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FINRA Series6 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions10%- Transaction processing and verification
Topic 2: Seeks Business for the Broker-Dealer from Customers and Potential Customers24%- Topics in communications, marketing, and solicitation activities
Topic 3: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records50%- Product information, suitability, recordkeeping and transfers
Topic 4: Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives16%- Account opening procedures and financial profile evaluation

FINRA Investment Company and Variable Contracts Products Representative Examination (IR) Sample Questions:

1. NASDAQ market makers provide investors with assurance that:

A) NASDAQ market makers provide investors with no assurance whatsoever. It is "buyer beware."
B) there is a market for the listed security.
C) the investor will be investing in a high quality investment with relatively low risk.
D) the investor will be able to buy or sell the security at a price he desires.


2. In 2004, your Uncle Oscar purchased 300 shares of Hasbro, Inc. for $19 a share. Uncle Oscar died earlier
year and left his Hasbro stock to you. The stock was selling for $44 on the day he died, but by the time
you learned that you were the beneficiary of the stock, the price was $47. A month later, you notice that
the stock is selling for $55 and decide to sell it. What is the tax consequence of this sale to you?

A) $2,400 taxed as short-term capital gain income
B) None of the above is the correct tax consequence of this sale.
C) $3,300, taxed as long-term capital gain income
D) $10,800, taxed as long-term capital gain income


3. Mr. Donald is the owner and CEO of Just Ducky Broker-Dealers. His wife, Ms. Daisy handles all the
ministerial duties for the firm. The firm has three other employees. Huey is the municipal bond specialist
and handles client trades in municipal securities only; Dewey handles only mutual fund sales for clients;
Louie handles all aspects of client trading in stocks, corporate bonds, and options. Which of the following
statements regarding the minimum FINRA registration requirements for these individuals is true?

A) Mr. Donald, Huey, Dewey and Louie must all be registered as general securities representatives in
accordance with FINRA rules.
B) Mr. Donald, Ms. Daisy, Dewey and Louie must be registered as general securities representatives, and
Huey must be registered as a limited securities representative under FINRA rules.
C) Mr. Donald and Ms. Daisy must be registered as principals, and the other three must be registered as
general securities representatives under FINRA rules.
D) Under FINRA rules, Mr. Donald must register as a principal, Dewey must be registered as a limited
securities representative, and Louie must be registered as a general securities representative. Daisy and
Huey need not be registered.


4. Which of the following persons is not permitted to open an investment account?
I. a general partnership
II. a corporation
III. the executor of an estate
IV. a 16-year-old entrepreneur

A) I, II, and III only
B) I, II, and IV only
C) IV only
D) I and II only


5. Ms. Newbie, a registered representative employed by Savvy Investments, has received a letter of
complaint from a client that Ms. Newbie believes is unfair and illegitimate. More specifically, she believes
that the complaint misstates the facts. Under these circumstances, Ms. Newbie:

A) can toss the complaint in the trash.
B) must respond to the complaint in writing.
C) must provide a copy of the complaint to Savvy Investments, who can decide whether or not to ignore
the letter after hearing Ms. Newbie's side of the story.
D) must provide a copy of the complaint to Savvy Investments, who is required to respond to the
complaint in writing and to keep a record of it.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: C
Question # 3
Answer: D
Question # 4
Answer: C
Question # 5
Answer: D

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