SERIES 7 11/24/2012

52 replies [Last post]
JFinn's picture
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Joined: 2013-06-14

I found making a study sheet of important information was a great way to better understand things like Option Spreads, Hedges, and Income strategies. I also put down helpful tools like mil points and basis points break downs - helped a lot with debt securities.

you get the beginning time of going through the tutorial to put down helpful information on your scratch paper. I memorized my sheet and just transferred it from memory onto my scratch sheet. Helped a lot with the series 7. Hopefully, you will pass your second time. Good Luck!

huffy's picture
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Joined: 2014-11-17

I know this is a bit of an old post but I wanted to add my opinion. There are some other posts with people saying that the 7 is a joke and that you would have to be an idiot not to pass. This is absolutely not true. The 7 is a very difficult exam that take a lot of time to prepare for.

I had an undergrad degree in finance and after seeing what some other people had said I figured I would be fine. I studied maybe 10 hours and took no practice exams. I was humbled with a 59.

After convincing my sponsor to give me another chance I started really studying. You should plan on 2-3 hours everyday for a month to be really prepared. I used the STC material. It does not have everything but should get you prepared.

I took it again today, exactly one month after my first attempt, and passed with a 79. I was scoring around that mark on my practice exams so you should have a pretty good idea where you are going in.

There are a large number of best answer questions that will be difficult. There will be 2 or sometimes 3 correct answers but you will have to pick the best one. This can be very challenging. Also make sure you know the specific differences between corporate, municipal and federal bonds. Not just how they are taxed. There were much more questions about ETFs, REITs and CMOs then I expected but that may just have been my exam. The biggest part of the exam is on suitability. Make sure that you know what investment are right for what investors, not just the details of the investments themselves.

This is a very long and detailed exam. A lot of time in needed to prepare for it. It is a very passable exam though. If you put the work in you will get there, Even if you fail the first time don't give up. I went up 20 percent in one month. You can do it too.

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