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Exam Code: Series6
Exam Name: Investment Company and Variable Contracts Products Representative Examination (IR)
Updated: Jul 28, 2026
Q & A: 325 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Opens Accounts After Obtaining and Evaluating Customer Financial Profile | 16% | - Customer account types and documentation
|
| Topic 2: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 24% | - Prospecting and communication with clients
|
| Topic 3: Provides Customers with Information About Investments | 50% | - Investment company securities and variable contracts
|
| Topic 4: Obtains and Verifies Customers' Purchase and Sales Instructions | 10% | - Order processing and transaction procedures
|
1. On Friday, August 6th, the Board of Directors of Ecolab (ECI) announced that it would pay a dividend of
$ 0.155 a share to shareholders of record as of Tuesday, September 21st.The dividend checks were
scheduled to be mailed on Friday, October 15th. In this scenario, the payment date is:
A) Friday, September 17th.
B) Friday, August 6th.
C) Tuesday, September 21st.
D) none of the above.
2. Which of the following is not a money market security?
A) negotiable certificates of deposit
B) commercial paper
C) Treasury bills
D) common stock
3. Annie Vestor owns shares of the URMoney Mutual Fund. Annie lives on the west coast in Seattle,
Washington. URMoney reported a net asset value per share of $10.10 on October 9th. On October 10th,
its reported net asset value per share was $10.20. Upon arriving home at 12 P.M. (her time) on October
9 th, Annie logged into the URMoney website and entered an order to redeem 500 shares of her holdings
in the fund. This order will be transacted at:
A) the net asset value of the fund at the end of the trading day on October 11th.
B) The price at which this order will be transacted cannot be estimated based on the information provided.
C) $10.10
D) $10.20
4. Eddie and Edith open a JTWROS account with you. This means that:
I. You can accept a buy or sell order from either Eddie or Edith.
II. Any check that is drafted upon a request to withdraw funds can be written to either Eddie or Edith, or
both.
III. If either Eddie or Edith die, the account assets will pass to that individual's estate, based on his or her
percentage ownership of the account.
IV. Correspondence concerning the account can be sent to either Eddie or Edith.
A) I and IV only
B) I, II, III, and IV
C) I and II only
D) I only
5. Which of the following statements regarding the taxes associated with a variable life insurance policy is
false?
A) Earnings on a variable life insurance policy grow tax-free.
B) If a policyholder withdraws some of the cash value associated with the policy, taxes need only be paid
on the amount that exceeds the totalamount of the premiums paid to date.
C) Payments to beneficiaries upon the death of the policyholder are taxed as ordinary income.
D) One variable life policy can be exchanged for another variable life policy without triggering any tax
consequences under Section 1035 of the tax code.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: C |
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