# What Is the Series 6 License?

![A person holding a pen taking an exam](https://www.investopedia.com/thmb/HYUFs3IhAxM7iIHvnUTb-bDRyOY=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/series6-70778b699c934002bb9f3464abe54563.jpg)

*— Willie B. Thomas / Getty Images*

> **Definition**
>
> The FINRA Series 6 license allows an individual to act as a registered representative and sell specific financial instruments.

## What Is the Series 6?

Series 6 is a securities license entitling the holder to register as a company's representative and sell certain types of [mutual funds](https://www.investopedia.com/terms/m/mutualfund.asp), [variable life insurance](https://www.investopedia.com/ask/answers/08/variable-life-insurance.asp), [municipal fund](https://www.investopedia.com/terms/m/municipalbondfund.asp) securities, [variable annuities](https://www.investopedia.com/terms/v/variableannuity.asp), and [unit investment trusts](https://www.investopedia.com/terms/u/uit.asp) (UITs). Holders of the Series 6 license are not authorized to sell corporate or municipal securities, direct participation programs, and options.

### Key Takeaways

*   Series 6 is a securities license entitling the holder to register as a company's representative and sell certain financial instruments.
*   Candidates must pass the Series 6 exam to obtain a Series 6 license.
*   Exam candidates must be sponsored by a member of FINRA or a self-regulatory organization (SRO).

## Licensed Professionals

The Series 6 license is used in the financial services industry. Jobs utilizing the Series 6 license include financial advisors, retirement plan specialists, investment advisors, and private bankers. The [Financial Industry Regulatory Authority](https://www.investopedia.com/terms/f/finra.asp) (FINRA) license allows an individual to act as a registered representative and sell mutual funds, variable annuities, and unit investment trusts (UITs).

A Series 6 holder cannot sell other securities, such as stocks, bonds, and options. If an individual wants to sell these types of securities, they need a different license, such as the FINRA Series 7 license.

Individuals with a Series 6 license provide investment advice and recommendations to clients, process transactions, and maintain accurate records of their activities. Series 6 licensees may work for a brokerage firm, bank, insurance company, or other financial institution.

## FINRA Requirements

To obtain the Series 6 license, candidates must pass the Investment Company/Variable Contracts Products Limited Representative (Series 6) exam. The [Securities Industry Essentials](https://www.investopedia.com/securities-industry-essentials-sie-exam-overview-4692828) (SIE) exam is a corequisite for the Series 6 exam but does not require firm sponsorship.

The Financial Industry Regulatory Authority (FINRA) administers the Series 6 exam. The test covers mutual funds, variable annuities, securities, tax regulations, retirement plans, and insurance products. Candidates must be sponsored by a member of FINRA or a [self-regulatory organization](https://www.investopedia.com/terms/s/sro.asp) (SRO) to take the exam, which contains 50 scored questions.

Upon receiving a passing grade, candidates must register with FINRA through their sponsoring firm to transact authorized securities. Holders of Series 6 are considered limited representatives of their sponsoring firm who can sell certain types of mutual funds, variable annuities, and variable life insurance.  

> **Warning**
>
> Series 6 license holders are not authorized to sell stocks, exchange-traded funds (ETFs), or bonds.

## Taking the Exam

FINRA began offering online testing administered by Prometric, including the Series 6 exam, in 2020. Candidates or their employers must install specialized software and provide cameras. A Series 6 license expires two years after employment unless under special circumstances such as military deployment. The [SIE](https://www.finra.org/industry/essentials-exam) exam is valid for up to four years.

A passing grade of 70% is achieved by correctly answering at least 35 of the 50 questions within 90 minutes. Five additional questions are unscored for a total of 55 questions. The test costs $75 and is administered via computer with no reference material allowed. As outlined by FINRA, the Series 6 exam covers four specific sections.

*   "Seeks Business for the Broker-dealer from Customers and Potential Customers," which is 12 questions—covering 24% of the exam.
*   "Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives" is eight questions covering 16% of the exam.
*   "Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets, and Maintains Appropriate Records" is half the exam, with 25 questions covering 50% of the exam.
*   "Obtains and Verifies Customers' Purchase and Sales Instructions; Processes, Completes, and Confirms Transactions" is five questions—covering 10% of the exam.  
    

## Series 6 vs. Series 7

The Series 6 exam is often [compared to the Series 7 exam](https://www.investopedia.com/ask/answers/042215/what-are-differences-between-series-6-exam-and-series-7-exam.asp). The Series 6 exam costs less and has a shorter test covering less material. However, a Series 6 license is all that some financial advisors, investment advisors, and retirement planners need to sell insurance, annuities, and certain types of mutual funds.

Series 6 holders cannot sell stocks, [exchange-traded funds](https://www.investopedia.com/terms/e/etf.asp) (ETFs), or bonds. Financial advisors and retirement planners who want to sell ETFs must obtain a [Series 7](https://www.investopedia.com/terms/s/series7.asp) license, which requires taking a longer and more comprehensive exam. The Series 7 license is more expansive than the Series 6 and may open more job opportunities in the securities industry.

## Are License Holders Required to Take Continuing Education Courses?

Licensees must fulfill continuing education requirements and receive sponsorship from a FINRA-registered company to keep Series 6 licenses. FINRA’s continuing education program includes a regulatory element and a firm element. FINRA Rule 1240 requires registered individuals to complete the regulatory element each year by Dec. 31. The firm element requires broker-dealers to establish and maintain a continuing [education program](https://www.investopedia.com/articles/professionaleducation/07/continuing-education.asp).

## How Much Does the Series 6 Exam Cost?

As of 2024, the Series 6 exam costs $75.

## How Long Is a Series 6 License Valid?

After two years, an individual with a Series 6 license must complete a certain number of continuing education (CE) credits depending on the state where the individual is licensed. The CE regulatory element must be completed by Dec. 31 each year or registration is considered inactive. Individuals may not engage in, or be compensated for, activities requiring a securities registration. If a license holder's registration remains inactive for two years, it will be administratively terminated, and they must re-qualify by examination.

## The Bottom Line

The FINRA Series 6 is a securities license that allows an individual to act as a registered representative and sell mutual funds, variable annuities, and unit investment trusts (UITs). Individuals must pass the Series 6 examination administered by the Financial Industry Regulatory Authority (FINRA).

> **Article Sources**
>
> 1.  FINRA. "[Series 6 – Investment Company and Variable Contracts Products Representative Exam](https://www.finra.org/registration-exams-ce/qualification-exams/series6)."
>     
> 2.  Kaplan Education. "[How to Get Your Series 6 License](https://www.kaplanfinancial.com/resources/getting-started/how-to-get-your-series-6-license)."
>     
> 3.  FINRA. "[Series 6 - Investment Company and Variable Contracts Products Representative Exam](https://www.finra.org/registration-exams-ce/qualification-exams/series6)."
>     
> 4.  Kaplan. "[Securities Industry Essential (SIE) Exam Frequently Asked Questions for Candidates](https://www.kaplanfinancial.com/resources/getting-started/sie-exam-frequently-asked-questions-for-candidates)."
>     
> 5.  FINRA, "[Coronavirus Impact on FINRA-Administered Exams](https://www.finra.org/rules-guidance/key-topics/covid-19/exams)."
>     
> 6.  FINRA. "[Qualification Exam Frequently Asked Questions (FAQ)](https://www.finra.org/registration-exams-ce/qualification-exams/faq)."
>     
> 7.  FINRA. "[Qualification Exams](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwijpN6e1Ir8AhVCmXIEHZSDC40QFnoECBwQAQ&url=https%3A%2F%2Fwww.finra.org%2Fregistration-exams-ce%2Fqualification-exams&usg=AOvVaw08heuGogk_45wor7H5CaCz)."
>     
> 8.  FINRA, "[Series 6 Exam Outline](http://www.finra.org/industry/series6#content-outline)."
>     
> 9.  Kaplan Education. "[Frequently Asked Questions About the FINRA Series 7 Exam](https://www.kaplanfinancial.com/resources/getting-started/frequently-asked-questions-about-the-finra-series-7-exam)."
>     
> 10.  FINRA. "[Maintaining Your Registration](https://www.finra.org/registration-exams-ce/manage-your-career/maintaining-your-registration-exams-ce/registration)."
>      
> 11.  FINRA. "[Continuing Education](http://www.finra.org/industry/continuing-education)."