What is the Series 7 exam and who needs to take it?
The Series 7 (General Securities Representative exam) is a FINRA-administered licensing exam required for individuals who want to sell a broad range of securities, including stocks, bonds, options, and mutual funds. Candidates must be sponsored by a FINRA-member broker-dealer before registering.
How many questions are on the Series 7 exam?
The Series 7 exam contains 125 multiple-choice questions and must be completed within 3 hours and 45 minutes. A passing score of 72% (90 correct answers) is required to earn the General Securities Representative qualification.
What topics does the Series 7 exam cover?
The Series 7 covers four main job functions: seeking business for broker-dealers, opening accounts, providing investment information and making recommendations, and obtaining and verifying customer orders. Key topics include equity securities, fixed income, options, packaged products, and regulatory requirements.