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The Series-7 exam is a comprehensive test that covers a wide range of topics related to the securities industry. Series-7 exam is designed to assess the candidate's knowledge of the securities markets, the different types of securities, the various types of investment products, and the regulatory framework governing the securities industry. Series-7 exam consists of 125 multiple-choice questions, and candidates are given 3 hours and 45 minutes to complete it.
Reference: https://www.finra.org/registration-exams-ce/qualification-exams/series7
FINRA Series-7 Exam Overview:
| Certification Vendor: | FINRA |
|---|---|
| Exam Name: | General Securities Representative Qualification Examination (GS) |
| Exam Number: | Series-7 |
| Available Languages: | English |
| Related Certifications: | Series 65 Series 6 Series 66 Securities Industry Essentials (SIE) Series 63 |
| Exam Format: | Multiple-choice questions, Computer-based |
| Real Exam Qty: | 125 scored + 5 unscored pretest |
| Exam Price: | $395 USD |
| Certificate Validity Period: | Valid while registered and completing continuing education; no fixed expiration if active |
| Exam Duration: | 225 minutes |
| Passing Score: | 72% |
| Recommended Training: | FINRA Official Content Outline |
| Exam Registration: | FINRA Series 7 Registration Prometric Scheduling |
| Sample Questions: | FINRA Series-7 Sample Questions |
| Exam Way: | Computer-based testing at authorized Prometric test centers |
| Pre Condition: | Must be sponsored by a FINRA/SRO member firm; must pass the Securities Industry Essentials (SIE) exam as a corequisite |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
The Financial Industry Regulatory Authority (FINRA) Series-7 (General Securities Representative Qualification Examination (GS)) Certification Exam is the most comprehensive exam for individuals who want to become registered representatives in the securities industry. Passing the Series-7 exam is a requirement for individuals who want to sell securities products such as stocks, bonds, and mutual funds to the public. Series-7 exam is designed to test the knowledge and skills of individuals in a variety of areas related to the securities industry.
FINRA Series-7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives | 9% | - Account documentation and regulatory compliance - Types of accounts and ownership structures - Determining investment suitability - Customer information collection |
| Seeks Business for the Broker-Dealer from Customers and Potential Customers | 7% | - Prospecting and sales practices - Identification of potential customers - Regulatory requirements for communications with the public |
| Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes, and Confirms Transactions | 11% | - Order types and execution procedures - Recordkeeping and reporting requirements - Trade settlement and confirmation - Handling errors and discrepancies |
| Provides Customers with Information about Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Direct participation programs - Municipal securities - Characteristics of equity securities - Investment company securities and variable contracts - Options and derivative products - Portfolio analysis and risk management - Taxation and regulatory rules - Debt securities and government obligations |
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