Series 7 – General Securities Representative Practice Exam
Series 7 – General Securities Representative
About Series 7 – General Securities Representative Certification
The Series 7 exam — the General Securities Representative Qualification Examination (GS) — assesses the competency of an entry-level registered representative to perform their job as a general securities representative.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities.
Who should take the exam?
The Series 7 General Securities Representative Exam is considered an “entry-level examination” and serves as a prerequisite for many of the subsequent FINRA exams. Those who succeed in passing the exam become qualified to purchase and/or sell various kinds of securities, including corporate bonds and stocks, investment company products and municipal fund securities. The exam takes six hours to complete (with a break in the middle) and consists of 250 multiple-choice questions.
Course Structure
The FINRA Series 7 – General Securities Representative Exam covers the following topics -
1. Seeks Business for the Broker-Dealer from Customers and Potential Customers 7%
• Contacts current and potential customers in person and by telephone, mail and electronic means; develops promotional and advertising materials and seeks appropriate approvals to distribute marketing materials
• Describes investment products and services to current and potential customers with the intent of soliciting business
2. Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives 9%
• Informs customers of the types of accounts and their appropriateness and provides disclosures regarding various account types and restrictions
• Obtains and updates customer information and documentation, including required legal documents and identifies and escalates suspicious activity
• Makes reasonable efforts to obtain customer investment profile information including, but not limited to, the customer's other security holdings, financial situation and needs, tax status and investment objectives
• Obtains supervisory approvals required to open accounts
3. Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records 73%
• Provides customers with information about investment strategies, risks and rewards, and communicates relevant market, investment and research data to customers
• Reviews and analyzes customers' investment profiles and product options to determine suitable investment recommendations
• 3 Provides appropriate disclosures regarding investment products and their characteristics, risks, services and expenses
• Communicates with customers about account information, processes requests and retains documentation
4. Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions 11%
• Provides current quotes
• Processes and confirms customers’ transactions pursuant to regulatory requirements and informs customers of delivery obligations and settlement procedures
• Informs the appropriate supervisor and assists in the resolution of discrepancies, disputes, errors and complaints
• Addresses margin issues
Exam Pattern
- Exam Name: General Securities Representative
- Exam Code: Series 7
- Number of Questions: 125
- Length of Time: 3hour 45 Minutes
- Registration Fee: $245
- Passing Score: 72
- Exam Language English
What do we offer?
- Full-Length Mock Test with unique questions in each test set
- Practice objective questions with section-wise scores
- An in-depth and exhaustive explanation for every question
- Reliable exam reports evaluating strengths and weaknesses
- Latest Questions with an updated version
- Tips & Tricks to crack the test
- Unlimited access
What are our Practice Exams?
- Practice exams have been designed by professionals and domain experts that simulate real time exam scenario.
- Practice exam questions have been created on the basis of content outlined in the official documentation.
- Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
- Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
- You can also create your own practice exam based on your choice and preference
100% Assured Test Pass Guarantee
We have built the TestPrepTraining Practice exams with 100% Unconditional and assured Test Pass Guarantee!
If you are not able to clear the exam, you can ask for a 100% refund.
