Understanding The Procedure For Series 7 Test
Passing the Stockbroker series 7 license exam is essental to most broker/dealers for their trainees who wish to work as an agent. The Series7 Exam is a Two hundred and sixty question exam (although just 250 have points), which covers areas including equity securities, bonds, investment financial, securities trades, Limited Partnerships rules and regulations, municipal bonds, securities analysis, Options margin, securities companies, etc. Although this could be a difficult exam,preparing yourself correctly can make the actual challenge much easier.
Most students spend about four to six weeks preparing for the actual Series 7. You should strategize on spending a good Three or four hours per day while studying|learning} for the exam. Although you might be tempted to have a day away here or even there, it isn’t a good idea. Since you probably won’t be using a lot of the information that you are studying each day, it’s very easy to forget what you have learned if you take a large amount of days off.
You’ll be taking the actual Series 7 Exam with either a Thompson Prometrics or a Pearson Vue testing center. The brokerage firm that you’re working for will usually set up your own series 7 license exam test date for you or maybe not, offer the information a person need to set up your own exam date. A grade of 70% is needed to pass the Series7 but unfortunately, they do not round up, so a score of 69.6 will be rounded right down to 69. Since the Series Seven takes Six hours and most screening centers only have a dozen approximately computers , it always takes almost 1 to Two weeks to obtain a test date. You should book your Sequence 7 as soon as you have a target date in mind. If for any reason you aren’t prepared by that date, you can always move your check date back. If you want to move the actual scheduled date, you must do promptly at least two business days prior to your test date sometime prior to noon. If you wait too long to reschedule, you will have to pay for the full price of the exam whether you take it or not.
Once you pass the actual Series 7, your license will remain active so long as you are associated with a company. However, you will be required to a qualifying exam every so often to make sure that you did not forget your learning. However, if you leave your own firm for over 2 years, you will be asked to retake your Series 7 Examination.
If you are going to take your Series7 Examination, put in the time that it takes and take enough practice assessments so that you can make sure that you are able to pass the Series7 the first time. There isn’t much more frustrating than having to take the Series7 once again because you did not study well enough.
Research hard and become successful the 1st time. Good luck on your quest.