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Finra Series-6 Exam Questions
- Topic 1: Consideration of Promotion of Efficiency, Competition, and Capital Formation/ Reinvestment of dividend income and capital gains distributions
- Topic 2: Employment of Manipulative and Deceptive Devices by Brokers or Dealers/ Seminars, lectures and other group forum requirements
- Topic 3: Records To Be Made by Certain Exchange Members, Brokers and Dealers/ Standards and required approvals of public communications
- Topic 4: Exemption for Limited Offers and Sales Without Regard to Dollar Amount of Offering/ Advertising by an Investment Company as Satisfying Requirements of Section 10
- Topic 5: Types of mutual funds: equity, fixed-income, money market, interval/ Essential facts regarding customers and customer relationships
- Topic 6: Civil Liabilities Arising in Connection with Prospectuses and Communications/ Requirements for the Use of Bond Mutual Fund Volatility Ratings
- Topic 7: Circumstances for refusing or restricting activity in an account or closing accounts/ Determination of net long-term and short-term gains or losses
- Topic 8: Insignificant Deviations from a Term, Condition or Requirement of Regulation D/ Materials Not Deemed an Offer To Sell or Offer To Buy Nor a Prospectus
- Topic 9: Reasonable-basis, customer-specific and quantitative care obligations/ Financial factors relevant to assessing a customer’s investment profile
- Topic 10: Customer-specific factors that generally affect the selection of products/ Communications with the Public About Variable Life Insurance and Variable Annuities
Free Finra Series-6 Exam Actual Questions
Note: Premium Questions for Series-6 were last updated On Aug. 14, 2025 (see below)
Which of the following statements regarding a mutual fund's expenses are true?
The true statement regarding a mutual fund's expenses is that a mutual fund's record maintenance fees cannot exceed 0.25% of average net assets. Mutual funds are permitted to have both front-end loads and charge 12b-1 fees, and the expense ratio of a mutual fund can exceed 1.0% (although a common recommendation is to select a fund with an expense ratio 1.0%.) Mutual fund families have the option of charging an ''exchange fee'' when an investor switches between their funds.
Uncle Scrooge (uncharacteristically) wants to set up a Section 529 college savings plan for his nephew, Louie. If he does so:
If Uncle Scrooge sets up a Section 529 college savings plan for his nephew Louie, and Louie decides not to go to college, Uncle Scrooge can name Louie's brother, Huey, as the beneficiary of the plan without any tax consequences. Unlike the Coverdell Education Savings Plan, there is no limit to the contribution that can be made, although gift taxes may apply if the contribution exceeds the threshold for gifts. Scrooge's contributions are not tax deductible, and although any withdrawals Louie makes will be free from federal taxation, different states have different rules regarding the taxation of 529 plans.
Phil Anthropy wrote his cousin a $15,000 check to pay for medical bills the cousin had accumulated. He also distributed $5,000 checks to three nephews who were in college, and gave his mother a check for $12,000.
Have Phil's actions triggered any gift taxes?
Yes. If Phil gives his cousin a $15,000 check, three nephews $5,000 checks, and his mother a check for $12,000, $2,000 of his total distributions is subject to the gift tax. The current annual gift tax exclusion is $13,000 per person, and he has exceeded that by $2,000 with the check he wrote to his cousin. Had Phil written the check directly to his cousin's medical care provider, no gift taxes would have been due on any of that amount either.
A person's discretionary income is:
A person's discretionary income is the income that he has left to spend or save after having paid taxes on the income and for all of the necessities, e.g., housing food, clothing, transportation, utilities, etc. His income after tax is referred to as his disposable income.
Which of the following statements regarding a letter of intent is true?
The true statement is that a letter of intent may be backdated up to 90 days so that any purchases made during that prior time period will count toward making a breakpoint. An investor has 13 months in which to invest the amount stipulated in the letter. The invested funds must consist of new money; reinvested dividends and capital gain distributions don't count. If the amount stipulated in the letter of intent is not invested during the 13 months, the investor must only make up the difference between the sales charge he paid and what he should have paid, given that he didn't qualify for the breakpoint. No interest is charged on the difference.
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