Monday, October 12, 2009

What's the best way to prepare for the Series 7?

I hear the following question all the time: what's the best way to study for my test?

The answer?

Hard. Really hard.

Seriously. This exam is not just trying to flunk you--it's trying to harass and humiliate you. On any given day, 2/3 of all test-takers fail the Series 7 exam. Obviously, FINRA likes it that way. And, why wouldn't they? The more times people have to take and re-take the exam, the more testing fees they generate.

Okay, so it's a hard test. You already knew that--the question is, what's the best way to study for it?

I recommend that you study 5 days a week for a total of about 20 hours, and that you do this for about 8 weeks in a row. At a minimum.


So, after you buy the Pass the 7 full package plus DVD (, I recommend that you watch the DVD lesson that corresponds to each Pass the 7 book chapter first. Then, I would read the book chapter. Then, I would watch the DVD lesson again. Then, I would do all the practice questions on that chapter. And, yes, that would take me a lot of time, but I would really know something about that chapter before I moved on to the next one. Also, it's very easy to pop in a DVD and hit the Play button--after a few minutes of that, you'll be awake enough to put in an hour or so of hard, concentrated reading. Watching the DVD lesson once again will be a nice cool-down after reading, and then applying what you've studied to the practice questions will kick it all up a notch and leave you with that satisfied post-study buzz that will allow you to get some sleep. Face it, you have to sleep the two or three months that you study for your Series 7. And eat. And live your life like a normal person. If you go into the testing center looking and feeling like a zombie, you have statistically no chance of passing.

Once you've gotten through the book and done all the questions by-topic, it's time to take some final exams, which you'll probably do for the last week or two before your exam. Make sure you aren't memorizing answers, because whatever you study will not look exactly like the exam, no matter how hard the company markets their "expertise," or "results." We have some "Go No Go" exams that we can send a link to, so send an email. We'll also talk more about studying for the exam, trying to keep it as concise as possible.

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