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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.
| Time
Limit: |
6
hours. Note that the exam is broken into two parts
and each part has a time limit of 3 hours. |
| Number
of Questions: |
260
questions in total. 125 for each part and 10 pre-test
questions that do not count towards the exam grade
and are not indicated in the exam. |
| Passing
Score: |
70% |
| Format: |
Multiple
Choice |
| Exam
Enrollment Fee: |
$250
US as of August 2006. Note that this includes
a $90 NYSE development fee. Please visit the NASD
Registration/Exam Fee Schedule for more
information. |
| Prerequisites: |
You
must be sponsored by a financial company who is
a member of the NASD, or a Self-Regulatory Organization
(SRO). |
| Exam
Date(s): |
Any
Weekday |
| Exam
Locations: |
Find
your US or International exam center here |
| Official
Exam Website: |
http://www.nasdr.com |
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of the information is outdated.
1. Is
it possible to take the Series 7 exam without being
sponsored? View
Answer
2. How
do I receive sponsorship from a member firm in order
to write a Series 7 exam? View
Answer
3. I
failed the Series 7 exam. How long must I wait before
I can take it again? View
Answer
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
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