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Series 6 Practice Exam 2

Series 6 Practice Exams

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Series 6 Practice Exam 2

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Question 1 of 10

1. Question

When meeting with a client, you present an illustration a good approximation of what length of time it takes for invested funds to double in value. For each $ 1,000 invested today and assuming an interest earning rate of 6% per annum, money will double in:

8 years
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9 years
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10 years
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12 years
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Question 2 of 10

2. Question

Your client has told you they been offered ‘early retirement’ by their employer at age 60 on the condition they retire now, will get their full pension as if they’d worked until age 65, and an incentive cash payment in 3 years of $ 30,000. They want to know what that cash payment is worth in today’s dollars, assuming a conservative rate of return of 3% per year.

$ 27,455
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$ 32,782
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$ 30,000
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Not enough information to compute
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Question 3 of 10

3. Question

In accordance with FINRA rules and interpretations, a written communication from an RR to their clients is deemed correspondence versus retail communication depending upon:

Content
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Mode of delivery
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Number of Recipients
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All of the above
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Question 4 of 10

4. Question

Illustrations pertaining to Variable Life Insurance policies, anticipated percentage annual returns are permissible under FINRA rules which demonstrate:

A maximum return of 8% annually but also show a 0% illustration.
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A maximum return of 12% annually but also show a 0% illustration.
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A minimum return of 3% annually and a maximum of 8%.
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Securities products can never project future returns including the variable life insurance product.
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Question 5 of 10

5. Question

The major difference between redemption of mutual fund shares and repurchase of mutual fund shares is that:

Redemption is done at next computed 4 pm ET NAV and repurchase is done based upon supply & demand for the shares when the order is processed.
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Redemption is how liquidation of mutual fund shares is to take place each business day where repurchase is not permitted under the Investment Company Act of 1940.
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Redemption and repurchase are the same thing.
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Redemption is done at next computed 4 pm ET NAV, possibly less a redemption fee, whereas repurchase involved a member broker/dealer buying the shares from the client, for which a commission will be levied.
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Question 6 of 10

6. Question

SEC Rule 134 permits communications which are ‘not deemed a prospectus.’ These communications are more generally known as:

Sales literature
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SAI (statement of additional information)
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Tombstone advertising
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Retail communications
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Question 7 of 10

7. Question

Which of the following are non-qualified plans?

Deferred compensation
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Profit-sharing
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Defined benefit pension plan
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Define contribution pension plan
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Question 8 of 10

8. Question

FINRA rules pertaining to determination of suitability are required to take in account which of the following?

Reasonable-basis
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Customer-specific basis
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Quantitative suitability
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All of the above.
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Question 9 of 10

9. Question

Collecting information about a new client is considered critically important in the securities industry. For that reason, Federal and SRO rules and regulations permit member firms to collect information, without violation privacy statutes, from each of the below sources except:

New account form
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Internet cookies
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Credit reporting agencies
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None of these are exceptions
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Question 10 of 10

10. Question

None of the following events/activities will require an updating to a registered representatives Form U-4 with the exception of:

Any addition or deletion of an OBA (Outside Business Activity)
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A change in sponsoring B/D
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A change of address
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None of these
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