The National Association of Securities Dealers is revising the examination requirements for individuals who want to sell mutual funds, variable annuities and variable life insurance.[@@]
Officials plan to update the study outline for the Series 6 “limited representative” exam == the exam for representatives who will be selling mutual funds and variable contracts == with sections on topics such as Section 529 college savings plans and safeguards against money laundering.
The revised Series 6 exam would include new types of questions, but the number of questions, the time candidates have to take the exam, and the passing grade would remain the same, according to the NASD, Washington.
The NASD must get approval for the exam program changes from the U.S. Securities and Exchange Commission.
A copy of the NASD’s notice about the proposed changes to the SEC is on the Web at http://a257.g.akamaitech.net/7/257/2422/01jan20051800/edocket.access.gpo.gov/2005/pdf/E5-5561.pdf