Tuesday, March 26, 2013

Series 6 Investment Company and Variable Contracts Limited Representative

Many banks, bank-holding companies, boutique financial advisory firms, insurance companies and other financial services require their representatives to take the Series 6 examination.
Once you pass the Series 6 and the attendant state law exam (Series 63), your sponsor (employer) will register you with the SEC and FINRA as a Limited Representative.
While this does not confer the extensive responsibilities of a General Securities Representative (Series 7), nevertheless it does include the type of financial products that most financial service professionals offer to their clients:  mutual funds, variable insurance and variable annuity contracts.
The variable insurance and annuity products require that you also pass an insurance exam to be licensed with your State Insurance Commission.
In general the Series 6 examination is easier to pass than the Series 7.  It consists of 100 multiple choice questions, which must be completed in 2 hours and 15 minutes.

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