All right - below arrives the extremely dry little bit. Read through by way of this Series 6 test description, occur out the other aspect devoid of a splitting headache and you may be carrying out well!
The FINRA (Economic Marketplace Regulatory Authority) Investment decision Corporation Merchandise/Variable Contracts Minimal Agent Qualification Test - in any other case identified as the Collection 6 exam - is employed to qualify people today who are searching for registration with FINRA underneath Post III, Area 2 of the NASD By-Guidelines and applicable Membership, Registration and Qualification Regulations.
All right - got that? Great. Received a headache nevertheless?
At the end of the day - you may know which examinations you need to have to get to get your monetary qualifications, letting you to trade and deal throughout the multitude of diverse formats and areas.
If you need to have the Sequence 6 exam - then this overview is just for you! Let us break it down into as straightforward an test overview as feasible.
The Sequence 6 test addresses 6 places:-
• Securities markets, Expenditure Securities and Economic Things (8)
• Securities and Tax Regulation (23)
• Marketing, Prospecting and Revenue Presentation (18)
• Evaluation of Consumers (13)
• Product Facts Expenditure Company Securities and Variable Contracts (26)
• Opening and Servicing Shopper Accounts (12)
The figures in brackets following each subject matter are the variety of concerns that every segment has in the examination.
The exam is basically a many option take a look at with a whole of 100 questions.
You have 135 minutes (2 1/4 hours) in which to remedy the concerns and you will need to get 70% of the responses right to pass.
So let us perform that out - 135 minutes for 105 thoughts, needing 70% suitable. You can either technique it from the stage of view of having 1.28 minutes (77 seconds) for each and every dilemma in which to assess and document your solution or you can goal doing 70% (70) inquiries and getting them all place on!
This would give you 1.92 minutes for every concern (or 115 seconds).
But I would not recommend that as an approach. All that requires is for you to get puzzled or forgetful and miss out on just 1 issue - and you've got blown it.
Assume you are heading to attempt and answer all 100 issues and you are going to enable you 1 moment for every question.
Then, when you have finished, you nonetheless have 30 minutes still left to overview, think on some of the harder questions and check out your do the job.
Despite the fact that the exam is a closed ebook examination (no guides or helps allowed in other words and phrases) you will be specified a calculator and basic paper for scratch do the job.
Not that you ever would of program but for any person stupid or determined plenty of to take into account dishonest in the test - be informed that there are severe penalties for anyone caught dishonest a financials examination!
Now for the eagle eyed between us who are looking through this and assume I've extra up the complete selection of queries from every single segment and acquired 100 - and are now pondering why I stated before that there had been 105 inquiries!
There are an supplemental 5 questions extra to the exam that even though marked - are not scored. These queries are added for the reason that the Collection 6 examination is routinely up to date to include and reflect the hottest polices and principles updates. New questions are included and brought in to exam their performance and usability in just an precise exam structure. You won't know which kinds they are and really don't let it section or worry you - it makes no real distinction for you when sitting down the exam.
At the time of writing this (March 2010) the rate for the Collection 6 exam is $75 and you can come across your nearby exam centre by using the FINRA web page.