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  3. Series 6

FINRA Series 6 Exam (page: 7)
FINRA Investment Company and Variable Contracts Products Representative Examination (IR)
Updated on: 15-Feb-2026

Viewing Page 7 of 66
Series 6 PDF 325 Questions

Regulation D:

I). enables smaller firms to raise capital more quickly and more cheaply.
II). exempts the issuing firm from all disclosure requirements as long as the issue is being sold to no more than five investors.
III). has restrictions regarding the resale of the securities being sold.

  1. I only
  2. I and II only
  3. I and III only
  4. I, II, and III

Answer(s): C

Explanation:

Only Selections I and III are accurate statements regarding Regulation
D. Regulation D enables smaller firms to raise capital more quickly and more cheaply, but it also restricts the resale of the securities being sold in a Regulation D offering. It does not exempt the issuing firm from all disclosure requirements, even if the issue is being sold to only a single investor. The disclosure requirements are minimal with a Regulation D offering, however.



You have just become a licensed registered representative with Fine, Howard, Fine and Associates, a broker-dealer. (Congratulations!) You have had a brokerage account with Anon Brokerage for the past ten years. In this instance, you are required to:

  1. transfer the assets in your account with Anon to a Fine, Howard, Fine account and close your account with Anon.
  2. provide Fine, Howard, Fine with written notification of this fact.
  3. provide Anon Brokerage with written notification of your association with Fine, Howard, Fine.
  4. The actions described in both B and C are requirements.

Answer(s): D

Explanation:

If you have an account with another member firm upon becoming associated with a member firm, you are required to provide both the firm with which you have your account and your new employer in writing of the fact.



Which of the following share classes do not have front-end loads?

  1. Class A
  2. Class B
  3. Class C
  4. Neither Class B nor Class C shares have front-end loads.

Answer(s): D

Explanation:

Neither Class B nor Class C shares have front-end loads. Class B and Class C shares typically have higher 12b -1 fees, however, with Class C having the highest 12b-1 fees of the three classes.



A new issue of common stock can be classified in which of the following categories?

I). primary market
II). money market
III). secondary market
IV). capital market

  1. I only
  2. III only
  3. I and IV only
  4. II and III only

Answer(s): C

Explanation:

Only Selections I and IV are correct. A new issue of common stock will be sold in the primary market. It is also a capital market security since it has no maturity, and capital market securities are securities with greater than one year to maturity.



Steve Sharp sees a quote for a mutual fund that indicates the fund has a net asset value (NAV) of $26.60 and a public offering price (POP) of $28.00. Based on this, Mr. Sharp quickly ascertains that this fund must have:

  1. a front-end load of 5.0%.
  2. a front-end load of 5.3%.
  3. either a front-end or rear-end load of 5.0%.
  4. either a front-end or rear-end load of 5.3%.

Answer(s): A

Explanation:

A mutual fund that is reported to have a NAV of $26.60 and a POP of $28.00 must have a
front-end load of 5.0%. Front-end load = (POP - NAV)/POP = ($28.00 - $26.60)/$28.00 = 5.0%.



Viewing Page 7 of 66



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