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Class C shares generally impose no front-end load but carry higher ongoing 12b-1 fees. This makes them better for short- to medium-term investors but costly for long-term holders. Class A shares have lower annual expenses but a front-end load. Class B shares have deferred sales charges. Series 6 candidates must distinguish share classes to ensure suitability.

A prospectus must be delivered at or before the sale of a variable annuity or mutual fund. This ensures full disclosure of fees, risks, and objectives. Trade confirmations come after execution, and account agreements apply to account opening, not product sales. Series 6 candidates must know disclosure rules cold.

Class A shares typically charge a front-end sales load but have lower ongoing 12b-1 fees compared to Class B or C shares. This makes them cost-effective for long-term investors who plan to hold shares for an extended period. Class C shares usually have higher ongoing expenses, which may reduce overall returns for long-term holders. Class B shares involve back-end charges (contingent deferred sales charges), while Class C shares are more short-term oriented. The Series 6 exam emphasizes fund share classes, cost structures, and suitability, testing whether candidates can correctly recommend shares to different investor horizons.

ETFs trade intraday on exchanges, allowing investors to buy and sell at market prices, unlike mutual funds priced once daily at NAV. ETFs do not guarantee returns or eliminate risk, and typically have lower—not higher—fees. The exam often contrasts ETFs with mutual funds.

Coverdell Education Savings Accounts allow $2,000 annual contributions, grow tax-deferred, and provide tax-free withdrawals for qualified education expenses. 529 plans offer higher contribution limits but differ in rules. Roth IRAs are for retirement, and UGMA accounts are taxable custodial accounts. Both 529 and Coverdell are tested heavily on Series 6.