How do I register to take the Series 6?
To take the Series 6, a FINRA member firm must file a Form U4 application on your behalf through FINRA’s Central Registration Depository (CRD). You will have to get fingerprinted and answer a lengthy set of questions about your background.
What does the Series 6 qualify me to do?
A Series 6 license qualifies representatives to solicit, purchase and/or sell securities of companies registered under the Investment Company Act of 1940, including mutual funds, closed-end companies and variable contracts.
How long should I prepare for this exam?
We recommend studying 60-80 hours over a four week period.
What score do I need to pass the exam?
A score of 70% is required for passing.
Note: Your score will be rounded down to the next lowest whole number (e.g. 69.9% would be a final score of 69%--not a passing score for the Series 6 Exam).
How does my registration date affect whether I need to take the current version of the exam, or the new top-off version plus the SIE?
If your firm submits your application for registration on or before September 30th, you must take the current version of the exam, and you will have 120 days to take it. (Yes, that means that in theory you could take the current exam as late as January 2019.)
However, if you need to retake the exam, you may be forced to take the new top-off exam plus the SIE. See the next question.
What if an individual fails to pass the current Series 6 exam, and the next exam is after October 1, 2018, will that individual have to take the SIE and the new top-off Series 6 exam?
Yes. But the individual would not be required to wait 30 days because the SIE and the top-off Series 6 exam are different exams from the current Series 6 exam.
How many questions are on the exam?
How long is the exam?
Are there other FINRA exams I need to complete as a prerequisite to attempting the Series 6?
How much does the exam cost?
If I stop working for my firm, how long will my Series 6 license remain active?
You will have two years between jobs before the license expires.
When you cease working for a firm, your employer will file a Form U5 to terminate your registration. Your next employer will file a Form U4, which will re-register you. As long as you do not exceed two years between employers, your Series 6 license will remain active.
With the FINRA exam restructure, which exam is right for me?
If you apply to be a representative on or after October 1st, you will be required to take the SIE and the updated representative exam.
If you are a registered representative and you do not pass the current representative exam, and your next testing date is on or after October 1st, you must take the updated representative exam. Your waiting period will be waived, as the updated exam will be considered a new exam.
If you are not a registered representative and you do not pass the current representative exam, and your next testing date is on or after October 1st, you will be required to take the SIE and the updated representative exam. Your waiting period will be waived, because the SIE and updated exams will both be new exams.
If your registration lapsed between October 1st 2014 and September 30th 2018, and you pre-register within four years of your last registration, you will not need to take the SIE. You will, however, take the updated version of the exam.
General exam questions? See our general FAQs.
For information about Solomon Exam Prep’s Series 6 exam study materials, please click here.
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