FINRA SERIES 6 PRACTICE TEST QUESTIONS WITH ANSWERS

FINRA fees paid by a member firm are based on which of the following number of registered reps employed number of branch offices registered with finra Your client has a salaried, full-time position, but his employer does not offer a company retirement plan. He also has his own clock repair business, organized as a sole proprietorship, that earns less than his salaried position. If he wants to invest for his retirement, which of the following investments is an option for him? The investor may start an IRA, assuming that he is younger than age 70½. He is also eligible to invest in a Keogh plan because he is self-employed. The Code of Procedure contains requirements for: handling violations of the Conduct Rules. A client purchasing a single premium deferred variable annuity would expect to see that the contract called for In almost all cases, single premium deferred variable annuities are sold with a contingent deferred sales load (CDSL). There is no maximum sales charge for variable annuities; the rule only states that the sales charge must be reasonable. Which of the following is the least suitable mutual fund transaction? Switching funds, unless there is a pressing reason for it, is rarely in the client's best interest. Better management is subjective and not a valid reason to switch. Which of the following are among the purposes and objectives of FINRA? FINRA is the self-regulatory organization (SRO) for the over-the-counter markets and for NYSE members. It enforces the Conduct Rules, provides mediation and arbitration services, and promotes self-discipline among members, all with the end in view of protecting the investing public. Individuals licensed as Series 6 representatives: deal in closed-end funds in the primary market only. Which of the following statements is TRUE concerning variable life separate account valuation? Unit values are computed each day. Policy cash values are a monthly computation. A busy customer has just opened a new account at your firm. She has given her lawyer limited power of attorney over the account to pursue a trading strategy for her while she makes an extended business trip. Which of the following statements regarding this customer's communications are TRUE? 1. Confirmations of trades may be sent to the lawyer with power of attorney over the account only if the customer requests it in writing and if duplicates are also sent to the customer