People who wish to work as a stockbroker in the U.S.A. must take the am is administered by the Financial Industry Regulatory Authority, or FINRA.
Applicants take the exam in two 3-hour sessions. Questions cover the following competencies:
- Seeks Business for the Broker-Dealer through Customers and Potential Customers (68 questions)
- Opens Accounts, Transfers Assets, and Maintains Appropriate Account Records (17 questions)
- Obtains and Verifies Customer's Purchase and Sales Instructions, Enters Orders, and Follows Up (58 questions)
The Financial Industry Regulatory Authority (FINRA) Series 7 exam is a standardized test administered by FINRA to assess the knowledge and skills of individuals who want to become registered representatives (also known as stockbrokers). There are several reasons why you might consider passing the FINRA Series 7 exam:
- To become a registered representative: In order to work as a stockbroker or in a similar role, you must be registered with FINRA and hold a valid Series 7 license. Passing the FINRA Series 7 exam is a requirement for obtaining this license.
- To advance your career: Many financial firms prefer to hire individuals who have passed the FINRA Series 7 exam and hold a valid license. By passing the exam, you may be able to open up new job opportunities and advance your career.
- To increase your knowledge and skills: The FINRA Series 7 exam covers a wide range of topics related to the securities industry, including regulations, ethical practices, and investment products. By studying for and taking the exam, you can expand your knowledge and skills in these areas.
- To increase your credibility: The FINRA Series 7 license is a widely recognized and respected credential in the securities industry. By holding a valid license, you can demonstrate your knowledge and commitment to your profession.
Passing the FINRA Series 7 exam can be a valuable investment in your career in the securities industry, as it can provide a wide range of job opportunities, increase your knowledge and skills, and increase your credibility in the field.
Disclaimer: This content is provided for informational purposes only. It has not been edited, fact-checked, or updated. This content is neither affiliated with nor endorsed by FINRA or any other official agency. These questions were written by a third-party test prep company and licensed by PracticeQuiz for use on this site. Please use at your own discretion.
