Investment Company and Variable Contracts Products Principal Exam (Series 26)

The content outline groups the 110 questions into three job functions:

• Supervises associated persons and oversees sales practices — 49 questions
• Oversees compliance and business processes of the broker-dealer and its offices — 45 questions
• Personnel management activities and registration of the broker-dealer — 16 questions

Sales-practice supervision is the largest block and the one that distinguishes this exam from the Series 6 it supervises: suitability review of variable products, breakpoint and share-class supervision, advertising and correspondence approval, complaint handling. Compliance and business processes cover the firm's supervisory system, written procedures, books and records and the office inspection cycle. Registration and personnel matters are the smallest share.

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.

The Series 26 is 110 multiple-choice questions in 2 hours 45 minutes, and the passing score is 70%. The fee is $200. A candidate who fails may retake after 30 calendar days; three or more consecutive failures within two years extend the wait to 180 calendar days. FINRA has amended Rule 1210 to cut these waits to 15 and 60 days, effective January 19, 2027 (Regulatory Notice 26-18); a retake window requested before that date moves to the shorter wait on January 19 unless an appointment is already scheduled. Enrolment is through the sponsoring firm.

Because enrolment is sponsored, your firm's registration department opens the exam window; you then schedule the appointment with FINRA's test vendor and sit the exam at a test center or by online delivery where FINRA offers it. The result is reported as pass or fail at the end of the session, with a section-level breakdown for a candidate who does not pass — the map for a targeted retake. The pretest items are indistinguishable from scored ones, so answer every question as if it counts.