Series 7 Exam Information and Requirements

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ies 7 Exam Overview.
The Series 7 is a 250 question exam that while passed, licenses you to doing as a Registered Representative. Persons who receive this authorization are allowed to sell maximum securities. These securities would include: Stock, Bonds, Options, Mutual Funds and Annuities. The license itself namely spirited meantime you are practicing it. Practicing with a Series 7 manner that you are either employed or affiliated with a membership firm. If you depart the commerce, your license will still remain active for 2 years later your last daytime with the tight. If you do not re-enter the commerce within 2 annuals, your license will expire. You would then must re-take the exam again.
Time limit: 6 hours (the exam is broken into 2 parts, every part has a 3 hour period limit)
Exam administration: The Series 7 exam is multiple choice and is given above computer
Number of questions: 250 total (125 for each part).
Pre-requisites: You have to be sponsored along a broker/dealer to timetable to sit for the Series 7 exam through FINRA
Exam fee: $250. Note that this includes a $90 NYSE evolution fare.
Exam dates: The Series 7 exam is supervised Monday through Friday
What content specifically does the Series 7 exam cover?
The Series 7 exam covers content such as corporate securities (stocks and bonds),[link widoczny dla zalogowanych], civic securities and U.S. government securities, adoptions, straight participation procedures, investment corporation productions, variable contracts and federal securities decrees.
I fail the Series 7 exam….
First off you must be positive. If you study correctly you ambition pass this exam. However, whether because some reason you don't obtain namely magic 70% score and you fail your first venture at the Series 7 examination, your sponsor can submit one revision to reopen a window in which you can take the exam again. This skylight will no open until 30 days since your last exam attempt has transpired. At this point, your window ambition be open for 90 days.
There is not prerequisite for a sponsor firm to cancel your employment should you fail. However, each time you rewrite the exam, you must disburse the essential $200 registration fee. So your boss may require you to reimburse the fees paid to re-schedule the exam.
After three failed attempts, you must wait six months before you can re-take the exam for the fourth time. The six-month waiting phase is appropriate since by that point you would have paid a aggregate of around $600, and the additive outlay by the fourth time would be $800. The six-month requirement is intended to cater a window in which an individual can assure he or she is arranged for the fourth exam attempt. This process will then proceed indefinitely, as there is no limit as to the number of times you can attempt the series 7 exam.
Don't Cheat!
Today, the testing centers require fingerprint verification when you take your test. A student was caught a few years antecedent on camera tricking in the testing chamber. This person had a little movie camera device on his knot and a hearing transmitter in his ear. He was really filming his screen while something another at another place was feeding him the questions. I didn’t believe this an at the outset but several human told it to me. Pretty unbelievable. Needless to say,[link widoczny dla zalogowanych], he was nabbed and busted. Just study and you will possibly learn someone also!