Series 7 – General Securities Representative Exam (2024)

FAQs

How many correct answers to pass Series 7? ›

You will have 3 hours and 45 minutes to complete the exam and must correctly answer 72% (90 questions) of the 125 scorable questions to pass. The Series 7 exam, like other FINRA exams, is presented in a bell curve.

While everyone learns in a different way, there are certain steps you must take to pass the Series 7 exam. First, read the Series 7 textbook book completely and fully. Take notes and highlight the key points. Once you have completed the textbook, take as many Series 7 practice questions as you can.

The Financial Industry Regulatory Authority (FINRA) does not report on a Series 7 exam pass rate, but the Series 7 pass rate is estimated to be around 65%. With 3 hours and 45 minutes to complete 125 questions at a required score of 72%, the Series 7 exam doesn't offer a large margin for error.

The Series 7 license pass rate is around 65%. How hard is it to pass Series 7? Yes. The test is difficult, so you need to make sure you are fully prepared before you take it.

Therefore, each candidate will see a total of 135 questions (125 scored and 10 unscored). Allowed Time to Complete Exam—Candidates are allowed 3 hours and 45 minutes to complete the Series 7 exam. (The exam used to be 6 hours.) Scoring—The passing score is 72%.

The Series 7 is one of the more lengthy and intensive exams administered by FINRA. The average passing ratio of students taking the Series 7 exam is approximately 65%.

Most financial institutions will provide new hires with Series 7 study materials and will encourage them to allocate about 1 week of dedicated study time. In reality, test takers should spend close to 100 hours, of which at least 20-30 hours should be dedicated to practice exams and questions.

After the first and second failed attempts, there is a 30-day waiting period. After the third failed attempt, there is a 180-day waiting period. For any attempts after the third attempt, there is also a 180-day waiting period between each exam attempt. 3.

On the FINRA Series 7 Exam, you can expect addition, subtraction, multiplication, and division. For almost everyone that we encounter, it's not the math that is the problem. Ultimately it's deciphering what formulas to use, and what math to apply given the wording of the question.

It is said that roughly 3 out of 10 applicants will fail the Series 7 exam on their first attempt. This would put the Series 7 pass rate at around 70% first time.

How long should I study for Series 7? ›

How Long To Study For Series 7 Licensing: Recommended Study Time To Pass Your Series 7 Exam: You should plan to spend between 100-150 hours in preparing for both the SIE and Top-Off exams.

According to latest data, Series 7 license holders earn around $69,000 per year on average. This typically ranges between $50,000 to $70,000 per year for those just starting their careers with this license, though the salaries of entry-level professionals may fluctuate based on their location and specific role.

According to most students, the Series 7 is quite challenging, and is more difficult than the SIE. This might be because the Series 7 has significantly more depth in options. Also, the product questions are more application/suitability-based, whereas the SIE focuses more on the definitional treatment of products.

Some test takers fail the Series 7 exam because they spend too much time on reading and memorizing calculations and concepts. In this article that lists 7 strategies for passing the Series 7 exam, it says to balance studying between manuals and practice questions, which is sound advice for first-time exam takers.

Is the Series 7 Exam Difficult? Clocking in at 125 questions to be answered in three hours and 45 minutes, the Series 7 exam is considered the most difficult of all the securities licensing exams. The minimum passing score is 72, which may not seem that difficult.

For students who have recently completed the Series 7, this is a moderately difficult exam. The Series 65 is more challenging for students who have not completed the Series 7. It's recommended that students learn through a variety of methods, such as reading, as well as continuous practice exams.

Overall, the Series 66 is quite a challenging exam. The Series 7 difficulty level is not to be understated however. Both can be conquered with the right amount of studying. Consequently, we recommend Kaplan as the top resource for both exams.

Understanding Series 7 Options Questions. The Series 7 top-off exam typically includes 10-15 options questions. That's about 10% of the 125 questions that comprise the exam. While most options questions are straightforward, you can expect a handful to demand a higher level of options skill.