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Finra Series-6 Exam Questions
- Topic 1: Consideration of Promotion of Efficiency, Competition, and Capital Formation/ Reinvestment of dividend income and capital gains distributions
- Topic 2: Employment of Manipulative and Deceptive Devices by Brokers or Dealers/ Seminars, lectures and other group forum requirements
- Topic 3: Records To Be Made by Certain Exchange Members, Brokers and Dealers/ Standards and required approvals of public communications
- Topic 4: Exemption for Limited Offers and Sales Without Regard to Dollar Amount of Offering/ Advertising by an Investment Company as Satisfying Requirements of Section 10
- Topic 5: Types of mutual funds: equity, fixed-income, money market, interval/ Essential facts regarding customers and customer relationships
- Topic 6: Civil Liabilities Arising in Connection with Prospectuses and Communications/ Requirements for the Use of Bond Mutual Fund Volatility Ratings
- Topic 7: Circumstances for refusing or restricting activity in an account or closing accounts/ Determination of net long-term and short-term gains or losses
- Topic 8: Insignificant Deviations from a Term, Condition or Requirement of Regulation D/ Materials Not Deemed an Offer To Sell or Offer To Buy Nor a Prospectus
- Topic 9: Reasonable-basis, customer-specific and quantitative care obligations/ Financial factors relevant to assessing a customer’s investment profile
- Topic 10: Customer-specific factors that generally affect the selection of products/ Communications with the Public About Variable Life Insurance and Variable Annuities
Free Finra Series-6 Exam Actual Questions
Note: Premium Questions for Series-6 were last updated On Dec. 08, 2024 (see below)
Upon receiving a complaint about one of its member firms, FINRA may:
i. require any person associated with the member firm to provide information to FINRA and to testify under oath.
ii. inspect and copy the books, records and accounts of the member firm.
iii. share information obtained from its investigation of a member firm with a foreign regulatory agency.
Upon receiving a complaint about one of its member firms, FINRA may require any person associated with the member firm to provide information and to testify under oath; it may inspect and copy the books, records, and accounts of the member firm; and it may share information obtained from its investigation of a member firm with a foreign regulatory agency. The foreign regulator must agree to treat the information confidentiality, and the agreement with the foreign regulator is predicated on two requirements: ''(A) the other regulator party to the agreement must have jurisdiction over common regulatory matters; and (B) the agreement must require the other regulator to reciprocate and share with FINRA information of regulatory interest or concern to FINRA.''
Which of the following share classes do not have front-end loads?
Neither Class B nor Class C shares have front-end loads. Class B and Class C shares typically have higher 12b -1 fees, however, with Class C having the highest 12b-1 fees of the three classes.
Anna Vestor placed an order to sell 100 shares of Microsoft through the on-line site of her broker, GetErDone Broker-Dealers. GetErDone sold her shares for $24.59 a share and charged her a commission of $8.95. Among other things, the trade confirmation that Anna receives must stipulate:
i. the time and date of the transaction.
ii. that GetErDone served as a principal in the transaction.
iii. the number of shares sold and the price at which they were sold.
IV. the exchange or ECN on which the transaction was executed.
Among other things, the trade confirmation that Anna receives must stipulate the items described in Selections I and III only. The trade confirmation that Anna receives from GetErDone must stipulate the time and date of the transaction, the number of shares sold, and the price at which they were sold. The exchange or ECN on which the transaction was executed is not provided on the confirmation statement. Whether GetErDone acted as a principal or a broker in the transaction does need to be stipulated, but in this instance GetErDone acted as a broker, not a principal. GetErDone did not itself buy the shares from Anna.
Which of the following statements regarding the separate account of an insurance company is true?
The true statement is that the separate account must register as an investment company under the Investment Company Act of 1940. The premiums paid by investors for variable life insurance (less numerous charges) are invested in subaccounts within the separate account, and the earnings of the subaccounts are used, in turn, to make payments to the owners of variable life insurance policies, but not to any of the other policyholders of the company, such as the fixed annuity investors. The insurance company pays its operating expenses out of its general account.
The mortality guarantee of a variable annuity contract:
None of the choices provided is a true statement about the mortality guarantee of a variable annuity contract. The mortality guarantee guarantees that you can receive a monthly check for as long as you live, but it does not guarantee that the check will be for a specified amount.
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