Hey there, and welcome to our informative read on Series 6 study guide.
This is the third article in our Series 6 study series.
Find study guides for each of the four functions of the investment company and variable contracts products representative tested in the Series 6 exam.
We’ve also discussed tips to help you make the most of the Series 6 study guide and why it’s important to use the guide.
In brief, we’ll discuss:
Let’s get started right away.
Post 3 of 8 in the Series 6 Study Series
While prepping for the Series 6 exam, it’s best to use a content outline.
FINRA provides an excellent one that includes the various sections the Series 6 exam will follow which you can find here.
Module 1 | Finding business for a broker-dealer from both potential and current customers
While many registered representatives will be handed customers by the firms they work for, in some cases, they may need to find new customers too.
Or, in the case of existing clients, it’s important that they identify other areas where the client may want to invest.
That’s the basis of what’s covered in this module.
- 1.1 Reaching out to current and potential customers
- 1.2 Describing products/services and the market to customers
Module 2: Opening a customer account after securing and assessing both their financial background and their objectives for investment
In this module, we will mainly be focusing on customer accounts, both in terms of the various types there are and their restrictions.
We will also be looking at customer documentation, their circumstances when it comes to the suitability of products, and the recommendations a registered representative makes.
- 2.1 Provides information about the different account types
- 2.2 Secures customer information/documentation and looks out for suspicious activity
- 2.3 Tries to secure investment profile information regarding the customer
- 2.4 Opening accounts and the supervisory approval necessary to do so
Module 3: Gives customers investment information, provides recommendations, keeps suitable records, transfers assets
In Module 3, we look at the processes that follow once a registered representative has found out all the information they need from a new customer.
This includes providing them with information related to investment strategies, providing various data, studying their current investment profiles, disclosing information on the various products, and then keeping records as well as dealing with customer queries.
- 3.1 Give customers details regarding strategies for investment
- 3.2 Studies and scrutinizes the investment profiles of customers to understand suitability standards and make recommendations
- 3.3 Highlights various disclosures to customers about investment products
- 3.4 Keeps customer records, provides them with information about their accounts
Module 4: Acquire and confirm purchase and sale directives from customers; executes and confirms transactions
We move on to the final module we look at a number of subjects dealing with customers and transactions.
- 4.1 Gives current quotes
- 4.2 Confirmation for customer transactions in line with all regulatory requirements
- 4.3 Informs the appropriate supervisor and assists in resolutions
Tips to Make the Most of Series 6 Study Guide
The Series 6 exam has 55 test questions.
To pass this exam, you must score at least 35 out of the 50 scored questions.
Using the Series 6 study guide will help you work towards the passing score.
So, how can you make the most of the guide?
You are about to find out.
Read the Source Provided by the Exam Prep Course Provider
Most test prep providers provide their own textbooks for FINRA exams.
So, when studying for the Series 6 exam, it’s crucial to read the source text before delving into the study guide.
A study guide acts as a map that points you to the important areas you need to internalize.
It supplements the source text and is not meant to be used alone.
Pinpoint Knowledge Gaps
A study guide helps you identify the knowledge gaps.
As you review each chapter, you’ll better understand the key concepts and determine the areas you need to focus on more.
This way, you can review the chapters repeatedly and go through the source text again and again for a deeper understanding.
Further, the internet is an excellent platform for researching more information.
Review the Chapter Summaries Alongside the Source
Another excellent strategy is to read each chapter of the source alongside the chapter review in the Series 6 study guide.
At the end of each chapter, take a break to reflect on what you’ve learned.
The important points will stick better because any information you might have missed in the source you’ll find in the study guide.
This way, you can build a more comprehensive understanding of the ideas in each chapter.
Note Down Sections that Stood Out
While a study guide compresses all the important information, it’s still important to highlight the information that stands out while reading.
You can write the points that caught your attention or simply highlight them.
Revisit these sections often, especially when the exam is around the corner.
Making notes helps you learn more about the sections you don’t understand.
You can do more research on them and add that information to your notes.
Use with Other Study Resources
A study guide works best when used with study resources.
In the case of Series 6, there are several study materials that will come in handy to make the most of the study guide.
Many test prep providers have question banks with dozens of questions to help you cover the exam topics.
You can also leverage Series 6 flashcards and the exam practice questions.
The study guide is the best way to revise after taking Series 6 practice exams.
It’s straight to the point.
The best Series 6 prep course providers have an array of resources you can use together with the study guide.
So, be sure to inquire about the Series 6 study materials available when purchasing a self-study package or online class sessions.
Importance of Using Series 6 Study Guide
Our FINRA Series 6 study guide will help you prepare for the exam in many ways.
Here is a breakdown of how you stand to benefit if you use our free Series 6 study guide.
Better Understand the Exam Content
A study guide summarizes key points of the coursework.
It makes it easy to identify the important areas likely to be tested in the exam.
Since it’s a summary, the content takes on new meaning, unlike when you are reading directly from a textbook.
The same goes for our Series 6 study guide.
We’ve summarized the chapters tested in the exam to give you a comprehensive overview of the key elements in the Series 6 exam study materials.
This way, you can better understand the exam coverage.
Retain and Remember Information Long Term
Reading a textbook gives you a rough overview of the Series 6 exam, but you’ll barely grasp the important concepts.
The study guide, on the other hand, makes it easier to process the information and internalize concepts.
Since the information is summarized, you can review it repeatedly.
Further, revisiting the information in the guide is easier than in the prep course textbook.
Compress the Information You Need to Learn
Of course, reading the Series 6 study guide cannot replace reading the entire text.
However, it distills important information and makes it easy for you to learn.
You don’t need to fumble looking for key points.
The important information that would take ages to identify in the whole text is already summed up in an easy-to-understand way.
Builds Your Confidence
Nothing boosts confidence when preparing for exams than mastery of the exam content.
And a Series 6 study guide helps you do just that.
When you have a deeper understanding of the content, you’ll feel more confident to take the Series 6 qualification exam.
That’s all for today.
We hope our Series 6 study guide will help you prepare adequately for the exam.
You can leverage our other Series 6 study resources and use them together for the best results.
All our study resources are free.
All the best in your Series 6 exam test preparation.