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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.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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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)
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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Does anybody know if the material off the web is good or is it a scam because the stuff I found is exspensive.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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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
Posts: 70 | From: Ohio | Registered: Nov 2005
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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.
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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"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. "
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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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.
Posts: 4381 | From: houston | Registered: Mar 2006
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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.
Posts: 4381 | From: houston | Registered: Mar 2006
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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.
Posts: 4381 | From: houston | Registered: Mar 2006
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Thanks Iv been reading alot and have taken practice test with no problem but the real test has to be harder.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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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.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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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?
Posts: 311 | From: TN | Registered: Aug 2005
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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
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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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.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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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.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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