Develop A Solid Study Plan And Stick To It
The first step you should take is to create a study plan for the FINRA series 7 exam and stick to it. You need to study enough, I recommend planning on a total of 80 100 hours for those with financial background.
If you do not have a strong financial background or no experience in general, I recommend at least 150 hours of study. Try calculating how long you have till the exams and try to fix your daily studies to get the required hours.
SEE: How Long Should You Study
Most Comprehensive Offerings: Examfx
With three reasonably priced, full-featured study packages that appeal to multiple learning styles, ExamFX has the most comprehensive offerings.
Comprehensive offering of study packages to match learning styles
Reasonably priced, full-featured packages
Course access limited to 90 days
Founded in 1996, ExamFX is a division of Ascend Learning, one of the top technology-based learning solutions providers in the country. ExamFX has combined leading-edge technology with proven adaptive learning methods in three full-featured study packages to create the most comprehensive offering at a reasonable price.
ExamFX appeals to multiple learning styles by offering a self-study package , a video study package , and a live online package . All packages include an interactive learning portal, online exam simulations, a readiness exam, instructor support, and a guarantee exam that qualifies users for ExamFX’s money-back guarantee.
The video study package adds on-demand video lectures and online flashcards. The live online package includes all the features of the lower-priced packages but adds live online training.
ExamFX’s best feature is the simulated online exams, which give students many opportunities to make sure they are prepared. The packages give an unlimited number of practice exams.
Series 7 Top Off Exam
The Series 7 Podcast exam Audio Lesson prep packages provide all the necessary tools to help you prepare, practice, and perform on the New Series 7 Top Off Exam, General Securities Representative Examination . We offer an audio approach for exam prep you can use whatever the audio lessons needed to best suit your learning style and schedule to reinforce concepts used in the financial services industry.
Are you preparing for more than just the Series 7 Exam? If you are and you commute or exercise our audio lessons for the new series 7 examination could help you.
Take a look at our Testimonials
This is the most comprehensive audio study package available, the Series 7 Exam Audio Lesson Instruction Package, has everything you need to effectively prepare for your qualification exam in a audio format. However unless you have perfect total audio recall we recommend that you also study text take practice quizzes and use other learning methods to solidify your knowledge of the new series seven exam. Start your exam preparation by listening to bite sized audio lessons and to schedule daily audio lessons based on your study time frame and exam date.Here is what our audio lessons include:
Read Also: 4 Parts Of Cpa Exam
Should I Get My Series 7
If you want to work anywhere in the securities industry, you should get your Series 7 license. While the most commonly known reason for obtaining a Series 7 license is to become a registered representative, anyone who wants to work for an investment bank, broker-dealer, or securities firm in just about any capacity would be well-served to obtain a Series 7. That includes working on the regulatory side of the business, equity research, or back-office operations.
To that extent, having a Series 7 license can make you more marketable if you are seeking work in the financial industry.
What Is The Pass Rate Of The Series 7 Exam
While FINRA doesn’t publish a pass rate for the Series 7 exams, it is widely accepted to be around 65%. Regardless, the most reliable indicators of passing rates are those published by exam prep providers. As you have seen in this article, some of them are above 90%. All the providers listed in this review have a pass rate of at least 85% or, if no pass rate is published, they offer a money-back guarantee.
People who do fail the test on their first attempt tend to do better on their second attempt. If you fail on your first attempt, you are allowed to retake the test after 30 days. The 30-day wait rule also applies if you fail on the second attempt. If you fail again on your third attempt, you will have to wait 180 days to retake the exam.
Recommended Reading: How Much For An Eye Exam
Best User Experience: Knopman Marks
Although Knopman Marks offers just one exam-prep package, its comprehensiveness and easy-to-follow format provide students with the best exam prep user experience.
High first attempt passing rate
Mobile app for offline training
Limited course package offering
No money-back guarantee
Established in 1991 by Harvey Knopman, a 40-year veteran in the securities training industry, Knopman Marks has earned a reputation for developing and delivering high-quality exam prep courses. What it lacks in course options, it makes up for with a comprehensive and easy-to-follow single course that provides users with an excellent user experience, as evidenced by its 95% passing rate.
For $350, students receive both a physical and an electronic textbook. The course includes online and printable practice exams that come with rationales and textbook references. There are more than 15 hours of video lectures covering 20 lessons and digital flashcards. Students also have access to downloadable study supplements. There is even a mobile app for offline training. It all seems overwhelming, but Knopman also provides a step-by-step study guide.
Students also receive personalized attention from instructors which includes updates, tips, and more.
For another $225, students can take as many in-person or virtual classes as needed. Classes are scheduled roughly once a month.
Free Series 7 Sample Exam Questions
- 10 multiple choice answers
- 72% mark is needed to pass
- Attempt all the questions.
- Do not use the browser back button while doing this test.
- The timer of the exam will not stop once the exam starts.
- IMPORTANT! Remember to click the ‘Finish Exam’ link at the bottom of the page once you complete the whole exam. Clicking this link before you finish the whole exam will end your exam session.
Recommended Reading: Nys Notary Exam Study Guide
Training Consultants Series 7 Exam Prep Course
Training Consultants offers an extensive review course with several options for online learning at a self-paced or live webinar format. They also incorporate mobile support for phones and tablets, so you can take digital flashcards with you on the go.
One nice feature of Training Consultants is that their content is updated in real time. This means that youre always provided the most up-to-date information when using their platform. Unfortunately, one major drawback to this course is its overall design youre probably going to have difficulty finding exactly what youre looking for. Because of this and some other nagging issues such as an above-average price its just not a great choice when compared to STC.
Best Value: Securities Institute Of America
With the backing of leading financial publisher John Wiley & Sons, Securities Institute of America not only produces high-quality courses, but they also create the best value, with a lineup of reasonably priced courses that cater to any learning style.
Reasonably priced course package for any learning style or budget
Live chat and phone support
Backed by renowned financial publisher John Wiley & Sons
Question bank may not be the biggest
No live content
With its lineup of reasonably priced, high-quality course packages offered with a money-back guarantee, Securities Institute of America is the best value among exam prep providers. With a proven 17-year track record of exam prepping, renowned financial publisher John Wiley & Sons thought highly enough of SIA to acquire them in 2013. That gives SIA the industry heft needed to provide high-quality products at reasonable prices.
The best study package SIA offers is its Series 7 Complete Self Study Solution for $259. The package includes the popular Wiley Series 7 exam textbook, a 2,100-question practice exam bank, 20 hours of online video classes, and an ebook. The videos and test bank are available for six months.
If you don’t need the online video course, you can pay $194.95 for the Series 7 Textbook and Exam Prep Software with unlimited access to the test bank for six months. The software allows you to take practice exams anytime and anywhere using any browser on PC and Mac as well as on mobile devices.
Read Also: Cost Of Lenscrafters Eye Exam
Series 7 Practice Exam Quizzes
Lesson 1 Introduction 18 45 No Quiz
Lesson 2 Section 1 Communication and Correspondence 29 4
Lesson 3 Section 1 Rankings, Volatility Ratings CMOs 31 22
Lesson 4 Section 1 Option Communication and Disclosures 24 27
Lesson 5 Section 1 Securities Act of 1933 35 56
Lesson 6 Section 1 Securities Exchange Act of 1934 40 14
Lesson 7 Section 1 MSRB Advertising, FINRA Rules 17 41
Lesson 8 Section 1 FINRA Rules 8 51
Lesson 9 Section 1 MSRB Rules 38 3
Lesson 10 Section 1 Underwritings 28 13
Lesson 11 Section 1 Reg A+, Reg D, 144 18 35
Lesson 12 Section 2 Accounts 30 11
Lesson 13 Section 2 IRA 40 41
Lesson 13a 2020 IRA Changes IRA 29 06
Lesson 14 Section 2 Keogh Plans 30 58
Lesson 15 Section 2 SEP IRA Def Benn 28 40
Lesson 16 Secton 2 Acccounts 14 49
Lesson 17 Section 3 Know your Customer 30 46
Lesson 24 Section 3 Stock Fundamental Analysis pt. 1, Balance Sheet pt. 1 31 22
Lesson 25 Section 3 Stock Fundamental Analysis pt. 2, Balance Sheet pt. 2 25 37
Lesson 26 Section 3 Stock Fundamental Analysis pt. 3, Balance Sheet pt. 3 36 54
Lesson 27 Section 3 Stock Fundamental Analysis pt. 4 Income Statement pt. 1 33 55
Lesson 28 Section 3 Stock Fundamental Analysis pt. 5 Income Statement pt. 2 32 54
Lesson 29 Section 3 Stock Fundamental Analysis pt. 6 Income Statement pt. 3 28 25
Lesson 30 Section 3 Stock Fundamental Analysis pt. 7 Cash Flow Statement pt. 1 17 9
Lesson 31 Section 3 Stock Fundamental Analysis pt. 8 Cash Flow Statement pt. 2 23 38
Lesson 34 Section 3 Technical Analysis 18 53
How Useful Is The Series 7
As Ive alluded to, you should know that the Series 7 is widely perceived by employers as irrelevant for the actual day-to-day work of their finance professionals. Ben Affleck captured this sentiment in a his famous and totally NSFW speech to his fresh crop of finance bros in the movie Boiler Room:
Remember, this is NSFW. Many many f-bombs.
Also Check: Does Bcbs Cover Eye Exams
Rome Wasnt Built In A Day
Remember that incredible things take time. And just like ancient monuments took years of effort, certification is not easy. It is not always quick either. But it is worth it! Our toolset allows you to engage with an incredible community of expert tech workers and add to the conversation at ExamTopics. If you have questions, dont forget to leave a comment and reach out. Its here that youll get personalized help unheard of on test prep sites, without the outrageous fees.
Best Overall: Securities Training Corporation
Securities Training Corporation
The combination of a high-quality study package for every need and budget, a responsive instructor hotline, and a money-back guarantee makes Securities Training Corporation our choice as the best overall exam prep provider.
Top package is a little on the pricey end
Securities Training Corporation was one of the first companies to offer exam prep courses back when securities exams were first introduced in 1969. Since then, it has strived to be the industry leader. By adding a money-back guarantee to its offering of high-quality study packages, along with responsive instructor support, STC makes our list as the best overall exam prep provider.
Starting at $225, STC’s base study package is as fully loaded as some other providers’ premium packages. The enrollment, valid for six months, includes both online and printed study manuals, access to an instructor hotline, 24/7 tech support, and final exams. It also features Crunch Time Facts, which summarize the “must-know” facts by chapter from the study manual.
For $395, students can add on-demand lectures and online flashcards. The flashcards, which can be organized by course, chapter, or FINRA exam sections, allow students to test their knowledge and focus on areas of weakness. This package also comes with the pass guarantee and additional exams.
Finally, for $475, students can add live virtual or in-person classes. The package also includes weekly instructor-led question-and-answer sessions.
You May Like: Massage Exam Practice Test Free
Best Mobile Learning Experience: Achievable
As a fairly recent startup based in San Francisco, Achievable has taken a high-tech approach to delivering an exam prep course by creating a best-in-class mobile learning experience.
No online virtual learning
Limited instructor support
San Francisco-based Achievable was founded in 2016, which is relatively recent compared to its competitors. What Achievable lacks in actual video or audio content , it makes up with its mobile-first platform that allows for studying on-the-go. For students who prefer to study wherever and wheneverduring a commute, during lunch, while in bed, etc.Achievable is your best option.
Achievable offers just one Series 7 exam prep course that includes an online textbook, flashcards, review questions, and full-length mock exams for only $149 and good for one year. Their practice exams are randomized, pulling from a question bank so large, you can take 25+ exams without seeing a duplicate question. While it doesn’t offer a video course, Achievable does sprinkle videos throughout the textbook material to reinforce key concepts or provide a visual explanation of complicated topics.
Achievable applies a learning science using algorithms to optimize students’ study schedule by focusing on problem areas while pushing students further to learn new concepts. Students are quizzed continuously, making it easier to remember information while keeping them motivated as they see their performance improve.
What Is The Series 7 Focused On
The Series 7 or as its also known, the General Securities Representative Qualification Examination , like all tests, there is a bit of freedom on FINRA’s part to exam an array of subjects. That means knowing the majority of Series 7 content is required because they test randomly on the many subjects available. Be aware too that experience requirements often exist because theyve observed the average person and what is required. You can always push past that to succeed with the Series 7 but it may take some extra work.
You May Like: Lens Crafter Eye Exam Cost
Training Consultants Pros & Cons
- Regular Updates: One nice feature of Training Consultants is that their content is updated in real time. This means that youre always provided the most up-to-date information when using their platform.
- Confusing Design: Unfortunately, one major drawback to this course is its overall design youre probably going to have difficulty finding exactly what youre looking for. Because of this and some other nagging issues such as an above-average price its just not a great choice when compared to STC.
Series 7 Exam Scoring
The passing score for the Series 7 Exam is 72%. The test is scored by an equating scale, which accounts for slight variations of difficulty that could occur due to the different sets of exam questions created for candidates. This way, there is a fair comparison of scores and holds each candidate to the same standard.
FINRA doesnt release specific pass/fail information, but on average the pass rate is around 65%. This is considerably lower than other exams, like the Series 63 which averages an 86% passing rate. This is why its recommended to put in many hours of studying, reviews, and practice exams.
Don’t Miss: Medication Aide Practice Exam 2021
How We Chose The Best Series 7 Exam Prep Courses
Using some baseline criteria like cost, pass rates, money-back guarantee offers, and operating history, we narrowed the field to 15 that we reviewed more thoroughly. From there, we sought to view the providers through the eyes of different types of students and their considerations for the ideal provider.
We know many students are looking for providers offering the best overall value. Some students gravitate toward the premium packages but want one that won’t break the bank. Others look for the most comprehensive package they can get for their money. An increasing number of students are more attuned to the technology available, primarily through mobile applications. Finally, everyone wants to know which provider is the best overall. So that’s how we measured the 15 providers and came up with the best in each category.
Series 7 & : Ondemand Class
Learn from expert instructors with in-depth videos covering the major topics of the qualification exam. Our OnDemand class allows you to prepare at recommended times during your study program. You are given access to review classes at any time and as often as you like.
Please note: The online access period for your securities licensing course is 5 months. Additional 5 month extension may be purchased to extend your study time for $49. The extension can be ordered from the Extension icon on your Student Dashboard.*Midterm Exam is only included in select Series Exam Preparation Packages.
You May Like: Basic Network Connectivity And Communications Exam
Is The Series 7 Exam Difficult
Clocking in at 125 questions to be answered in three hours and 45 minutes, the Series 7 exam is considered the most difficult of all the securities licensing exams. The minimum passing score is 72, which may not seem that difficult. But the scope of the exam is far-reaching, covering the entire array of securities products and rules governing customer accounts. The questions, which tend to be lengthy with detailed information, are designed to challenge a candidate’s understanding of a concept, which is why the practice exams are so important.