Investment Company and Variable Contracts Products Representative Qualification Examination (IR)

Here you have the best FINRA Series 6 practice exam questions

You have 325 total questions to study from
Each page has 5 questions, making a total of 65 pages
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This questions were last updated on January 7, 2026
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Question 1 of 325

Which of the following statements about the over-the-counter market is true?

Only penny stocks are traded in the over-the-counter market.

Trades in the over-the-counter market are conducted via the auction process.

Only bonds and other debt instruments are traded in the over-the-counter market.

Stocks that are listed on exchange floors are also traded in the over-the-counter market.

Correct Answer: D

Question 2 of 325

Which of the following is not an auction market?

NASDAQ

NYSE

CHX

All of the above are auction markets

Correct Answer: A

Question 3 of 325

The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a:

registered trader.

specialist.

floor broker.

commission broker.

Correct Answer: B

Question 4 of 325

Which of the following statements about specialists is false?

Specialists are market makers in assigned stocks and, as such, can profit from these investments.

Specialists are required to maintain a fair and orderly market in their assigned stocks, meaning that they must buy if there is an excess of sell orders and sell out of their own portfolios if there is an excess of buy orders.

Specialists are employees of the exchange on which they oversee trades.

In addition to acting as market makers, specialists also act as agents and execute limit orders placed by commission brokers for their clients if the specified

Correct Answer: C

Question 5 of 325

NASDAQ market makers provide investors with assurance that:

there is a market for the listed security.

the investor will be able to buy or sell the security at a price he desires.

the investor will be investing in a high quality investment with relatively low risk.

NASDAQ market makers provide investors with no assurance whatsoever. It is "buyer beware."

Correct Answer: A