In finras october 1, 2018, exam restructuring, the legacy series 7 exam was effectively split into two new tests. Series 766 exam details kaplan financial education. Series 7 test breakdown whats on the series 7 test. If your memory fails on the exam, there is no backup, he says. The sie replaces portions of every previous exam, including the series 6, series 7, series 22, series 5556 replaced by series 57, series 79, series 82, series 8687, and series 99. Our videos follow our books chapter by chapter and topic by topic. The new series 7 podcast exam audio lesson prep packages provide all the necessary tools to help you prepare, practice, and perform on the new series 7 top off exam, general. Why you wont pass the series 7 exam wyzant resources. This content outline provides a comprehensive guide to the topics covered on the general securities representative qualification examination series 7. The presie series 7 was a 6 hour, 250 multiplechoice question exam that covered general financial knowledge as well as productspecific knowledge.
When an investor buys a bond, its like getting an iou from the issuer. The following is finras breakdown of the series 7 exam. On october 1, 2018, finra restructured the series 7 exam. Download a candidates complete guide to the new sie exam now to learn more about the new proposed licensing process and sie exam content. Our software features a simulation of the proctor exam. The series 7 exam is harder than you want it to be but easier than you think itll be. This prep guide wastes no time going through all of the topics. This video class details all of the concepts being tested and will let you know exactly how they are being tested on the exam.
Kaplan financial educations securities licensing exam prep packages provide all the necessary tools to help you prepare, practice, and perform on the securities industry essentials sie exam and the general securities representative qualification series 7 examination. The series 7 examination is required for individuals who wish to sell all types of securities for finra member firms, and for finra general securities member firms. Quick overview testtaking strategies introduction to the series 7 exam. The examination is developed and maintained by the financial industry regulatory authority finra. The duration column below is the amount of time permitted to complete each exam. The outline is comprised of the four major job functions of a general securities representative. Series 7 is a finra exam required for individuals who may sell a broad range of.
While the series 7 exam for dummies book doesnt cover all of the material it covers the basics. The sie exam is a corequisite with the series 6, 7, 57, 82, and 99 exams. If you buy this book along with the series 7 flashcards and watch the youtube videos you should have no problem passing the 7. Choose from 3 different sets of series 7 exam closed book flashcards on quizlet. Sometimes the company credit card isnt enough, so corporations will raise money by issuing debt securities. The series 7 content outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The table below lists the allocation of exam items for each major job function. Each question includes a detailed explanation of the correct answer. This series 7 exam study guide uses plain english and concise explanations as it ticks off the items mentioned on the finra series 7 exam outline pointbypoint. If you read varying online forums, you might get the impression that the series 7 exam. Series 7 exam, officially the general securities representative exam, the most comprehensive financial securities exam offered by the finra. Exam appointment times include an additional 30 minutes for taking the tutorial and completing the post exam survey. When you are in a position where you job is contingent on passing, i highly. The questions are in multiple choice format on the series 7 exam.
Series 7 top off general securities representative. Package comes with the actual study material as well as 14 practice tests no notes and very minimal highlighting. Candidates must also pass the sie exam to be registered with the series 7. I took the series 7 3 weeks ago and failed with a 68%, and i was using stc. My first attempt scores were in the mid 70s on the closed book exams, and in the low 90s by the time i retook. The series 7 is the most widely administered finra exam. The new series 7 tests knowledge relevant to the daytoday activities, responsibilities, and job functions of general securities representatives. These two topics account for about 20% of the exam, says marks. You wont pass the exam because you are listening to people who took the exam 5,6 or even 20 years ago. The series 7 exam is the nasd finra license for general securities representative.
Series 7 flashcards the official threehour and fortyfiveminute test, one hundred and thirtyfive questions which includes ten example questions, is designed to validate and assure that each sponsored candidate can perform all the basic requirements and functions of a registered representative. In the series 7, a lot of candidates are guilty of spending way too much time on the options and corporate bonds sectors. The member firm sponsors the individual to take an exam, such as the general securities representative series 7 exam. The most important debt security that you will need to know about for the series 7 exam is the bond. The series 7 topoff examination is required for individuals who wish to sell all types of securities for finra member firms, and for finra general securities member firms. Taking the series 7 exam, whether for the first time or the fourteenth, is a huge challenge and requires many hours of preparation. The new series 7 exam series 7 changes since sie launch. They are in great condition but they take up space on my book. A complete guide to the securities industry essentials. For me, the stakes were very high pass the series 7 exam on the first attempt or lose my new wall street job in nyc. The series 7 exam covers topics on investment risk, taxation, equity and debt instruments, packaged securities, options, and retirement plans. Candidates have to score at least 72 percent to pass.
The sie exam and the series 7 exam are corequisite exams. Sie and series 7 exam prep classes and study materials. Our series 7 training course covers all of the topics that are needed to pass the series 7 exam. The series 7 exam subreddit is a professional community of members focused on the passing of the finra series 7 exam. Learn series 7 exam closed book with free interactive flashcards. Put your time to good use by taking a look at the following articles so you can be ready before the exam. Because we understand your frustration, our series 7 manuals are written in plain english with shorter paragraphs and are focused on the finra series 7 exam. Our series 7 online examcenter gives you the ability to test your knowledge at multiple levels to gauge your knowledge level, identify areas needing improvement, and give you confidence you are prepared. Quick overview testtaking strategies introduction to the series 7 exam regulatory requirements. This is the first of two free series 7 practice exams. From series 7 exam for dummies, 4th edition with online practice.
The series 7 examination is the general securities representative qualification examination. Questions on all series 7 exam topics, including stocks, government securities, municipal and corporate bonds. He would need to pass the revised general securities representative series 7 exam but would not have to take the sie because november 1, 2018, is within four years of the date of his last registration. If you can keep that thought in your mind, it will serve you well. Our series 7 courses will prepare you for your exam. Some exams have additional unscored pretest questions. Kaplans top priorities are the health and safety of employees, students, customers, and the community. Additionally, before or after taking the series 7 exam, you must pass the securities industry essentials exam in order to become a securities registered representative. Free series 7 video class training to help you pass your exam.
The individual must be associated with a member firm to take the qualification exam. The table below lists the allocation of exam items. Detailed, stepbystep answers and explanations for every question. Looking for series 7 securities exam prep practice. Major job functions number of questions seeks business for the brokerdealer through customers and potential customers 68 evaluates customers other security holdings, financial. Training consultants series 7 topoff exam training. To reduce your frustration in obtaining your series 7 license, we try to make sure each sample question in our pass the 7. We welcome students, current registered representatives and anyone who is. Series 7 top off what are some specificobscure topics.
The financial industry regulatory authority finra puts out the series 7 exam. The advice most of my students get is just take a lot of questions,dont read the book that is a sure way to fail,yes there are some people who can just take a lot of questions and game the exam. The financial industry regulatory authority, or finra, administers the series 7 exam, which consists of questions from several different categories. The securities industry essentials sie exam content outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. Because we understand your frustration, our series 7 manuals are written in plain english with shorter paragraphs and are focused on the finra series 7 exam content. Are the questions on the sie exam different from those on the series 7 topoff exam. We offer a variety of instruction options and exam. In finras october 2018 exam restructuring, the legacy series 7 exam aka the general securities representative exam was effectively split into two new tests.