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

Series6 real exams

Exam Code: Series6

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

Updated: Sep 01, 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 Customers’ Financial Profile and Investment Objectives16%- Account opening procedures and financial profile evaluation
Topic 2: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records50%- Product information, suitability, recordkeeping and transfers
Topic 3: Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions10%- Transaction processing and verification
Topic 4: Seeks Business for the Broker-Dealer from Customers and Potential Customers24%- Topics in communications, marketing, and solicitation activities

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

Question 1

Which of the following statements regarding a Coverdell Education Savings Plan (ESA) are true?
I. There are income limitations regarding those who may contribute to an ESA.
II. There is a maximum annual aggregate amount that can be contributed to a single beneficiary's
account.
III. Contributions to an ESA are tax deductible.
IV. The monies must be used prior to the beneficiary's 30th birthday for education-related expenses in
order to avoid paying both taxes and a penalty.

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


Question 2

Clem Shyster is a registered representative with a family of mutual funds. A married couple in their 50s
sought his advice about how they should best invest an $80,000 profit that they had received when they
sold a rental property they owned for a number of years. Their investment profile indicated to Clem that
their main investment objective was capital appreciation and that they were willing to accept moderate
levels of risk. Clem advised them to invest $10,000 in eight different growth funds, each of which had a
7 % front-end load. Has Clem violated any securities laws with his recommendation?

A. No. Growth funds invest in stocks that are selected to provide the capital appreciation that Clem's
clients need, and an investment in eight such funds will provide them with maximum risk diversification.
B. Yes. There is a lot of overlap of the individual stocks in which growth funds invest, so recommending
that they spread their funds among eight different growth funds has not provided them with significantly
more diversification, and it has cost them more to do so, which will benefit Clem.
C. Yes. Clem should have advised them to invest in funds that had a deferred sales charge instead of a
front-end load.
D. Yes. Although growth funds provide some amount of capital appreciation, Clem should have
recommended that they spread their money among eight different aggressive growth funds instead, to
achieve even greater capital appreciation.


Question 3

A table providing detailed information on the various fees and expenses charged by a mutual fund can be
found in the fund's:

A. financial statements.
B. annual report.
C. prospectus.
D. Statement of Additional Information (SAI. )


Question 4

Under the rules of ERISA, all private-employer sponsored retirement plans must:

A. be defined contribution plans.
B. allow any employee to participate in the retirement plan as long as the employee is at least 21 years
old.
C. provide a specific vesting schedule under which all participants in the plan will become 100% vested
after having been in the firm's employ for seven or fewer years.
D. exclude anyone who has not been employed with the firm for at least five years.


Question 5

Nancy invested $1,850 in the MidFee Mutual Fund, which has a 4% front-end load. The net asset value
(NAV) per share of the fund at the time of her purchase was $22.20.How many shares of the fund was
Nancy able to purchase?

A. 80.00
B. None of the above is correct.
C. 80.13
D. 83.33


Solutions:

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

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