How To Obtain a Series 6 License

A series 6 license is a National Association of Securities Dealers (NASD) license, which is a requirement for selling investment products, such as unit investment trust funds, variable annuities and mutual funds. Generally, investment companies require that their brokers and agents have this Series 6 license. You can obtain this license by taking and passing the Series 6 Financial Certification Exam. If you yourself are looking to be awarded with this license, read on to find out the steps: 

  • Know basic information about the exam. The exam consists of 100 questions (with a multiple-choice and essay format), which should be accomplished within the 2 hours and 15 minutes time limit. The passing score is 70%.
  • Know the basic parts of the exam. There are six basic categories that the questions can be classified under, and these are the following (arranged by the most number of questions to the least): product information: investment company securities and variable contracts; securities and tax regulations; marketing, prospecting and sales presentations; evaluation of customers; opening and servicing customer accounts; and securities markets, investment securities and economic factors.
  • Know the requirements for taking the exam. First, you will have to be backed and sponsored by any financial company that is a member of the Financial Industry Regulating Authority (FINRA) or any other self-regulatory financial organization. You should also pay the $85 examination fee (plus some additional fees). Most of the time, employers are the one who pay the examination fee, plus any other expenses that their employees incur when taking the Series 6 exam.
  • Look for a location. There are many testing centers in the US and some in international locations, and it’s best that you register online so that you won’t have to face the hassle of going personally to a test center to inquire about test times and schedules. You could find the nearest testing center at the FINRA’s official website. Most testing centers hold exams during the weekdays.
  • Review for the exam. Of course, it’s very important to brush up your knowledge on securities and financial matters before you attempt to take the exam. You might want to order series 6 test materials, or you might want to borrow those that your co-worker used when they themselves were reviewing for the same test. You should also learn of the best practices for taking multiple-choice and essay-type questions. Finally, you should also know of tips from the people you know who have just taken the test and passed.
  • Know how many times you can retake the test. In case you don’t pass the Series 6 exam, be encouraged by the fact that you can retake it as many times as necessary. A person who fails the exam needs to wait 30 days before retaking it; after three failed attempts, he can take the exam again after 6 months.

There you have it! These are the ways for obtaining a Series 6 license. The main bulk of your preparations will be studying for your exams. Once you successfully pass the exams, you could say hello to your new Series 6 license! Good luck, and hope this helped!


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