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Series 6 practice exam

Try 10 FINRA Series 6 practice exam questions for free. Solve each of the Series 6 practice questions below to get a feel for what to expect on the actual Series 6 exam. Achievable's free Series 6 exam questions are scored instantly, providing the correct answer along with an easy to understand explanation.
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Question 1

Which of the following securities is MOST suitable for an investor specifying a preservation of capital investment objective?
A.
1 year certificate of deposit
B.
10 year Treasury note
C.
20 year AAA-rated secured corporate bond
D.
30 year general obligation bond
Question 2

A 48 year old investor contributes $60,000 to a non-qualified variable annuity. 15 years later, the account has grown to $140,000. They request a one-time distribution of $100,000. What is the tax consequence of the distribution?
A.
$100,000 taxed as ordinary income plus an early withdrawal penalty
B.
$20,000 taxed as a capital gain, $80,000 considered a tax-free return of principal
C.
$20,000 taxed as a capital gain plus an early withdrawal penalty, $80,000 considered a tax-free return of principal
D.
$80,000 taxed as ordinary income, $20,000 considered a tax-free return of principal
Question 3

Share classes with longer CDSC periods are most associated with what open-end management company share class?
A.
Class B
B.
Class D
C.
Class A
D.
Class C
Question 4

Which of the following best describes a research report?
A.
Written or electronic communication including a recommendation distributed to 15 or more persons
B.
Written or electronic communication including a recommendation distributed fewer than 15 persons
C.
Written or electronic communication including a recommendation distributed to 25 or more persons
D.
Written or electronic communication including a recommendation distributed to more than 25 persons
Question 5

All of the following are components of an open-end management company's expense ratio, EXCEPT:
A.
Legal fees
B.
Sales charges
C.
Management fees
D.
Custodial charges
Question 6

An investor meets with the investment adviser representative to discuss various life insurance products. The client prefers to make predictable, fixed premium payments over time. Additionally, they want to ensure they will receive some value back in case they no longer need the life insurance in the future and decide to forfeit the contract. Additionally, they are comfortable with the risks of investing, as they believe long term investments generally rise in value. What form of life insurance is most appropriate for the client?
A.
Term life insurance
B.
Universal life insurance
C.
Variable life insurance
D.
Universal variable life insurance
Question 7

A married couple in their early 30s are both clients of yours and are in need of investment advice. Their combined annual income is $750,000, and they currently have investment accounts with a balance of $500,000. Their entire portfolio is invested in money markets. If the couple maintains an aggressive risk tolerance and an investment objective of growth, what portfolio allocation should you recommend?
A.
80% stocks / 5% bonds / 15% money markets
B.
85% stocks / 10% bonds / 5% money markets
C.
60% stocks / 30% bonds / 10% money markets
D.
70% stocks / 20% bonds / 10% money markets
Question 8

A dispute arises between a firm and a customer, which is presented and eventually resolved through arbitration. All of the following terms are associated with arbitration, EXCEPT:
A.
Public hearings
B.
Formal
C.
Binding
D.
Public disclosure
Question 9

A 79 year old customer of yours owns a Traditional and Roth IRA at your firm. Their RMD for the current year is calculated at $13,000. Throughout the year, they take $3,900 of distributions from the Traditional IRA, and $8,350 from the Roth IRA. The following year, they realize they did not distribute the entire RMD. If no exception or waiver is requested, what is the amount of the penalty?
A.
$375
B.
$875
C.
$4,550
D.
$5,050
Question 10

A customer of yours asks you several questions regarding a 529 plan they want to create and fund for a family member. Which of the following statements is false?
A.
529 plans potentially offer tax-free growth
B.
529 plan contributions are generally non-tax deductible
C.
529 plans are state-sponsored plans
D.
Up to $1,000 of 529 funds may be used annually for education expenses not relating to college
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