Study for the Series 6 Exam

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.                ...

Never heard of municipal fund securities? Then be forewarned, the Series 6 exam covers these securities and expects you to know what they are, how they are defined, and what they include. Many  Series 6 study manuals skip them altogether. Make sure that your study manual discusses and explains them.  Bob Eder devotes six whole pages to Municipal Fund Securities on pages 214 through 220 in his  Study for the  Series 6 Exam ,  including practice questions testing the reader on his/her understanding and grasp of the text . Here is a Bob Eder paragraph on one type of municipal fund securities, local government investment pools, taken from Bob Eder's book: "Local Government Investment Pools (LGIP's) (3.2) Who creates local government investment pools? Answer: A state or local government creates these LGIP's as trusts for the benefit of participating local governments within the state. These LGIP's are considered to be municipal securities by the SEC and municipal fun...

Bob Eder's Study for the Series 6 Exam is unique in several important ways. After each major paragraph in the text, Study for the Series 6 Exam indicates reference numbers that reflect FINRA's Study Guide and Content Outline. So, for example, when discussing types of accounts, such as prime brokerage, advisory accounts, or fee-based accounts, Bob Eder indicates the section of the Series 6 Content Outline, such as 2.1, next to each appropriate paragraph.  Why is this unique and why is it important? It is important because this is the student's assurance that Study for the Series 6 Exam sticks to discussions of topics covered by the Series 6 exam, and that it does not contain extraneous, excessive and unimportant material that will not be asked on the exam. Too many Series 6 study texts throw in extraneous excessive materials and topics that waste the student's limited study hours.  How do we know that they are not important, excessive, and not covered on the Series 6 ...