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

Series6 real exams

Exam Code: Series6

Exam Name: Investment Company and Variable Contracts Products Representative Examination (IR)

Updated: Aug 30, 2026

Q & A: 325 Questions and Answers

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FINRA Series6 Exam Syllabus Topics:

SectionWeightObjectives
Provides Customers with Information About Investments50%- Investment company securities and variable contracts
  • 1. Risks, disclosures, and performance reporting
    • 2. Variable annuities and insurance-based products
      • 3. Mutual funds and ETFs characteristics
        Obtains and Verifies Customers' Purchase and Sales Instructions10%- Order processing and transaction procedures
        • 1. Order entry and confirmation
          • 2. Settlement and trade verification
            Seeks Business for the Broker-Dealer from Customers and Potential Customers24%- Prospecting and communication with clients
            • 1. Marketing investment company products
              • 2. Ethical sales practices and communications rules
                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

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

                    Question 1

                    Nat Informed places a market order to buy 200 shares of Abercrombie & Fitch (ANF) on Thursday,
                    September 16th.When will Nat be required to pay for this Transaction?

                    A. on the next trading day, September 16th.
                    B. on Friday, September 17th.
                    C. by the end of the trading on September 15th.
                    D. on Tuesday, September 21st.


                    Question 2

                    Your client is trying to choose between a variable annuity and a fixed annuity. You can tell him that:
                    I. the fixed annuity will make guaranteed monthly payments, but has more purchasing power risk than a
                    variable annuity.
                    II. he can expect higher monthly payments from his fixed annuity during a bear market than he would get
                    from a variable annuity.
                    III. the earnings on both variable and fixed annuities grow tax-deferred.

                    A. I and III only
                    B. I and II only
                    C. I only
                    D. I, II, and III


                    Question 3

                    Mr. Fast Lane met an early death at the age of 42. Mr. Lane had been making contributions to a variable
                    annuity contract for several years, and at the time of his death, his contributions totaled $25,000.Although
                    the value of the contract had at one time reached $40,000, earnings included, a downturn in the market
                    has resulted in a contract value of only $23,000.How much will Mr. Lane's beneficiaries receive as the
                    death benefit associated with this contract under these circumstances?

                    A. nothing, since the contract now has a value that is less than Mr. Lane's total contributions
                    B. $25,000
                    C. $23,000
                    D. the average of what its value once was and what it is today: $31,500


                    Question 4

                    Which of the following describes a difference between a unit investment trust (UIT) and a mutual fund?

                    A. All of the above describe differences between a UIT and a mutual fund.
                    B. UITs have a fixed number of shares; mutual funds do not.
                    C. UITs must hold non-diversified portfolios; mutual funds may be either non-diversified or diversified.
                    D. UITs are not required to distribute dividends and capital gains to their shareholders as mutual funds
                    must.


                    Question 5

                    The "catch-up provision" that has been established for both the traditional and Roth IRAs applies to
                    people of what age?

                    A. 50 and older
                    B. 60 and older
                    C. 62 and older
                    D. 55 and older


                    Solutions:

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

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