Has anybody taken the series 7 test. Im about to take mine in a couple of months and I was wanting some tips if anybody has any.
Posted by Schwabie on :
i take mine in 6 months lol
Posted by POOLBOY on :
Schwabie who is your sponsor co.?
Posted by HossTrader on :
I took it a while ago. No biggie, just get some good study material and take some practice tests. If I remember right I used some stuff from a company called STC(I think)
Posted by POOLBOY on :
Does anybody know if the material off the web is good or is it a scam because the stuff I found is exspensive.
Posted by fsr63 on :
In all honesty, passing a series 7 does what for you. I ask this for those of us who don't exactly know what the test represents. Thank you in advance
Posted by Schwabie on :
<---------- Schwab lol
Posted by Schwabie on :
series 7 mean $500 extra in my pocket from my company :-D
Posted by POOLBOY on :
I have to take for my co. and it means a very nice raise.
Posted by fsr63 on :
Curious? where do you work that would enable you to receive a raise?
Posted by HossTrader on :
quote:Originally posted by fsr63: In all honesty, passing a series 7 does what for you. I ask this for those of us who don't exactly know what the test represents. Thank you in advance
Can't be a broker or certain types of Financial Advisor without it.
Posted by HossTrader on :
Here you go, from investopedia.com
"This exam is administered by the National Association of Securities Dealers (NASD) that provides an individual with the qualifications necessary in order to make different types of trades with all types of corporate securities, except commodities and futures. It is also one of the steps necessary in order for a member firm associate to register with the NASD. The Series 7 exam must be passed in order to take many other principal exams offered by the NASD. "
Posted by invester on :
quote:Originally posted by POOLBOY: Has anybody taken the series 7 test. Im about to take mine in a couple of months and I was wanting some tips if anybody has any.
Yes, study municipal bonds. When to use them, when not to. Current tax rate etc. 250 questions, a break in the middle. Don't study the day of, and don't second guess yourself.
Posted by POOLBOY on :
I work for AXA Advisors.
Posted by invester on :
Also, I think I used the Dearborn CD's. They were very helpful. And the series 66, the state license, it's pretty hard. I thought since I passed the 7, the 66 would be cake. No sir.
Posted by invester on :
It's not about what answer is right, it's about which answer is more right. There will be several that are applicable, but one that is more right. Study, study, and study some more.
Posted by POOLBOY on :
Thanks Iv been reading alot and have taken practice test with no problem but the real test has to be harder.
Posted by invester on :
quote:Originally posted by POOLBOY: Thanks Iv been reading alot and have taken practice test with no problem but the real test has to be harder.
You have no idea. It's complicated.
Posted by invester on :
Feel free to ask any questions that you have. Good luck.
Posted by LARSON on :
POOLBOY,
alibris.com
Seriously discounted textbook site for higher education material to elementary and everything in between. Might help.
L.
Posted by POOLBOY on :
Thanks alot guys. I think I will do alright but I have a bet in the office that I can set a record score and being the youngest they are all against me.
Posted by Kane31 on :
I took my 7, passed the first time and the 66, failed the first time. I would recommend taking practice test every day and then studying for a few hours each day also.
The company I worked for, Fortis Investments, provided practice test for me on a computer. I just had to pay for the study material in book form.
I would also recommend that you take your study book and go and have a copy made of it to put in a binder. That way you can make marks and write in the binder copy and not in the Study book.
If I'm not mistaken, if you fail, you have to wait something like 30 days before you can take it again. Is that still correct?
Posted by POOLBOY on :
I think so but I dont plan on taking it twice.
Posted by metal1 on :
quote:Originally posted by POOLBOY: Thanks Iv been reading alot and have taken practice test with no problem but the real test has to be harder.
funny you say that becasue i scored better on the actual test than i did on any practice test. the real test is not any more difficult than the practice test its just long and you have to remeber all the things you studied. i used the STC materials for the 7 and 63
Posted by BuyTex on :
cool thread, you guys...
What do these tests cover?
Posted by metal1 on :
well, included in the 250 question test are sections on Bonds, Options, market regulation, NYSE, retirement plans, customer accts, margin, some economic questions and some a few other topics. the 2 biggest sections are Bonds and Options if i remember right.
Posted by BuyTex on :
would be good stuff to know, I suppose. Do you find that background helpful on "the other side of the desk" as a trader?
Posted by metal1 on :
i suppose for most people it would give them a better overall knowledge but it doesn't really have an impact for real short term day traders.