The Series 7 exam — the General Securities Representative Qualification Examination GS — assesses the competency of an entry-level registered representative to perform his or her job as a general securities representative.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities.
The exam consists of scored questions and an additional 10 unscored pretest questions.
NASD Stockbroker Series 7 Exam : Preparation Guide by Hondros College Staff and Thomson South-Western Staff (, Book, Other) | eBay
Candidates are given six hours to complete the exam and it is conducted in two three-hour sessions with questions per session. The passing score is 72 percent. Please see NASD Rule a General Securities Representative for more information. It includes sample questions to acquaint a candidate with the types of multiple-choice questions on the exam.
The outline is comprised of the five main job functions of a Series 7 representative:. Series 7 Content Outline. Please see Register a New Candidate for more information on the registration process. The table below lists the allocation of exam questions for each main job function of a general securities representative. If an individual took and passed the Series 7 prior to November 7, , he or she will be able to trade municipal securities, structure municipal securities underwritings and perform certain other activities involving municipal securities.
If an individual took and passed the Series 7 on or after November 7, , he or she will be qualified to engage only in municipal securities sales to, and purchases from customers. If an individual wants to be qualified to structure municipal securities underwritings or perform activities involving municipal securities that are beyond the scope of selling municipal securities to and purchasing municipal securities from customers, that individual would have to take and pass the Series 52 Municipal Securities Representative Exam.
Does Series 7 serve as a pre-requisite to the Series 53 Municipal Securities Principal Exam? If an individual took and passed the Series 7 prior to November 7, , he or she is qualified to sit for the Series 53 examination. If an individual took and passed the Series 7 on or after November 7, , he or she would have to take and pass the Series 52 Municipal Securities Representative Exam as a prerequisite to taking the Series 53 examination.
The General Securities Representative Examination Series 7 is an entry-level examination that qualifies the individual for registration with all self-regulatory organizations to trade:. The Corporate Securities Limited Representative Examination Series 62 satisfies a FINRA qualification requirement for individuals who will trade corporate securities only. Some test questions involve calculations.
Only the provided calculators may be used during the examination. The examination may contain questions that require the use of exhibits e. If so, the questions will indicate when to refer to an exhibit. Candidates are not permitted to bring any reference materials to testing sessions. Severe penalties are imposed on candidates who cheat or attempt to cheat on FINRA administered examinations.
To learn more about logistics and protocols for your exam day, please see On The Day of Your Exam. FINRA Home About FINRA Newsroom Compliance Tools Contact Firm Gateway Sign In.
Review Questions for the Series 7 Securities Licensing Exam: The Secondary Market | Quick Check Answer Key | Pearson IT Certification
You are here Home For Industry Professionals Registration and Qualification Qualification Exams Series 7 Exam - General Securities Representative Examination GS The Series 7 exam — the General Securities Representative Qualification Examination GS — assesses the competency of an entry-level registered representative to perform his or her job as a general securities representative.
On this Page Content Outline Eligibility Permitted Activities Taking The Exam Key Questions Using Reference Materials. Covered activities and products include: Options on mortgage-backed securities Government securities Repos and certificates of accrual on government securities Direct participation programs Securities traders Venture capital Sale of municipal securities Hedge funds.
SERIES 7 AT A GLANCE. Number of Items Exam Candidates Requiring Special Accommodations. Candidates with Limited English Proficiency LEP. Related Links Registered Representatives Brochure PDF KB. Permitted Activities of Registered Principals. Permitted Activities of Registered Representatives.
Implementation and Amendment Dates of Qualification Examinations.
Series 7 Exam Format
FINRA Tutorial for Taking Qualifications Exams. Prerequisites for Qualification Exams. Office of the Ombudsman.
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