Series 7 General Securities Representative Qualification Examination (GS)
Last Update April 2, 2025
Total Questions : 400
Our General Securities Representative Series-7 exam questions and answers cover all the topics of the latest Series 7 General Securities Representative Qualification Examination (GS) exam, See the topics listed below. We also provide FINRA Series-7 exam dumps with accurate exam content to help you prepare for the exam quickly and easily. Additionally, we offer a range of FINRA Series-7 resources to help you understand the topics covered in the exam, such as General Securities Representative video tutorials, Series-7 study guides, and Series-7 practice exams. With these resources, you can develop a better understanding of the topics covered in the exam and be better prepared for success.
| Exam Name | Series 7 General Securities Representative Qualification Examination (GS) |
| Exam Code | Series-7 |
| Actual Exam Duration | The duration of the FINRA Series-7 Exam is 225 minutes (3 hours and 45 minutes). |
| Expected no. of Questions in Actual Exam | 249 |
| What exam is all about | The FINRA Series 7 exam is a licensing exam for individuals who want to become registered representatives and sell securities products. The exam covers a wide range of topics related to the securities industry, including investment products, securities regulations, and ethical practices. Passing the Series 7 exam is a requirement for individuals who want to work in the securities industry and is often a prerequisite for other licensing exams. |
| Passing Score required | The passing score required in the FINRA Series-7 exam is 72%. This means that a candidate must correctly answer at least 72 out of 100 questions in order to pass the exam. The exam consists of 125 multiple-choice questions, and candidates are given 3 hours and 45 minutes to complete it. The exam covers a wide range of topics related to securities trading, including investment products, regulations, and ethical practices. Candidates must also pass a background check and meet other eligibility requirements before they can take the exam. |
| Competency Level required | I can provide you with the information that the FINRA Series-7 Exam is a professional licensing exam for individuals who want to become registered representatives and sell securities products. The exam tests the candidate's knowledge of securities industry rules, regulations, and practices, as well as their ability to analyze and evaluate investment products. The competency level required for the exam is high, as it covers a wide range of topics, including equity securities, debt securities, options, mutual funds, and investment banking. Candidates must have a strong understanding of financial markets, economics, and accounting principles to pass the exam. |
| Questions Format | The FINRA Series-7 exam consists of multiple-choice questions. The exam includes 125 questions, and candidates have 225 minutes to complete it. The questions are designed to test the candidate's knowledge of securities industry rules and regulations, investment products, and ethical practices. The exam covers a wide range of topics, including equity securities, debt securities, options, mutual funds, investment banking, and financial analysis. The questions are designed to be challenging, and candidates must demonstrate a thorough understanding of the material to pass the exam. |
| Delivery of Exam | The FINRA Series-7 exam is a computer-based test that is delivered through a network of testing centers across the United States. The exam consists of 125 multiple-choice questions and is designed to test the knowledge and skills of individuals who wish to become registered representatives in the securities industry. The exam covers a wide range of topics, including investment products, securities markets, regulatory requirements, and ethical considerations. Candidates have 3 hours and 45 minutes to complete the exam, and a passing score is 72%. |
| Language offered | The FINRA Series-7 Exam is offered in English language. |
| Cost of exam | $300 |
| Target Audience | The FINRA Series-7 exam is designed for individuals who want to become registered representatives and sell securities products. The target audience for this exam includes: 1. Individuals who want to work in the securities industry as registered representatives, including those who want to work for broker-dealers, investment banks, or other financial institutions. 2. Individuals who want to become financial advisors or investment advisors and need to pass the Series-7 exam to register with the SEC or state securities regulators. 3. Individuals who want to advance their careers in the securities industry and need to pass the Series-7 exam to qualify for promotions or new job opportunities. 4. Individuals who want to demonstrate their knowledge and expertise in securities products and regulations to clients and employers. Overall, the Series-7 exam is intended for individuals who want to work in the securities industry and sell securities products to clients. |
| Average Salary in Market | According to Glassdoor, the average salary for a financial advisor with a Series 7 certification is around $70,000 to $80,000 per year. However, salaries can vary depending on factors such as location, experience, and the type of firm you work for. |
| Testing Provider | You can contact FINRA or a registered broker-dealer to inquire about taking the exam. |
| Recommended Experience | I can provide you with the recommended experience for FINRA Series-7 exam, which is as follows: FINRA recommends that candidates have at least four to six months of experience in the securities industry before taking the Series 7 exam. This experience should include a strong understanding of securities products, markets, and regulations. Additionally, candidates should have a solid understanding of financial analysis, investment strategies, and risk management. It is also recommended that candidates have a bachelor's degree in finance, economics, or a related field. |
| Prerequisite | I can provide you with the information that the prerequisite for the FINRA Series-7 exam is to be sponsored by a FINRA member firm. Additionally, candidates must pass the Securities Industry Essentials (SIE) exam before taking the Series-7 exam. |
| Retirement (If Applicable) | I can tell you that the FINRA Series-7 exam is a licensing exam for individuals who want to become general securities representatives. The exam is administered by the Financial Industry Regulatory Authority (FINRA) and covers a wide range of topics related to the securities industry, including investment products, regulations, and ethical practices. The exam is not expected to retire anytime soon, as it is a crucial requirement for individuals who want to work in the securities industry. |
| Certification Track (RoadMap): | I can provide you with information about the certification track/roadmap for the FINRA Series-7 exam. The FINRA Series-7 exam is a certification exam for individuals who want to become registered representatives and sell securities products. The certification track/roadmap for the FINRA Series-7 exam typically involves the following steps: 1. Meet eligibility requirements: To take the Series-7 exam, you must be sponsored by a FINRA member firm and meet certain eligibility requirements, such as being at least 18 years old and not having any disqualifying criminal or regulatory history. 2. Study for the exam: The Series-7 exam covers a wide range of topics related to securities products and regulations. To prepare for the exam, candidates typically study using FINRA-approved study materials and may also attend training courses or work with a mentor. 3. Pass the exam: The Series-7 exam is a 125-question multiple-choice exam that must be completed within 3 hours and 45 minutes. To pass the exam, candidates must score at least 72%. 4. Register with FINRA: Once you pass the Series-7 exam, you must register with FINRA as a registered representative and become associated with a FINRA member firm. 5. Continuing education: To maintain your Series-7 certification, you must complete continuing education requirements, including periodic training and exams. Overall, the certification track/roadmap for the FINRA Series-7 exam involves meeting eligibility requirements, studying for and passing the exam, registering with FINRA, and completing continuing education requirements. |
| Official Information | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
| See Expected Questions | FINRA Series-7 Expected Questions in Actual Exam |
| Take Self-Assessment | Use FINRA Series-7 Practice Test to Assess your preparation - Save Time and Reduce Chances of Failure |
| Section | Weight | Objectives |
|---|---|---|
| Function 1: Seeks Business for the Broker-Dealer fromCustomers and Potential Customers | 1.1 Contacts current and potential customers in person and by telephone, mail and electronic means;develops promotional and advertising materialsand seeks appropriate approvalsto distribute marketingmaterials 1.2 Describes investment products and services to current and potential customers with the intent of soliciting business |
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| Function 2: Opens Accounts AfterObtaining and Evaluating Customersâ Financial Profileand Investment Objectives | 2.1 Informs customers of the types of accounts and provides disclosures regarding various account types and restrictions 2.2 Obtainsand updates customer information and documentation, including requiredlegal documents and identifiesand escalates suspicious activity 2.3 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 2.4 Obtains supervisory approvals required to open accounts |
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| Function 3: Provides Customers with Information AboutInvestments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records | 3.1 Provides customers with information aboutinvestment strategies, risks and rewards, and communicates relevant market, investment and research data to customers 3.2 Reviews and analyzes customers' investment profiles and product options to determine thatinvestmentrecommendationsmeet applicable standards 3.3 Provides requireddisclosures regardinginvestment productsand their characteristics, risks, servicesand expenses 3.4 Communicates with customersaboutaccount information, processes requests and retains documentation |
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| Function 4: Obtains and Verifies Customersâ Purchase and Sales Instructionsand Agreements; Processes, Completes and Confirms Transactions | 4.1 Providescurrent quotes 4.2 Processes and confirms customers’ transactions pursuant to regulatory requirements and informs customers of delivery obligations and settlement procedures 4.3 Informs the appropriate supervisor and assists in the resolution of discrepancies, disputes, errors and complaints 4.4 Addresses margin issues |
TESTED 03 Apr 2025
