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Passing the Series 7 License Exam is a requirement before anyone doing work in the finance industry can sell or buy securities including stocks, bonds, derivatives and then any other investments promoted on the average person. Quality is run with the Financial Industry Regulatory Authority (FINRA) and covers a large range of investments and products. As a way to consider the exam, generally you need to be sponsored by the registered person in FINRA, although now and again the state of hawaii can become your sponsor an advanced Registered Investment Advisor.
The [http://md-bomber3000.com.ua/forum/index.php?p=/discussion/7943/using-series-7-license-exam series exam prep] is just one of several securities licenses that agents must hold to be able to talk to retail investors; some states require further licenses such as the Series 63 or Series 66 licenses. Account managers, analysts and advisors employed by registered Brokers and Dealers hold Series 7 licenses, giving the investing public confidence in dealing with individuals the finance industry.


Quality itself is made up of 260 questions, of which no less than 72% should be answered correctly to get a pass mark. On average, 66% of those sitting the exam obtain a pass mark, by having an average score of 73%. With the 260 questions, only 250 counts towards one further score, with the other 10 questions considered experimental questions, or practice. The cost to sit down the Series 7 license exam is often a non-refundable $265, at the time of November 2010. Check once you you could make your exam appointment to verify the fee.
Typically, to join up to the exams you will have to complete a U-4 application, which you should disclose details including previous work history, criminal convictions and other things that will affect what you can do to be effective within the finance industry as an advisor. Exams can be found daily, and you must pay your fee and hang your own personal appointment time and energy to sit the exam. Exams are sat by 50 percent consecutive 3 hour time slots, with 125 questions each.
The format in the exam is in multiple choice format, with each question using a possible four answers, without penalties for guessing. Some questions request you to talk about a reference book furnished by the testing centre, containing resources including clippings from the Wall Street Journal. A non-programmable calculator will be provided by most centers, but check when you're making your appointment, as some centers may operate differently.
Questions cover a wide range of investment areas, including:
Generating new business for the broker/dealer works with the ethics involved with contacting prospects and issues like transparency and disclosure.
Evaluating customer's financial situations and issues such as risk profile and what products or securities can help the consumer achieve their investment goals.
Technical comprehension of opening accounts, buying and selling securities, transferring assets and general best practice documentation.
Client communications; keeping investors informed about their current investments and making recommendations.
Accurately implementing client's exchange orders and following up with the customer to be sure customer happiness.
The series 7 license exam is often a required license for anybody doing work in the finance industry and is also made to protect the investing public, along with improving and enhancing industry standards.