 6 exam has 55 questions and runs 1 hour 30 minutes.
These 10 free Series 6 questions are organized by exam domain, so you can see how each part of the FINRA Series 6 blueprint is tested. Reveal the answer and explanation under each question.
A representative holds a Series 6 registration and the required state insurance license. Which of the following may the representative sell to a customer?
Correct answer: B - A closed-end fund purchased on its initial public offering
A registered representative emails identical market commentary to 30 retail investors over a 30-calendar-day period. Under FINRA Rule 2210, this communication is:
Correct answer: C - a retail communication, requiring principal approval prior to first use
All of the following are component obligations of Regulation Best Interest EXCEPT the:
Correct answer: A - Suitability Obligation
A customer tells a registered representative: "Buy 500 shares of the growth fund for my account whenever you think the price is right." Under FINRA rules, this order:
Correct answer: B - may be accepted without written discretionary authority
A customer's order to purchase shares of an open-end investment company reaches the fund at 4:45 p.m. ET, after the New York Stock Exchange has closed. The order will be executed at:
Correct answer: B - the next net asset value calculated by the fund
A mutual fund has a net asset value of $9.15 per share and imposes the maximum sales charge permitted under FINRA rules. The public offering price is:
Correct answer: C - $10.00
A 40-year-old customer intends to invest $150,000 in a single fund family and hold the position until retirement. Which share class is generally MOST appropriate?
Correct answer: A - Class A, because the purchase qualifies for a breakpoint and ongoing fees are lowest
A variable annuity in the payout phase has an assumed interest rate (AIR) of 5%. The separate account earned 4% during the most recent period. The next annuity payment will:
Correct answer: D - decrease, because the actual return was lower than the AIR
A customer exchanges shares of one fund for shares of another fund in the same family, at net asset value and with no new sales charge. For federal tax purposes, the exchange is:
Correct answer: C - a taxable event, with gain or loss recognized on the shares given up
An open-end investment company sells a large block of newly issued shares to investors. The immediate effect on the fund's net asset value per share is that it will:
Correct answer: C - remain unchanged, because assets and shares outstanding rise proportionally
The Series 6 exam also covers these domains. Drill them in the full free practice test:
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