Free FINRA Series 6 (Investment Company and Variable Contracts Products Representative) Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives Practice Questions
Opening accounts and evaluating the customer profile on the FINRA Series 6 exam covers new account forms, Customer Identification Program (CIP) and anti-money laundering rules, suitability and best-interest obligations under Regulation Best Interest, and retirement and tax-advantaged account types (FINRA).
228 questions79 easy95 medium54 hard2026 syllabus
Sample Questions
Question 1
Easy
All of the following are employer-sponsored retirement plans EXCEPT:
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Correct Answer: D
Solution
D is correct. A Coverdell Education Savings Account is an individually established, tax-advantaged vehicle used to fund a beneficiary's education expenses. It is not sponsored or maintained by an employer and is not a retirement plan. The other choices are all retirement arrangements that an employer establishes for its workforce.
Question 2
Medium
Regular contributions to a Roth IRA are:
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Correct Answer: B
Solution
B is correct. Regular contributions to a Roth IRA are not deductible for federal income tax purposes, regardless of workplace retirement plan coverage, income or age. Authority: Internal Revenue Code Section 408A(c)(1), 26 U.S.C. 408A.
Question 3
Hard
An individual's IRA-to-IRA indirect rollovers are generally limited to:
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Correct Answer: D
Solution
D is correct. The indirect IRA rollover limit generally applies across all of an individual's IRAs during a rolling 12-month period. Opening another IRA does not create another rollover allowance. See Internal Revenue Code Section 408(d)(3)(B) and the IRS rollover guidance.
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