What must a newly hired person do to become FINRA registered if offering mutual fund shares?

What must a newly hired person do to become FINRA registered if offering mutual fund shares?

• A. Complete a series of interviews
• B. Pass the SIE Exam and the Series 6 Exam
• C. Obtain a bachelor's degree
• D. Work under a licensed broker for one year

Answer: (B)

To become FINRA registered and offer mutual fund shares, an individual must pass the Securities Industry Essentials (SIE) Exam, which serves as an introductory exam for prospective securities industry professionals, and the Series 6 Exam, which specifically qualifies individuals to sell mutual funds and variable products. This pathway is designed to ensure that individuals possess the fundamental knowledge of the securities industry and the specific regulatory and product knowledge needed to effectively engage in the sale of mutual funds. The SIE Exam covers essential concepts underlying the securities industry, while the Series 6 Exam focuses on the products and regulations specific to mutual funds. Completing these examinations demonstrates that the newly hired individual has the necessary understanding and is qualified to perform their job responsibilities in compliance with FINRA regulations. This structured process helps maintain industry standards and protects consumers by ensuring that those who sell financial products are adequately trained and knowledgeable.

To become FINRA registered and offer mutual fund shares, an individual must pass the Securities Industry Essentials (SIE) Exam, which serves as an introductory exam for prospective securities industry professionals, and the Series 6 Exam, which specifically qualifies individuals to sell mutual funds and variable products. This pathway is designed to ensure that individuals possess the fundamental knowledge of the securities industry and the specific regulatory and product knowledge needed to effectively engage in the sale of mutual funds.

The SIE Exam covers essential concepts underlying the securities industry, while the Series 6 Exam focuses on the products and regulations specific to mutual funds. Completing these examinations demonstrates that the newly hired individual has the necessary understanding and is qualified to perform their job responsibilities in compliance with FINRA regulations. This structured process helps maintain industry standards and protects consumers by ensuring that those who sell financial products are adequately trained and knowledgeable.