Okay - here comes the incredibly dry bit. Read straight through this Series 6 exam description, come out the other side without a splitting headache and you'll be doing well!
The Finra (Financial manufactures Regulatory Authority) speculation enterprise Products/Variable Contracts minute Representative Qualification Exam - otherwise known as the Series 6 exam - is used to qualify individuals who are seeking registration with Finra under article Iii, Section 2 of the Nasd By-Laws and applicable Membership, Registration and Qualification Rules.
2010 Tax Brackets
Okay - got that? Good. Got a headache yet?
At the end of the day - you'll know which exams you need to take to get your financial qualifications, allowing you to trade and deal across the multitude of distinct formats and areas.
If you need the Series 6 exam - then this overview is just for you! Let's break it down into as straightforward an exam overview as possible.
The Series 6 exam covers 6 areas:-
• Securities markets, speculation Securities and Economic Factors (8)
• Securities and Tax Regulation (23)
• Marketing, Prospecting and Sales Presentation (18)
• Evaluation of Customers (13)
• Product Information; speculation enterprise Securities and variable Contracts (26)
• Opening and Servicing buyer Accounts (12)
The figures in brackets after each subject are the whole of questions that each section has in the exam.
The exam is categorically a complicated choice test with a total of 100 questions.
You have 135 minutes (2 1/4 hours) in which to talk the questions and you need to get 70% of the answers precise to pass.
So let's work that out - 135 minutes for 105 questions, needing 70% correct. You can whether coming it from the point of view of having 1.28 minutes (77 seconds) for every ask in which to collate and article your talk or you can target doing 70% (70) questions and getting them all spot on!
This would give you 1.92 minutes per ask (or 115 seconds).
But I wouldn't advise that as an approach. All that takes is for you to get confused or forgetful and miss just 1 ask - and you've blown it.
Assume you are going to try and talk all 100 questions and you'll allow yourself 1 minute per question.
Then, when you've finished, you still have 30 minutes left to review, think on some of the harder questions and check your work.
Although the exam is a concluded book exam (no guides or assists allowed in other words) you will be given a calculator and plain paper for scratch work.
Not that you ever would of policy but for whatever stupid or desperate sufficient to think cheating in the exam - be aware that there are severe penalties for whatever caught cheating a financials exam!
Now for the eagle eyed among us who are reading this and think I've added up the total whole of questions from each section and got 100 - and are now wondering why I said earlier that there were 105 questions!
There are an additional 5 questions added to the exam that although marked - are not scored. These questions are added because the Series 6 exam is ordinarily updated to cover and reflect the newest regulations and rules updates. New questions are added and brought in to test their effectiveness and usability within an actual exam structure. You won't know which ones they are and don't let it phase or worry you - it makes no real dissimilarity for you when sitting the test.
At the time of writing this (March 2010) the price for the Series 6 exam is and you can find your local test centre via the Finra site.
at Bing The Series 6 Exam - What You Must Know to Get You straight through First Time
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