PDF Version DemoFINRA Series7 Exam Overview:
| Certification Vendor: | FINRA |
|---|---|
| Exam Name: | General Securities Representative Examination (GS) |
| Exam Number: | Series 7 |
| Passing Score: | 72% |
| Available Languages: | English |
| Related Certifications: | Securities Industry Essentials (SIE) Exam General Securities Representative Registration (Series 7) |
| Exam Price: | USD 300 |
| Certificate Validity Period: | Registration remains valid while properly maintained through a FINRA member firm; qualification may lapse if registration is terminated for two or more years unless otherwise permitted by FINRA rules. |
| Exam Format: | Computer-based, Multiple-choice |
| Real Exam Qty: | 125 scored questions |
| Exam Duration: | 225 minutes |
| Sample Questions: | FINRA Series7 Sample Questions |
| Exam Way: | Computer-based examination administered at Prometric test centers under FINRA authorization. |
| Pre Condition: | Candidates must pass the Securities Industry Essentials (SIE) Exam and be associated with and sponsored by a FINRA member firm or other applicable self-regulatory organization member to obtain the Series 7 registration. |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
FINRA Series7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Obtains and Verifies Customers' Purchase and Sale Instructions and Agreements; Processes, Completes and Confirms Transactions | 7% | - Trade execution and settlement
|
| Topic 2: Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives | 11% | - Customer accounts and documentation
|
| Topic 3: Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Investment products
|
| Topic 4: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 9% | - Customer acquisition and prospecting
|
FINRA General Securities Representative Examination (GS) Sample Questions:
Question #1
Which of the following price quotes is representative of a treasury bill?
A. 96 - 961/2
B. 5.55 - 5.75
C. 5.78 - 5.73
D. 98.9 - 100
Question #2
Bubba buys one XYZ June 40 call for $1,000 and sells one XYZ March 40 call for $600. Subsequently, the
June call is closed for $1,200 and the March call for $900. What is Bubba's net result?
A. $200 profit
B. $100 profit
C. $100 loss
D. $200 loss
Question #3
With the Regulation T requirement at 50%, a firm wishes to impose house rules that require a minimum
equity of 40%. Which of the following is true?
A. this action must be approved by the FRB and FINRA
B. this cannot be implemented because the level is below Reg T
C. this is permissible
D. this cannot be implemented since maintenance requirements are only 25% of equity for long positions
Question #4
Partnership democracy is:
A. permission granted to the general partner to act outside the partnership agreement
B. the sharing of management by all partners
C. a synonym for silent partner
D. a prohibition against control by a single partner
Question #5
Under Rule 415 a corporation may file a single registration statement with the SEC covering its
anticipated financing need for the next:
A. two years
B. one year
C. three years
D. five years
Solutions:
| Question #1 Correct Answer: C | Question #2 Correct Answer: C | Question #3 Correct Answer: C | Question #4 Correct Answer: A | Question #5 Correct Answer: A |
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