March 9, 2015

Series 7 Test

The Series 7 test, also known as the General Securities Representative Examination, is a challenging and comprehensive assessment for men and women looking to enter this rewarding and fast-paced field of finance. This exam consists of 250 multiple-choice questions and is administered in two sections of 125 questions each; each section takes three hours to complete.

The content of the Series 7 test is divided along the seven most important critical functions of a general securities representative:

  1. According to the Financial Industry Regulatory Authority, the first task of a general securities representative is to seek business for the broker-dealer through customers and potential customers. (This task relates to 9 questions on the test.)
  2. A general securities representative should also evaluate customers in terms of financial need, current holdings, and available investment capital and help these clients identify their investment objectives (4 questions).
  3. (S)he should provide customers and prospective customers with information on investments and make suitable recommendations (123 questions).
  4. The Series 7 test also includes 27 questions regarding opening, transferring, and closing customer accounts and maintaining appropriate account records.
  5. A general securities representative should be able to explain the organization, participants, and functions of various securities markets and the principal factors that affect them (53 questions).
  6. (S)he should be able to obtain and verify the customer’s purchase and sale instructions, enter orders, and follow up on the completion of transactions (13 questions).

And finally, the Series 7 test includes 21 questions assessing the ability to monitor a customer’s portfolio and make recommendations consistent with changes in economic and financial conditions as well as the customer’s needs and objectives.

Series 7 Study Guide

Start learning how to be successful on your Series 7 exam. Our Series 7 study guide is guaranteed to help you get the results you deserve on your Series 7 test. Some test takers prefer to study using flashcards and so we have created the best Series 7 flashcards that cover everything you need to know for the Series 7 exam. Note that using multiple study aids will help you maximize the benefit from your study time.

Series 7 Study Guide
Series 7 Flashcards

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Series 7 Study Options

  1. Series 7 Study Guide: Test Prep Manual & Practice Exam Questions for the FINRA Series 7 License Exam (click here)
  2. Series 7 Exam Flashcard Study System: Series 7 Test Practice Questions & Review for the General Securities Representative Exam (click here)
  3. Official site (click here)