Series 6 Knowledge Check – Licensing Requirements
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 Series 6 Knowledge Check – Licensing Requirements
Understanding who must be licensed, what they’re allowed to sell, and how registration works is a foundational part of the Series 6 exam. This quick knowledge check will help you review the licensing essentials tested frequently on the exam.
🧠 Question 1
Which of the following individuals must hold a Series 6 license?
A. A person executing trades of corporate bonds
B. A financial advisor recommending mutual funds
C. A person selling options contracts
D. A clerk handling paperwork for annuity purchases
✅ Correct Answer: B
Anyone recommending or selling mutual funds must be Series 6 licensed. Options require Series 7; clerical roles don’t require licensing.
🧠 Question 2
Which product is not covered by the Series 6 license?
A. Variable annuities
B. Mutual funds
C. Municipal bonds
D. Unit investment trusts (UITs)
✅ Correct Answer: C
Municipal bonds are not included in Series 6 permissions. Selling them requires a Series 7 license.
🧠 Question 3
What must a candidate do before taking the Series 6 exam?
A. Be sponsored by a FINRA-member firm
B. Pass the Series 7 exam
C. Register directly with the SEC
D. Complete one year of industry experience
✅ Correct Answer: A
FINRA requires Series 6 candidates to be sponsored by a member firm before registration and testing.
🧠 Question 4
Which of the following combinations allows someone to sell mutual funds and register with a state regulator?
A. Series 6 only
B. Series 63 only
C. Series 6 + Series 63
D. Series 7 + Series 63
✅ Correct Answer: C
Series 6 permits the sale of mutual funds, and Series 63 allows for state-level registration. Both are required to conduct business in most states.
🧠 Question 5
How often must a Series 6 license be renewed to remain active?
A. Every 6 months
B. Every year
C. Every 2 years
D. Annually, by December 31
✅ Correct Answer: D
FINRA licenses are renewed annually, with fees typically due by December 31 to maintain registration for the next calendar year.
🚀 Want More Licensing Practice?
Get access to full Series 6 licensing modules, practice exams, and flashcard sets tailored for exam success.
👉 finra-exam-mastery.com