A:

If you fail your first attempt at the Series 7 exam, your sponsor can submit an amendment to reopen a window in which you can write the exam again. This window will not open until 30 days since your last exam attempt has transpired. At this point, your window will be open for 90 days.

There is no requirement for a sponsor firm to terminate your employment should you fail. However, every time you rewrite the exam, you must pay the required $200 registration fee. So your employer they may require you to reimburse the fees paid to write the exam.

After three failed attempts, you must wait six months before you can re-write the exam for the fourth time. The six-month waiting period is appropriate since by that point you would have paid a total of approximately $600, and the cumulative expense by the fourth time would be $800. The six-month requirement is intended to provide a window in which an individual can ensure he or she is prepared for the fourth exam attempt. This process will then continue indefinately, as there is no limit as to the number of times you can attempt the series 7 exam.

RELATED FAQS

  1. If I have only a limited amount of time to study for the Series 6, what should I ...

    Learn what to focus on when studying for the Series 6 while reviewing important aspects of the exam, including its content ...
  2. What role does the 'chip cycle' play in the electronics sector?

    Read about some of the best and most popular test prep classes for the Series 6 FINRA securities licensing exam, including ...
  3. What does passing the Series 6 enable me to do?

    Learn more about the Series 6, what the examination and license are and what the license enables an individual to buy, sell ...
  4. How do I learn technical skills for trading commodities?

    Learn what resources are available to learn about trading commodities, and understand some of the differences between stocks ...
RELATED TERMS
  1. Advanced Diploma In Insurance

    A qualification earned by insurance professionals and conferred ...
  2. Associate In Personal Insurance (API)

    A designation earned by professionals looking for training in ...
  3. Associate In Reinsurance (ARe)

    A designation earned by insurance professionals looking for reinsurance ...
  4. Associate In Surplus Lines Insurance (ASLI)

    A designation earned by insurance professionals involved with ...
  5. Credit Business Fellow - CBF

    A designation for achievers who have proven knowledge in intermediate ...
  6. Credit Business Associate - CBA

    A designation awarded to those who show mastery in financial ...

You May Also Like

Related Articles
  1. Savings

    College Tuition vs. Investing: Is It ...

  2. Professionals

    Top Strategies on How to Become a Stock ...

  3. Investing

    What Education Do You Need To Become ...

  4. Professionals

    Should You Add A Securities License ...

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!