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FINRA Series7 Exam Overview:
| Certification Vendor: | FINRA |
|---|---|
| Exam Name: | General Securities Representative Examination (GS) |
| Exam Number: | Series 7 |
| Exam Format: | 4 answer options per question, Multiple-choice, Computer-based |
| Related Certifications: | Series 63 Series 6 Securities Industry Essentials (SIE) Series 66 Series 65 |
| Passing Score: | 72% |
| Exam Duration: | 225 minutes |
| Real Exam Qty: | 125 scored + 5–10 unscored pretest |
| Available Languages: | English |
| Exam Price: | $395 USD |
| Certificate Validity Period: | Valid while registered and completing continuing education; expires 2 years after leaving a sponsoring firm |
| Recommended Training: | FINRA Content Outline PDF |
| Exam Registration: | FINRA Central Registration Depository (CRD) FINRA Series 7 Registration Page |
| Sample Questions: | FINRA Series7 Sample Questions |
| Exam Way: | Computer-based testing at authorized Pearson VUE or Prometric test centers |
| Pre Condition: | Must pass SIE exam; must be sponsored by a FINRA/SRO member firm |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
FINRA Series7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Provides Customers with Information about Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Municipal securities - Direct participation programs - Options and derivative products - Equity securities - Debt securities and government obligations - Recordkeeping and regulatory reporting - Margin accounts and taxation - Investment companies, ETFs, and variable annuities |
| Seeks Business for the Broker-Dealer from Customers and Potential Customers | 7% | - Product-specific disclosures and regulatory requirements - Customer communication and solicitation rules - Standards for advertising and public communications |
| Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions | 11% | - Regulatory requirements for transaction processing - Trade settlement and confirmation rules - Order types and execution procedures |
| Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives | 9% | - Account types and documentation requirements - Suitability rules and regulatory compliance - Financial profile, risk tolerance, and investment objectives |
FINRA General Securities Representative Examination (GS) Sample Questions:
A typical money market instrument carries which of the following?
- A. medium-term maturity date
- B. short-term maturity date
- C. long-term maturity date
- D. serial bond maturity date
Correct Answer: B 🗳️
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An investor purchasing a corporate bond regular way will have to pay the contracted price plus accrued
interest:
- A. up to but including the settlement date
- B. up to but not including the trade date
- C. up to and including the trade date
- D. up to but not including the settlement date
Correct Answer: D 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
Which of the following is associated with an income oil and gas partnership?
- A. the risk of dry holes
- B. high intangible drilling costs
- C. cash flow and depletion allowance
- D. capital appreciation
Correct Answer: C 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
With the Regulation T requirement at 50%, a firm wishes to impose house rules that require a minimum
equity of 40%. Which of the following is true?
- A. this action must be approved by the FRB and FINRA
- B. this cannot be implemented since maintenance requirements are only 25% of equity for long positions
- C. this is permissible
- D. this cannot be implemented because the level is below Reg T
Correct Answer: C 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
In order to determine the amount of estate tax due, if any, the assets of a decedent's estate are valued as
of the date of death. A second evaluation is then made:
- A. at any time up to six months after the date of death
- B. three months after the date of death
- C. six months after the date of death
- D. one year after the date of death
Correct Answer: C 🗳️
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