As noted in the comments on verse 2, verse 5 does not begin in the same way as verses 2, 3, 4, and 6. It is a statement that interrupts the list of things that the proverbs of Solomon are useful for. Because of this some interpreters and translators regard verse 5 as a parenthesis, with verse 6 then referring back to verse 1 in the same way as verses 2, 3, and 4. New International Version shows this quite clearly, with verse 5 being enclosed between dashes, and Scott has it in parentheses. New Jerusalem Bible has moved verse 5 to a position after verse 6, showing in a different way that it is not considered part of the main structure.
On the other hand translations such as Good News Translation, New Revised Standard Version, and Revised English Bible begin a new sentence at the beginning of verse 5 which includes all of verses 5 and 6. This way of understanding the text makes the Hebrew expression “for understanding. . .” at the beginning of verse 6 refer back to the term “skill” in verse 5 rather than to the proverbs of verse 1. Translators may follow either approach.
“The wise man also may hear and increase in learning”: “The wise man” stands in contrast to the immature person of verse 4 and refers to a person who has already gained understanding and whose judgment is sound and mature. “The wise man” possesses the wisdom that the ancients have gathered from long experience. The use of the masculine in “wise man” and later in “man” is not intended to be exclusive. “Hear” means more than simply receiving information through the ears; it means being open and obedient to the teaching and thoughts that the proverbs contain. “Learning” likewise is not so much acquiring facts as it is getting understanding, and in this context it refers more exactly to the content of instruction. Wise persons can become wiser by applying themselves to the learning of these proverbs.
“The man of understanding acquire skill”: “Man of understanding” translates a form of the word used in line 2 of verse 2. The word is parallel with “wise man” and has a similar meaning, that is, a perceptive person, someone who has insight. “Skill” is a word that may be related to the Hebrew noun for “rope” and the verb meaning “to tie.” The idea is that of steering or guidance. Consequently Scott translates “and the discerning man may find guidance.” Note Good News Translation “give guidance to the educated.” The sense of “guidance” is that wise persons will be guided in their judgments, decisions, and conduct by the wisdom acquired from the proverbs in this book.
We may translate verse 5, for example, “Even wise people who pay attention to these proverbs will become wiser, and those with insight will find guidance.” Contemporary English Version offers a translation using two conditional clauses: “If you are already wise, you will become even wiser. And if you are smart, you will learn to understand.”
Quoted with permission from Reyburn, William D. and Fry, Euan McG. A Handbook on Proverbs. (UBS Helps for Translators). New York: UBS, 2000. For this and other handbooks for translators see here .

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