The Series 7 Exam

Let's talk about the Series 7 exam itself. First, the basic facts:

• 250 questions (plus 10 experimental)
• 6 hours with a required "half-time" break
• a calculator is provided--bring your photo ID only
• you must be sponsored by a broker-dealer to take the test
• to get a securities salesperson (agent) license from your state, you must also take the 63 or the 66 exam in virtually all states

Now let's dispel a few urban legends regarding the Series 7

• there is no limit to the number of times you can take the test
• however: you must wait 30 days to re-test after the first failed attempt, 30 days to re-test after the second failed attempt, then 6 months after every failed attempt going forward
• the test does not adapt to anything you're doing on the computer
• no one has the "actual Series 7 questions"

How do people perform on this exam?

• on any given day, ~ 66% of those taking the test pass it
• any company claiming to have a "90% pass rate or higher" is pulling a number out of thin air. how could anyone consistently beat the national average by 25+ points, especially when all other vendors have access to each others' materials? there are no secrets in the test prep industry
• the average score is about 73% on the test
• no one has results broken down by "first attempt," "second attempt," etc.

For more information on the Series 7 exam itself, go to YouTube and type in "Series 7 exam" or "What is a Series 7?" and click on our video clip.