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The Financial Industry Regulatory Authority (FINRA) Series-7 (General Securities Representative Qualification Examination (GS)) Certification Exam is a crucial certification for professionals who want to work in the securities industry. Series-7 exam is designed to test the knowledge and skills of individuals who want to become general securities representatives. Series-7 exam is comprehensive, covering a wide range of topics related to securities, including stocks, bonds, options, and other investment vehicles.
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The Series 7 exam consists of 125 multiple-choice questions, which must be completed within a time limit of 225 minutes. Series-7 exam is designed to test an individual's ability to analyze and synthesize information related to securities, and to apply that knowledge to real-world scenarios. Series-7 exam is divided into two sections: a 75-question section on knowledge of investment products, and a 50-question section on general securities industry regulations. Individuals must score at least 72% on the exam to pass and become registered representatives. The Series 7 exam is widely considered to be one of the most challenging securities exams, and requires significant preparation and study to pass.
Reference: https://www.finra.org/registration-exams-ce/qualification-exams/series7
FINRA Series-7 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Makes Recommendations and Transfers Assets | - Account transfers and asset movement procedures - Suitability and recommendation rules |
| Provides Information About Investments | - Equities, fixed income, and packaged products - Taxation and risk characteristics |
| Seeks Business for the Broker-Dealer | - Understanding regulatory constraints on communications - Prospecting clients and marketing products |
| Evaluates Customers' Financial Profile | - Financial status and suitability assessment - Customer investment objectives and risk tolerance |
| Processes Customer Orders | - Trade reporting and confirmation procedures - Order entry, execution, and settlement basics |
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