Study for the Series 6 Exam

Taking the Series 6 Exam? Have you studied the various types of accounts so that you can explain the similarities and differences? FINRA publishes a Content Outline for the Series 6 Exam, and Section 2.1 mentions testing knowledge of Types of Accounts ("e.g., prime brokerage, advisory, or fee based"). Thus FINRA is telling the Series 6 candidate that questions on this subject could appear on the Series 6 Exam. Bob Eder devotes several pages to the various Types of Accounts in his Study for the Series 6 Exam . Here is a sample of Bob Eder's treatment: Note on Clearing Brokers As far as introducing brokers and clearing brokers, the clearing broker handles the back office for the introducing broker, saving the introducing broker from having to staff and fund its own back office. In effect, the clearing broker is the main office, doing all the trade executions, record-keeping, sending out confirmations and monthly statements. The introducing broker is analogous to the branc...

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 ...