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Exam Information
Official specifications published by FINRA
Exam Format
225 min
135
72%
Representative
Registration
$300 USD
Prometric
Validity
Registration remains valid while associated with a member firm
SERIES-7 Exam Topics and Domains
SERIES-7 is organized into 4 weighted domains.
1
Seeks Business for the Broker-Dealer from Customers and Potential Customers
7%
Customer Communications and Marketing
Public Communications StandardsProduct-Specific Advertisements
- Understand standards and required approvals of public communications
- Identify types of communications and their requirements
- Apply product-specific advertisement rules
New Issues and Underwriting
Primary Market ProcessIPOs and DistributionExempt Securities and Transactions
- Describe the process for bringing new issues to market
- Understand regulatory requirements for IPOs
- Identify exempt securities and transactions
2
Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives
9%
Account Types and Registration
Account TypesRetirement and Tax-Advantaged Accounts
- Inform customers of account types and restrictions
- Understand retirement plan rules and taxation
- Apply account registration requirements
Customer Information and Compliance
KYC and CIP RequirementsAccount Authorizations
- Obtain and update customer information
- Identify suspicious activity
- Understand authorization requirements
Suitability and Investment Profile
Customer Investment ProfileSuitability Obligations
- Make reasonable efforts to obtain customer profile information
- Apply suitability standards to recommendations
- Document investment objectives and risk tolerance
Account Supervision and Approval
Supervisory Requirements
- Obtain required supervisory approvals
- Understand review and documentation requirements
- Identify circumstances requiring account restrictions
3
Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records
73%
Investment Analysis and Portfolio Theory
Portfolio AnalysisFundamental AnalysisTechnical Analysis
- Apply portfolio theory to security selection
- Analyze financial statements
- Use technical indicators for market analysis
Equity Securities
Common StockPreferred StockTax Treatment of Equities
- Understand characteristics of equity securities
- Calculate returns and tax implications
- Evaluate equity investment risks
Debt Securities
Corporate BondsGovernment SecuritiesMunicipal Securities
- Understand debt security characteristics
- Calculate bond yields and prices
- Evaluate credit and interest rate risk
Investment Companies and Packaged Products
Mutual FundsETFs and UITsVariable ProductsAlternative Investments
- Compare investment company structures
- Calculate fees and expenses
- Evaluate packaged product suitability
Options
Options BasicsBasic Options StrategiesAdvanced Options StrategiesOptions Taxation
- Understand options contract specifications
- Calculate strategy profit/loss
- Apply options strategies for hedging and speculation
Customer Communications and Records
Confirmations and Statements
- Understand confirmation and statement requirements
- Apply record retention rules
4
Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions
11%
Order Types and Execution
Order TypesTrade Reporting
- Process various order types
- Understand execution requirements
- Apply trade reporting rules
Settlement and Delivery
Settlement ProceduresCorporate Actions
- Understand settlement cycles
- Process corporate actions
- Resolve delivery issues
Error Resolution and Complaints
Error Handling
- Handle trade errors properly
- Document customer complaints
- Understand dispute resolution
Margin Accounts
Margin RequirementsSpecial Margin Situations
- Calculate margin requirements
- Understand margin account restrictions
- Apply special margin rules
How do I earn this certification?
Passing SERIES-7 earns the General Securities Representative certification. It sits in the Securities Industry track.
Current Level Exams
- Series-6 - Investment Company and Variable Contracts Products RepresentativeLimited registration for mutual funds and variable products only
- Series-22 - Direct Participation Programs Representative
- Series-57 - Securities Trader Representative
- Series-79 - Investment Banking Representative
- Series-82 - Private Securities Offerings Representative
Next Level Options
- Series-24 - General Securities Principal Supervise all securities activities
- Series-9/10 - General Securities Sales Supervisor Limited supervisory activities
- Series-4 - Registered Options Principal Supervise options activities
- Series-27 - Financial and Operations Principal Chief financial officer responsibilities
Practice with Precision
The PlanetCert Simulator mirrors the real exam environment with authentic questions and timed pressure.
How to study for this exam?
The most effective way to prepare for SERIES-7 is by using the PlanetCert Simulator to practice questions and review detailed explanations.
What's changed on this exam?
Current Status
- ACTIVE
- Last content update: 2018-10-01
Who should take this exam?
Exam: Securities Industry Essentials (SIE); Must Pass: Yes; Timing: Can be taken before or after Series 7
- Basic understanding of securities markets
- Familiarity with financial calculations
- Knowledge of regulatory framework