Investment Company and Variable Contracts Products Principal Exam (Series 26) Exam Guide
At a glance
- Questions
- 110
- Time limit
- 2h 45m
- Passing score
- 70%
- Exam fee
- $200
- Governing body
- FINRA
The Series 26 (Investment Company and Variable Contracts Products Principal Exam) qualifies supervisors who oversee the sale of mutual funds, variable annuities, and variable life products at a broker-dealer. It is administered by FINRA and is typically taken by registered representatives moving into a supervisory or principal role at their firm.
Overview
The exam is built around three job functions that reflect the day-to-day responsibilities of an investment company products principal:
- Personnel management activities and registration of the broker-dealer — 16 questions
- Supervising associated persons and overseeing sales practices — 49 questions
- Overseeing compliance and business processes of the broker-dealer and its offices — 45 questions
Cost and registration
FINRA charges a $200 fee to register for and sit the Series 26 exam. For any additional processing or firm-level fees, check your sponsoring firm and FINRA's current fee schedule directly.
Exam format
The Series 26 consists of 110 multiple-choice questions administered over 2 hours and 45 minutes (165 minutes). A score of 70% or higher is required to pass. Candidates must already hold the SIE and either the Series 6 or Series 7 registration, and must be sponsored by a FINRA member firm to sit for the exam.
Frequently asked questions
How many questions are on the Series 26 exam?
The Series 26 exam consists of 110 scored multiple-choice questions.
What is the passing score for the Series 26?
You need to score 70% or higher to pass the Series 26 exam.
How much does the Series 26 exam cost?
FINRA charges a $200 fee to sit for the Series 26 exam.
What are the prerequisites for taking the Series 26?
You must pass the SIE plus either the Series 6 or Series 7 exam to hold the Investment Company and Variable Contracts Products Principal registration, and you must be associated with and sponsored by a FINRA member firm.
What happens if I fail the Series 26 exam?
After a first or second failure you must wait 15 calendar days before retaking it; after three or more consecutive failures within a two-year period, the wait extends to 60 calendar days.
How long is the Series 26 exam and how long has it been administered?
You get 2 hours and 45 minutes (165 minutes) to complete the exam, which FINRA has administered since June 1979.
Sources
- 1.Series 26 – Investment Company and Variable Contracts Products Principal Exam — FINRA (accessed Aug 9, 2026)
- 2.FINRA Rule 1210 (Registration Requirements) — Supplementary Material .06 — FINRA (accessed Aug 9, 2026)
- 3.Qualification Exams — FINRA (accessed Aug 9, 2026)
- 4.Enroll for a FINRA Exam — FINRA
- 5.FINRA Exam Scheduling (Prometric) — Prometric
Official sources
Every exam fact on this page traces to a primary document published by the body that administers the exam.
- Series 26 – Investment Company and Variable Contracts Products Principal ExamFINRAfinra.org
- FINRA Rule 1210 (Registration Requirements) — Supplementary Material .06FINRAfinra.org
- Qualification ExamsFINRAfinra.org
- Qualification Exam Frequently Asked Questions (FAQ)FINRAfinra.org
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