You should plan to spend between 100 150 hours in preparing for both the sie and top off exams. 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.
Registering on or after october 1 2018 the exam will be significantly shorter.
How long does it take to get a series 7. Ideally you want to go in to the exam with practice test scores in the mid to low 80 range. Registration before october 1 2018 the series 7 was a beast of an exam. The exam consists of 125 multiple choice questions and you have 3 hours and 45 minutes to complete it.
Individuals who want to enter the securities industry to sell any type of securities must take the series 7 examination formally known as the general securities representative examination. You can purchase study guides and take practice exams leading up to the real examination. On october 1 2018 finra restructured the series.
It s probably clear that how long to study for the series 7 top off exam will vary for everyone. Overall most people will need between 1 5 to 2 months. 6 hours long with 250 multiple choice questions covering general financial knowledge as well as product specific knowledge.
The series 7 alone lasts six hours so you should take a few full length practice exams to improve your stamina. Individuals who pass the series 7 examination are eligible to register to trade all securities products including corporate securities municipal fund. Recommended series 7 pre licensing courses.
The following table shows the major job functions covered by the exam 1 through 4 with the associated number of questions. The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative including. Recommended study time to pass your series 7 exam.
Study for the series 7 exam once you find someone who is willing to sponsor you. If you don t have pressure from your boss then take as much time as you need. Take the series 7 exam to obtain your license.
A common pitfall is to try to memorize answers but a better strategy is to focus on concepts. The finra series revised 7 general securities representative qualification top off exam is required of individuals soliciting the purchase or sale of corporate municipal and u s. Before you can begin selling securities you will have to pass this exam.
If you just memorize a rule you may have trouble applying it to novel hypotheticals. Understanding why the rule exists will help you. How long to study for series 7 licensing.
Exam preparation and review courses go a long way toward helping you pass your series 7 exam the first time. Series 7 exam details. The series 24 exam the general securities principal qualification exam gp assesses the competency of an entry level principal to perform their job as a principal dependent on their corequisite registrations.
3 hours and 45 minutes with 125 multiple choice questions. A series 7 license requires you to take and pass both the finra sie exam and the series 7 top off course. Government securities options direct participation programs investment company products and variable contracts.
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a principal including the rules and statutory provisions.