Obtain a Series 6 License

Obtain a Series 6 License

Obtain a Series 6 License : Multi-thousand tips to make your life easier.

A Series 6 license is a National Association of Securities Dealers (NASD) license, which is required for selling investment products such as unit investment trust funds, variable annuities and mutual funds. Generally, investment companies require their brokers and agents to have this Series 6 license. You can obtain this license by taking and passing the Series 6 Financial Certification Exam. If you are looking to be awarded this license, read on to find out the steps: 

• Know basic information about the exam. The exam consists of 100 questions (with a multiple-choice and essay format), which should be completed within the 2 hours and 15 minutes time limit. The passing score is 70%.
• Know the basic parts of the exam. There are six basic categories under which the questions can be classified, and these are the following (arranged from the most number of questions to the least): product information: investment company securities and variable contracts; securities and tax regulations; marketing, prospecting and sales presentations; evaluation of customers; opening and servicing customer accounts; and securities markets, investment securities and economic factors.
• Know the requirements for taking the exam. First, you will have to be backed and sponsored by a financial company that is a member of the Financial Industry Regulatory Authority (FINRA) or any other self-regulatory financial organization. You should also pay the $85 examination fee (plus some additional fees). Most of the time, employers pay the examination fee, plus any other expenses that their employees incur when taking the Series 6 exam.
• Look for a location. There are many testing centers in the US and some in international locations, and it’s best to register online so that you won’t have to face the hassle of going personally to a test center to inquire about test times and schedules. You can find the nearest testing center on FINRA’s official website. Most testing centers hold exams during the weekdays.
• Review for the exam. Of course, it’s very important to brush up your knowledge on securities and financial matters before you attempt to take the exam. You might want to order Series 6 test materials, or you might want to borrow those that your co-worker used when they themselves were reviewing for the same test. You should also learn the best practices for taking multiple-choice and essay-type questions. Finally, you should also know tips from people you know who have just taken the test and passed.
• Know how many times you can retake the test. In case you don’t pass the Series 6 exam, be encouraged by the fact that you can retake it as many times as necessary. A person who fails the exam needs to wait 30 days before retaking it; after three failed attempts, he can take the exam again after 6 months.

There you have it! These are the ways for obtaining a Series 6 license. The main bulk of your preparations will be studying for your exams. Once you successfully pass the exams, you can say hello to your new Series 6 license! Good luck, and hope this helped!