Series 7 exam

A candidate who passes the Series 7 exam is qualified for the solicitation, purchase and/or sale of all securities products, including corporate securities, municipal fund securities, options, direct participation programs, investment company products and variable contracts. Covered activities and products include: • public offerings and/or private placements of corporate securities (stocks and bonds), • rights, • warrants, • mutual funds, • money market funds, • unit investment trusts (UITs), • exchange-traded funds (ETFs), • real estate investment trusts (REITs), • options, options strategies and mortgage-backed securities, • government securities, • repos and certificates of accrual on government securities, • direct participation programs, • venture capital, • sale of municipal securities and • hedge funds == Eligibility ==

The corequisite is the Securities Industry Essentials (SIE) exam, a change FINRA enacted in 2018. In October 2018, the 250-question Series 7 exam was replaced by the current top-off exam that is now taken in conjunction with the SIE exam (a correlative change was made to the Series 6 exam). In order to take the exam, an individual must be sponsored by a member firm of either FINRA or a self-regulatory organization (SRO). Employers will sponsor candidates as part of employment. There is no education requirement. == Structure ==

The Series 7 is a three-hour, forty-five-minute exam. Average study time is between 80 and 150 hours depending on current financial knowledge. The Series 7 exam tests candidates on four functions. == Registration costs ==

As of June 24, 2023, the registration cost is $300. ==See also==