**new** series 7 exam 11/7
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Yes, it was a commitment - and it sucked! :)
To the 66 and CFA I in December - call me crazy.
STC. If you're scoring 75-80 on the quiz, greenlights, supplemental, and addendum you'll be fine.
[quote=kyza]
Yes, it was a commitment - and it sucked! :)
To the 66 and CFA I in December - call me crazy.
[/quote]
The 66 is not so bad but wait until you see the content on the CFA program's level 1 exam. You should set aside about 6months of at least 4 hours per day, including weekends
I really need to pass the Series 7. I took the test in 2008 and passed with a 70% after studying using RegEd materials and an online class. I was out of the industry for too long and my license lapsed. I am redoing it all with PassPerfect and I am trying to get through all of the material before my five day class begins next week. Does anyone have any pointers? A lot of this material seems very new to me, though some of it is coming back. I am reading the books, taking the chapter quizzes and also listening to a completely other Series 7 book on tape in the car for an hour a day. I have not had much experience using the 7, but my new position requires it. If I study and get through the material this week, atend a 5 day 8am-5pm class next week and study and take tests the week after, is it reasonable to take the test three weeks from now?
Thanks for your help
I have a few thoughts: first, find another prep provider. Pass Perfect is not one of the better ones. Also, reconsider taking the five day class. 40 hours is alot of time to spend in a class that is not tailored to you. With that time, you could be studing subjects that you are weak in and be additional questions.
Unfortunately, I have already committed myself and seven other future RRs to the materials and class. What is a good next step? Should I invest in another product? What is the best system? Will it be a problem to do both? What options do you see that may work better? I do feel a class could really be beneficial, as I learn well from lecture. Thanks for your assistance.
It is definitley not a problem to do both. It helps to see questions from more than one provider. You might want to try Training Consultants if you have some extra money that you want to spend
Which one?
Training Consultants
http://www.trainingconsultants.com/series-7-exam.aspx
or
STC
http://www.stcusa.com/
The first one, "Training Consultants." I don't have experience with either TC or STC. I am currently use Fire Solutions. Even if I pass my 7 with a 90%, I would not recommend Fire Solutions to most people. I certainly will not use them for the 66 even if I pass.
I'm trying to find suitability questions on Kaplan but can't find anything direct.
Hello. I am Javaughn from the Bahamas. I took the series 7 exam November 26, 2011 and failed with a 67%. I saw that the exam changed November 6th, 2011. I had alot of questions thrown at me that i didn’t know about especially on ETF’s. I ordered the material from STCUSA, the Qbank questions from Kaplan and material from PassPerfect. I feel like i am going insane. Can you please help narrow this down for me as which one of these materials i need to focus more on because i am in desperate need of passing.
Thanks.
I just passed my Series 7 and got an 89, and here are my thoughts. First off, the firm I am with uses FireSolutions exclusively. For the 7 I thought it was pretty bad. I thought that Roy’s lecture’s were terrible. I went through the entire firesolutions curriculum and still didn’t feel prepared, so I purchased Kaplan’s QBank. I think that made a huge difference for me. There were at least 10-15 questions on the QBank that were almost verbatim on the actual test for me.
I have recommended Qbank for any other person who will be taking the test. On my last 3 tests with Kaplan, I scored a 91, 88, and an 87…So, after passing with an 89 I feel that the Qbank is the only way to go.
I am now taking the Series 66 and will be purchasing the TC bank of questions as that seems to be the best from what I have read here.
Good Luck!
I used STC’s book for the series 7. I followed their training program almost exactly. My average exam score for the closed book final exams was 83% the second time I took them. When I took the real exam I made sure I read the question in its entirety, chose my answer, re-read the question, and made sure my answer still made sense. A lot of questions you can narrow down to two answers and pick the best one. Started my exam at 8am and finished by 12. That was the longest 10-15 seconds I have ever experienced in my life after hitting submit. PASSED - 92%. I must say STC was dead on the money. Just make sure you follow their program exactly.
I took the exam on July 2, 2012 and got a 71%. Failed by 1 question. I know I got a question wrong regarding IRA contributions. The STC numbers weren’t correct so I guessed. I also had a question about the wash sale rule. I remember my instructor mentioning 61 day rule, but i selected 31 days. After going back, I realized he was right. Also, there were a TON of questions on ETNs that threw me off. I’m just upset i failed by 1 question! BTW- I was getting 75- 80s on the STC exams. I’m back to studying. Currently getting around the same scoring 75-80.
ATM, That is too bad. Some people say they would rather get a 41% rather than a 71% (This is obviously ridiculous). Keep at it. With some extra studying you will probably pass the next time. Make sure you have the most recent study materials. Some people try to get by with materials that are a year or two old. If you are still using STC, check their website for any updates to materials. Also, it might be worthwhile to take a look at the series 7 content outline on FINRA’s website. This should give you a good idea as to whether all of the subjects are covered in any prep providers materials. ETN’s are in the content outline.
Mike
http://www.series7examtutor.com
http://www.series65examtutor.com
I took Series 7 this morning and passed with an 81. Not gonna lie, I don’t know how I got that score…the exam was a lot harder than I expected. But like “tbn” said above, a lot of the questions you could narrow down to two answers, and then just ultimately choose the best one that you thought made the most sense.
I used STC materials, and was not scoring good at all on the 13 Q&A practice exams. First time around the highest score I got was a 72 (Exam 3) and lowest was 62 (Exams 5 & 9). Did a little better second go around, averaging a 76 on the first 10 exams. On the Greenlight Progress Exam 4 I scored an 82.
There may have been a handful of questions that were semi-word-for-word on Series 7 compared with STC exams, but the big difference was on Series 7 the wrong answers were REALLY wrong, and you knew they could be thrown out right away. On STC, the wrong answers aren’t as noticeable I didn’t think.
Was hard to gauge how many questions were asked about different things…didnt seem to have many options questions, but did seem to have a lot of bond questions. Nothing on accrued interest calculations and acctg. formulas (P/E ratio, etc.). Several questions on margins/SMA, and tax treatment of selling bonds when bought at premium/discount. Overall a hodge-podge of questions that seemed very unique.
I followed the five week STC study program, but because the exam dates were so booked it wound up being about 7 weeks of studying time…I studied/took practice exams 3-4 hours/day, Monday-Friday.
The best advice I guess would be to know the material as best you can, but also have the ability to really use your common sense based on that foundation of knowledge. There are plenty of “what do you do” type of questions, and if you narrow your choices down you’ll eventually find the right answer.
On to the 66!
The key is knowing as much as you can. Knowing material helps you select correct answers but almost as importantly helps you eliminate incorrect answers.
Mike
http://www.series7examtutor.com
http://www.series65examtutor.com
I passed my series 7 Wed & on my first try! hard test x me, Im not close of being a RR/sales person. After clicking the exit button (before my results were shown to me) I promised God I was going to share my experience w the world.
Here u go: * lots of variable annuities (suit. x elderly/young etc) * lost of preferred stock q. * parity convertible p. stock * commercial paper/acceptance! (easy * brokered CDs * 1,000M (need to calculate something w 1,000M! no idea * options x US exporter * options focused only on straddles and spread (bullish/bearish) * compare interest rates (from prime rate to call rate) * official statement timing * what is the market x currency exchanges * ADR holder pays foreign tax? * cooling off period timing, etc… I’m remembering the easy ones,cannot quite remember the difficult ones…overall, difficult test, had to guess in at least 10 q, they throw things at u that I never read (I read 2 books!) or they have 2 very close options to choose from. Glad it is over. No more tests x me.