Is The Series 7 Exam Hard?
The answer to this question depends on who you ask. Some people find the exam to be challenging, while others find it to be relatively easy. There is no right or wrong answer, as everyone has different levels of experience and knowledge. Ultimately, it is up to the individual to decide how difficult they feel the exam is. I personally passed the exam on the first attempt and found it EXTREMELY difficult even with this being the case. And so in this blog post, we answer the question of is the Series 7 exam hard.
What Is The Series 7 Exam?
The Series 7 exam is a general securities representative examination that is administered by the Financial Industry Regulatory Authority (FINRA). It is also commonly referred to as the General Securities Representative Examination.
The Series 7 exam tests an individual’s knowledge of the securities industry, including concepts such as types of products, their features, and risks. The exam is typically around 180 questions long and can last for several hours.
What Is A Sample Question For The Series 7?
Describe the three types of customer accounts that a broker-dealer must maintain.
The three types of customer accounts that a broker-dealer must maintain are cash, margin, and option accounts.
A cash account is a customer account in which the customer pays the full amount of the purchase price of securities
*A better one is a basic options question, which you will see quite a bit of on the Series 7 exam, with it being as much as 30% of the entire exam setup.
Phil buys an XYZ October 85 call option at 18. XYZ stock sits at 54. What is the break even point of the stock?
You can ignore the XYZ being priced at 54 because it doesn’t matter what it is priced at in finding the break even point. Break even point means you need to profit the $18 you paid for the contract in order to break even, so in this case XZY needs to be priced at 103 for the break even point.
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Is The Series 7 Exam Hard Reddit Questions? Let’s Ask Reddit About The Series 7 Exam
How difficult was the Series 7 for you?
I found the Series 7 to be EXTREMELY difficult, even though I passed it on the first try. It is a very long exam and covers a lot of material.
Did you find the questions on the Series 7 to be difficult?
I found the questions on Kaplan to be not as difficult as the actual exam. The difficulty level of the questions on the actual exam seemed to be a lot higher.
Do you think the Series 7 is a difficult exam?
I think the Series 7 is a difficult exam, but it is manageable if you study and prepare for it properly.
What do you think about the Series 7 exam?
I think the Series 7 exam is difficult, but it is a necessary part of becoming a financial advisor. It tests your knowledge of the securities industry and allows you to become registered with FINRA.
The consensus seems to be that the Series 7 exam is a difficult exam, but it is manageable if you study and put the hours in.
Is The Series 7 Exam Multiple Choice?
The Series 7 exam is a multiple-choice exam. There are typically around 180 questions on the exam, which can last for several hours.
What Is The Pass Rate For The Series 7 Exam?
The pass rate for the Series 7 exam is around 65%.
This means that around 65% of people who take the exam pass
Is The Series 7 Exam Curved?
Yes, the Series 7 exam is curved.
This means that the passing score is based on the performance of all the people who take the exam.
What Is The Passing Score For The Series 7 Exam?
The passing score for the Series 7 exam is 70%.
This means that you need to get at least 70%
How Often Is The Series 7 Exam Offered?
The Series 7 exam is offered every Monday-Saturday.
What Is The Best Way To Study For The Series 7 Exam?
There is no one “best” way to study for the Series 7 exam. However, studying with a group or taking a review course are generally considered to be good ways to prepare for the exam.
Series 7 Exam Eligibility, How To Become Eligible to Take The Series 7 Exam?
In order to become eligible to take the Series 7 exam, you must first be sponsored by a FINRA member firm.
You must also have completed your registration with FINRA.
You can find more information on the Series 7 exam and how to become eligible to take it here:
Final Thoughts On Series 7 Exam Difficulty, It Is Tough But Also Manageable
The Series 7 exam is definitely a difficult exam. However, it is also manageable if you study and prepare for it properly. There are a number of resources available to help you prepare for the exam, including review courses and study groups. If you put in the time and effort, you should be able to pass with flying colors, so work hard and have fun, you only get to pass your Series 7 one time! (Hopefully.)
Cheers!
*Inflation Hedging.com
Sources:
finra.org
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