What Is a Series 6 Certification?
Series 6 certification is a license that allows an individual to conduct transactions in certain securities associated with the stock market. Also known as the Investment Company Products/Variable Life Contracts Representative Exam, the Series 6 is an exam given to potential brokers and exchange workers in the United States.
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Features
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The Series 6 exam is a multiple-choice exam that deals with all of the intricate regulations and rules regarding trading and managing the proper applications of securities exchange.
Time Frame
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In order to obtain the Series 6 certificate, the individual must complete the 100 question exam within two hours and 15 minutes. Each person must get 70 percent in order to pass.
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Significance
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A Series 6 certificate allows an individual to work with mutual funds, unit investment trust, variable annuities, variable life insurance, municipal fund securities and closed-end funds on the initial offering.
Misconceptions
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People with a Series 6 certificate cannot take part in all parts of the financial sector. Transactions that cannot be handled include corporate securities, options products and direct participation programs.
Considerations
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The exam itself is managed by the Financial Industry Regulatory Authority (FINRA). A person who wants to take the exam must obtain a sponsor. This sponsor can either be a Self Regulatory Organization or a member of FINRA.
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Resources
- Photo Credit Badseed, Wikimedia Commons, Public Domain, http://en.wikipedia.org/wiki/File:Banknotes.jpg
