PLAN TO TAKE THE SERIES 6 EXAM? MAKE SURE THAT YOU KNOW THE REQUIREMENTS FOR OPENING ACCOUNTS FOR CUSTOMERS

If you are planning to sit for the Series 6 exam, be careful about requirements for opening accounts for customers. FINRA has rules regarding opening accounts, and FINRA includes this topic on the Series 6 exam. See FINRA's Series 6, Content Outline, specifically Section 2.1 and 2.2.

Bob Eder discusses the requirements for opening accounts on page 87 of his Series 6 preparation manual, Study for the Series 6 Exam.

Here is a sample from Bob Eder's treatment:

Requirements for Opening New Accounts (2.2)

Here are the basic items that FINRA requires on a new account form.

1.                    social security number or tax identification number

2.                    driver's license or passport number

3.                    employment status

4.                    financial information, such as yearly income and amount of net worth

5.                    name and contact number for trusted contact person

6.                    home and business address

7.                    telephone number and email address

Here is the link to FINRA's Content Outline for the Series 6 exam. See the references to opening new accounts in FINRA's Content Outline, section 2.1 and 2.2.

Study for the Series 6 Exam is available from Amazon in both paperback and Kindle e-book versions. Here is the link to Bob Eder's Series 6 Exam study manual on Amazon.

See Bob Eder's Author Page on Amazon.com.

For questions about Bob Eder's Series 6 manual, Study for the Series 6 Exam, or questions in general about the Series 6 exam, such as Requirements for Opening New Accounts, feel free to email Bob Eder at bobeder@bobeder.net.

Bob Eder received his Juris Doctor (J.D.) degree from the University of Utah, Quinney College of Law, in 2001.