Online Access Free Series6 Practice Test

Which of the following is not one of the rules stipulated by the Securities Exchange Act of 1934?

• A.Firms are required to send copies of their annual reports to investors before an annual meeting at
  which directors are to be elected.
• B.All brokers and dealers are required to be members of a national securities association.
• C.All securities' exchanges and SROs are required to register with the SEC.
• D.Investment companies are prohibited from using any sales literature that contains an omission of a
  material fact.

Ms. Fortune died at the relatively young age of 60. Which of the following options are available to her
6 5-year-old spouse, the beneficiary of her IRA?
I. withdraw the entire balance in a single lump sum
II. continue to make contributions to the IRA as if it were his own
III. roll his deceased wife's IRA into an existing IRA that he owns

• A.I, II, and III
• B.I and II only
• C.I only
• D.I and III only

A retirement plan under which the benefit to be paid upon retirement is specified when an employee is
signed up for the plan is known as a:

• A.defined contribution plan.
• B.SIMPLE-IRA.
• C.401(k) plan.
• D.defined benefit plan.

Jill worked as a registered representative with GoForBroke Broker-Dealers for 8 years. She is married to
Jack, whose job made it necessary for them to relocate to Thailand for 3 years. They have now returned,
and Jill would like to begin working as a registered representative with GoForBroke again after her 3-year
hiatus. Given this scenario:

• A.As long as GoForBroke maintained Jill as a registered representative for its firm during her hiatus, Jill
  can begin working in her previous position immediately. There is no need to file additional paperwork or
  pay any fees to FINRA.
• B.Jill will have to retake the qualifying FINRA exams for her position, and after she has done so
  successfully, GoForBroke must register her with FINRA as one of its representatives.
• C.Jill can begin working in her previous position with GoForBroke immediately, but GoForBroke will have
  to register her as one of its representatives with FINRA within 30 days of her hire date, and Jill will have to
  pay the applicable filing fees within that same period of time.
• D.Both A and C are true statements.

Which of the following would not have to register as an investment adviser or an investment adviser
representative under the Investment Advisers Act of 1940?
I. an insurance agent who sells only whole life and term life policies
II. a commodity futures broker
III. a bank employee who sells the bank's customers only CDs and other bank securities that are
FDIC-insured
IV. a person that is registered as a broker-dealer with the SEC that also provides investment advice to its
customers for additional compensation

• A.I, II, and III only
• B.I, II, III, and IV
• C.I and III only
• D.II and III only