What’s Included in the Series 7 Exam?
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
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📘 What’s Included in the Series 7 Exam?
The Series 7 Exam—officially known as the General Securities Representative Qualification Exam—is one of the most comprehensive and widely recognized FINRA licensing exams. It qualifies individuals to trade a broad range of securities and is essential for those pursuing a career as a registered representative in the U.S.
📋 Series 7 Exam Overview
- 🧪 Number of Questions: 125 multiple-choice
- ⏱️ Time Limit: 225 minutes (3 hours, 45 minutes)
- ✅ Passing Score: 72%
- 💼 Prerequisite: Must pass the SIE Exam and be sponsored by a FINRA-member firm
🧠 Main Content Areas
| Section | Description | % of Exam |
|---|---|---|
| 1. Seeks Business for the Broker-Dealer from Customers and Potential Customers | Prospecting, customer screening, opening accounts | 7% |
| 2. Opens Accounts After Obtaining and Evaluating Customer’s Financial Profile | KYC, financial profiling, risk tolerance, account types | 9% |
| 3. Provides Customers with Information About Investments and Makes Suitable Recommendations | Investment products, suitability, tax considerations, recommendations | 73% |
| 4. Obtains and Verifies Customer Purchase and Sales Instructions and Agreements; Processes Transactions | Order types, settlement rules, confirmations, compliance | 11% |
💹 Types of Securities Covered
- 🟢 Stocks & Bonds
- 🟠 Mutual Funds & ETFs
- 🔵 Options (Calls & Puts)
- ⚫ REITs & Alternative Investments
- 🟣 Government and Municipal Securities
- 🟡 Variable Annuities and Insurance Products
📜 Regulations and Compliance
- FINRA Rules
- SEC Regulations
- Suitability & Best Interest Standards
- Anti-Money Laundering (AML)
- Privacy, Risk Disclosure, and Recordkeeping
📈 Key Skills Tested
- Identifying customer needs and financial goals
- Recommending suitable investment strategies
- Explaining product risks and features
- Understanding tax treatment of investments
- Processing trades accurately and compliantly
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