SERIES 6 PROGRESS EXAM 5 A AND B |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+.
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SERIES 6 PROGRESS
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SERIES 6 PROGRESS
SERIES 6 PROGRESS EXAM 5 A AND B |ACTUAL
COMPLETE QUESTIONS AND CORRECT ANSWERS
(VERIFIED ANSWERS ) ALREADY GRADED A+.
SERIES 6 PROGRESS EXAM 5 A AND B |ACTUAL
COMPLETE QUESTIONS AND CORRECT ANSWERS
(VERIFIED ANSWERS ) ALREADY GRADED A+.
SERIES 6 PROGRESS EXAM 5 A AND B |ACTUAL
C...
SERIES 6 PROGRESS EXAM 5 A AND B 2024-2025 |ACTUAL
COMPLETE QUESTIONS AND CORRECT ANSWERS
(VERIFIED ANSWERS ) ALREADY GRADED A+.
Decisions of FINRA arbitration panels: a.
May be appealed
b. Are not binding if either party contests the decision
c. Are binding upon all parties to the arbitration
d. Are not binding if both parties agree not to accept the decision -
ANSWER-C
Decisions of FINRA arbitration panels are binding upon all parties to
the arbitration. The parties must agree to accept the findings of the
arbitration panel before submitting to arbitration.
If an investor asks a registered representative to underline the most
important facts in a mutual fund prospectus, the RR:
a. May not do this since it violates federal securities laws
b. May do this if a principal of the broker-dealer approves the change
c. May do this if the change is filed with FINRA
d. May do this without restriction since it was at the customer's
request - ANSWER-A
A prospectus may not be amended or altered in any way even with a
highlighter unless the changes are filed with the SEC. An RR may
discuss portions of the prospectus with the client, but should not
make any marks on the document.
,A salesperson who wishes to represent a variable life insurance
company must properly register with all of the following regulators,
EXCEPT:
a. The State Insurance Commissioner
b. The State Securities Commissioner
c. The Federal Insurance Commission
d. FINRA - ANSWER-C
To be properly licensed to sell variable insurance products, a
salesperson must obtain the appropriate FINRA license (Series 6 or
Series 7), as well as state securities and insurance licenses. There is
no federal insurance licensing agency.
A member firm is acting in the capacity of a broker and is charging a
commission. The firm is acting as a(n): a. Principal
b. Agent
c. Dealer
d. Market maker - ANSWER-B
A FINRA member firm that is acting in the capacity of a broker and is
charging a commission is acting as an agent.
If a registered representative terminates employment with a member
firm, the jurisdiction of FINRA:
a. Terminates upon the representative's resignation
b. Remains effective for five days following termination
, c. Remains effective for 30 days following termination
d. Remains effective for two years following termination - ANSWER-D
FINRA retains jurisdiction over a registered representative for a
period of two years following resignation.
An investor has been making payments into a variable annuity for the
last 20 years. The investor decides to annuitize and selects a
straightlife payout. Which TWO of the following statements are
TRUE?
I. The investment risk is assumed by the insurance company
II. The investment risk is assumed by the customer
III. The amount of the payment to the customer is guaranteed by the
insurance company
IV. The amount of the payment to the customer is not guaranteed
a. I and III
b. I and IV
c. II and III
d. II and IV - ANSWER-D
Unlike a fixed annuity, the customer assumes the investment risk in a
variable annuity. The amount of the payment depends on the
performance of the separate account. The payment could increase,
decrease, or remain the same since the amount is not guaranteed.
Bedrock Insurance Company offers life and health insurance, as well
as investment products, through its broker-dealer subsidiary.
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