Fire Solutions Issues (Series 7 Test Prep Provider Help)

45 replies [Last post]
abovocom's picture
Offline
Joined: 2011-07-20

I was just hired by ML for the PMD/FA program and have been studying for the Series 7 Exam with the Fire Solutions program for the last 2 1/2 weeks.  But at this point, I can honestly say that I want to pull my hair out with it and am wondering if I should change providers while I still have 5 weeks before my exam. (I am thinking of Training Consultants or Kaplan).  Naturally, you can't evaulate any of the providers materials before you buy, so I am hoping to get some RECENT experiences.What is everyone else using and how do they like it?  Fire Solutions' Pros: The instructor, Roy, is very nice and directly accessable if you call him and he will answer any question you have.  He claims to stay on top of recent test questions so that he can help you be better prepared.  Critical concepts most likely to be on the test are printed in red.  (There is a lot of red).  Executive summaries are supposed to be a compilation of the "red" items.Fire Solutions' Cons: The written material is poorly structured. It is written more from the perspective of teaching possible questions that are on the test rather than by building a foundation of knowlege so that new concepts make sense.  Tutorial videos are very hard to follow as Roy starts, stops, and interjects stories that seem to have no bearing on the modules. 

markdmalone's picture
Offline
Joined: 2011-07-22

I Started on 6/20 with STC.  They have a 4 week study calendar that includes two weeks of reading and then two weeks of practice tests.  I read through the entire STC in 2 weeks and then started just reading the executive summaries in FIRE and taking the quizzes.I think that STC was more straight forward and clear cut than FIRE Solutions.  However, I did find that FIRE had some terms and concepts that STC did not cover.  I don't know anything about Kaplan's 7 prep.  But, the Regional PMD manager told me that PMDs that completely run through FIRE have a 90% pass rate on the 7, and that the higher ups exclusively reccommend FIRE Solutions.STC is straight forward no BS info that reads like a good college text book.  I was able to read through it once and understand the material.  It comes in a 3-inch binder with 500+ pages of reading, and another 3-inch binder of practice tests.  Plus having a hard copy allows you to highlight material, if that is helpful for you.  I also like that STC has a glossary at the end of the textbook which has been a handy quick reference. The online progress tests are tough and worth taking.FIRE Solutions has the cool online tracking template so you can easily look and see which sections you have reviewed, and which sections you are getting high/low quiz scores on.  Plus the executive summaries are a nice feature for reviewing once you feel you have a solid understanding of all the material.  I do think, and have confirmed with FAs, that FIRE Solutions is intentionally overly-tricky in their quizzes. One FA told me to expect to score 10% higher on the actual 7 than you do on the FIRE tests.  I have noticed that some piece of obscure information is mentioned in a summary and then there is a double negative trick question on it in the quiz.  That has been a big frustration for me.  I also think that some information is over-explained which then makes it confusing.In my first week I had 4 PMDs that are ahead in the program come and tell me about their training experience, and 2 raved about FIRE and the other 2 condemned it.  So it's a matter of preference.  Me, I liked the STC but feel that FIRE was an essential secondary resource.So, if you are the type that can sit quietly and read for 4-6 hours a day for two weeks, STC is a great system.  Plus it's a great feeling of accomplishment to hold that big heavy binder in your hand and know that you read and understand all that info.  After you read through STC go back through and read the executive summaries in FIRE and take the quizzes.  That's what I did and I feel super confident in my understanding of the material.  I am consistently scoring in the mid 80s on practice tests and I still have 3 1/2 weeks to study. Anyway just keep chugging away! Hope this helps somehow.  Good luck! When's your test date?

abovocom's picture
Offline
Joined: 2011-07-20

Thanks so much for your input.  I could not agree more with the above comments.   Since I test August 19th, I still have time to go and I have decided to give Training Consultants a try.  I will let you know how it goes. 

Gordon's picture
Offline
Joined: 2011-02-15

I used Kaplan for my 7, 66, and Life and Health, and felt like I was overly prepared for all three. There Q bank questions really help prepare you for the exams, and for the most part are harder than the actual test questions. I took the one week class for the 7 and the instructor helped focus on the main points we needed to know. I have nothing but good things to say, and plan on using them when I start the CFP process.

markdmalone's picture
Offline
Joined: 2011-07-22

ZwingDing wrote:You should consider removing that ML branded logo from your identity. You want to maintain anonymity here and that does not belong to you and could attract attention.Good Call, I think I'll pick a new name too.. Thanks!

abovocom's picture
Offline
Joined: 2011-07-20

Found out that Training Consultants is the provider for Edward Jones.  I have been using the online & book training for a few days now and really am impressed with the overall integration and simplicity of the program.  They say that their first time pass rate is 91%+.  I wish that I had started with them. 

abovocom's picture
Offline
Joined: 2011-07-20

Yes, I agree that Roy is a nice guy and can be helpful in person and he
has some math short cuts that work well.  However his tutorials are very hard to follow, the written material is
disjointed and the concepts are not built upon a proper foundation of understanding
to make them easy to grasp.  I have heard about QBank and I would also
suggest that PassPerfect is a good option too.  They both have modifiable
tests.  The advantage of Pass Perfect is that it auto-modifies the tests
to help you strengthen your weak areas. 

NotQuite's picture
Offline
Joined: 2011-08-04

I just took my test today and finished about 2 hours ago. I can speak from experience. Fire Solutions has a great intention in reference to how they try to structure the learning materials but the truth is that it is very difficult to learn core principles such as taxation and investment vehicle solutions using FIRE. Roy is very nice but he is just like the guy who you ask for directions and tells you where not to turn instead of just telling you where to turn. Like I stated great intentions but failed approach for me at least. I did not pass and am awaiting a decision on if I will be terminated or not in the morning. I scored 100% in derivitives and scored high in other areas but differientiating taxation for each individual security and choosing the least risky or most risky investments was tough for me. I honestly may have overstudied but overstudying a flawed method can only yield disaster. Now that's a yield I wish I could have calculated prior to using FIRE instead of STC in the PMD program. I really hope Merrill views me as a valuable part of the team considering I have at least 3 above $3 million accounts waiting for me to get my production number. The test can't measure your ability to build and maintain relationships with High Net Worth Clients. It's simply a formality and I understand but I pray that perhaps there may be an exception and I be given a second chance. Tips to others. Listen with a careful ear if you do decide to continue with FIRE in using the tutorials. Just print the slides from the tutorials and study those. I learned that the executive summary does not always have the information you need in it; however the slides and the trainers not give you the best visual display of what you need to know. I too was frustrated to figure out that the practice test in an effort by FIRE to be hard was not hard but it was in fact a misrepresentation of what you were given to study. There were a couple of times I used the executive summarys as I took those test and still scored no higher than 78%. I would then after viewing the test see that I didnt answer the question incorrectly because I was stupid but primarily because either the information in the executive summarys lacked the information or the information provided was conflicting. I studied till 3AM sometimes and still didnt pass and I know I did my best despite what any of you may believe. I had entirely too much riding on this to slack off. So I hope you take it from a recent testee that FIRE may not be the best company to prepare you for this exam. Please supplement witb another tool. I only wish I would have.

abovocom's picture
Offline
Joined: 2011-07-20

NotQuite: Sorry to hear about your exam.  I really hope that your managers can see your value.  I was beginning to think that I was the only one who hit a wall with FIRE.  Roy is really nice, but his tutorials and the written material made me want to put my head through glass.  I switched over to Training Consultants and found them to be clearer and more understandable.  Their online program follows their printed material very closely.  They also have a 90+ pass rate on the first try for the Series 7.  Edward Jones trainees and those of another national firm use them exclusivley.   I wish Merrill Lynch did.   Most in my office started with Fire, gave up on it and went to STC.  However, several in my office tried to use STC and/or Fire for the Series 66 and failed on the first try.  I know two ladies that are new to the business that used Training Consultants and passed in the mid-80's in the last 3 months.   I have called Training Consultants several times for help and they have at least 4 trainers that can answer what ever questions that you have.  Also, if while you are watching their tutorials you have a question, you can click a link, type your question and then they email the answer back to you.  At first, when I saw the course material, it was HALF as thick as STC, PassPerfect and Fire Solutions, but that is because they are only giving you what you need to know, not every thing possible.  Anyway, I had to buy the training myself and it is not cheap, but I think that i have a better chance now.   I hope you get a second one too.

ZwingDing's picture
Offline
Joined: 2010-09-15

abovocom wrote: Yes, I agree that Roy is a nice guy and can be helpful in person and he
has some math short cuts that work well.  However his tutorials are very hard to follow, the written material is
disjointed Yeah, I agree. 

ZwingDing's picture
Offline
Joined: 2010-09-15

NotQuite wrote: I really hope Merrill views me as a valuable part of the team considering I have at least 3 above $3 million accounts waiting for me to get my production number. Merrill will view you as a valuable part of the team IF you transfer a good portion of those assets in - in a fast enough period of time. We have a Richie Rich PMD in our office and all the assets he claimed to be able to bring in are still held away. He is on the verge of getting canned.The test can't measure your ability to build and maintain relationships with High Net Worth Clients. The test is a rite of passage. No one claims it tests relational skills with the HNW. And btw: no one at Merrill or any other firm is going to care about an ability to build and maintain relationships with anyone including the Queen of England. You have to deliver the assets into the firm, and you have to deliver them in pretty short order.It's simply a formality and I understand but I pray that perhaps there may be an exception and I be given a second chance. I vote no. If you don't have the stuff to pass it the first time you should get canned like anyone else. No get out of jail free card for Richie Rich.Tips to others. Listen with a careful ear if you do decide to continue with FIRE in using the tutorials. Just print the slides from the tutorials and study those. I learned that the executive summary does not always have the information you need in it; however the slides and the trainers not give you the best visual display of what you need to know. I too was frustrated to figure out that the practice test in an effort by FIRE to be hard was not hard but it was in fact a misrepresentation of what you were given to study. You are full of crap and an excuse machine. Frankly, I don't think much of FIRE even though I think Roy is a good guy with a good heart. I personally prefer Kaplan, but tons of people pass the 7 just using FIRE.There were a couple of times I used the executive summarys as I took those test and still scored no higher than 78%. I would then after viewing the test see that I didnt answer the question incorrectly because I was stupid but primarily because either the information in the executive summarys lacked the information or the information provided was conflicting.Results matter. Period. I studied till 3AM sometimes Boohoo. If you didn't pass, it's not the fault of FIRE. I agree that FIRE has issues. It's not well organized and the presentation is not as good as others. But, many many people pass the 7 with FIRE. You're the one who didn't pass. Take 100% responsibility Richie.and still didnt pass and I know I did my best despite what any of you may believe. I had entirely too much riding on this to slack off. So I hope you take it from a recent testee that FIRE may not be the best company to prepare you for this exam. Please supplement witb another tool. I only wish I would have.

Mr. Net New's picture
Offline
Joined: 2010-04-30

If you didn't pass the 7, you're going to be in for a rude awakening when (if) you get to the 66.  Fire - while not the best - is just fine for the 7.  You should have passed with ease using their material and diligent studying.  To put things into perspective, the 7 is a cake walk relative to the 66.  And, your management, surely, is aware of that fact. 

NotQuite's picture
Offline
Joined: 2011-08-04

Actually ZWINGDONG I've already transferred 2 mil into the house account and building relationships is absolutely the first step to closing an account. Some may say I am stupid for doing that but I know this game. I was simply giving Merrill a taste of what is to come in my efforts.By the way tenaciously recruited into this business with no prior experience so lets not talk about what Merrill thinks of me. If things were not to work out; which I am pretty sure they will I wouldnt work for another brokerage firm anyway and they could keep the assets. I would bow out gracefully and go dominate another industry. I wouldn't cry over it ; however when a Billion Dollar company tells you that they believe in a test preparation company then I didn't see the harm in trusting them. We have actually had 2 FA's within the pass two months to fail via FIRE I just didn't want to scare the new guy. I dont cry because I am absolutely fearless. If and when I get another opportunity to pass I could almost guarantee I could double your book in less than a year and by the way I am not a Richie Rich. I'm a shirtsleeve to shirtsleeve; however this sleeve ends here. I almost believe that you are one of the over 35 year olds who still believes in rites of passages, but the reality is that this industry will not stand with us 25 and unders coming in now. In about 20 years with the 'help' of current FAs over 35 Merrill will be selling itself to another bank because, cold calling doesn't work anymore. It isn't the only way anymore and I'd say 50% of the current Advisors for Merrill still oddly believe business is closed over the phone and behind their desk. I know the truth; I know that the old fogees prey on the PMDs in an effort to "PARTNER" and get in on a portion of the assets so that just in case the PMD fails; which is what I believe the FA's pray for; they can own those assets and laugh as they do no work themselves. Prospecting doesn't even happen unless a PMD does it and frankly no FA in Merrill can eat unless they are prospecting but instead of actually doing the work they leach. That's cool though I know exactly how to handle them. But anyway none of this matters. The forum was about FIRE Solutions & The Series 7 and you said so yourself, they are sub par. So do me a favor and "GROW UP" and get off FORUMs when you should probably be prospecting and concerned about your own book and not be in the ROOKIE forum giving supposed "SENOIR" advice. Sorry guys I'm not trying to be rude to ZWINGDONG however if FIRE was Fireproof it would be the only Test Prep out and that only means that it is not for everybody and it wasnt for me. That is all I was trying to say. No tears here. Oh and during this annoyed reply post I received a phone call and looks like I am getting a second chance so "WATCH OUT" ZWINGDONG. I'm coming for your clients buddy. All of em. I won't fail next time and I've already got my 66 so give me till whenever I pass this test and I promise to send you an E-THANK YOU Card for all your support. What an encouragement you've been.

ZwingDing's picture
Offline
Joined: 2010-09-15

Mr. Net New wrote:If you didn't pass the 7, you're going to be in for a rude awakening when (if) you get to the 66.  You are correct sir.

ZwingDing's picture
Offline
Joined: 2010-09-15

NotQuite wrote:Actually ZWINGDONG I've already transferred 2 mil into the house account Good luck with that Richie. If you don't find someone to take the 7 and 66 for you and you fail out you just built someone else's book.and building relationships is absolutely the first step to closing an account. Thanks for the lecture Richie. If you know so much and have such great contacts why go to a wire at all? I smell something rotten in Denmark. If you have that much to offer you would be much better off at an RIA or Indy. Some may say I am stupid for doing that The representative from Zwingland votes aye.but I know this game. Then what are you doing on this forum. Why are asking for people's feedback on whether or not you might get a pass on not passing the 7. You know this game, but don't know something as elementary as that?I was simply giving Merrill a taste of what is to come in my efforts.You are certainly impressed with yourself. Why? Because you won the sperm race? The first taste Merrill has of your "efforts" is your experience with the 7. By the way tenaciously recruited into this business with no prior experience so lets not talk about what Merrill thinks of me. Read your post. You are the one who raised the issue of hoping that Merrill would think well of you in spite of your issues. If things were not to work out; which I am pretty sure they will I wouldnt work for another brokerage firm anyway and they could keep the assets. What kind of friend/family member are you? You don't give a rip about these people's assets? You don't care who ends up managing the money? What if it winds up in the hands of someone who is less than ethical? I would bow out gracefully and go dominate another industry. Yes, you are certainly setting out your domination of this industry. I know I'm quaking.I wouldn't cry over it ; Too late. You're already spending an undue amount of time defending yourself. Oops.however when a Billion Dollar company tells you that they believe in a test preparation company then I didn't see the harm in trusting them. You may or may not have some assets that will follow you in, but you are not a prime candidate for success. You are already blame shifting. Richie says: "It's not me. It's the test prep company." have actually had 2 FA's within the pass two months to fail via FIRE I just didn't want to scare the new guy. I dont cry because I am absolutely fearless. Read your post. That is fear. You are self deluded.If and when I get another opportunity to pass I could almost guarantee I could double your book in less than a year and by the way I am not a Richie Rich. Here's hoping you don't get a second chance. Others don't, neither should you. I'm a shirtsleeve to shirtsleeve; however this sleeve ends here. I almost believe that you are one of the over 35 year olds who still believes in rites of passages, but the reality is that this industry will not stand with us 25 and unders coming in now. Wow. You truly are impressed with yourself. Yes, you will change the world grass-hopper. We await your commands.In about 20 years with the 'help' of current FAs over 35 Merrill will be selling itself to another bank because, cold calling doesn't work anymore.Big  books are being built everyday with cold calling sweetie. It isn't the only way anymore and I'd say 50% of the current Advisors for Merrill still oddly believe business is closed over the phone and behind their desk. This is based on what? Your exensive research for your PhD?I know the truth; I know that the old fogees prey on the PMDs in an effort to "PARTNER" and get in on a portion of the assets so that just in case the PMD fails; which is what I believe the FA's pray for; they can own those assets and laugh as they do no work themselves. Finally, you made a true statement. Prospecting doesn't even happen unless a PMD does it and frankly no FA in Merrill can eat unless they are prospecting but instead of actually doing the work they leach. Yes. You are correct. So, since you are SO awesome and have ready access to assets that will follow you why go to a place like Merrill? That's cool though I know exactly how to handle them. But anyway none of this matters. The forum was about FIRE Solutions & The Series 7 and you said so yourself, they are sub par. So do me a favor and "GROW UP" I have a hang nail older than you sweetie.and get off FORUMs I'm going to go with...no. But, thanks for playing the game.when you should probably be prospecting and concerned about your own book and not be in the ROOKIE forum giving supposed "SENOIR" advice. Read my posts. I have never held myself out to be senior. Read your post. You asked for RECENT experience with the issue you are facing. I fit that category.Sorry guys I'm not trying to be rude to ZWINGDONG however if FIRE was Fireproof it would be the only Test Prep out and that only means that it is not for everybody and it wasnt for me. You are a blame shifter. YOU failed bubba. Own it.That is all I was trying to say. No tears here. Oh and during this annoyed reply post I received a phone call and looks like I am getting a second chance so "WATCH OUT" ZWINGDONG. I'm coming for your clients buddy. My clients wouldn't give a 20 something a single penny of their money. All of em. I won't fail next time and I've already got my 66 so give me till whenever I pass this test and I promise to send you an E-THANK YOU Card for all your support. What an encouragement you've been.You're welcome.

Market Mark's picture
Offline
Joined: 2011-07-23

NotQuite wrote:Actually ZWINGDONG I've already transferred 2 mil into the house account and building relationships is absolutely the first step to closing an account. Some may say I am stupid for doing that but I know this game. I was simply giving Merrill a taste of what is to come in my efforts.By the way tenaciously recruited into this business with no prior experience so lets not talk about what Merrill thinks of me. If things were not to work out; which I am pretty sure they will I wouldnt work for another brokerage firm anyway and they could keep the assets. I would bow out gracefully and go dominate another industry. I wouldn't cry over it ; however when a Billion Dollar company tells you that they believe in a test preparation company then I didn't see the harm in trusting them. We have actually had 2 FA's within the pass two months to fail via FIRE I just didn't want to scare the new guy. I dont cry because I am absolutely fearless. If and when I get another opportunity to pass I could almost guarantee I could double your book in less than a year and by the way I am not a Richie Rich. I'm a shirtsleeve to shirtsleeve; however this sleeve ends here. I almost believe that you are one of the over 35 year olds who still believes in rites of passages, but the reality is that this industry will not stand with us 25 and unders coming in now. In about 20 years with the 'help' of current FAs over 35 Merrill will be selling itself to another bank because, cold calling doesn't work anymore. It isn't the only way anymore and I'd say 50% of the current Advisors for Merrill still oddly believe business is closed over the phone and behind their desk. I know the truth; I know that the old fogees prey on the PMDs in an effort to "PARTNER" and get in on a portion of the assets so that just in case the PMD fails; which is what I believe the FA's pray for; they can own those assets and laugh as they do no work themselves. Prospecting doesn't even happen unless a PMD does it and frankly no FA in Merrill can eat unless they are prospecting but instead of actually doing the work they leach. That's cool though I know exactly how to handle them. But anyway none of this matters. The forum was about FIRE Solutions & The Series 7 and you said so yourself, they are sub par. So do me a favor and "GROW UP" and get off FORUMs when you should probably be prospecting and concerned about your own book and not be in the ROOKIE forum giving supposed "SENOIR" advice. Sorry guys I'm not trying to be rude to ZWINGDONG however if FIRE was Fireproof it would be the only Test Prep out and that only means that it is not for everybody and it wasnt for me. That is all I was trying to say. No tears here. Oh and during this annoyed reply post I received a phone call and looks like I am getting a second chance so "WATCH OUT" ZWINGDONG. I'm coming for your clients buddy. All of em. I won't fail next time and I've already got my 66 so give me till whenever I pass this test and I promise to send you an E-THANK YOU Card for all your support. What an encouragement you've been.Arrogance is not a business plan.  For a guy that failed the 7 you should be a little more modest.  Bringing in a few million in assets is a great start.  Good for you.  But it's a far cry from actually having a successful practice.  Regardless of how confident you may be, you are totally unproven, and you failed the first test. 

ZwingDing's picture
Offline
Joined: 2010-09-15

Market Mark wrote:NotQuite wrote:Actually ZWINGDONG I've already transferred 2 mil into the house account and building relationships is absolutely the first step to closing an account. Some may say I am stupid for doing that but I know this game. I was simply giving Merrill a taste of what is to come in my efforts.By the way tenaciously recruited into this business with no prior experience so lets not talk about what Merrill thinks of me. If things were not to work out; which I am pretty sure they will I wouldnt work for another brokerage firm anyway and they could keep the assets. I would bow out gracefully and go dominate another industry. I wouldn't cry over it ; however when a Billion Dollar company tells you that they believe in a test preparation company then I didn't see the harm in trusting them. We have actually had 2 FA's within the pass two months to fail via FIRE I just didn't want to scare the new guy. I dont cry because I am absolutely fearless. If and when I get another opportunity to pass I could almost guarantee I could double your book in less than a year and by the way I am not a Richie Rich. I'm a shirtsleeve to shirtsleeve; however this sleeve ends here. I almost believe that you are one of the over 35 year olds who still believes in rites of passages, but the reality is that this industry will not stand with us 25 and unders coming in now. In about 20 years with the 'help' of current FAs over 35 Merrill will be selling itself to another bank because, cold calling doesn't work anymore. It isn't the only way anymore and I'd say 50% of the current Advisors for Merrill still oddly believe business is closed over the phone and behind their desk. I know the truth; I know that the old fogees prey on the PMDs in an effort to "PARTNER" and get in on a portion of the assets so that just in case the PMD fails; which is what I believe the FA's pray for; they can own those assets and laugh as they do no work themselves. Prospecting doesn't even happen unless a PMD does it and frankly no FA in Merrill can eat unless they are prospecting but instead of actually doing the work they leach. That's cool though I know exactly how to handle them. But anyway none of this matters. The forum was about FIRE Solutions & The Series 7 and you said so yourself, they are sub par. So do me a favor and "GROW UP" and get off FORUMs when you should probably be prospecting and concerned about your own book and not be in the ROOKIE forum giving supposed "SENOIR" advice. Sorry guys I'm not trying to be rude to ZWINGDONG however if FIRE was Fireproof it would be the only Test Prep out and that only means that it is not for everybody and it wasnt for me. That is all I was trying to say. No tears here. Oh and during this annoyed reply post I received a phone call and looks like I am getting a second chance so "WATCH OUT" ZWINGDONG. I'm coming for your clients buddy. All of em. I won't fail next time and I've already got my 66 so give me till whenever I pass this test and I promise to send you an E-THANK YOU Card for all your support. What an encouragement you've been.Arrogance is not a business plan.  For a guy that failed the 7 you should be a little more modest.  Bringing in a few million in assets is a great start.  Good for you.  But it's a far cry from actually having a successful practice.  Regardless of how confident you may be, you are totally unproven, and you failed the first test.  Here here.

abovocom's picture
Offline
Joined: 2011-07-20

Well, this got a little contentious, but I recently had a nice conversation with Training Consultants and found out that they do the training for several major national firms including EJ, TD Ameritrade & 5/3rd.  I hope that ML gets them too.  The main instructor also wrote questions for the Series 7 for over 20 years.   So, I'm feeling pretty confident with them.  

ZwingDing's picture
Offline
Joined: 2010-09-15

abovocom wrote:I recently had a nice conversation with Training Consultants and found out that they do the training for several major national firms including EJ, TD Ameritrade & 5/3rd.  I hope that ML gets them too.  I concur.

NotQuite's picture
Offline
Joined: 2011-08-04

Ok folks listen I wasnt trying to display arrogance or act as if I do not have to pay any dues. I believe that the 7 is not a joke and yes I should have passed it but I did not the first time. Merrill Lynch is the only that Ive heard of that fires you if you do not pass. And there are a lot of people that you really dont know about that did not pass that are extremeley successful at Merrill Lynch for instance our Resident Director. He was very transparent in telling me that he did not pass twice and the #1 FA in our complex and the only one on barrons in our side of the state did not either the first 2 times. So nobody in authority really uses it as a measure. I was told it is an excuse to get rid of people they believe have no chance in this business. Fortunate for me I did not have that issue. But yes I did fail and it was my fault not Fire Solutions. Im not an excuse maker. I accept all my mistakes; but I also accept my fate and it wasnt being fired at Merrill. You all can say whatever you need to in order to feel validated as "FAs" but I know the truth. You cant stand to know that I reveived a second opportunity to use Merrill as a platform to dominate this industry. Im confident only because I should be. Why should I mope around like some wimp who got his lunch stolen. As I recall there were many successful individuals who did not even finish college but they became very wealthy and successful. I bet the guys calling them a loser work for them or possibly all the Cum Laude Grads who are unemployed. The test means nothing to anyone but those who pass. Its the same test those people will carry with them or hang in their offices as acheivements. Call me arrogant, call me ignorant, call me a failure, call me whatever you need to keep your test score at some strange value. God I bet you would really hate the fact that I dont have one wealthy family member, or perhaps the fact that I dont have rich friends either, or maybe even the fact that I dont even have a college degree, or the fact that I was employed with Merrill Lynch a full 3 months before I was even given the test prep material, and yea I still failed. What a loser I must be huh? But this loser will be getting a second chance just like the other two "millionaire" FAs Merrill gave a second chance to. Must really piss you off huh. Sorry I spoiled the fun.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

I won't "jump" into this thread, but I do congrat. all of you... very entertaining  When do you test again for the series 7 ZQ?  I look forward to hearing your results

NotQuite's picture
Offline
Joined: 2011-08-04

I will post my scores immediately followimg and my practice test scores the day before but I also plan to supplement another exam prep into the equation. I know that I scored 95% derivitaves which shocked me because I honestly thought that I knew options the least but they are pretty easy lol. But I really had issues in Taxation. Ive already spoken to Roy and I have an action plan to follow. Hopefully I wont let my other peers down on this forum this time. There is some strange hatred for Test failures here. Gosh I guess their complex directors are jerks about it. Mine hates all these test. He was born and bred with Merrill. Its the only firm he has ever worked for. He told me that if I show him a PMD who can pass a test He will show me the same termination papers for those same PMDs who can not meet a hurdle. He told me that I was only an exception because I had something in me that you can not teach. Im not cocky in fact those who tell me Im confident I generally laugh at. I love people. I was angry because someone attacked my character on this blog forum. I was just fighting back and A lot of how he chose to pick apart what I said as based soley on his frustration that I believed I deserved a second chance. I was simply trying to offer some advice to the guy using FIRE thats all. Remember I posted all of that stuff 2 hours after I failed the exam. I shouldnt have even been on this post. I was oddly obsessed with it and I wanted to know if anyone dealt with similar frustrations i dealt with; within the course. And obviously they did. I heard a couple of the same things. I guess except for my supposed excuses. But whatever ZWINGDONG is a definite 35 and abover. He's just old. He can't help it. He only has 15 or 10 more years or 1 if he is as sarcastic or condescending with his clients like he was today in his attack on my post. Post bully lol. Must have been a really unpopular guy. Sad and lonely. Excuse me for having real feelings in a post but then you stated you cared about your clients. I find that hard to believe based on your haneous intellectual analysis of my post. You'd mske an awesome desk analyst or desk trader. Advisor: I VOTE NO. I believe your clients dont get a word in. You would be great even at Merrill Edge with the $100Ks and below. Im not returning to this negative posting environment until I come back to print out ZWINGDONGS responses to hang in my cubicle and laugh at. I was entertained mostly by his "sweeties" and he left out "hey girl" with a snap. He is that position you lose in with the very high premium. No value and Harsh.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

Good luck to you. I will post my scores after I test as well.

NotQuite's picture
Offline
Joined: 2011-08-04

Hater

Nopec's picture
Offline
Joined: 2011-05-09

I just passed my series 7 using Kaplan. I took about 2 months to study. The first month I really just browsed the material and was very casual. The second month I really dove into it and studied every day for a couple hours. It wasn't easy as I am already a registered rep and have to produce as well but I managed. I took the week long Kaplan course and it was great. Really boosted my confidence.

I got an 86% on my exam. I know it's not earth shattering but I felt very, very prepared by Kaplan. I will be using them for my 66.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

Nopec wrote:I just passed my series 7 using Kaplan. I got an 86% on my exam. I know it's not earth shattering but I felt very, very prepared by Kaplan. I will be using them for my 66.I will be taking my 7 tomorrow after studying with TC. I will let you know how it goes as well. (I hope for an 100%, but will be happy with an 75%) LOL 

abovocom's picture
Offline
Joined: 2011-07-20

I wish you well.  Please let us know how it went and how well prepared you felt with Training Consultants.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

abovocom wrote:I wish you well.  Please let us know how it went and how well prepared you felt with Training Consultants. It went great. Felt super prepared!  (Now on to the 66).If you want my score send me a private message.  (That way no one can 'tag' me) LOL

abovocom's picture
Offline
Joined: 2011-07-20

Where the  questions on the Series 7 exam similar to Training Consultants'?

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

Just sent you a message bro

abovocom's picture
Offline
Joined: 2011-07-20

Chalk up another failure to Fire Solutions!  A guy in my office just used them for the Series 66 and got a 68.  He said that FireSolutions' executive summaries (they also highlight their points to remember in red) didn't even come close to covering what was on the test.

Mr. Net New's picture
Offline
Joined: 2010-04-30

I'll say it again.  Fire Solutions and the 66 are on two completely different pages.  Seriously, someone really needs to fill them in on the new test. 

Market Mark's picture
Offline
Joined: 2011-07-23

I took the 7 last week. Felt totally prepared with STC. Towards the end of my studying I disregarded Fire Solutions all together. And I'm glad I did. My scores on the practice tests with STC were within 1-2 points of my score on the 7. But with Fire my practice test scores were a full 12 points below my actual score on the 7. I bought Series 7 for Dummies and actually found that more relevant than Fire Solutions. The actua test more closely resembled the format of STC than anything else I saw.

Anyway 7 done. Got a great score. On to the 66.

abovocom's picture
Offline
Joined: 2011-07-20

A colleage just passed the Series 7 with a 79.  He started off using Fire Solutions and then toward the end skipped the last couple of chapters.  He scored a 59 on his practice exam.  He basically gave up with FS and then gambled on passing the Series 7.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

I take my 66 on Friday. I am feeling pretty confident with the TC program.

abovocom's picture
Offline
Joined: 2011-07-20

Hi Fing Fang Foom:How did the Series 66 go with Training Solutions?  Were they spot on with what they covered? Where the questions similar?  Please share.

Fing Fang Foom's picture
Offline
Joined: 2011-08-04

abovocom wrote:Hi Fing Fang Foom:How did the Series 66 go with Training Solutions?  Were they spot on with what they covered? Where the questions similar?  Please share. 66 went great.  Scored in the high 80s.  They were spot on (again) with this test.  I amost have a weird feeling like some of the questions are the 'exact same' as the real test.  If they are different, then they are barely different.  Out of the 110 questions I ran across about 10-15 that I considered "weird" or like I had never seen those type of questions before.  Out of those 15, I felt I answered about 4-5 of them correctly because of my studying.  I would also say that about 5-7 of the questions on the test I had "No clue" what the H&^% they were talking about... so I just guessed LOL.  But seeing how you can miss 25 questions out of the test (and not even counting the extra 10 that don't count towards your score), I see no reason why someone cannot pass this exam with a couple weeks of studying with TC's. (Thats if you have passed the 7 already). Have you taking your 7 again?  If you posted already about it, sorry I must have missed it.

abovocom's picture
Offline
Joined: 2011-07-20

Another colleague passed the 66 with Training Consultants with a score of 87.  He used STC the first time and failed with a score in the 60's.  STC just gave too much information.  He mentioned that the Series 66 Exam questions were almost exactly the same as the TC practice final exam.  Also, his Series 66 exam score came with in one point of the final exam on TC.

FADavo's picture
Offline
Joined: 2011-06-27

teddybeaver's picture
Offline
Joined: 2011-09-06

Yes there are many firms which train people. Even I too heard that about the same but unable to trace one. If you have any idea please do share the information about the trainers.

ZwingDing's picture
Offline
Joined: 2010-09-15

FADavo wrote:I would just like to comment on this guys thoughts on cold calling.  As Zwing and many others have stated - it does work.  It has worked for them from the FA side. However, I want to take this a bit further and tell you a little story from the perspective of someone that cold calling has worked ON. Zwing and Judge and Bondguy as well as many others are living proof that it works from the FA side.  Zwing here, I am a career changer and have cold called in previous jobs so I do know it works. I am a noob in this industry and don't have the personal accomplishments of Bondguy and Judge.Your story makes it clear that cold calling is a matter of finding someone at just exactly the right time. It's a great story and encouraging.

abovocom's picture
Offline
Joined: 2011-07-20

Well, back on topic, I wanted to say that I passed the Series 7 with a score in the mid eighties using Training Consultants. I found that their practice questions were almost exactly like the actual exam questions.  I estimate that about 30 or 40 questions from the practice test were verbatim on the actual exam.  On my test, there were about 30-40 breakeven and profit/loss options questions.  I finished the test about 45 minutes early with comfort knowing that I had passed before I clicked the submit button.   I did use some auxiliary information like the Series 7 for Dummies and a PassPerfect Guide at times, but overall, it was TC that really got me through.  It seems that several course providers have different ways of setting up Options charts and T-Charts, etc.  Training Consultants method was the best and easiest that I saw.  I am now starting with them for the Series 66.   I hope this helps someone else out there.

abovocom's picture
Offline
Joined: 2011-07-20

I passed the Series 7 using Training Consultants with a score in the mid 80's.  I started off using Firesolutions, but couldn't take the tutorials or the poorly worded written material.  I am on the Series 66 material now and using TC again. A colleague just exclusively used Firesolutions for the Series 66 and failed the test by 2 points today.

sablegules's picture
Offline
Joined: 2012-03-28

Yo, back in the game and just started studying for series 7 again. Passed in 2002 with a 96% using STC Corp materials at UBS. Understand ML uses this Fire Solutions. Haven't heard great things and just found out one of the girls in the office failed her exam. Luckily I still have my STC books from 10 years ago.Recommendation: STC. Back in 2002 all 15 trainees in my class passed the exam using STC. We also supplemented with Kaplan Passtrack just because we were looking to supplement the STC tests that we had taken 2x already.Question: How much is really different on the test from 10 years ago. I know there have been some reg changes but other than that -  should be the same stuff really, right? Anyone have any insight on that one. 

michael123's picture
Offline
Joined: 2012-06-14

If you want to pass Series 7 or 66, do not look at FireSolutions. They just give you so much to read, make you do so much, for not much than a few questions in the test. They claim a 98.5% passing rate which is far from truth. I saw it as ML PMD;s failed one after another; and FireSolutions would claim it is because they did not complete their green light certifications; While I was with ML, anyone who took only FireSolutions failed the tests; they had to use STC or Training Consultants , without manager's approval or knowledge, in order to pass.

mstudy's picture
Offline
Joined: 2011-10-05

I am very skeptical when companies boast about pass rates being over 90% (98.5% in this case). There is a wide range of ability in this industry ranging from some very smart people who can pass tests with high scores to some people who struggle to understand the basic concepts.

Mike
Http://www.series7examtutor,com

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links

 

Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×