Tips For Taking And Passing The Series 6 And 63 Exam

To be licensed to sell mutual funds and variable annuities, you will need to take and pass the Series 6 and 63 exam. The first is mandatory; no matter what state you live in, you must take this test to be entitled to sell mutual funds and annuities. The series 63 exam is not mandatory in all states, but the common practice is that the company you work for will require you to do it.

In the series 6 course you will learn and be tested on stocks, investment banking, securities markets, taxes, retirement plans, debt securities, variable annuities, variable life insurance and Self-Regulatory Organizations. The exam itself is made of 100 multiple choice questions and has a passing score of 70%. You will be allowed 2 hours and 15 minutes to complete the exam. To take this exam you must be sponsored by a financial company that is a Self-Regulatory Organization or is a member of FINRA (Financial Industry Regulatory Authority).

how to pass the series 6 and 63 license examTo pass the series 63 exam, you must familiarize yourself with the Uniform Securities Act. You will also be required to be familiar with the Statements of Policy and Model Rules adopted by NASAA. You will have a total of 1 hour and 15 minutes to complete 65 questions of the Series 63 exam. It has a passing grade of 72%. Some states require you to take this exam in order for your Series 6 license to be activated.

When taking the exam, being careful not to make the simple mistakes could mean the difference between passing and having to take the exam again. Carefully read the questions. Be sure that you have understood what is being asked before going on to the multiple choices.

Practice, practice, practice. Take sample tests before you sit down for the real thing. With practice you will familiarize on the way the questions are structured. You will know what to look out for and how to answer the questions well.

As you study, make sure you pay the definitions close attention. Also, familiarize yourself with words that are new to you. And as you take the exam, remember not to pick an answer you have never heard of. The wording of the questions and the multiple choices can be tricky but with enough study, this should not be a problem for you.

Be wary of time. Some people are unable to finish their exam because they take too long to answer one question and leave little time to complete the rest. Time yourself as you do your practice tests.

To be entitled to sell mutual funds and variable annuities, you will be required to take the Series 6 and 63 exam. You can pass the exams the first time if you study well and practice as much as you can before the actual exam day. When you are sitting for the exam, go through the questions carefully and be mindful of how much time you have.