Investment Company and Variable Contracts Products Representative (Series 6)Practice Exam

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To apply for a securities license, one must file Form _____ with FINRA.

U4
U5
Form 10-K
Form ADV

The correct answer is: U4

Filing Form U4 is a crucial step for individuals seeking to obtain their securities license. This form is used to register an applicant with FINRA (Financial Industry Regulatory Authority) and other regulatory authorities. It collects essential information about the applicant, such as personal details, employment history, disclosures regarding criminal history or regulatory issues, and information about the individual's qualifications. The completion and submission of Form U4 signal to regulators that the individual wishes to become registered and is committing to comply with the regulations governing the securities industry. In contrast, Form U5 is utilized when a registered representative leaves a firm, serving as a termination notice and providing details about the individual's departure. Form 10-K is an annual report required by the SEC and does not pertain to individual licensing. Form ADV is used by investment advisers to register with state authorities and the SEC, but it is not relevant to securities licensing under FINRA. Thus, the emphasis on the importance of Form U4 is clear, as it is the necessary step for those looking to engage in the securities business.