The series 6 exam is administered by the Financial Industry Regulatory Authority (FINRA). It costs $75 to enroll for the exam but other fees may apply. Information can be received from FINRA for up to date fees and charges for the Series 6 Exam. The only prerequisite required for the Series 6 exam is that candidates must be sponsored by a FINRA member financial company. A Self-Regulatory Organization (SRO) is also acceptable CISM exam .
People who pass the series 6 exam are qualified to sell mutual finds and variable annuities. The Series 6 exam goes for 2 hours and 15 minutes and consists of 100 questions. The pass score is 70% and the format is a multiple choice, making it a little easier on candidates however strict study is still required. To pass the series 6 exam with flying colors you should be well aware of what the series 6 qualifies a candidate to sell and also be able to determine the importance in a relevant sense of the topics that are involved in the exam.
The Series 6 exam is has undergone a major revision that started in November 2005 and most of these related to structure of the exam rather than the subject matter. A major change was how many questions are allocated to each topic. The new focus of the exam is on RR interactions with customers. Another change is in the format of six section topics instead of four. The overall length of the exam has not changed however, with there still being 100 questions and a time limit of 135 minutes as well as a 70% pass score minimum.
There are 5 pilot or experimental questions which do no count towards the final score but which are not identified to candidates. The students can also loan pencils, calculators and scratch paper at the testing center. The series 6 exam provides a much needed qualification to people employed in this sector. Once you are qualified you will be able to sell mutual funds, unit investment trusts, variable annuities and variable life insurance.