EDJ "Study for success" program

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bastermind80's picture
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Joined: 2008-07-10

My apologies beforehand for this lengthy post. There IS a question embedded...I promise. J<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
 
I landed a position as a FA with EDJ last month but don't start until January because I'm finishing up a military obligation with the USAF. I'll begin the "Study for Success" (S4S) program shortly after returning to civilian life in December and I definitely want to be leaning forward in my pursuit of a passing score on the Series 7 exam . Outside of a few corporate finance courses I took while pursuing my MBA and common knowledge in terms of investing I really haven't had a great deal of experience with the in depth side of securities. 
 
I recently purchased a few study books to work through while still in the military and I just completed my first but, after taking the end-of-book practice test, I realize that I have a ways to go. My goal is to become as familiar as possible with the subject matter before I even begin with EDJ's program to give myself the best chance possible to pass the 7. I have about 3 months worth of studying available (while balancing the other parts of my life) out of the next 5 for preparing for day one of (S4S).
 
Though some may tease me on this thread for my score, I will admit that with about only three weeks of studying this material (which is new to me) I got about 50% of the questions correct on my very first test run. I'm prepared to study as much as possible to bring that score up before I begin S4S in January and, ultimately, take the real exam in March.
 
I'm under the impression based on things that I've read/heard that EDJ has a pretty functional series 7 prep program (S4S) and that they boast an 80%-90% pass rate. I'm prepared to commit 40-60 hours per week during S4S to this program to ensure my passing in March and I was hoping that some of you EDJ folks out there would be willing to share your experiences with S4S and how well it prepared you for the series 7 & 66. Though not much, EDJ will be paying me $9.41 per hour to study which right now (and for the next handful of months) I'm doing it for free so I'm happy that I'll be paid at all to study :-).
 
Thanks in advance for sharing your experiences.

apprentice's picture
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Joined: 2006-06-06

BM - Your contribution to this greatest nation on Earth is very honorable!
 
My opinion is that you'll continue to score low until you shift your focus.  Until you put your attention soley on the series 7 - your other distractions will prevent you from being 'all in' with the studies.  Don't stress - but you may have to skim the material until you can devote more time.
 

Spaceman Spiff's picture
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Joined: 2006-08-08

If I were you, I'd put down the books until you start with Jones.  OK, maybe not completely, but don't kill yourself studying before you even start with Jones.  The Study for Success program is the best program in the industry for getting you through your series 7 exam.  The 90% pass rate speaks for itself. 
If you are adamant that you want to study, focus your attention on the options and muni bond sections.  If you can master puts, calls, spreads, straddles and all of the things that go into muni bond underwriting, you're probably 1/3 of the way to passing the exam. 
 
Enjoy the free time that you have for the next few months.  You probably won't have as much of it after you officially start in this biz.  

B24's picture
B24
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Joined: 2008-07-08

You'll do fine.  To score a 50 after a few weeks of study isn't bad.  Once you start the Jones program, you will surely pass.  Not because Jones is "so great", but they basically have you do nothing other than study for however many weeks (can't remember).  A frog could pass doing it this way.  That's why their pass rate is so high.  Many firms have you doing other stuff while you are studying (office-type work, training for broker work, etc.), so you are a little less focused.

Anonymous's picture
Anonymous

Wasn't there just some kid [from Jones] on here a few weeks ago that failed pretty bad (~50%)?  He was trying to blame his failure on being mislead by how great Jones' studying program was, blah blah blah? 
 
Ah well.  That kid was a tool.  Blaster, you'll do fine.  If you have extra cash and want some materials to look at for the next few months, I'd check out the Kaplan Financial materials.  They are pretty solid. 
 
Also, Spiff gave you very good advice (re: focus on options & munis).  My only advice to add to that would be to ignore the see-saw method and other little "tricks" they try and teach you to remember options.  They are a big part of the test.  You'll need to know them once you are in production.  They are really not hard.  Just learn how they actually work (instead of trying to remember see-saws and all kinds of other nonsense) and you'll breeze through them. 
 
Good luck.  And thanks for your service! 

Borker Boy's picture
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Joined: 2006-12-09

In contrast to what ice had to say about options, I highly recommend that you rely on any "tricks" Jones teaches about working options problems.
Unless you plan on working somewhere else soon, there is no reason to learn how they actually work. (Although during training I felt like I understood how they worked, but I stuck with the short-cuts to get me through the test.)
 
We can't sell options at Jones, so just focus on passing the test and then re-learn options down the road if you eventually go somewhere that does sell them.

babbling looney's picture
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Joined: 2004-12-02

Borker Boy wrote:
In contrast to what ice had to say about options, I highly recommend that you rely on any "tricks" Jones teaches about working options problems.
Unless you plan on working somewhere else soon, there is no reason to learn how they actually work. (Although during training I felt like I understood how they worked, but I stuck with the short-cuts to get me through the test.)
 
We can't sell options at Jones, so just focus on passing the test and then re-learn options down the road if you eventually go somewhere that does sell them.
 
What Borker Boy said

Anonymous's picture
Anonymous

Seriously?  If you can't learn the ins & outs of options in a weekend then you probably failed first grade.  Twice. 
 
If you KNOW how something works they absolutely cannot derail you from getting the questions right.  If you only focus on those stupid shortcuts, if you screw up one part of the shortcut, or can't remember some idiotic drawing, or any of the drawings for that matter, you are totally screwed. 
 
This guy has what?  6 months or more until he can even think about taking the S7?  Why not just learn them already.  These are such an easy concept - people get rattled by them though because they don't hear the terms used freely in their daily lives. 

troll's picture
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Joined: 2004-11-29

I'm a little upset someone beat me to the Jones and options irony angle.

Anonymous's picture
Anonymous

Surely Primo, of all people, you can relate to what I am saying on this issue?

imabroker's picture
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Joined: 2007-12-22

BM, I think they've shortened the S4S program slightly since I went through a couple of years ago.  Regardless, I think it is very well laid out and explained.  In my opinion if you have other (better) things to do now, don't spend too much time studying.  Yes, you'll get a head start but you probably don't need it.  I followed their instructions to a "T" and scored very high and I'm no brain surgeon.  Thank you for your service and best of luck!

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