Just failed the Series 7 top off. $1,500 B. 3. the answer choices. I didn’t get too many muni questions and options were pretty easy. Unsure about how to prepare for your retake? cram, good for you, but you should still start studying as soon as you can. All books were created by Steven M. Rice and Rueben Martinez, Series 7 Course Textbook and Final Exam Book. exam takers. Using the old Series 7 book and figure maybe I should have latest edition. Below you will find some free Series 7 Exam practice questions. The new Series 7 tests knowledge relevant to the day-to-day activities, responsibilities, and job functions of general securities representatives. How many finals did you take and what were the scores of the latest ones? The public offering price C. The names of the officers of the company D. An SEC disclaimer. 7) Which of the following is a description of the third market? The SIE does not need a sponsor yet the Series 7 Top-Off exam does. Like the original subreddit, this subreddit is designed for people who want to discuss issues related to prep for series 7 exam and the SIE. Rule 147 offering C. Regulation D D. Private Placement. Got 58% which is pretty bad, What do you guys recommend to learn suitability? Download this free guide to learn more about how the new securities licensing process works, the rationale for the change, SIE tested exam content, and how it could change hiring and recruiting practices. Archived. You might want to supplement your studying with Kaplan's q-bank. The Series 7 exam is a test a stockbroker must pass if they want to be licensed to trade a variety of securities. We put all of their advice into a value-packed eBook. Bille is 21, has xx$, high risk, wants liquify, etc. Its important to have plan going into this test. The outline is comprised of the four major job functions of a general securities representative. Remember, since the exam changed in October of 2018, the SIE Exam is a co-requisite, meaning you must take and pass both. When you’re unsure of the correct answer, eliminate as many wrong answers as possible. ..... Fine print: Coterminous debt only applies to towns, cities, and counties. They help you key in on certain words that will help tip you towards the right answers before finishing the whole question. The new Series 7 tests knowledge relevant to the day-to-day activities, responsibilities, and job functions of general securities representatives. That's because the old Series 7 has now been split into two different exams, which are now the SIE (Securities Industry Essentials) exam plus the new Series 7 Top-Off exam. of which set of exam questions they received. We asked several accomplished securities pros what they wish they knew before they earned their license and started their career, and what they thought all aspiring securities professionals should know. Happy to PayPal or whatever. with Function 3, and four tasks (4.1–4.4) associated with Function 4. Take several practice exams before you tackle the real deal. Take short, ten-minute breaks throughout the day to give your brain a chance to process information. I know my exams scores are a bit lower than I’d like them to be but i can’t seem to get over the 75% threshold, do you think that’s going to hurt me?. I think 2 questions that I had never seen on ExamFX (I read the entire ebook) or QBank. In total, 125 questions will count toward your final score. You have already put in a great deal of study time, so it’s unlikely you need to study that much again. Probably had 50 min in the end to go back and finish some of the long number problems double checked the ones I marked for review. You are also likely to have learned what your weak spots were based on how you felt about the questions when you took it the first time. Reinforce your knowledge every day by reviewing old information while learning new material. I was really regimented about knowing everything and being comfortable and ready for when I wanted to take the test, not when others thought I should. Cannot be determined is almost never the correct answer on the Series 7 exam. Because my test contained so many questuons on suitability and options, I almost ran out of time. Did you go through the Smart 7 program completely, including adhering to to the guidelines? I would say the only reason I passed the top off portion was how good stc handles options and taxation because I felt a majority of my questions involved these topics, I felt like saying this cause I was searching this reddit for someone who failed the legacy exam and didn’t purchase new material for sie and top off retake. Some other things to know is how taxation will be handled for your various fixed income products and how to calculate parity. I’m using STC provided by my firm, I come from a legal background (graduated with a degree in pre law just this past December, as I’m 22 years old). 5) All of the following are part of a CMO EXCEPT: A. GNMA B. FNMA C. SLMA D. FHLMC. Download Series 7 Content Outline Now that you’ve done an inventory of what might have caused you to fail the Series 7, you can create a study plan to address your issues. However, you should also make sure that you dedicate some time to reviewing the others just to keep them fresh in your mind. What were the reasons you failed? The most common and most obvious reason is the cliche “no pain, no gain.” Young professionals with minimal background in finance will find that they may need up to two months of studying for the Series 7 exam. How much must the investor deposit into the margin account? I sat down and didn't get up once the entire time. Candidate test scores are placed on a common scale using a statistical adjustment process known as equating. The common content is now tested in the new Securities Industry Essentials (SIE) exam. This is not your father's Series 7 exam. Also, you don’t have to fear losing what you learned because of long cycles between exam dates. 1) Which of the following would bring the best after tax yield for an investor in the 32% tax bracket? A. For everyone studying, please make sure you are solid on Options and Suitability. Series 7 two-book set. Passing the Series 7 exam is a rite of passage for stockbrokers. selling concession, A. II, III, and I B. III, II, and I C. I, II, and III D. I, III, and II. (When you combine it with the $60 fee for the SIE, the cost becomes the same as in the past.). I felt really good going into the test, I was scoring 85's+ on the STC final closed books and scored 15 points lower on the actual test. This subreddit is at least a temporary solution for the issues we are having with creating topics in the original series7exam subreddit. When answering multiple choice questions, if you see two opposing answer choices, one must be right. Thanks. A. Most are updated to address the latest regulations, In my experience, students that had a hard time passing the SIE Exam, or failed it once or twice may take up to six months (and multiple attempts) to pass the Series 7 Top-Off. An explanation of the spending of the funds raised from the offering B. :). But in really weird situations. For example, one such task (Task 1.1) is specified as: “Contacts current and potential customers in person and by telephone, mail and electronic means; develops promotional and advertising materials and seeks appropriate approvals to distribute Securities rules and regulations change frequently and test topics can reflect them almost just as fast. Stay focused. The Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. I failed two times before passing on my third try. Failed Series 7 Exam: Reason 1. Try to keep up with the latest information from FINRA, starting with their notices web page. You’d be surprised at how many people failed the Series 7 because they missed something important in some of the questions. Regardless of what happens tomorrow the in person class helped me out a lot. 3) A customer purchases 100 shares of ABC stock @ 52 and sells 1 ABC Oct 55 call for 7. Download A Candidate's Complete Guide to the New SIE Exam now to learn more about the new proposed licensing process … So, you failed the Series 7 exam. Follow the tips listed here and you’ll be well on your way to earning a passing grade. And if you didn’t Others may need two months of studying and private Series … For example, the SIE and Series 7 top-off exam take the same amount of time as the previous Series 7 exam. For these reasons, it should be much easier to balance your work, family, and study commitments this time around. Congratulations! FINRA drastically changed the exam in 2011 after a massive study of RR activities in the years prior. At the end of the practice test, you’ll find an answer key. Series 7 top off book that they'd like to sell? Not sure how pass perfect is but I’ve used only stc for the 7to and passed last month. retake the exam as early as 30 days after you fail. 1,000 shares at $100 per share C. 2,000 shares at $50 per share D. 2,000 shares at $25 per share. The Financial Industry Regulatory Authority (FINRA) administers the Series 7 Top-Off, which is a 135 question exam.