Using Series 7 License Exam5472700

Passing the Series 7 License Exam is a requirement before anyone employed 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 given with the Financial Industry Regulatory Authority (FINRA) so they cover a broad array of investments and merchandise. To be able to take the exam, generally you must be sponsored by the registered person in FINRA, although now and again hawaii can become your sponsor a high level Registered Investment Advisor. The Best is one kind of several securities licenses that agents must hold so that you can speak with retail investors; some states require further licenses such as the Series 63 or Series 66 licenses. Account managers, analysts and advisors used by registered Brokers and Dealers hold Series 7 licenses, giving the investing public confidence when controlling people in the finance industry.

The test itself contains 260 questions, of which a minimum of 72% must be answered correctly to acheive a pass mark. An average of, 66% of the sitting the test obtain a pass mark, having an average score of 73%. With the 260 questions, only 250 counts towards one further score, together with the other 10 questions considered experimental questions, or practice. The price by sitting the Series 7 license exam is often a non-refundable $265, at the time of November 2010. Check if you you could make your exam appointment to substantiate the cost. Typically, to subscribe for the exams you will need to finish a U-4 application, on what you need to disclose details such as previous work history, criminal convictions and whatever else which could affect your ability to work in the finance industry being an advisor. Exams can be obtained daily, and also you must pay your fee and set your own appointment time to sit quality. Exams are sat in 2 consecutive 3 hour time slots, with 125 questions each. The format with the exam is in multiple choice format, with every question developing a possible four answers, without penalties for guessing. Some questions request you to talk about a reference book offered by the testing centre, that contains resources including clippings from the Wall Street Journal. A non-programmable calculator is going to be given by most centers, but check when you are making your appointment, as some centers may operate differently. Questions cover a wide range of investment areas, including: Generating new business for that broker/dealer deals with the ethics involved in contacting prospects and issues like transparency and disclosure. Evaluating customer's financial situations and issues including risk profile along with what products or securities might help the customer achieve their investment goals. Technical knowledge of opening accounts, investing securities, transferring assets and general best practice documentation. Client communications; keeping investors accustomed to their current investments and making recommendations. Accurately implementing client's trade orders and following on top of the consumer to be sure customer satisfaction. The series 7 license exam is often a required license for any person in the finance industry and is designed to protect the investing public, in addition to improving and enhancing industry standards.