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General Securities Representative Qualification Examination (Series 7)
600 questions
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About this exam
The General Securities Representative Qualification Examination (Series 7) is a FINRA qualification exam for people seeking to work as general securities representatives in the United States. It assesses whether candidates have the knowledge to solicit, purchase, and sell a broad range of securities products and serve customers appropriately. Candidates generally need to be associated with a FINRA member firm to take it; the Securities Industry Essentials (SIE) exam is a separate prerequisite that may be taken before firm sponsorship.
The Series 7 covers customer accounts and investment profiles, equity and debt securities, options, packaged products, municipal securities, taxation, and rules for handling customer orders. The exam uses multiple-choice questions and tests both product knowledge and how to apply it to customer situations. Preparation means more than memorizing definitions: candidates need to interpret objectives and risk tolerance, compare investments, and work through topics such as bond pricing, yield, and tax treatment. Review the current FINRA outline because exam details and registration requirements can change.
How to prepare for the Series 7 exam
- Use FINRA’s current Series 7 content outline to organize your study, and give extra review time to customer accounts, investment profiles, municipal securities, and taxation.
- Practice timed multiple-choice questions, then review every missed answer and explain why the correct choice fits the customer’s needs, risk tolerance, and circumstances.
- Build a focused review plan for equity rights and corporate actions, corporate debt pricing and yield, and account documentation; confirm registration and exam information with FINRA and your sponsoring firm.
FAQ
Who is eligible to take the Series 7 exam?
Candidates generally must be associated with a FINRA member firm, which sponsors their registration. They must also pass the SIE exam, which can be taken before or after joining a firm, subject to registration requirements.
What is the format of the Series 7 exam?
The Series 7 is a multiple-choice exam with 125 questions and a testing time of 3 hours and 45 minutes. The passing score is 72%. Check FINRA’s current exam information for any updates.
What subjects are on the Series 7 exam?
Topics include customer accounts and suitability, equities, corporate and municipal debt, options, investment companies, taxation, and securities rules. FINRA’s content outline describes the tested functions and subject areas.