Study the right material and do at least 1, practice questions before the big day. Passing this test is less about memorizing answers and more about understanding the material. Learning answers by rote is a formula for failure. People try brute force to memorize formulas rather than understanding the concepts. If your memory fails on the exam, there is no backup. The new Series 7 exams place more emphasis on clients and constructing portfolios for them.
The Series 7 exam is three-hours and 45 minutes. Think like an athlete and get your mind and body used to this marathon exam. Make sure your study material is up-to-date.
As regulators change the rules ever more swiftly, the study material you use needs to be less than a year old. Keep an eye out for crowd-funding questions and topics around making suitable investment recommendations.
Why should I take it? What are the requirements to sit for the Series 7 exam? Do I need a sponsor? Do I need to take the Series 7 top-off exam if I already have a different securities license? Is the Series 7 exam paper or computer-based? What topics are covered on the exam? How many questions are on the exam? How hard is the Series 7 exam? How much does it cost to sit for the exam? What are the pass rates and passing scores for the exam? If I fail the Series 7 exam, what is the wait time before I can retake it?
Ready to earn your Series 7 license? Download Free eBook. Your Practice. Popular Courses. Key Takeaways The Series 7 is an exam and license that entitles the holder to sell all types of securities products except commodities and futures. Article Sources. Investopedia requires writers to use primary sources to support their work.
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms What Is Series 79? What Is the Series 23 Exam? Registered Representative RR A registered representative RR is a financial professional who works with clients who are trading investments such as stocks and bonds. Therefore, if you leave one firm to work for another, the license is still valid.
Your Series 7 license is valid for two years after termination. For example, the Series 63 exam which usually accompanies the Series 7 license allows you to solicit orders for corporate debt and equity securities. Share It.
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