SERIES 7: Pass Stockbroker Exam


General Securities Representative Exam, or SERIES 7 Exam, is a 260 question exam leading to a stockbroker license. Get real SERIES 7 questions.

Series 7: Are You Prepared?

The Series 7 exam is the common reference term for the General Securities Representative Exam and is the required testing for any aspiring stockbroker in the United States. Owned and maintained by the New York Stock Exchange Regulations and delivered by the National Association of Securities Dealers (NASD), Series 7 testing is a six-hour exam that awards achievers of a passing score (70%) a Series 7/General Securities license, which is required of any investment professional within the United States who will be communicating in any way with retail investors.

Those who often hold the Series 7 license consist of account managers, analysts, and many executives who are registered as a broker or dealer. However, clients of brokers and dealers, whether home investors or hedge fund managers, are not eligible for the license. To pass the Series 7 exam, a candidate must be very familiar with finances, the stock market, and all areas of investment. Also, once achieving the national licensure, Series 7 license holders must also have a Series 63 or Series 66 license to satisfy state requirements. There are many Series 7 exam prep tools to aid in studying the appropriate materials, and free Series 7 study guides are offered online and through many institutions to help candidates along the way.

The Series 7 exam requires that candidates receive a 70% score in order to pass. The Series 7 tests have a total of 250 questions on an exam and allow individuals to become stockbrokers selling most securities, including stocks, bonds, options, annuities, and mutual funds. After taking and passing the exam, Series 7 licensed individuals are only considered as practicing with a Series 7 if they are employed by or affiliated with a member firm. Licenses are active for only two year outside of an active firm, and if the license expires in this fashion, the Series 7 PRE test must be retaken.

The exam itself is administered in two three-hour parts, and each question is worth .4 points. In order to pass, a candidate must correctly respond to at least 175 test questions. Also, each part of the exam will include five "experimental" questions that will not be scored or affect grades. However, since these are not identified specifically, all test takers should answer every question to the best of his or her ability. Not all topics are covered in an evenly divided fashion, as approximately fifty test questions will relate to just Municipal Bonds. Other topics covered by the exam are Industry Rules Options, and Customer Account Handling. Use of calculators is permitted; however, only those provided at the testing center may be used. Individuals may not bring in their own.

Once the exam begins, test takers are allowed to use provided scrap paper to write down anything they want, including formulas, rules, and other information that can be valuable in answering questions. Answers can also be changed at the end of the test if the candidate so desires. However, only the portion of the test that is currently being administered is visible, so the first 125 questions must be completed and reviewed prior to the end of the first three-hour session. All questions must be answered before moving on to the next screen.

In order to prepare for such a rigorous examination, candidates use several Series 7 study guide materials, as well as other Series 7 study material. Series 7 sample questions can be found on many websites that discuss the structure and content of the exam in greater detail and offer Series 7 training classes. Some websites sell a Series 7 book that can be read in order to further knowledge of the specific topics covered in the testing content, while others offer a Series 7 study outline that debriefs potential test takers on the various topics covered by the exam.

Finding free Series 7 classes can be extremely beneficial, since many financial institutions offer such training in the form of free seminars. Many of these companies hope that, by offering classes and a free Series 7 study guide, they will be able to assist in creating future employees for their own offered services. In some cases, these institutions will even administer a Series 7 prep test to evaluate attendees' current knowledge and identify weaknesses that each individual needs to improve. The use of a free Series 7 exam also helps the teachers of such seminars know where to employ the greatest emphasis for the crowd in general, assessing group weaknesses. Teaching from the test also reviews topics in a manner that teaches "to the test", so that candidates don't have to wade through material that is not applicable to the exam.

Series 7 practice should include a review of study guides, books, and essential materials from college courses that assisted in achieving a degree in the field of financial management. Finally, a Series 7 free practice test should be self administered with the same guidelines as the actual test - only a basic 4-function calculator and a time limit - to assess the ability to pass the actual test. The free Series 7 exam will use questions similar to those actually on the test, as well as old test questions in many cases, especially when the candidate opts to use materials provided by the NASD and the NYSE who are the creators and administrators of the test. These institutes are most familiar with the content and format, and sources taken directly from them as study aids will be of greatest benefit for the latest updates.

All candidates are encouraged to find useful study materials prior to registering for the Series 7 exam because it is not a free exam and because it is quite demanding. Such rigorous tests are rarely passed on the first attempt without some form of study assistance, and the Series 7 is no exception to the rule. Anyone who is interested should visit a member agency and find times and dates for training sessions and testing.


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