Passing the Series Seven Test is needed by most broker/dealers for their brand new trainees who wish to work as the agent. The actual Series 7 Exam is a 250 several choice examination, which covers locations such as collateral securities, financial debt securities, investments markets, expense banking, Restricted Partnerships, guidelines & regulations, municipal bonds, investment companies, options, margin, etc.
Most college students spend four to six weeks preparing for the Series Seven Exam. You should plan on spending at least three to four hours each day while preparing for your Series 7. Although you may be tempted to have a day away now and then, it is not a wonderful idea. Since you most likely wont be using a lot of the data that you are learning each day, it is quite easy to overlook what you have learned for too many slow days.
You will end up using the actual Series 7 along with either a Pearson Vue or even Thompson Prometrics testing middle. The company that you are working for will usually set up your Sequence 7 test date for you or if not, provide you with the information you need to set up your personal test day. A quality of 70% is required to pass the Series 7 and unfortunately, they dont gather, so a score of 69.Six will be curved down to 69. Because the Series 7 requires 6 hours and many testing facilities only have twelve or so computers, it usually requires about 2 weeks to get a test date. You should schedule your Series 7 test once you have a focus on date in your mind. If unconditionally you are not quite ready by that day, you can always transfer your check date back. If you need to move the actual scheduled day, you must do so at least 2 business days before your check date just before noon. Should you wait too much time to reschedule, you will be charged for the top dollar of the examination whether you are taking it or not.
Once you successfully pass the actual Series Seven, your license will remain energetic as long as you are still affiliated with a strong. However, you will be required to the qualifying examination every so often to make sure that you keep in mind what you have learned. Nevertheless, if you depart your firm for over 24 months, you will be required to take your Series Seven Exam all over again.
If you are planning on taking your own Series 7 test, put in the hours that it requires and take enough exercise exams to be able to make sure that you can pass the first time. There is not much more frustrating than having to go ahead and take Series Seven all over again (as well as wait an additional 30 days) since you didnt study quite enough.
Study difficult and pass the 1st time. Good luck on your journey.