Investment Company/Variable Contracts Representative
The Series 6 exam qualifies individuals to sell mutual funds, variable annuities, variable life insurance, and other packaged investment products. Often called the "limited representative" license, the Series 6 is ideal for professionals who focus on selling investment company and variable contract products rather than individual securities. The exam tests knowledge of product features, suitability, regulatory requirements, and sales practices. It requires the SIE exam as a prerequisite and is administered by FINRA.
Chapters
Investment Companies
Open-end funds, NAV calculation, forward pricing, diversified vs. non-diversified funds, and share classes
Mutual Fund Features & Pricing
Breakpoints, letters of intent, rights of accumulation, exchanges, reinvestment, distributions, and tax implications
Variable Annuities
Accumulation and annuitization phases, separate accounts, subaccounts, surrender charges, death benefits, and tax deferral
Variable Life Insurance
VLI features, guaranteed minimum death benefit, cash value, policy loans, separate vs. general account
Education Savings Plans
529 plans, qualified expenses, state tax benefits, gift tax treatment, superfunding, Coverdell ESAs, and plan comparisons
Suitability & Recommendations
Customer profiling, Regulation Best Interest, suitability obligations, documentation requirements, and senior investors
Regulatory Requirements
FINRA Rule 2210, SEC Rule 482, mutual fund advertising, performance standards, recordkeeping, and customer complaints