The General Securities Representative Examination (Series 7) is an entry-level exam that qualifies individuals for registration with all self-regulatory organizations to trade, promote, and sell all forms of general securities.
Compared to a six-hour long trial by fire for aspiring stock brokers, the exam consists of 250 questions about everything from stocks and stock markets, government securities, municipal and corporate bonds, and options to rules for acquiring customers and handling their accounts, general economic theory, and the rules and regulations of the Securities and Exchange Commission.
To take the exam, you must register at an approved exam center. Go to www.prometric.com to find an exam center near you. You can also ask your firm's principal to schedule the exam for you or to provide you with a list of test centers in your area.
QHow long is the Series 7 Exam?
A6 hours, broken down into two 3-hour sessions
QHow much does it cost to take the Series 7 exam?
AThe fee is $290
QWhat does the Series 7 exam consist of?
A250 questions are broken down into two 3-hour segments.
QHow much time do I need to study?
AMost people devote approximately 60 hours to study for the Series 7 exam. Wiley and The Securities Institute recommend a study window of between 1-3 months.
QMust I be sponsored to take the exam?
QWhat is the required pass score?