Administered and required by the Financial Industry Regulatory Authority, the Series 7 licensing exam will tell FINRA what you know about equity and debt securities, options, derivatives and investment companies, along with retirement plans, taxation and regulations. Applicants are given six hours to complete the test, which contains 260 questions, and must have a score of at least 72% in order to pass and qualify for the coveted license.
What Your Series 7 License Provides
When you pass the Series 7 exam, you are recognized by FINRA as a registered representative of a broker-dealer; in other words, a stockbroker. The license qualifies you to solicit, buy and/or sell all securities products, such as options, corporate securities, municipal and municipal fund securities, direct participation programs and investment company products.
What Your Series 7 Courses Offer
By taking a specially prepared review course, you will gather all the information you need to pass the Series 7 exam. You will study the buying and selling of securities and learn about investment company products, options and related subjects that will help you complete the exam successfully. In order to accommodate busy schedules, a range of study options is offered. To learn details about the content and cost of individual training courses, click here.
Learning in the Classroom
Student-teacher interaction is offered through traditional, in-classroom study. These live training classes are offered in most major metropolitan cities throughout the U.S. They comprise a four-day review class along with 90 to 120 hours of self-study time.
Going for Virtual Training
If you are not able to attend live training classes, you can attend them online. The structure and format are the same and you can either view the course live from your home or office or save the recorded version to play at a later time. This on-demand feature allows you to access the entire course in the form of streaming video.
Self-Study for the Budget-Minded
The complete package of study materials can be mailed to you. In addition, you will be provided with access to online study aids. Put the two together and you have a budget-friendly way to train for your Series 7 exam.
Time to Find a Sponsor
A sponsor is not needed in order for you to take any of the Series 7 review courses. However, you must be sponsored by a member of FINRA or a Self-Regulatory Organization (SRO) before you can register for the Series 7 exam. If you are already employed by a FINRA or SRO member company, you should have no trouble finding a sponsor. If not, you might visit the career sections on the websites of member companies in your area to find out whether they provide sponsorships. You can also apply your networking skills to the search. Perhaps you had a professor who has a Series 7 license, or maybe you know someone in finance who could provide you with a lead to a sponsor.
Accelerate Your Career
The training review courses will provide you with all the knowledge you need to pass the Series 7 exam. Prepare with confidence. You, too, can earn your Series 7 license and begin your career as a stockbroker.
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