FINRA Series6 : Investment Company and Variable Contracts Products Representative Examination (IR)

  • Exam Code: Series6
  • Exam Name: Investment Company and Variable Contracts Products Representative Examination (IR)
  • Updated: Sep 04, 2026     Q & A: 325 Questions and Answers

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FINRA Series6 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Opens Accounts After Obtaining and Evaluating Customer Financial Profile16%- Customer account types and documentation
  • 1. Suitability and KYC requirements
    • 2. Account registration and ownership types
      Topic 2: Obtains and Verifies Customers' Purchase and Sales Instructions10%- Order processing and transaction procedures
      • 1. Settlement and trade verification
        • 2. Order entry and confirmation
          Topic 3: Provides Customers with Information About Investments50%- Investment company securities and variable contracts
          • 1. Variable annuities and insurance-based products
            • 2. Risks, disclosures, and performance reporting
              • 3. Mutual funds and ETFs characteristics
                Topic 4: Seeks Business for the Broker-Dealer from Customers and Potential Customers24%- Prospecting and communication with clients
                • 1. Ethical sales practices and communications rules
                  • 2. Marketing investment company products

                    FINRA Investment Company and Variable Contracts Products Representative Examination (IR) Sample Questions:

                    Question 1

                    The AGRO Mutual Fund invests in aggressive growth stocks of midcap corporations. The fund is running
                    an advertisement on the radio that informs the listeners that AGRO earned a 22% return last year while
                    the S&P 500 Index returned only 10%.The ad also contains information regarding how an interested
                    investor can contain a fund prospectus. Has AGROviolated any securities laws with this advertisement?

                    A. Yes. Although AGRO provided the return on the S&P 500 as well as its own return, the S&P 500 Index
                    is comprised of average risk stocks and is not an appropriate benchmark for AGROto use.
                    B. Yes. AGRO is required to provide information on the specific investments it made to earn that 22%
                    return, given that the return is unusually high.
                    C. No. In addition to providing the listeners with its own return last year, AGRO appropriately provided the
                    listeners with a benchmark return; thus there has been no violation of any laws.
                    D. No. This would be considered a generic advertisement and not an offer to sell.


                    Question 2

                    Mary is interested in buying shares of the Lambchops Corporation, which sells over-the-counter. The
                    market maker with the best bid price--$3.15--is Veggie Investments. The market maker with the best ask
                    price--$3.27-is Carnivor Investments. Mary conducts trades in NYSE-listed stocks through her broker,
                    Omnivor and Associates. Given this scenario, which of the following statements is true?

                    A. Mary can buy shares of Lambchops Corporation at the ask price of $3.27 by contacting Omnivor and
                    Associates.
                    B. Mary can buy shares of Lambchops Corporation at the bid price of $3.15 by contacting Omnivor and
                    Associates.
                    C. Mary can buy shares of Lambchops Corporation at the bid price of $3.15 by contacting Veggie
                    Investments directly.
                    D. Mary can buy shares of Lambchops Corporation at the ask price of $3.27 by contacting Carnivor
                    Investments directly.


                    Question 3

                    Ken has a variable life policy and recently learned that he can borrow against its cash value to help pay
                    for some of the expenses he's incurring while pursuing a graduate degree. Which of the following
                    statements about the loan he can get is true?

                    A. Ken can borrow at most only 50% of the cash value, and only as long as he's had the policy for at least
                    three years.
                    B. Ken never has to repay the loan, but if he chooses not to do so, his wife, Barbie, won't get as much
                    when he dies.
                    C. Ken has been misinformed. He cannot borrow against the cash value of a variable life policy because
                    the cash values of these policies fluctuate constantly.
                    D. Since Ken is essentially borrowing his own money, the loan is interest-free.


                    Question 4

                    All government bonds and the majority of corporate bonds are traded:

                    A. on the floor of the NYSE.
                    B. on regional exchanges.
                    C. in the over-the-counter market.
                    D. via electronic communication networks (ECNs).


                    Question 5

                    Which of the following bonds will experience the greatest percentage change in price for a given change
                    in interest rates?

                    A. a bond with 10 years to maturity that pays a 7% coupon
                    B. a bond with 10 years to maturity that pays a 5% coupon
                    C. a bond with 5 years to maturity that pays a 7% coupon
                    D. a bond with 5 years to maturity that pays a 5% coupon


                    Solutions:

                    Question 1
                    Answer: A
                    Question 2
                    Answer: A
                    Question 3
                    Answer: B
                    Question 4
                    Answer: C
                    Question 5
                    Answer: B

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