That said, the feedback is mixed and similar to my SIE Exam difficulty discussion, the degree of difficulty for the new top-off exam is quite dependent on the student’s background. exam. The SIE exam is a corequisite to the Series 6 exam. I took my … Notice that there are three classifications of investment companies, and recall that the Series 6 exam always has four choices for each question, but the structure of the question could be in the A, B, C, D format, or in the Roman Numeral (I, II, III, IV) format. Alas, there is no magic bullet to mastering the content on a challenging exam. Like all other securities qualification exams, the Series 6 exam is administered by computer at a Prometric testing center. Understanding the Compound Annual Growth Rate – CAGR, Financial Industry Regulatory Authority (FINRA), Series 6 – Investment Company and Variable Contracts Products Representative Exam, Publication 590: Individual Retirement Arrangements (IRAs) - 2013, Series 63 – Uniform Securities Agent State Law Exam. Accessed May 1, 2020. or you want a career in insurance or mutual fund sales, this is a good license to have. "Series 6 – Investment Company and Variable Contracts Products Representative Exam." Face Amount Certificate CompaniesII. For example: Question 5: Which of the following is included in computing the expense ratio for a mutual fund?I. The sales charge is calculated as a percentage of the NAV.B. Cumulative Growth of a $10,000 Investment in Stock Advisor, Copyright, Trademark and Patent Information. Financial Industry Regulatory Authority. The Study Guide contains charts, graphs and practice questions, as well as a glossary of key terms. Therefore, candidates If the question is a Roman numeral question and all four responses seem to be correct, if all four choices are one of the available answers, choose that response. If we took the same information about the three classifications of investment companies and put it in another format, it could look like this: Question 3: All of the following are classifications of investment companies under the Investment Company Act of 1940, except: A. We are so confident of our training program we guarantee users who successfully complete the Guarantee Exam will pass their qualification exam on the first attempt. On-site or Remote Compliance Reviews Overview, Blue Sky Admin – Private Offering (Reg. A score of 70% or higher is required to pass the Series 6 exam. By the way, questions very much like this one, on this subject, have frequently been reported from the actual exam. A chartered financial analyst is a professional designation given by the CFA Institute that measures the competence and integrity of financial analysts. We hope to be a part of your success. This article is part of The Motley Fool's Knowledge Center, which was created based on the collected wisdom of a fantastic community of investors. It depends on the license. D is the correct answer, but a candidate who didn't read that far would have missed this question.. Management Investment Companies. Book value per common share (BVPS) derives a company's book value on a per-share basis. Choice B is wrong because the question doesn't provide an age. The passing score for the exam is 70%. Even experienced professionals would be ill advised to go into the exam without, n investment company and variable contracts products, Function One – Seeks Business for the Broker, Customers and Potential Customers - 12 questions (24%), Function Two – Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives – eight questions (16%), Function Three – Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records – 25 questions (50%), Function Four – Obtains and Verifies Customers’ Purchases and Sales Instructions; Processes, Completes and Confirms Transactions – five questions (10%). Below I will walk you through the Series 7 Top-Off Exam’s difficulty level.This new exam was first offered in October 2018, and student feedback abounds. Candidates must pass both the Series 6 exam and the SIE exam to obtain the Investment Company and Variable Contracts Products registration. For example, consider the following question and answers: Question 1: In 2013, what is the maximum allowable contribution for an individual into an Individual Retirement Account (IRA) per year? The website includes helpful articles, tools for investors, events, training, and other information for people who want a successful career in the financial industry. It is, s all the study tools needed to pass your exam, , practice tests, video lectures and many, Financial Industry Regulatory Authority (, % pass rate for first-time exam takers. If you hold a Series 6 license, you’re called a limited representative, and you can sell mutual funds, variable annuities, and variable insurance policies.