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FINRA Series7 Exam Overview:
| Certification Vendor: | FINRA |
| Exam Name: | General Securities Representative Examination (GS) |
| Exam Number: | Series 7 |
| Passing Score: | 72% |
| Exam Duration: | 225 minutes |
| Related Certifications: | Securities Industry Essentials (SIE) Exam General Securities Representative Registration (Series 7) |
| Real Exam Qty: | 125 scored questions |
| Certificate Validity Period: | Registration remains valid while properly maintained through a FINRA member firm; qualification may lapse if registration is terminated for two or more years unless otherwise permitted by FINRA rules. |
| Available Languages: | English |
| Exam Price: | USD 300 |
| Exam Format: | Computer-based, Multiple-choice |
| Sample Questions: | FINRA Series7 Sample Questions |
| Exam Way: | Computer-based examination administered at Prometric test centers under FINRA authorization. |
| Pre Condition: | Candidates must pass the Securities Industry Essentials (SIE) Exam and be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization member to obtain the Series 7 registration. |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
FINRA Series7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 9% | - Customer acquisition and prospecting
|
| Topic 2: Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Investment products
|
| Topic 3: Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives | 11% | - Customer accounts and documentation
|
| Topic 4: Obtains and Verifies Customers' Purchase and Sale Instructions and Agreements; Processes, Completes and Confirms Transactions | 7% | - Trade execution and settlement
|
FINRA General Securities Representative Examination (GS) Sample Questions:
1. A NYSE floor member executing an order for a public customer asks the specialist in the stock to
guarantee a price while giving the customer an opportunity to obtain a better price. This procedure is
known as:
A) stopping stock
B) a special deal
C) floor protection
D) a stop order
2. Distribution from an IRA can begin at age 591/2 and must begin by age:
A) whenever the individual is retired
B) 68
C) 701/2
D) 65
3. Which of the following is not provided for by Blue Sky laws?
A) interstate mail fraud in securities offerings
B) registration of securities offered in the state
C) registration of representatives
D) registration of securities dealers
4. Which of the information below does not appear in the official notice of sale?
A) the names of underwriting syndicate members
B) the amount of required good faith check
C) the type of bond
D) the method and place of settlement
5. The Bubba Fund is a load mutual fund that offers a reinvestment plan. What does this mean?
A) no federal income taxes are paid on dividends and capital gain distributions from the fund
B) purchasers of fund shares must agree to make regular investments over a period of years
C) holders of fund shares are permitted to regularly purchase additional shares at the bid price
D) income, dividend, and capital gain distributions may be automatically used to purchase new shares of
the fund
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: D |
By Cornell
