SERIES 6 IS NO PUSH OVER. IT CONTAINS QUESTIONS ON PROSPECTUSES, OFFICIAL NOTICES OF SALE, AND UNDERWRITING METHODS

In my last post, I discussed why the Series 6 exam presents a challenge to applicants that is much harder than the former versions of the test. In this post, I want to continue with this theme, and describe additional elements appearing in FINRA's Content Outline.

Section 1.2 of the Content Outline requires knowledge on bringing new issues of securities to market. The Content Outline indicates that the applicant need have familiarity with prospectus requirements, including timeliness of information, the workings of a preliminary prospectus, and the differences between preliminary and final prospectuses.

Therefore, an applicant needs to study contents of prospectuses, plus concepts such as due diligence, underwriting agreements, blue-sky laws and procedures. Also required is knowledge of official statements, preliminary official statements, and municipal notices of sale.

You can see why the Series 6 can pose problems for those taking it, especially if they go into the exam unprepared on the above.

Be cautious on which texts or study books you choose. Make sure that they cover the items in FINRA's Content Outline.

Bob Eder's study text, Study for the Series 6 Exam, covers all of the above subjects in detail, giving practice questions and real-life examples. Bob Eder's book also indicates the numbered sections of FINRA's Content Outline next to major paragraphs.

Bob Eder's book, Study for the Series 6 Exam, is available from Amazon in either paperback or ebook versions.

Here is the link to Study for the Series 6 Exam on Amazon.

Here is the link to FINRA's Content Outline. Take note of Section 1.2, dealing with bringing new issues to market.

Bob Eder received his Juris Doctor (J.D.) degree from the University of Utah, Quinney College of Law, in 2001. He is a member of the Utah State Bar, currently on inactive status.

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