What IQ Do You Need for the Series 7? About 115, More or Less
In this blog post, we talk about what IQ do you need for the Series 7, as I use things like my CPA exam IQ reference blog post as an example, sources relating to the statistics of one’s IQ with a finance degree, and a whole lot of personal experience with this and other related finance exams.
My general take on the subject is that in order to pass your Series 7 exam, you need to be able to get sponsored by a Wealth Management firm, meaning you’ll need a BA in Finance, which holds an average IQ of somewhere around 115 to 120 in the major. You’ll also have to pass the rigorous Series 7 exam in order to hold yourself out as a broker and a Series 7 licensee, which is indeed no joke. I would consider myself very bright and especially so in the field of finance, yet the Series 7 has a lot of compliance and regulations in it, which really took me for a ride in certain areas. Some of the hardest sections especially on the test were the Municipal bonds, the Options, and the general SEC regulations which took me a little bit by storm. And so, in this blog post, lets look at the question of What IQ do you need for the Series 7, and why you’ll likely need at least a 115 IQ. For more information, read on or subscribe to our blog for additional details and information.
Other exams in the field of Finance that you will need a 115+ IQ for include:
The CPA Exam
The CFA exam
Any MBA or Masters Program
The Enrolled Agent Exam
The 2-15 Insurance License
The 2-20 Property and Casualty Exam
The Series 63 Exam
And a host of other licenses in the field of finance, read on or subscribe to our blog for additional details and information.
What IQ Do You Need for Series 7 Exam? Why the 115 to 120 Range is Best
So, once again I am saying that somewhere in the range of 115 to 120 or higher (not too many people with an IQ of 145 entering the field of finance) is likely going to be your sweet spot for passing the Series 7 exam, and especially on the first exam. To give you an example of how hard it is, I work in an office with like 25-30 financial advisors, all of them extremely well educated, and all of them now millionaires.
Only a small handful of them passed their series 7 on the first attempt (my branch manager once said that he can name on one hand the number of advisors that passed that thing on the first attempt.) So it is definitely a hard test, and people generally don’t study for it enough and take it as seriously as they really should in order to pass it on the first attempt, especially given the fact that your job is potentially on the line for not passing the exam enough times. My advice to anyone about to take the Series 7 exam, or any of these securities licensing exams for that matter, is to not take the exam until you are getting an 80 to 85% consistently on the practice test. Otherwise, you are setting yourself up for failure, the exam is too hard and too fast to take without proper preparation, especially with office politics on the line.
What IQ Do You Need for the SIE, 7, 66 and 2-15 License Exams, Why The 120 Range is the Sweet Spot
So, as stated in the former, an IQ in the range of 115 to 120, but at least a 115 IQ is likely needed to pass these FINRA exams. The Series 7 exam is like taking 3 finance final exams all combined into one exam, and is definitely not to be taken lightly. Every single time we get some new hotshot kid in the room that thinks he can pass the exam in 1-3 weeks always makes himself look like a fool, especially when they fail it the first time, or have to postpone twice, or brag that they are going to get a 100% on the exam and barely get a 72% and pass. Take it seriously, be humble about it, and I’d say have a health anxiety about the test in order to pass on your first attempt. Treat it like you’re a law student studying for the bar exam, and like your job depends on it, and you will pass on the first try.
How to Pass the Series 7 Exam on Your First Try
So, my test taking strategy for all of these securities licensing exams was the below.
- Read the textbook cover to cover
- Take all quizzes in the book and in the online source chapter by chapter.
- Start practice testing over and over again until you get 80 to 85% on each practice test.
And vooila, you do all of that and you will pass the Series 7 exam hands down every single time!
Final Thoughts on the IQ Needed for the Series 7, How Hard is it to Pass The Series 7 Exam?
So that is the gist of how you can pass the Series 7 exam on your first attempt, and of what IQ is needed for the Series 7 exam. I would say with an immense amount of hard work, someone with say a 110 or even a 100 IQ could pass the exam, but in reality you are going to need something like a 115 to 120 IQ in order to pass the exam. For more information, be sure to comment down below and to subscribe to our blog for additional details and information.
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