FINRA Series 6 Practice Exam Questions with Answers

On the 2-year anniversary of their registration and every 3 years thereafter. When must RRs complete the Regulatory Element of Continuing Education? True True or False: Firm Element Continuing Education requires BDs to update employees on job and product-related subjects. U4 To apply for a securities license, one must file Form _____ with FINRA. Action (buy/sell), Amount (quantity), and Asset (security) What three items must be specified on a not held order A not held order will be considered a day order. For how long may a not held order be maintained? The Trust Indenture Act of 1939 regulates corporate bond offerings (NOT municipal or government offerings). The Trust Indenture Act of 1939 regulates ________________ offerings. state and local tax. Though subject to federal tax, interest on Treasuries is exempt from ________ and ________ tax. True. The interest is taxed at the federal, state, and local level. True or False: Interest paid on GNMA, FNMA, FHLMC, and SLMA agency bonds is fully taxable to investors. new issues. The Securities Act of 1933 regulates _____________. Provide investors with full and fair disclosure regarding new issues (prospectus) What is the primary purpose of the Securities Act of 1933? False True or False: The SEC judges an offering's investment merit and provides approval. Government/municipal bonds, commercial paper, bankers' acceptances, bank issues, non-profit and small business issues List the securities that are exempt from registration.