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Free Practice Questions for Series 6

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Exam Review

Key Facts: Series 6 Exam

4

Major Job Functions

FINRA content outline

70%

Passing Score

FINRA passing standard

40-60 hrs

Study Time

Recommended

50%

Information, Recommendations, Transfers & Records

25 of 50 scored items

$100

Exam Fee

FINRA

1h 30m

Exam Duration

FINRA

The Series 6 exam delivers 55 multiple-choice items: 50 scored items and 5 unidentified, unscored pretest items. The passing score is 70, and FINRA uses equating to account for differences in form difficulty. Function 3 — product information, recommendations, transfers, and records — is the largest section at 50% of scored items. Plan for 40-60 hours of study over 3-5 weeks.

Sample Series 6 Practice Questions

Try these sample questions to review concepts for the Series 6 exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 370+ question experience with AI tutoring.

1What type of security represents ownership in a corporation?
A.Corporate bond
B.Common stock
C.Municipal bond
D.Treasury bill
Explanation: Common stock represents ownership (equity) in a corporation. Stockholders are part-owners of the company and have voting rights. Bonds are debt instruments where the holder is a creditor, not an owner.
2Which of the following shareholders has priority in receiving dividends?
A.Common stockholders
B.Preferred stockholders
C.Bondholders
D.Warrant holders
Explanation: Preferred stockholders have priority over common stockholders for dividend payments. However, bondholders (creditors) must be paid interest before any dividends are distributed to shareholders.
3Common stockholders typically have which of the following rights?
A.Guaranteed dividends
B.Voting rights on corporate matters
C.Priority claim in bankruptcy
D.Fixed interest payments
Explanation: Common stockholders have voting rights, typically one vote per share, on major corporate matters such as electing the board of directors and approving mergers.
4Which type of preferred stock allows unpaid dividends to accumulate?
A.Participating preferred
B.Convertible preferred
C.Cumulative preferred
D.Callable preferred
Explanation: Cumulative preferred stock accumulates any unpaid dividends (dividends in arrears). These must be paid before any dividends can be paid to common stockholders.
5If interest rates rise, what happens to the price of existing bonds?
A.Bond prices rise
B.Bond prices fall
C.Bond prices remain unchanged
D.Bond coupon rates increase
Explanation: Bond prices and interest rates have an inverse relationship. When interest rates rise, existing bonds with lower coupon rates become less attractive compared to new bonds issued at higher rates, causing their prices to fall.
6Municipal bond interest is typically exempt from which type of tax?
A.State income tax only
B.Federal income tax only
C.Federal income tax, and possibly state tax if issued in your state
D.Capital gains tax
Explanation: Municipal bond interest is exempt from federal income tax. If the bond is issued in your state of residence, it may also be exempt from state and local taxes (triple tax-free).
7A bond trading at 95 is trading at:
A.A premium
B.A discount
C.Par value
D.Face value
Explanation: Bond prices are quoted as a percentage of par (face value). A bond at 95 is trading at 95% of par ($950 for a $1,000 bond), which is a discount. Premium = above 100, discount = below 100.
8Which type of bond is backed by the full faith and credit of the U.S. government?
A.Corporate bonds
B.Municipal bonds
C.Treasury securities
D.Agency bonds
Explanation: Treasury securities (T-bills, T-notes, T-bonds) are backed by the full faith and credit of the U.S. government, making them the safest fixed-income investments.
9Current yield is calculated as:
A.Coupon rate divided by par value
B.Annual interest divided by current market price
C.Total return divided by years to maturity
D.Yield to maturity minus coupon rate
Explanation: Current yield = Annual Interest / Current Market Price. It measures the income return on a bond based on what you actually pay, not the par value.
10Which bond rating indicates investment grade quality?
A.BB
B.CCC
C.BBB
D.D
Explanation: BBB (or Baa for Moody's) is the lowest investment grade rating. Anything below BBB/Baa is considered speculative or "junk" grade.

About the Series 6 Exam

Required for selling mutual funds, variable annuities, and variable life insurance products. The Series 6 is often called the 'limited' securities license compared to the Series 7.

Exam sponsor: FINRA. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

55 questions

Time Limit

1 hour 30 minutes

Passing Score

70%

Exam / Certification Fees

$100

Exam sponsor website

Reported exam pass rate: Not published by FINRA. FINRA does not publish an aggregate candidate pass rate Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

24% (12 items)

Seeking Business for the Broker-Dealer

Prospecting, advertising, and referrals

16% (8 items)

Opening Customer Accounts

Customer profiles, documentation, and account types

50% (25 items)

Providing Investment Information and Recommendations

Investment information, product recommendations, transfers, and records

10% (5 items)

Processing Customer Transactions

Order handling, confirmations, and recordkeeping

Preparing for the Series 6 Exam

What You Need to Know

  • Passing score: 70%
  • Exam length: 55 questions
  • Time limit: 1 hour 30 minutes
  • Exam / certification fees: $100 Official sources

Using Our Practice Resources

  • Work through all 370 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Series 6: Suggested Study Strategy

1Master mutual fund share classes (A, B, C shares) and breakpoints
2Understand variable annuity features, especially separate accounts and riders
3Know the suitability requirements for different customer types
4Study the differences between qualified and non-qualified retirement plans

Frequently Asked Questions

What can I sell with a Series 6 license?

The Series 6 license allows you to sell mutual funds, variable annuities, variable life insurance, and unit investment trusts (UITs). It does not permit selling individual stocks, bonds, or options.

How many questions are on the Series 6 exam?

The Series 6 exam has 50 scored multiple-choice items plus 5 unidentified, unscored pretest items (55 total). You have 1 hour and 30 minutes to complete it. The passing score is 70, and FINRA equates scores across exam forms rather than promising a fixed raw-question cutoff.

Should I get Series 6 or Series 7?

Choose Series 6 if you'll focus on mutual funds and insurance products at a bank or insurance agency. Choose Series 7 for broader securities sales including stocks, bonds, and options. Series 7 requires more study (70-100 hours vs 40-60) but offers more career flexibility.

Do I need the SIE before taking Series 6?

Yes, you must pass the SIE exam before or in conjunction with the Series 6. The SIE tests general securities knowledge, while Series 6 focuses on investment company products.

What is the Series 6 pass rate?

FINRA does not publish an aggregate Series 6 candidate pass rate. Treat third-party percentages as estimates, not official statistics, and prepare against FINRA's current four-function content outline.