Exam Prep - Series 7 Exam
This exam is administered by the Financial Industry Regulatory Authority (FINRA) (previously the National Association of Securities Dealers (NASD) and provides an individual with the qualifications necessary in order to make different types of trades with all types of corporate securities, excluding commodities and futures. It is also one of the steps necessary in order for a member firm associate to register with FINRA. The Series 7 exam must be passed in order to take many other principal exams offered by FINRA.
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Individuals in the United Kingdom or Canada, in good standing with their respective country's regulatory authority, may be eligible to take an abbreviated form of the
Series 7.
Acceptable abbreviated version include the Series 17, Series 37, or Series 38 exams.
NYSE Series 7 Outline - A 38 page outline of the exam, keep in mind it was published in 1995 so some of the information is outdated.
Frequently Asked Questions
1. Is it possible to take the Series 7 exam without being sponsored?
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2. How do I receive sponsorship from a member firm in order to write a Series 7 exam?
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3. I failed the Series 7 exam. How long must I wait before I can take it again?
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When a corporation wishes to open a margin account with a broker-dealer, which of the following is required?
I. A corporate resolution from the board of directors
II. A copy of the corporation’s
trust indenture
III. A copy of the corporation’s charter or by-laws
IV. An agreement that the stock of the corporation will not be traded by the
broker-dealer as a market-maker.
a)
I, II
b) I, III
c) II, IV
d) I, II, III, IV
Answer
