What is SERIES 7 Test?
Series 7 Test or the “General Securities Representatives Exam” is an important exam for all those candidates who look forward to become a “Registered Representative” of a broker dealer in the U.S. It is administered by the “Financial Industry Regulatory Authority” which tends to cover various investments such as bonds, stocks, limited partnerships etc. The Series 7 license permits the individual to communicate with retail investors. The series 7 license holder must also have either a series 63 license or a series 66 license as well.
The test includes 260 multiple choice questions of which 10 are pre-released and hence aren't counted in the scoring. The time limit for the Series 7 exam is 6 hours and the test taker needs to score a minimum of 70% to pass the examination. The test is broken into 2 parts each being 3 hours and containing 125 questions.
There isn't any eligibility factor to restrict people from taking the test.
The candidate has to be sponsored by a financial company which is a member of the Self-Regulatory Organization or the FINRA.
Study materials and guides that are related to the course can be easily found online. Intense studying is required for the SERIES 7 exam. Be equip with all the latests books and other materials related to the subject the test is a very important factor that the candidate needs to maintain on a regular base, since they can be aware of the new additions put up for the test as well. Apart from these certain training courses can be very helpful to the candidates. Having a copy of the SERIES 7 course manual can be a huge advantage to the candidate.
To apply for the SERIES 7 Test the candidate can register online at the FINRA site. Upon selecting the Series 7 test the form will be provided to the the candidate to fill and submit back. Certain email id's are also provided to mail in if any doubts related to the Exam or regarding the applying process does occur.
The scheduling for the SERIES 7 test can be done at any “Prometric Centers”or “Pearson Professional Centers”. This help the candidates to select a date and locality best suited to them and hence made easy. The exams occur on week days only.
The results will be forwarded back to the candidates sponsors or firm.