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 unp...