FINRA Series 7: General Securities Representative Examination Prep

The Series 7 Exam is required by FINRA for representatives who will engage in sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities.

Number of Questions: 250 scored questions (plus 10 unscored experimental questions).
Exam Structure: 2 130-question sessions; each sessions includes questions on all topics. All questions are multiple choice.
Prerequisites: None
Time to Complete: 6 hours total; 3 hours for each session
Passing Score: 72%; 180 correct
Recommended Study Time: 100 hours

SERIES 7 EXAM – AT A GLANCE

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SERIES 7 EXAM BREAKDOWN

Number of Test Questions for Each Major Job Function of Registered Representatives:

Major Job Functions Percentage of Test Questions Number of Questions
1. Seeks Business for the Broker-Dealer through Customers and Potential Customers 27% 68
2. Evaluates Customers’ Other Security Holdings, Financial Situation and Needs, Financial Status, Tax Status, and Investment Objectives 11% 27
3. Opens Accounts, Transfer Assets, and Maintains Appropriate Account Records 11% 27
4. Provides Customers with Information on Investments and Makes Suitable Recommendations 28% 70
5. Obtains and Verified Customer’s Purchase and Sales Instructions, Enters Orders, and Follows Up 23% 58
TOTAL 100% 250
The passing score for the Series 7 Examination is 72%

Click here to view the Exam Content Outline

The FINRA Series 7 exam does not have a prerequisite, but serves as a prerequisite for other exams, and tests the competency of individuals looking to become a General Securities Representative—an entry-level measurement of broker-dealer knowledge.

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