Of the 250 questions on the Series 7 exam, 27 will focus on this critical function:
"Opens, transfers, and closes customer accounts and maintains appropriate account records."

The information in this section is not as critical as what has been covered in the preceding sections, but it is still essential. More than 10% of the Series 7 exam questions will be on the processes and rules surrounding customer accounts. If you had trouble with any of the material covered up to now, having a good grasp of the concepts in this section could still put you up over the 70% mark.

Types of Brokerage Accounts

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