All About The Series 7 Exam
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Passing the Series 7 Test is needed by most broker/dealers for their new trainees who wish to work as a agent. The actual Series 7 Exam is a 250 multiple choice examination, which covers locations such as collateral securities, financial debt securities, securities markets, expense banking, Restricted Partnerships, rules & regulations, municipal bonds, investment companies, choices, margin, and so on. Most college students spend about four to six days preparing for the Series 7 Exam. You need to plan on investing at least three to four hours each day while preparing for the Series 7. Although you might be tempted to take a day off now and then, it is not a wonderful concept. Since you might not be using many of the information that you are studying every day, it is quite simple to forget what you have learned if you take too many days off. You'll be taking the real Series 7 with whether Pearson Vue or Thompson Prometrics testing center. The firm that you're working for will often set up your Series Seven test day for you or if not, provide you with the information you need to setup your own check date. A grade associated with 70% is needed to pass the Sequence 7 as well as unfortunately, it normally won't round up, therefore a rating of 69.6 is going to be rounded right down to 69. Because the Series 7 takes 6 hours and most testing centers only have a dozen approximately computers, it usually takes about 2 weeks to get a test date. You should routine your Series 7 check as soon as you possess a target day in mind. In the event that for any reason a person aren't very ready by that date, you could move your test go as far back. If you need to move the scheduled date, you must do so a minimum of 2 working days before your test day prior to noon. If you wait around too long to reschedule, you will be charged for the full price from the exam regardless of whether you take this or not. When you successfully pass the Series 7, your license will remain active so long as you are still affiliated with a firm. However, you will be required to a qualifying exam every so often to make sure that you remember what you have learned. However, if you leave your own firm for more than 2 years, you will be required to take your Sequence 7 Examination all over again. If you're planning on getting your Series 7 check, put in the hrs that it takes as well as take enough practice exams so that you can ensure that you are able to pass the first time. There is not much more irritating than having to take the Series 7 once again (and wait around another 30 days) because you didnt study quite enough. Study hard and pass the 1st time. Good luck on your journey.