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The
NASD Series 6 is used to qualify candidates for an investment
company/variable contracts products limited representative. Registered
Representatives in this limited category of registration are permitted
to transact a member's business in redeemable securities of companies
registered pursuant to the Investment Company Act of 1940, securities
of closed-end companies registered pursuant to the Investment
Company Act of 1940 during the period of original distribution
only, and variable contracts and insurance premium funding programs
and other contracts issued by an insurance company except contracts
which are exempt securities. This category of registration does
not allow a RR to transact a member's business in corporate securities,
direct participation programs, municipal securities, or option
products.
Candidates
who wish transact a member's business in a wider variety of securities
should consider the NASD Series 7 examination. The Limited Principal
qualification examination for investment company products is the
NASD Series 26. The more general NASD Series 24 examination will
also qualify a principal for investment company products.
The
NASD Series 6 is comprised of 100 multiple choice questions and
135 minutes of testing time is allowed to complete the examination.
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Topics
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Percentage
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1.
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Securities
and markets; investment risks and policies
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23%
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2.
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Investment
companies, taxation and customer accounts
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36%
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3,
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Variable
contracts and retirement plans
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16%
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4.
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Securities
industry regulations
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25%
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