Series 7

Have questions about the Series 7 exam? Click below to find the answers you need.

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++ANSWERTITLE What’s the Series 7? ANSWERTITLE++

++ANSWER The Series 7 exam measures a candidate’s competency to perform the duties of a General Securities Representative (GSR). ANSWER++

++ANSWERTITLE How can I become a GSR? ANSWERTITLE++

++ANSWER To become a registered General Securities Representative, a candidate must pass both the Series 7 exam and the Securities Industry Essentials (SIE) exam. ANSWER++

++ANSWERTITLE What’s on the Series 7? ANSWERTITLE++

++ANSWER High-school students in eight states are required to take it. At least thirty states use the ACT WorkKeys® in workforce development programs. Seventeen states that participate in the ACT’s Certified Work Ready Communities initiative use it, and many employers throughout the nation require it. Finally, state programs and employers use the ACT WorkKeys® to determine candidates’ readiness for employment and gauge their skills.

++TABLETOP TABLETOP++ ++TABLE4ROW ++TABLEITEM Function TABLEITEM++ ++TABLEITEM Description TABLEITEM++ ++TABLEITEM Percentage of the Test TABLEITEM++ ++TABLEITEM Number of Questions TABLEITEM++ TABLE4ROW++ ++TABLE4ROW ++TABLEITEM 1 TABLEITEM++ ++TABLEITEM Seeks Business for the Broker-Dealer from Customers and Potential Customers TABLEITEM++ ++TABLEITEM 7% TABLEITEM++ ++TABLEITEM 9 TABLEITEM++ TABLE4ROW++ ++TABLE4ROW ++TABLEITEM 2 TABLEITEM++ ++TABLEITEM Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives TABLEITEM++ ++TABLEITEM 9% TABLEITEM++ ++TABLEITEM 11 TABLEITEM++ TABLE4ROW++ ++TABLE4ROW ++TABLEITEM 3 TABLEITEM++ ++TABLEITEM Provides Customers with Information about Investments, Makes Recommendations, Transfers Assets, and Maintains Appropriate Records TABLEITEM++ ++TABLEITEM 73% TABLEITEM++ ++TABLEITEM 91 TABLEITEM++ TABLE4ROW++ ++TABLE4ROW ++TABLEITEM 4 TABLEITEM++ ++TABLEITEM Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes, and Confirms Transaction TABLEITEM++ ++TABLEITEM 11% TABLEITEM++ ++TABLEITEM 14 TABLEITEM++ TABLE4ROW++ ++TABLE4ROW ++TABLEITEM Total TABLEITEM++ ++TABLEITEM TABLEITEM++ ++TABLEITEM TABLEITEM++ ++TABLEITEM 125 questions (+10 pretest) TABLEITEM++ TABLE4ROW++

3 hours and 45 minutes ANSWER++

++ANSWERTITLE How is the Series 7 Administered? ANSWERTITLE++

++ANSWER The Series 7 is a computer-based exam. ANSWER++

++ANSWERTITLE Who administers the Series 7? ANSWERTITLE++

++ANSWER TThe Series 7 is administered by FINRA (the Financial Industry Regulatory Authority, Inc.). ANSWER++

++ANSWERTITLE How long is the Series 7? ANSWERTITLE++

++ANSWER You have 3 hours and 45 minutes to complete the Series 7. ANSWER++

++ANSWERTITLE How many questions are on the Series 7? ANSWERTITLE++

++ANSWER Each exam consists of 135 multiple-choice questions. 

125 questions are scored. 10 are pretest, unscored questions.

Each question lists four possible answer choices. Only one answer choice is correct. ANSWER++

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